cube26, a Delhi based mobile technology Startup has raised Rs 50 Cr($7.7M) in Seed funding led by Tiger Global and ecommerce giant Flipkart. In the last few years, Flipkart has invested in many Startups, both related to its domain and in some cases, in companies having no overlap. Signalling the company’s desire and attempt to remain competitive in the technology market.
cube26 gesture control technology enables a user to communicate with a mobile device or TV through gestures. Face body recognition, presence detection, age detection and emotion detection are some of the services provided by this Startup. These services are used by various companies in a customized format for their end users.
cube26, which has worked on utility based applications, has a diverse clientele portfolio. Companies like Micromax, Panasonic, Flipkart and Freecharge are some of its well known clients. They have worked with some mobile companies in order to enable them to provide customized Operating Systems to their clients. They are also planning to launch smart bulbs in November, a step in the direction of providing affordable connected devices to the users.Some of their popular gesture technologies include “Blink to Capture for Panasonic” and “Look Away to Pause” for Panasonic and Micromax.
They have also ventured into technology which relates to Internet of Things (IoT). IOT is the network of physical objects or “things” embedded with electronics, software, sensors, and network connectivity allowing these “things” to collect and share data among themselves. They have also launched first of its kind Iota category in India in order to provide unique experience to the connected users.
The company was founded in the year 2012 by Saurav Kumar, Aakash Jain and Abhilekh Agarwal. Currently, the revenue of this company is Rs 1Cr per month and with the recent investment coming in, one can expect the business volume of this company to scale up.
According to Gartner, IOT vendors will earn more than $310 billion by 2020. It also estimated that by 2020, IOT will comprise around 26 billion devices. India being such a big market place, it is but obvious that top investors are seeing investment in IOT as the next gen investment.
Women Ready-to-wear e-Commerce Sales rise amidst Coronavirus due to Flexible Payment Options; Finds Klarna Report
NEW YORK, May 8, 2020 — Klarna, a leading global payments and shopping provider, today released new data showing that women’s ready-to-wear clothing saw a 20% week-over-week rise in average daily transactions made through the Klarna app, which allows consumers to shop at any online store. In addition, average daily transaction volumes for jewelry continued on an upward trend, rising by 35% week over week in the week ended May 2.
“As various states loosen their stay-at-home orders and more people begin to return to work, our data suggest that female consumers may be looking to refresh their closets with in-season ready-to-wear apparel,” said David Sykes, Head of US at Klarna. “Another interesting trend our data is revealing is that jewelry transactions are continuing to trend upward, rising by 35% week over week. That may indicate that consumers are treating themselves, or perhaps their loved ones, to little luxuries in the midst of the ongoing pandemic.”
Aside from analyzing average daily volumes to identify simple increases and decreases in category transactions week to week, Klarna has also been analyzing share of wallet-or how its app users are dividing their spending among different shopping categories-to identify what product categories Gen Zers, millennials and Gen Xers are shopping for most often using Klarna’s flexible payment options and how their e-commerce spending is shifting as the coronavirus crisis continues.
Klarna’s most recent demographic data show that from April 25 through May 2, Gen Z and millennial Klarna app users increased their share of spending on apparel, footwear and accessories for the third week in a row. The jewelry subcategory, which saw 35% week-over-week transaction growth, also saw average order value tick up 4% to $154 in the week ended May 2 from $148 the previous week.
Over the coming weeks, Klarna, which serves 7 million consumers in the US and 85 million consumers globally, will continue to analyze transaction data weekly to identify how the coronavirus outbreak is affecting e-commerce and consumer shopping behavior.
Other Key Findings
- Week over week in the week ended May 2, the apparel, footwear and accessories category’s share of all purchase transactions made through the Klarna app increased 4% among Gen Zers and nearly 2% among millennials, while decreasing 3% among Gen Xers.
- Gen Xers continued their seven-week trend of shifting share of wallet toward home and garden items in the week ended May 2, suggesting they are continuing to focus on DIY improvements and making their living environments more comfortable as the pandemic wears on. Millennials’ share of spending on home and garden was flat versus the previous week, while Gen Zers’ share of spending on the category fell 27% week over week.
- Millennials and Gen Xers increased their share of spending on leisure, sport and hobby items week over week, while Gen Zers’ share of spending on the category fell slightly. The musical instruments subcategory also had another strong week, with transactions up 15% week over week.
- All three demographic groups decreased their share of spending on health and beauty items week over week, but increased their share of spending on electronics, perhaps indicating they had stocked up on personal care and grooming items in previous weeks.
- Week over week, share of spending on marketplaces (which include sites such as Amazon.com, Walmart.com, Target.com and eBay.com) increased 9% among Gen Zers and 2% among millennials. Gen Xers’ share of spending on the category was flat versus the previous week.
Klarna analyzed purchase volumes for items bought through the Klarna app, which allows consumers to shop at any online store, for the weeks of April 26-May 2, April 19-25, April 12-18, April 5-11, March 29-April 4, March 22-28, March 15-21 and for an average week based on the five-week period covering February 1-March 7, 2020. The data were distributed as share of total, and did not account for any increases or decreases of volume within any of the age groups analyzed-Gen Zers ages 18 and older (born 1997-2002), millennials (born 1981-1996) and Gen Xers (born 1965-1980). The data indicate only the distribution of purchase volumes among the following categories for each age group:
- Apparel, footwear and accessories: adult and kids clothing and shoes, underwear, jewelry and watches, sunglasses, bags, and wallets
- Leisure, sport and hobby: sports and outdoor gear, concept stores, hobby articles, prints and photos, costumes, and party supplies
- Home and garden: furniture, tools and home improvement, pet supplies, kitchenware, plants and flowers, and cleaning and sanitary products
- Health and beauty: personal care and haircare, cosmetics, dietary supplements, fragrances, and prescription optics
- Marketplace: items purchased from the likes of Amazon.com, Walmart.com, Target.com and eBay.com
- Electronics: diversified electronics, electronic equipment and related accessories, household electronics (including white goods and appliances), office machines and related accessories (excluding computers), and car electronics
- Intangible items: travel services and event tickets
We make shopping smooth. With Klarna, consumers can buy now and pay later, so they can get what they need today. Klarna’s offering to consumers and retailers includes payments, social shopping and personal finances. Over 200,000 merchants, including H&M, IKEA, Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch, Nike and AliExpress, have enabled Klarna’s innovative shopping experience online and in-store. Klarna is the most highly valued fintech in Europe, with a valuation of $5.5 billion, and one of the largest private fintechs globally. Klarna was founded in 2005, has over 3,000 employees and is active in 17 countries. Klarna’s North American offices are in Columbus, Ohio; Los Angeles; and New York. Klarna Credit is issued by WebBank, member FDIC.
For more information, visit klarna.com.
This News has been Published in Partnership with PR Newswire
Why shopping from this online store can be the craziest thing you have done in a while
Starting from the first online transaction in 1994 which resulted in the sale of a CD of “Ten Summoner’s Tales” by Sting to the Billion Dollar industry it is today, the rise of online shopping has been exponential and in a way unimaginable. But one thing that has remained the same since the very beginning is that a customer views a product or a service on the screen and places the order for the same and needless to say, gets the product that was seen on the screen delivered to his/her address.
What if when you are placing the order, you don’t really know what are you going to get when your order gets delivered? Sounds Crazy, right? Mystery Boxes Online is an online store which makes this experience possible.
Shopping on Mystery Boxes Online can be fun. A customer while placing the order doesn’t really know what he or she is going to get.Most people get generally worried at the thought of a mystery box. Am I really going to get my money’s worth with this box? In order to ameliorate this fear, the online store ensures that all boxes hold enough product to meet face value and they also guarantee an above standard value for the mystery box. You can get Mystery boxes starting from USD 9.99 to USD 99,999.99.
However, as a customer service rule, the online store, gives the customers a general idea on what they might receive.
One their non-luxury boxes, one can expect to receive.
– Collectibles (Antique and Modern)
– Stuffed Animals
– Name brand clothing
– Candy ($10 and $15 box only)
– Kitchen Items
On their luxury boxes, one can expect to receive
– High class clothing
– One of a kind collectibles
– Name brand purses
– High class Jewelry
For Mystery Boxes online, the biggest challenge is to win the trust of the customers. This, they do by delivering quality products.
Looking for Custom Printed Apparel and Decals? This website might just help you
Total Revenue in the Apparel market in the US will amount to US$326,110m in 2018. The market is expected to grow annually by 2.3% (CAGR 2018-2021) and a large chunk of the market segment is yet to be exploited. The market’s largest segment is the segment Women’s & Girls’ Apparel with a market volume of US$121,099m in 2018 and this segment has a lot of potential for entrepreneurs as well.
Catering to the apparel and accessories market segment with trendy and customized apparel and Decals is FivLines.com. FivLines.com is an online store that provides high class Decals and apparel based on users preferences.
The range of Apparel available on FivLines is pretty comprehensive and covers products like Snapback Hat, Tank Tops, Unisex Hoodies, Hats and Beanie apart from other cool accessories like Phone and table Cases, Watches and an awesome collection of bike life accessories.
When it comes to decals, they are made in and shipped from the U.S. Moreover, they are made of Computer Die-Cut 6-7 year Exterior Vinyl. All decals are shipped masked and ready for application. They can be placed on any flat, clean, outer surface on exterior items as well as interior items.
The team at Fivlines.com wishes to make the whole buying experience of customers superior by providing them top class support before as well as after ordering any product. They have also tried to achieve this by making the user interface intuitive.
The apparel market is a highly competitive market and the only way to compete or remain functional in this market segment is by providing top quality products and support . In the online era, the competition has advanced to a whole new level.
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