Industry insiders told us that while new PoS terminals are still being deployed, its mostly in organised and large format retail, which offer all payment forms. However, grocery shops, smaller stores and eateries are tilting towards QR code-based UPI transactions.
During the ongoing funding winter, several internet majors such as Paytm, Policybazaar parent PB Fintech, Flipkart failedd to control expenses in FY23. Horizontal omnichannel retailers such as Nykaa, Mamaearth parent Honasa Consumer and FirstCry also saw both employee expenses and marketing costs rise anywhere between 23% to 55% during FY23.
Startup circles may be abuzz with talk of reducing operational, promotional and workforce expenses amid a severe ‘funding winter, but some of the countrys top internet firms increased their spending during fiscal 2023, an analysis by ET shows.
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