Blog Vertex

The e-commerce festive season sale, which started on Friday, has seen volume growth of about 28% in the first two days if we compare it with the last year. This data also includes the sales of smartphones and watches. 

According to Unicommerce, they said that personal care products like lotions, hair dyes, lipsticks, cosmetics, creams, deodorants, and bath soaps are the fastest growing segment. It increased with the order volume of 70% in the first two days. Unicommerce is new Delhi based and provides a platform for warehouse and inventory management. They also provide an omnichannel retail platform for eCommerce companies like Myntra and Boat. it compared and analyzed the data of more than 7 million orders that were processed for the findings. 

The electronic segment reported a volume expansion of 48 and was driven by audio products and smart wearables. If we talk about the fashion category, then it is one of the largest in terms of order volumes at 7%. The other segments, which include home decor, gifting products, furniture, and jewelry, also grew strongly, according to the data. 

Manish Tiwari, country manager of India’s consumer business, Amazon India, said that the festive season creates a strong demand across the categories. They are also easing off the worries about inflation, which could impact sales. In the words of Tiwari, there is nervousness, but it has been a very positive surprise for us ahead of our expectations. Customers care about spending all our brand panthers, and sellers are feeling a lot more comfortable. A strong start is what defines what will happen for the rest of the season. 

FAQ

• Who is Manish Tiwari?

Ans. The country manager of India’s consumer business

• What is a unicommerce?

Ans. New Delhi-based platform which provides a platform for warehouse and inventory 

• When did the festive season start?

Ans. Friday

A 21-year-old Dutch man was detained by the police in the Netherlands, according to the National Public Prosecutor’s office. And three other Dutch men were also arrested in Holland on Friday night. 

It comes after a car containing firearms was found outside Justice Minister Vincent Van Quickenborne’s home this week. This minister has been placed under tighter police surveillance after a serious threat was made to the federal prosecutor on Saturday. They said that they were informed last week of a possible threat to political safety. It had been taken very seriously and launched an investigation. 

While the exact details of the threat remain unclear. It is also reported that it was an attempted kidnapping, with some Belgian media linking the plot to drug criminals. But the prosecutor’s office has not confirmed the details yet. On Saturday, the three suspects were arrested, and Mr. Van Quickenborne said in a Facebook post that he had been placed under strict security and would not be taking part in the planned event in the next few days. 

He said that anyone who works to fight crime knows the risk, and he will continue to target criminal groups with the resources and manpower. The criminals said, “Let me be clear: the people behind this are achieving the opposite of what they intended, and it strengthens my conviction that we must keep fighting.” 

FAQ

• How many men were arrested in total for the kidnapping?

Ans. 4

• What is the age of the Dutchman who was detained by the police in the Netherlands?

Ans. 21 years. 

• When were the three Dutch men arrested?

Ans. Friday night

Byju clears the pending payment of $2234 million to the global private investment firm Blackstone. They were linked to its deal to acquire the brick-and-mortar coaching chain Aakash Institute last year. As we know that Byju acquired the Aakash Institute last year in the amount of $950 million in April 2021. The amount of payment to Blackstone was delayed of about 38% as it is a stake held by Blackstone. 

The timeline for the payment was in June, but it was extended to August this year.  Byju Raveendran explained the procedures as they have to meet the guidelines set by the RBO so he clear the payment by the end of September. 

Byju is one of the most valued startups, but they also had been facing criticism for the delay in furnishing their audited financials for the years 2020-21. On September 14, with the gap of 18 months, the Bengaluru-based startup said that the revenue from the operation of financial year 21 had been readjusted to Rs 2,280 crore and the losses had ballooned to Rs 4,588 crore from Rs 262 crore in the previous financial year. 

The company claimed that its unaudited financial results show a revenue record of Rs 10,000 crore. Significant growth in revenue compared to the financial year 2020, but because of the revenue recognition changes, it is getting pushed to the next year. 

FAQ

•  What is the pending amount?

Ans. $234 million 

• When did the Aakash acquisition take place?

Ans. 2021 

• At which amount did Byju take over Aakash?

Ans. $950 million

Power lines have been downed and houses have been washed into the sea as Storm Fiona battered Canada’s coastline. A woman is missing after being washed out to sea. Fiona went from a hurricane to a tropical storm. The police said that this kind of weather event is very rare in Canada and the police said that the storm was like nothing we have ever seen. 

The military has been deployed to Nova Scotia, which helps with the clean-up operation. A total of five provinces are experiencing torrential rain and winds of up to 160km\h. With the widespread flooding and hundreds of thousands of people left without power. Prime Minister Trudeau says that the military will be deployed to Nova Scotia. He said that “if there is anything the federal government can do to help, we will be there.”

He also added that he will no longer travel to Japan to attend the funeral of former PM Shinzo Abe to deal with the storm’s aftermath. Tropical storm warnings have been issued for the Atlantic provinces of Nova Scotia, Newfoundland, New Brunswick, Prince Edward Island, and parts of Quebec. 

The population of 4,067 on the southwest tip of Newfoundland, the intense flooding saw some homes and office buildings washed out to sea, a local journalist told all this. The whole area is in an emergency state. 

FAQ

• At which place is one woman missing after being washed out in the sea?

Ans. Newfoundland 

• When was Fiona the hurricane?

Ans. Friday 

• What is the speed of the rain and winds experienced by the five provinces?

Ans. 160km\h