Product Round - ☕️ Markets Tumble! - The Morning Tea: 24/09/20

Thursday, 24th September ’20

Good morning, Forbes magazine announced its 100 most influential people list of 2020 and this year again, India made a mark. The list has 5 Indians or Indian origin people which includes actor Ayushmaan Khurana, PM Narendra Modi, Bilkis(a prominent Shaheen Bagh protester), Sundar Pichai, and Ravindra Gupta(professor at Cambridge University). The markets continue to fall for a 5th consecutive session and all eyes lie on the government for some drastic economic reforms. IPL continues to draw high traction in all the energy packed enthralling matches.

Here is a quote from father of our Nation, Mahatma Gandhi to kickstart our day.

Happiness is when what you think, what you say, and what you do are in harmony.

MARKETS

Markets: Nifty ended below the 11,150-level showing bearish trends for a 5th consecutive day. Telecom, metals and select banking and financial stocks pulled the market down but Reliance Industries, Axis Bank, HDFC Bank, HUL and Infosys performed well. There are some indications of respite on Thursday due to the scheduled derivatives expiry of September month contracts. US stocks dip but Nike showed record high quarterly earnings. This upbeat caused Adidas shares to rise, contributing to the lift in European shares.

TECHNOLOGY & INNOVATION

Apple’s first online store in India went live today. It’s the first time the company has run a first party retail network in the country. So far, sale of iPhones and other Apple products in India took place through third party distributors and resellers like Flipkart and Amazon.
Robinhood, the financial technology startup credited with helping popularize trading among millennials, has increased its latest funding round from investors to $660 million, giving the company a $11.7 Billion valuation.
French startup Mirakl has raised a $300 million funding round at a $1.5 billion valuation — the company is now a unicorn. Mirakl helps you launch and manage a marketplace on your e-commerce website. Many customers also rely on Mirakl-powered marketplaces for B2B transactions.

WHAT ELSE IS COOKING

Parliament passes 3 key labour reform bills: Parliament on Wednesday approved three key labour reform bills that will remove impediments for winding up of companies and allow firing of staff without government permission in firms with up to 300 workers. They are The Occupational Safety, Health and Working Conditions Code, 2020, The Industrial Relations Code, 2020 and The Code on Social Security, 2020.
Honda Cars introduces virtual showrooms to help explore vehicles: Honda Cars India has launched new virtual showrooms in order to help customers access the company’s offerings without risking the dangers of moving out of the house. This platform will enable customers to discover and engage with Honda’s entire model range in a seamless digital experience from the comfort of their homes.
Bharat Biotech inks pact with US university for new covid-19 vaccine: Bharat Biotech International Ltd has announced a licensing agreement with Washington University School of Medicine for a novel chimpanzee adenovirus-based single dose intranasal vaccine for covid-19. The pact will let the Krishna Ella-led vaccine developer own the rights to distribute the vaccine in all markets except US, Japan and Europe.

BUSINESS LOUNGE

Miraki

Many e-commerce companies rely on third-party sellers to increase their offering. Instead of having one seller selling to many customers, marketplaces let you sell products from many sellers to many customers. Mirakl has built a solution to manage the marketplace of your e-commerce platform.

300 companies have been working with Mirakl for their marketplace, such as Best Buy Canada, Carrefour, Darty and Office Depot. More recently, Mirakl has been increasingly working with B2B clients as well. These industry-specific marketplaces can be used for procurement or bulk selling of parts.

In this category, clients include Airbus Helicopters, Toyota Material Handling and Accor’s Astore. 60% of Mirakl’s marketplace are still consumer-facing marketplaces, but the company is adding as many B2B and B2C marketplaces these days. Mirakl has also launched its own catalog manager so that you can merge listings, add information, etc.

The founders first launched SplitGames which disrupted the video games retail market by offering a single online destination for all things video games and entertainment. The business took off rapidly, and in 2008 was acquired by Fnac, an iconic French retailer, a point of validation for the strategic advantage provided by an online marketplace.

Within three years, they delivered a marketplace-driven transformation program at Fnac, bringing massive assortment expansion, the successful launch of adjacent categories, and overall double-digit top-line and profitability growth. Eventually, in 2012, Mirakl was born which provided the technology backbone and the partner network needed to shift from a traditional pipeline business model to a platform business model.

TMT VARSITY

Steps to create great UX design

The aim of User Experience is to help users do what they intend to do when interacting with our business. The aim here is happy users who love using our application and return consistently to become our active users. Here are a few pro-tips for all product people and growth hackers.

Take action: We need to identify what our user intends to do and make sure that they are able to do it smoothly and in a minimalist and simplistic manner.
Get emotional: Different actions should evoke different emotions on our application. For example, in a meditation app, the landing page should be simple, less flashy and welcoming.
Start sketching: Sketch an outline for our application so that we can ensure that our app does what it is intended to do, rather than understanding the flaws post development.
Test early: Test and iterate as often as possible in the early stages with our test users. We can also choose to do AB testing and split testing.

    <p>Written by <a href="https://www.linkedin.com/in/kumar-sourav-mohanty-38a518166/" target="_blank" rel="noopener">Kumar Sourav Mohanty,</a> <a href="https://www.linkedin.com/in/akansh-bhatt/" target="_blank" rel="noopener">Akansh Bhatt</a>, and <a href="https://www.linkedin.com/in/shashankdobhal/" target="_blank" rel="noopener">Shashank Dobhal</a></p><h2>Become Smarter in Just 5 minutes</h2><p><strong>Get a daily mail that makes reading the news enjoyable. Stay informed and entertained for free. (After Sign Up, you'll receive a welcome mail within 5 minutes. If you don't get it, check your promotions tab and move it to primary.)</strong>

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