Nationwide and Dementia UK are bringing free face-to-face specialist dementia care to Cwmbran. The clinic will be hosted by Dementia UK’s Admiral Nurses in Nationwide’s Cwmbran branch. It aims to support anyone impacted by dementia, offering life-changing support to families and individuals living with dementia in the area. A similar clinic will be held in the Cardiff branch. The clinics form part of Nationwide’s new social impact programme, Fairer Futures, which addresses three of the UK’s biggest social issues through charity partnerships – dementia (Dementia UK), youth homelessness (Centrepoint) and family poverty (Action for Children). Sarah Priestley, Admiral Nurse at Dementia UK, said: “We’re looking forward to bringing specialist face-to-face support for people affected by dementia to Cwmbran. By partnering with Nationwide, we are able to provide a safe space in towns across the county to ensure our Admiral Nurses are able to reach as many people affected by the condition as possible. “Dementia is a huge and growing health crisis – someone in the UK develops dementia every three minutes and the condition is the leading cause of death in England and Wales. It’s more important than ever that we reach families and individuals affected by dementia and offer one-on-one support from our dementia specialist Admiral Nurses.” Debbie Crosbie, chief executive officer of Nationwide, said: “By working with Dementia UK to fund more Admiral Nurses and turning our branches into dementia clinics, we’re helping to tackle the country’s leading cause of death. As a mutual, we work for the good of society as well as our members. We believe this and Nationwide Fairer Futures will change hundreds of thousands of lives for the better.” To book a confidential and in-person appointment with an Admiral Nurse, visit . The pop-up clinic will be in Cwmbran on December 17, 18 and 19.
Daiwa Securities Group Inc. increased its stake in BioMarin Pharmaceutical Inc. ( NASDAQ:BMRN – Free Report ) by 7.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,006 shares of the biotechnology company’s stock after purchasing an additional 1,185 shares during the period. Daiwa Securities Group Inc.’s holdings in BioMarin Pharmaceutical were worth $1,266,000 as of its most recent SEC filing. Several other institutional investors also recently modified their holdings of the stock. AGF Management Ltd. bought a new position in BioMarin Pharmaceutical during the second quarter valued at approximately $2,563,000. Susquehanna Fundamental Investments LLC bought a new position in BioMarin Pharmaceutical during the second quarter valued at approximately $5,627,000. Teachers Retirement System of The State of Kentucky grew its position in BioMarin Pharmaceutical by 17.4% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 194,207 shares of the biotechnology company’s stock valued at $15,990,000 after acquiring an additional 28,837 shares during the last quarter. E Fund Management Co. Ltd. grew its position in BioMarin Pharmaceutical by 167.4% during the second quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company’s stock valued at $1,110,000 after acquiring an additional 8,438 shares during the last quarter. Finally, Tidal Investments LLC grew its position in BioMarin Pharmaceutical by 65.5% during the first quarter. Tidal Investments LLC now owns 17,447 shares of the biotechnology company’s stock valued at $1,524,000 after acquiring an additional 6,906 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors. Wall Street Analysts Forecast Growth A number of research analysts have commented on BMRN shares. Barclays reduced their price target on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $80.00 target price on shares of BioMarin Pharmaceutical in a report on Wednesday, October 30th. Scotiabank cut their target price on shares of BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a report on Tuesday, September 17th. JPMorgan Chase & Co. cut their target price on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $94.20. Insider Transactions at BioMarin Pharmaceutical In other news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the sale, the executive vice president now directly owns 68,909 shares of the company’s stock, valued at $4,573,490.33. This represents a 7.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website . Insiders own 1.85% of the company’s stock. BioMarin Pharmaceutical Trading Up 0.9 % BMRN stock opened at $66.03 on Friday. BioMarin Pharmaceutical Inc. has a 1-year low of $61.15 and a 1-year high of $99.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. The company has a market capitalization of $12.58 billion, a price-to-earnings ratio of 39.54, a PEG ratio of 0.64 and a beta of 0.31. The business has a 50 day simple moving average of $67.72 and a two-hundred day simple moving average of $77.91. BioMarin Pharmaceutical ( NASDAQ:BMRN – Get Free Report ) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The business had revenue of $746.00 million during the quarter, compared to the consensus estimate of $703.37 million. During the same quarter in the previous year, the company earned $0.26 earnings per share. The company’s revenue for the quarter was up 28.4% compared to the same quarter last year. Research analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.49 EPS for the current fiscal year. BioMarin Pharmaceutical Profile ( Free Report ) BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease. 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Peel Hunt: 'Missing piece' in Reeves' City growth pushThe world stands at the dawn of a “third nuclear age” in which Britain is threatened by multiple dilemmas, the head of the armed forces has warned. But alongside his stark warning of the threats facing Britain and its allies, Admiral Sir Tony Radakin said there would be only a “remote chance” Russia would directly attack or invade the UK if the two countries were at war. The Chief of the Defence Staff laid out the landscape of British defence in a wide-ranging speech, after a minister warned the Army would be wiped out in as little as six months if forced to fight a war on the scale of the Ukraine conflict. The admiral cast doubt on the possibility as he gave a speech at the Royal United Services Institute (Rusi) defence think tank in London. He told the audience Britain needed to be “clear-eyed in our assessment” of the threats it faces, adding: “That includes recognising that there is only a remote chance of a significant direct attack or invasion by Russia on the United Kingdom, and that’s the same for the whole of Nato.” Moscow “knows the response will be overwhelming”, he added, but warned the nuclear deterrent needed to be “kept strong and strengthened”. Sir Tony added: “We are at the dawn of a third nuclear age, which is altogether more complex. It is defined by multiple and concurrent dilemmas, proliferating nuclear and disruptive technologies and the almost total absence of the security architectures that went before.” The first nuclear age was the Cold War, while the second was “governed by disarmament efforts and counter proliferation”, the armed forces chief said. He listed the “wild threats of tactical nuclear use” by Russia, China building up its weapon stocks, Iran’s failure to co-operate with a nuclear deal, and North Korea’s “erratic behaviour” among the threats faced by the West. But Sir Tony said the UK’s nuclear arsenal is “the one part of our inventory of which Russia is most aware and has more impact on (President Vladimir) Putin than anything else”. Successive British governments had invested “substantial sums of money” in renewing nuclear submarines and warheads because of this, he added. The admiral described the deployment of thousands of North Korean soldiers on Ukraine’s border alongside Russian forces as the year’s “most extraordinary development”. He also signalled further deployments were possible, speaking of “tens of thousands more to follow as part of a new security pact with Russia”. Defence minister Alistair Carns earlier said a rate of casualties similar to Russia’s invasion of Ukraine would lead to the army being “expended” within six to 12 months. He said it illustrated the need to “generate depth and mass rapidly in the event of a crisis”. In comments reported by Sky News, Mr Carns, a former Royal Marines colonel, said Russia was suffering losses of around 1,500 soldiers killed or injured a day. “In a war of scale – not a limited intervention, but one similar to Ukraine – our Army for example, on the current casualty rates, would be expended – as part of a broader multinational coalition – in six months to a year,” Mr Carns said in a speech at Rusi. He added: “That doesn’t mean we need a bigger Army, but it does mean you need to generate depth and mass rapidly in the event of a crisis.” Official figures show the Army had 109,245 personnel on October 1, including 25,814 volunteer reservists. Mr Carns, the minister for veterans and people, said the UK needed to “catch up with Nato allies” to place greater emphasis on the reserves. The Prime Minister’s official spokesman said Defence Secretary John Healey had previously spoken about “the state of the armed forces that were inherited from the previous government”. The spokesman said: “It’s why the Budget invested billions of pounds into defence, it’s why we’re undertaking a strategic defence review to ensure that we have the capabilities and the investment needed to defend this country.”Maharashtra Election Results 2024: 'Negative Politics, Parivarvaad Defeated,' Says PM Modi After Mahayuti's Landslide Victory; (VIDEO)
The SEC is a basketball conference now. On Sunday, Missouri (8-1) pulled off a stunning 76-67 win over No. 1 Kansas (7-2) to continue the conference's outstanding start to the 2024-25 season. The Tigers jumped out to a 14-point home lead and held the Jayhawks to 39.7% on their field goal attempts. Missouri had an overwhelming advantage at the free throw line, going 26-of-31 compared to 9-of-11 for Kansas. While SEC commissioner Greg Sankey fumes over his conference receiving three bids in the 12-team College Football Playoff, the conference's basketball domination this season should lower his blood pressure. Missouri's win caps a whirlwind first month of the men's college basketball season for the SEC. The conference has a country-high eight teams ranked in the most recent Associated Press poll. It went 14-2 in a dominant SEC/ACC challenge showing. NCAA.com's Mike Lopresti notes that the SEC was 6-2 in road games in the challenge and won 11 by double digits, including five by at least 20 points. Already this season, No. 2 Auburn (8-1) and No. 10 Alabama (7-2) have wins over No. 17 Houston (5-3) and No. 20 North Carolina (5-4). The Tigers also won 83-81 over No. 6 Iowa State (6-1). No. 4 Kentucky (8-1) beat No. 9 Duke (6-2) in November and No. 7 Gonzaga (7-2) in overtime on Saturday night. Mississippi State (7-1) notched its largest margin of victory against a ranked opponent in program history with a 90-57 romp over No. 18 Pittsburgh. Tennessee, the likely next No. 1 team in the AP rankings, has jumped out to an 8-0 start with an average margin of victory of 26.8 points per game. Per Lopresti's Dec. 5 article, the SEC was 43-15 against power conference opponents (ACC, Big East, Big Ten and Big 12) before this weekend. Per KenPom , Missouri is the third-worst SEC team. During the preseason , SEC media members picked it to finish 13th (out of 16 teams) in the conference. Its win over Kansas is a further sign of the SEC's remarkable 2024-25 depth. The conference is the clear best in college basketball, a fact insider Jon Rothstein noted on Saturday when pointing to the resumes of Oklahoma and Vanderbilt, teams predicted to finish last in the SEC this season. Rothstein wrote that the Sooners "won the Battle 4 Atlantis and [are] undefeated," while the Commodores are "9-1 and 4-0 against power conference teams." Missouri was picked 13th in the SEC and it beat Kansas. Oklahoma was picked 15th in the SEC and won the Battle 4 Atlantis and is undefeated. Vanderbilt was picked 16th in the SEC and is 9-1 and 4-0 against power conference teams. Best league in the country. Not close. https://t.co/kNdAZnbqYw Earlier on Sunday, the SEC took a hit when the CFP selection committee gave the final at-large spot in the 12-team playoff to the ACC's SMU over SEC giant Alabama, leaving the conference with only three representatives (Georgia, Tennessee, Texas). It already appears to have more national title contenders in basketball. Move over, football. The SEC has another sport to run.
StockWatch: Moderna Seeks to Reassure Investors on RFK Jr.
Schmidt scores 19 off the bench, Valparaiso downs Eastern Illinois 81-53Big Ten opponents meet when the No. 2 Ohio State Buckeyes (9-1) and the No. 5 Indiana Hoosiers (10-0) square off on Saturday, Nov. 23, 2024 at Ohio Stadium. What channel is Ohio State vs. Indiana on? What time is Ohio State vs. Indiana? Ohio State and Indiana play at noon ET. Ohio State vs. Indiana betting odds, lines, spread Odds courtesy of BetMGM Ohio State vs. Indiana recent matchups Ohio State schedule Indiana schedule This content was created for Gannett using technology provided by Data Skrive.SEC Commissioner Takes Shot at Other College Football Conferences on Social Media
Funding-Discount-Losses-Repeat, And No Business model: Is zepto a solution to finding a problem? Just in the middle of the chilly winter of November 2024 came two contradicting pieces of news: The quick commerce Zepto’s cash burn has zoomed to over Rs 250 crore ($30 million) per month in the last two months amid rising competition in the quick commerce space, giving an impression of downfall of the company; Zepto raised $350 million in fresh funding, including investments from top Indian family offices and celebrities, giving an impression of upward momentum of the company. But think again, and you will realise that these are not contradicting headlines; instead, they are in sync with each other. The last two years have been astonishing for Zepto. First, it became the first unicorn of 2023, giving a break to the funding winter . Second, the company received enormous funding in 2024. All this paves the way for the shining success of the quick commerce firm, as it is heading towards an IPO in the coming years. However, when you dive deep and see the rationales, you realise the glitter dust beneath the ‘shining success’. Zepto’s founder , Mr Aadit Palicha, is often in the news, defending the merit of his business model, either through his speeches or his LinkedIn posts describing the astonishing sales of modak makers in Ganesh Chaturthi and Diwali diyas. The recent case was last month, in which he said passion over profit drives Zepto’s $5-billion success. All these may sound soothing to the ears, but passion over profit, with a doubtful business model and no unit economics, does not sound relaxing to the financial portfolio. Why are we saying this? Let’s dive deep. We will try to decode the math of a business and compare it with Zepto to formulate equations and find the optimal solution, if it exists, as we doubt! First thing first—what is Zepto? It is a business. So, to succeed, Zepto has to become equitable to a successful business. Now what is a business? People may have their own perceptions of defining a business, but in general, business is something that can be built, to make money, and sustain in the long run. What is Zepto’s business? Zepto seems to be a terrible business. There is no logic in a 10-minute delivery. When everything shut down during the pandemic, and everyone was grounded at their homes, two Stanford dropouts came up with the idea of 10-minute delivery and pioneered the concept of 10-minute delivery in India. At first, everyone was sceptical about them, but then investors poured money like floods, and it enticed all the big players in the market to join the bandwagon. Soon, however, the shining success of 10-minute delivery faded away, and the no-unit economic model of 10-minute delivery started pinching everyone’s eyes. The very famous shark, Mr Ashneer Grover, in April 2023, came out publicly to address the idea that The 10-minute delivery has no economics. Taking to X, Grover, who previously was a core team member of Blinkit, another quick commerce player, during its Grofers days, highlighted key issues with the quick commerce delivery model, such as low ticket size and low margins, arguing that the problem with the ’10-minute’ delivery model was that it had no economics. Mr Grover was not alone in pointing this out. Grover’s negative opinion on the economics of quick commerce delivery has another backer. Mr Hari Menon , co-founder and CEO of BigBasket, the pioneer in online grocery in India, said that consumers never wanted quick delivery and that it was thrust on them. He added that a ‘good sensible’ business that will make sense is 15-30 minute deliveries, which is what companies in this space should chase. On the growth of quick commerce, Menon added that he doesn’t think it will scale that fast. Therefore, going by the words of industry experts like the above, the 10-minute delivery will never be successful, paving the notion of Zepto as a terrible business. Did you ever know that 10-minute delivery is ‘subject to conditions’? In April this year, The Central Consumer Protection Authority (CCPA) reportedly asked quick commerce players Zepto, Blinkit, Swiggy Instamart, and Big Basket (BB Now) to prove their ’10 minute’ delivery claims, asking the companies mentioned above to share median data for delivery times across major cities like Bengaluru, Mumbai, Delhi, Kolkata, and Chennai. The four startups mentioned above heavily utilise the “10-minute deliveries” prospect in their brand messaging. However, this is subject to terms and conditions. The reporting sources further cited a senior government official saying that the companies are not expected to change their messaging yet. If their median delivery times paint a different picture, they will be asked to alter their ads to reflect the actual times. So what you think of 10-minute delivery is actually, many times, a marketing gimmick! See this LinkedIn post, and you will get the facts. Second, a business can only work when there is an audience to buy its output as a product or a service. So, will Zepto always have an audience? The purchasing power of Indians is not so decent. These grocery delivery services, which saw their emergence in the US, have different dynamics than those of India. In the US, the average population density is 38 people per square kilometre. On the other hand, it is 488 people per square kilometer in India. This means that Indians are over 13 times more crammed up in comparison (Maths- 488/38=12.84). In the US, a typical market is about a few kilometres away from an average household or society, while in India, it’s within a couple of hundred meters away. Fetching a few grocery items requires some effort in the US, but it’s just a few minutes walk here. It’s not that big of a problem because of the shorter distances. Moreover, as one moves to smaller towns, the people there are still ingrained into their traditional practices of moving out and getting things from the respective brick-and-mortar outlets. However, owing to the laziness of Indians nowadays, who are ready to pay for their convenience, we can consider that this segment will see zooming growth in the future. But is this real? What segment of people are ready to pay for such convenience? Comparing India’s dynamics with that of the most powerful country in the world, we can see many differences. The United States’ per capita income in 2023 was $69,810, and India’s per capita in 2023 was $2,485, making a difference of 28 times. There’s a very, very small faction of people who can afford to avail of this service on a regular basis in this country. Although there is a rise in the number of middle-class people in the country, the statistics are not so high. The NITI AAYOG CEO, BVR Subrahmanyam, said in September this year that ‘ The middle-income trap is the biggest threat to India’s growth’. For the past 15 years, the incomes of ordinary Indians, those between the top 15% and 50% of the population – have stagnated. The poorest 20% see a rise in incomes due to growing subsidies and handouts. Over 120 million people between 18 and 35 are neither in education nor looking for employment. Do you think in such cases, one can avail of the ‘luxurious quick delivery service’ by choosing the ‘invisible convenience’ over ‘real, decreasing cash’? Seems doubtful. Looking at it from an Indian perspective, when your local kirana or mom-and-pop store is just a stone’s throw away, one’s first thought is why anyone would want to order through a Quick Commerce app unless there is a compelling enough reason to do so. Urban people, particularly in big cities and towns, already have neighbourhood kirana shops or supermarkets that provide free door delivery. Beyond free deliveries, many traditional homes have a ‘khata’ or an ‘ongoing account’ with their next-door grocer, which allows them to place orders over the phone and pay at their leisure, with no interest fee, or platform fee, or rain fee , or illegitimate charges. So why should one opt for a grocery delivery app when they have their own kirana available in their neighbourhood? But there is a twist here. According to a report by Datum, Kirana stores’ market share fell from 95 per cent in 2018 to 92.6 per cent in 2023 and is projected to drop further to 88.9 per cent by 2028, highlighting the growing preference of consumers for online grocery shopping. But will this inclination be forever, or will it grow? To resist this attack, kirana stores are in no way keeping quiet. Several Kirana stores are adopting innovation. Kirana store owners are trying to adapt to the digital era by utilising WhatsApp, accepting purchases online, upgrading their invoicing systems, and even redesigning their store layout and selling methods. Though the battle with quick-commerce platforms may ultimately prove too difficult to win, these Kirana stores are leaving no stone unturned. Those who have access to funds and resources and have the financial means to invest in technology or redesign their stores to attract customers are definitely going a mile ahead, and those who haven’t these are exploring the method of defining their selling strategies and prices to retain customers. For the time being, many Kirana stores rely on long-standing relationships with customers to provide personalised care and a hands-on shopping experience that quick-commerce platforms cannot mimic. Many are writing new prices for their customers to move back to their physical outlets from the quick commerce platform. An example is from the start of the month, which can be seen in Bengaluru, where a Vendor’s Rs 50 Coconut Ad Takes A Dig At Online Delivery Giants. In what can be described as a “Peak Bengaluru” moment, a local vendor was seen offering his coconuts at a significantly lower price than the delivery platforms. His affordable pricing, as well as the striking difference with Blinkit, Zepto, and BigBasket, has become a talking point on the internet. Though the survival of these Kirana stores is harsh, as said above, there are chances that the Kiranas are not going to accept defeat so easily, giving tough competition to the sustainability of the quick commerce companies in general and to the 10-minute delivery in particular. Also, there is always the entry of a new player. Strategically, one problem with the industry is the low entry barriers, which implies it is easy for new competitors to keep down the profits. New apps are emerging that offer similar services by connecting customers directly with local stores. For instance, ‘My Kirana’ in Pune allows customers to order from their local Kirana stores via an app, ensuring fast delivery without the need to use Zepto. These apps pose a potential threat by taking away customers from established quick commerce platforms. The audience of quick commerce-who are now chasing convenience, will tend to shift in reverse one day, giving a dent to quick commerce! The biggest patrons of quick commerce are urban affluents, millennials, Gen Zs, bachelors, DINKs (Double Income No Kids), and young and middle-aged urban households who are perennially time-starved and die-hard convenience seekers . In particular, GenZs are the largest users of quick commerce, while most people above the age of 35 seem to still prefer traditional retail. One may say that Gen Z is going to be the future, and hence, the zooming pattern of Zepto and other quick commerce players will be seen moving exponentially upwards. However, there is a catch. The so-called Gen Z and young millennials are the offsprings of Generation Y, who have worked hard enough to take themselves and their families from poor, lower middle-class levels to the decent middle-class and upper levels. Since these Generation Y candidates have seen enough financial strains in their earlier days, which have strained the dreams of many, hence they have tried to provide not only the basic amenities but also the luxuries to their offspring without any hesitation and curbed finances, which eventually made the younger millennials and the Gen Z prone to the quick commerce markets. However, as times are moving and these younger millennials and the Gen Zs are trying to stand on their own feet and enter the maturing stages of lives, they are supposed to become more conscious about their finances and may not opt for choosing convenience and speed, that is the only core offering of this quick delivery and 10-minute delivery segments. As these young cohorts will enter into the mature stages of parenting and saving, they are expected to divert these funds of convenience shopping towards the education and lifestyle arrangements. Therefore, the viability of the quick commerce segment and the 10 minute delivery will again be seen under the sword of survival! As Generation Z grows and develops expertise in finances, they may become less impulsive in their purchase decisions and behaviours. Quick commerce, which relies on quick pleasure, may be less appealing to them than it was when they were younger. They may choose to plan their purchases more carefully, using traditional retail or subscription arrangements. Furthermore, as these young cohort become more financially independent and concerned about the environment, they may move with brands that promote sustainability. Quick commerce, with its emphasis on speed and the significant carbon footprint associated with fast delivery, may be less desirable if these services do not line with their environmentally conscientious beliefs. See this example from September 2024, where a Zepto User’s Rs 60 Order Comes With Rs 112 Extra Fees. Netizens were quick to cry about the ‘scam’. So, do you think there will always be an audience for whom the convenience over cash will be so great that they pay double for the price of the product purchased? Think! Also, with the large behemoths offering free delivery services, customers will eventually become hesitant to pay for delivery charges, especially in the above case. Customers are so sensitive to delivery charges that they will even look around multiple options before finding one that isn’t charging any. Consequently, startups are forced to offer free deliveries or risk losing clients. Navneet Singh, CEO and co-founder of PepperTap, which was the third largest grocery delivery startup in India (with USD 50 million in raised capital) before it exited the business in 2016, cited this issue as one of the chief reasons why this vertical isn’t working in India. Third- There is nothing more than discounts. Not only Zepto but every other company is playing on discounts. It seems that a discounting war can be seen between companies. These businesses often suffer from a lack of customer loyalty, and the grocery delivery vertical is no different. Customers do not really care which startup they are ordering from. All they care about is how much it costs them. So often, it comes down to which brand offers more discounts. The customer will just keep shifting from one option to another depending on where they are getting more discounts. This degenerates the entire industry into cutthroat discounting and price wars. Today’s consumer is more concerned with the cost supplied by using the brand rather than the logo itself. Because the consumer is loyal to the price supplied by the brand rather than the logo itself, continually improving the pricing proposition is the only option left for firms to survive in the market. Talking about Zepto, there is no doubt that they have spent enough in acquiring customers. Not only about acquiring new customers, zepto is has been offering lucrative salary hikes to attract employees from competitors like Swiggy Instamart, Blinkit, and other quick-commerce boys. In addition to its talent-focused strategy, Zepto has been spending heavily on marketing, with nearly ₹120 crore of its monthly cash burn allocated to digital marketing alone. Therefore, the sustainability of companies like Zepto is prominently based on cash burning and, colossal funding and nothing more, at least as of now. Fourth- Operational efficiency seems to be zero at zepto! Zepto is an operational nightmare. It’s tremendously expensive, insanely messy, and very “people-heavy.” It’s not only people; it’s also quite capital-intensive. Every dark store in this firm costs something, and if you look attentively, the prices are enormous! Space, labour, machinery, training, packing, delivery vehicles, and so forth! Zepto’s overall costs for FY23 were Rs 3,350 crore, up from Rs 533 crore in FY22. The establishment of around 100 new stores accounted for a significant amount of these costs. Moreover, as Zepto plans to enter into tier 2 and tier 3 cities, which have even more congested spaces, this problem of dark stores will emerge even bigger, as the presence of dark stores in dense neighbourhoods can torment residents due to the nuisance value. Affordable spaces are becoming increasingly scarce, and in September 2024, brokers noted Blinkit, another quick commerce, was actively looking to expand its dark store presence in Bengaluru but is struggling to find available properties. If problem arises with the market leader itself, then sooner or later, it will take zepto it its arms as well. Then, the 10-minute delivery, as mentioned earlier, is also a compromising model in itself. In the case of e-commerce, which was the pioneer of online delivery, the delivery time is generally 2-3 days. The deliveries are clubbed together location-wise, and the delivery executive travels through the locations to deliver them on a single trip. Also, in case of extended delivery times, like 30 minutes to 1 hour, a delivery executive can load a maximum of 10 orders in his bag, he’ll set off to sail when he gets those 10 orders and deliver them in one single round trip. This way, the number of deliveries per person per day will increase. However, in the case of 10-minute delivery, the delivery executive has no choice but to take a separate trip (starting from the hub) to deliver every single order, making the number of deliveries per day less. Moreover, on paper, there are no piss breaks, heatstrokes, bike malfunctions, accidents, navigation errors, etc., counted. Also, quick commerce apps are frequently used for small, spontaneous purchases. For example, someone making a sandwich might order just bread, cheese, and tomatoes. These small orders make it challenging for companies to turn a profit . If companies try to impose a minimum order value, they risk diminishing the convenience factor that attracts users to quick commerce in the first place. Although there have been sales of electronics, iPhones, and even gold coins through Zepto, how much these products will benefit zepto is a point of question. So, betting on a 10-minute delivery seems doubtful! Conclusion. If there is no definite point of satisfaction that justifies the existence of quick commerce and 10 minute delivery, then why investors are injecting funds to zepto like anything? Not only investors but also big family offices and celebrities in India are pouring their money into Zepto. Why? Big players are looking for these fledgling 10-minute delivery startups, such as Zepto, to float on the stock exchanges so that they can cash cows before it is known whether the model will ever make money. Currently, these services are majorly funded by venture capital. However, without profits, as there is no sustainable business model of 10-minute delivery, funders may quickly find these operations less appealing. Then, when cash ends, either the startup will nearly shut, as seen in the case of Dunzo , or there is a more appealing route- the IPO! Funding-Discount-Losses-Repeat, as cash is the king, and the public can be made to dance inside the IPO ring? Wait, let me tell you, the above appeal factor is for the investors and the startup owners and not for the general public. In the end, investors will take multiple sums of returns from their cash procured into these companies, and hence, since the business model is nothing but cash burning and colossal funding , in the end, the retail investors and general public will bear the brunt of these cash collapses, via the route of IPO . And if, these services, companies like Zepto survive, as a result, these services are only likely to operate in areas with high-density affluent populations in big cities like Delhi, Bengaluru, and Mumbai, or where there is affluent public, way farther from the middle-income class, making the startup a zombie startup.
Golden at-bat idea brings critics to the plate: 'Absolutely stupid and ridiculous'The Communist Party of India (Marxist) [CPI(M)] has disbanded its area committee in Karunagapally, Kollam, after alleged dissensions at the local party conference spilt into the open on Sunday, resulting in fisticuffs and adverse news coverage that appeared not to bode well for the party’s attempt to project a united face during the crucial organisational process. CPI(M) State secretary M.V. Govindan told reporters in Kollam on Sunday that an ad hoc committee will complete the conference process. He said certain party members had crossed a line by feuding openly instead of seeking the intervention of higher committees. The area committee failed to ensure the smooth conduct of the area conference. ‘Brazen indiscipline’ Mr. Govindan said the infighting in the Karunagapally area committee was a clear case of brazen indiscipline and violation of the CPI(M)‘s centralised democracy line. The ad hoc committee would investigate the chain of events and report to the higher committees. Mr. Govindan said the fissures in the party were confined to one area committee out of the seven in Kollam district. The bickering would have scarce impact on the State conference in 2025. The CPI(M) also reportedly faced rumblings of dissent in other regions. For one, Bipin Babu, a member of the Alappuzha area committee who serves as an elected member of the district panchayat from Krishnapuram, joined the BJP on Saturday. The CPI(M) scrambled to save face by stating that the party had disciplined Mr. Babu for alleged personal misconduct and exit would have no tangible impact on the party in Alappuzha. Mr. Babu told reporters in Alappuzha that a clique of communal forces controlled the party. “CPI(M) has lost its secular character. A particular section of people helms the party. It has ceased to be broad-based at the leadership level,” he said. Mr. Babu’s exit comes after the BJP’s good showing in the Alappuzha district in the Lok Sabha polls. Mr. Govindan had blamed “the rightward drift in Ezhava votes and the Hindutva bearing of the SNDP leadership” for erasing the party’s traditional backward class votes in its traditional steadfastness. In Pathanamthitta too Moreover, the allegedly diminished role of CPI(M) leader and former Minister G. Sudhakaran in the party in Alappuzha district has also reportedly caused dissatisfaction within the party rank and file. The CPI(M) has said the propaganda was a figment of the right-wing media’s feverish imagination and Mr. Sudhakaran had an inalienable role in the party’s leadership. The CPI(M) is also poised to assuage a section of disgruntled rank and file in Pathanamthitta over the credibility of the police investigation surrounding party leader P.P. Divya’s suspected role in the alleged death by suicide of former ADM Naveen Babu in Kannur. BJP State president K. Surendran said the CPI(M) could no longer keep a lid on the deep-seated internal divisions plaguing the party and more of the party’s rank and file would seek safe harbour in his party’s nationalist political agenda. Published - November 30, 2024 08:48 pm IST Copy link Email Facebook Twitter Telegram LinkedIn WhatsApp Reddit
