Food delivery firms reassure customers on safety
What’s the news?
India’s food delivery apps have started aggressive outreach about safety measures, including hygiene.
Why it matters?
The rapid spread of the Covid-19 has made customers sceptical about the safety of food delivery platforms. Some have expressed concern about the health of delivery partners given their exposure to multiple people.
Details:
Rebel Foods has introduced a live body temperature tracker on its app, providing customers with a live feed of body temperatures of those handling their orders — from the cook, kitchen executive to the delivery person.
Swiggy has introduced a “best safety standard batch” to select restaurants that have rolled out features like temperature control, sanitization every 4 hours, use of masks, and safe packing mechanisms. Read more.
Lockdown-hit e-commerce firms cheer up customers
What’s the news?
E-commerce firms which mostly sell non-essential items are using informational content, gaming and entertainment on their apps to connect with customers.
Why are companies doing it?
The Covid-19 lockdown has forced consumers to cut discretionary spends. To keep customers engaged and to build brand loyalty, e-commerce firms have come up with novel ways to inform and entertain users.
The Gist:
- Myntra app now has a fashion show and games including crosswords. It also has a health activity tracker, cooking classes and fashion advice.
- Nykaa, too, has launched quizzes, contextual work from home, health and social distancing content and campaigns.
- FirstCry is offering parenting content on its app which has a baby care zone where parents can consult doctors and health experts. Read more
Vertex leads $6 million fundraise in Recko
What’s the news?
Enterprise fintech startup Recko has raised $6 million in a funding round led by Vertex Ventures, the venture capital arm of the Singapore government-owned investment company, Temasek.
Why is it significant?
This comes when digital payments in India are expected to more than double to $135.2 billion in 2023, up from $64.8 billion in 2019. The three-year-old company, which uses artificial intelligence to reconcile digital transactions, claims to have undertaken reconciliation transactions estimated at $3 billion.
Details: Proceeds from the Series A round will be used by the Bengaluru-based startup to further ramp up product development and its presence outside India. Recko, which is targeting reconciling transactions worth $10 billion by the end of the ongoing calendar year, counts startups like Meesho, Grofers and Dunzo among its clientele. Read more.
Google to shut down Neighbourly app in May
What’s the news?
Google is shutting down its neighbourhood community app Neighbourly, nearly two years after its launch.
Why is it significant?
This comes at a time when India is under a 21-day nationwide lockdown to contain the Covid-19 pandemic. The tech giant said it can help more people by focusing on other Google apps that are already serving millions of people everyday.
Details:
The mobile app, which was part of Google’s Next Billion Users initiative, allowed users to ask questions to their neighbours by text or by voice, share local expertise and keep up with updates from their neighbourhood.
The Internet giant said that the app hasn’t gained traction as they had hoped, due to which they will be closing down the app on May 12, 2020 and users will be able to download their Neighbourly content until October 12 this year. Read more.
Shops, restaurants in malls seek rent waivers
What’s the news?
Restaurant chains, retailers and multiplexes have written individually to mall owners invoking the force majeure clause and have sought waiver of rentals till May.
Why it matters?
Rent and staff costs account for over half of overall expenses of retailers and restaurants. The Rs 4.2 lakh crore restaurant industry, which employs over seven million people, is staring at store closures and job losses because of the lockdown and social distancing norms.
Details: Multiplexes including PVR, Inox Leisure, Cinepolis India and Carnival Cinemas have invoked force majeure to suspend rentals on leased properties. Some malls have already announced rent waivers. These include Lulu Mall in Kochi; Forum Mall in Mangalore, Mysore, Chennai, and Hyderabad; and Xperia in Mumbai. Read more.
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