Feasibility of Buy Now and Pay Later Trend in Ecommerce

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The “buy now, pay later” (BNPL) trend in e-commerce has gained significant popularity in recent years, and its feasibility depends on several factors, both for consumers and businesses. Here’s an overview of the feasibility of the BNPL trend:

Feasibility for Consumers:

  1. Convenience: BNPL offers convenience to consumers by allowing them to make immediate purchases and spread the payments over time. This can be especially useful for buying high-value items or during unexpected financial situations.
  2. Budgeting: BNPL can help consumers budget more effectively, as they can plan smaller, predictable payments rather than making a lump sum payment upfront.
  3. Credit Accessibility: BNPL can be a more accessible option for consumers who may not have access to traditional credit cards or who prefer not to use them.
  4. Interest-Free Options: Many BNPL services offer interest-free repayment plans, making it a cost-effective alternative to credit cards for those who pay on time.

Feasibility for Businesses:

  1. Customer Conversion: BNPL can boost conversion rates by reducing cart abandonment rates and encouraging consumers to make purchases they might otherwise postpone.
  2. Higher Average Order Value (AOV): Businesses often report increased AOV when customers use BNPL services, as consumers may feel more comfortable making larger purchases.
  3. Competitive Advantage: Offering BNPL can be a competitive advantage, attracting consumers who prefer this payment option and potentially increasing customer loyalty.
  4. Marketing Partnerships: Some BNPL providers offer marketing partnerships that can help businesses reach a broader audience and drive sales.
  5. Risk Management: Businesses must carefully assess the risk of offering BNPL, including the potential for increased default rates or late payments, which could impact cash flow.
  6. Integration and Costs: Implementing BNPL solutions can involve integration with e-commerce platforms and additional costs, such as fees charged by BNPL providers.

Potential Challenges and Considerations:

  1. Late Fees and Interest: If customers fail to make payments on time, they may incur late fees or interest charges, which can be a downside for consumers.
  2. Debt Accumulation: BNPL can lead to debt accumulation if consumers use it excessively and don’t manage their payments effectively.
  3. Impact on Credit Scores: Some BNPL services may report missed payments to credit bureaus, potentially affecting consumers’ credit scores.
  4. Regulatory Concerns: Regulatory authorities in some regions are increasingly scrutinizing BNPL services to ensure consumer protection and fair lending practices.
  5. Competition: The BNPL space is becoming more competitive, with various providers entering the market, so businesses should carefully evaluate which provider aligns with their goals and customer base.

In conclusion, the feasibility of the BNPL trend in e-commerce depends on the specific circumstances and goals of both consumers and businesses. While it offers advantages in terms of convenience and conversion rates, it also comes with risks and considerations that need to be carefully managed. As the BNPL market evolves, businesses and consumers should stay informed about the latest developments and make informed decisions based on their financial needs and preferences.



How to Score a 100 percentile in CAT Exam?

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With three non- engineers and two women, scoring an absolute 100 percentile in CAT 2017, one can imagine the rising level of competition of this rewarding examination. The dedication of Delhi CAT topper 2017 Chhavi Gupta nullifies the myth that work and CAT preparation cannot be balanced. Here are some tips by CAT exam toppers to score a 100 percentile in the next CAT exam:

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  1. Join a good coaching institution

If you are too poor at solving quantitative aptitude questions or get bewildered while solving reason problems, you should definitely start taking regular coaching classes. T.I.M.E and Career Launcher are some of the most renowned institutes for CAT preparation. Some students think that equal attention to every student isn’t given in these institutes, however, according to psychology experts, even the vibes of peer studies can help you boost up your preparation mode.

  1. Balancing Work and Preparation

Most students appearing for CAT examinations are graduates and may already be engaged at their workplace. But, if you dream of achieving more, then balancing work and preparation should be the need of the hour. If you are working, make sure that you invest at least 4 hours of daily problem solving. Besides, subscribe to online test series and make it a point to give at least 1-2 mock tests every week.

  1. The right study material

Though there are tons of study materials available on the market, not everything is worth buying. Materials from popular coaching institutes can be of great help. Besides knowing the tricks and tips from these materials, the following are some of the bibles and basic books for CAT preparation:

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Tip: Buy CAT books and other exam books for cheap with these exclusive Amazon coupons.

Besides these books, if you are not taking offline coaching classes, you should definitely subscribe to online courses for an everyday interaction with experienced faculty, online forums and live doubt clarification classes. When you subscribe for these courses, make sure you pick up a one that provide video lessons, self-paced courses, demo videos, free downloads, study material hand-outs and offline and online test series.

Getting into the IIMs is not everyone’s cup of tea. Hard work, constant determination and motivation and most importantly, the right approach, helps you crack this prestigious exam.



Competition in The world of Digital Technology to Reach Top Rank

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The world is going digital, but do you know where does India stand on the competition in the world of digital technology? According to IMD, India ranks 45th on the Global Competitive Index and is far behind from top countries like Switzerland, Singapore, the UK and the US.

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However, the trend shows that India has taken a swirling leap in the past two years. So, the National Platform is already and it’s just the right time when you can step ahead and establish yourself in the world of digital technology. To reach the top rank, here are some key ways to rule the world of digital technology:

  1. It’s the era of small enterprises and innovative technology and products or services brought by these enterprises under branding schemes like Digital India and Make in India can give you success in no time.
  2. Choose whether you want to become a platform owner (designing & developing), digital partner (using Application Programing Interfaces or APIs), or become a producer or supplier to directly sell goods at marketplaces. Depending on the niche you want to take up, newcomers should consider all the market factors and the scope of growth before choosing your set up.
  3. There are five criteria for a win-win situation- ‘Proposition, Personalization, Partners, Protection and Price’. If you can master and scale all these factors according to the consumer needs, you can reach the top rank in the world of digital technology in no time. One of the current and most popular business models is based on innovation in the field of STEM (Science, Technology, Engineering and Mathematics).
  4. Since large platforms and marketplaces like Amazon and Alibaba are going beyond their traditional limits and expanding their global market presence, it’s important for you to choose a niche that is little unexplored. For example, digitization of niches like Women’s Fashion and Electronics or even blogging are already overloaded and you are quite likely to be left behind, unless you have a unique business model.

With growing use and awareness in the world of digital technology, it is important for us to understand that there is no ‘one rule’ that fits all and you ought to face a dreadful competition. For such a stage, innovation and strategy are the only two keys to rule over the digital market.

  1. Lastly, advertising and trust building are the two factors for attracting the masses. One thing to know here is, that most masses are attracted to what is tagged as ‘free’ or on which coupons and vouchers can be applied.

Other factors to consider for ruling the world of Digital Technology are cyber security issues, privacy control, business policy, price strategy, balance of internal and external monetization and most importantly, mindfulness.



Making Career in Fashion Designing

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Did you know that an average/fresher fashion designer can start his career at ₹ 4, 00, 000 per year? And, if you are creative and an out of the box thinker, then you can even run your own fashion label and become a billionaire! From selection of fabrics and patterns to sketching and designing of products, a fashion designer is not just about glitz and glamour – it requires the x-factor and a persistent hard work to become a fashion designer of some repute.

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Know about yourself

You can choose to become a fashion designer if:

  • You have a descent colour, design and aesthetic sense, eye for details and knowledge of fabrics- to count the least. Just check out with the fashion festival going on at Amazon and Myntra.
  • You are still at the 10+2 level, want to kickstart your career in the quickest time and have an artistic instinct.

A combination of technical and a creative balance is a must.

How to get started?

Unless you have a miraculous luck, you do need to have a formal fashion designer education to step into this world. You can get a Bachelor’s in fashion designing or fashion merchandising after your 10+2. Here you are taught and trained about different fabrics and designs, usage of computer aided design (CAD), project handling and more. Top fashion designing institutes in India are:

  • National Institute of Fashion Technology (Delhi, Mumbai, Bengaluru, Chennai, Patna, Hyderabad, Mohali) – through NIFT Entrance Exam

Fashion Design, Accessory Design, Fashion Communication, Textile Design, Apparel Production, Leather Design

  • Pearl Academy (Delhi) -through Pearl Academy Entrance Exam

Fashion Design, Media Communication, Fashion Styling & Image Design, Interior Architecture & Design, Fashion Business Management, Marketing & Retail Management Luxury Brand Management, Jewellery Design, Branding & Advertising Management.

Future Ahead

The Indian Textile Market is rapidly growing at 17% per year- thanks to online shopping platforms like Jabong and Myntra which have actively involved Indians to dress up and focus on looking good. Thus, looking at the ever increasing demand, the Indian fashion market is starving out of trained professionals, especially those who have an amalgamation of fashion and designing sense, management, technology awareness and communication.

Job Roles

You generally start as an assistant, attached to a reputed fashion designer, and get about 15k to 20k a month. There are different job roles in the world of fashion designing ranging from fabric quality control manager, apparel production manager, cutting assistant, illustrator, and room and outside sales representative etc. Top fashion companies and houses include big names like Ritu Kumar, Rohit Bal, Sandeep Khosla, Tarun Tahiliani, Abu Jani and others.



Preparing for Competitive Exams and Stress Management

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Whether you are planning to join a professional course like MBBS, Engineering or MBA or perhaps willing to get entry into the government sector – cracking competitive exams is the only gate and the biggest hurdle for building a successful career. Here’s how you must proceed about it:
1. Know what is required
Download the previous year Advertisement/ Brochure of the exam and jot down all the necessary points – including eligibility, special cases, number of seats/ vacancy, date of exam, syllabus etc. and then you must start planning your routine accordingly.

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2. How to proceed?
Be it IIT, AIPMT, CAT, UPSC or other civil/ state or government services exam, you must follow the previous year question papers to know what is being actually asked. For instance, if you see the pattern of UPSC exams for the last two years, then, you would find that you would require stressing on Current Affairs and NCERTs, more than anything else. Therefore, knowing the pattern is of utmost importance so that you can save your time and invest your energy in the right track. In today’s competitive exams, tricks and shortcuts play a crucial role. Giving thorough revisions and brushing each chapter with practice tests, helps you to fetch top scores in competitive exams.
You can purchase all your books and study materials, including those from reputed coaching centres at Amazon.com at a discounted rate.
3. Enrolling into a program
You must know that at the end of the day, it is you who have to study. No online/ offline competitive exam study classes can give 100% attention to each student. What is really important is their guidance, practice test series, reviews and doubt solving classes. Before you enrol into any coaching classes, you should keep in mind that:
• It should be of good repute and the ratio of teacher: student should be minimal.
• You must be provided with a series of practice tests every week and the scores should be compared countrywide.
• The coaching centre should conduct doubt clearing sessions for every student.
• It is always better to do self-study for at least 6 hours a day. Join a test series to weigh where you actually stand.
3. Managing Stress
It’s true that until you actually crack the exam, you would eventually be stressed! But trust us- stress can dislocate your mental peace and hamper your concentration. To combat this stressful exam fever, here is what you need to do:

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• First of all, you would need to count on how many days are left for your exam and then accordingly you should start setting your biological clock. Most competitive exams require a preparation time of 6- 8 months at the least, which means you should at least invest 7-8 hours on your studies as a daily routine.
• Though setting time tables generally turn futile, your biological clock won’t! Train your brain to get up at a specific time and never extend your working hours. Good sleep helps you to perform better and apt.
• Keep all your gadgets turned off whilst you study and most importantly, you must constantly assess yourself and strive to improve your scores to be completely stress- free on the big day.
• Spend rest of your time in leisure activity, playing sports, being active and doing ample of exercise to let the oxygen seep into your brain cells and improve your concentration power.
• Eat healthy, eat lots of vegetables and never rely on supplements and junk foods.



Facts that you need to know about Modi’s Demonetization of ₹500 and ₹1000 Old Series Notes

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So are you amongst those who are participating in the India’s biggest economic revolution? While it has certainly brought about nightmares to the corrupt people, black money holders and terrorists, but, it has also boosted up the will power and hope of the unemployed, jobless, poor, middle income families and all others who are holding white money! Here are the facts that you need to know about Modi’s Demonetization Scheme of ₹ 500 and ₹ 1000 Old Series Bank Notes:

  1. Ending the Shadow Economy

Ending the Shadow Economy

One of the prime reasons for PM Modi to announce this overnight demonetization scheme on November 8th 2016 – was to drive away the Shadow Economy. Many of us don’t know about this fact, but in reality, this shadow economy has slowly accounted for a 1/5th of India’s $2.1 trillion GDP, which isn’t reaching to the hands of the state/ fund of India – thus, giving a major blow to the growth and progress of the Indian Economy.

  1. Paving ways for a Cashless Economy

Did you recently see your neighbourhood Chaiwalas and Vegetable Vendors, accepting payments via Free charge or other recharge wallets? Well, Digital Wallets, Online Payments, m-payments, or in short, being cashless – is the new fad. As a part of the revolutionary Digital India Scheme by PM Modi, this is the biggest move to push India’s spending/ saving habits into the cashless mode:

  • What?- Digital Wallets helps you to make cashless transactions and online payments for almost all category of products/ services, ranging from Grocery and Household Items to paying Insurance Premiums, Bills and Fees.
  • Why? – It’s easy, convenient and hassle free (at least you don’t have to worry for cash in this crisis season of #Noteban). And adding more to it, you can additionally get up to 70% discounts or cash backs from these digital wallets using offers like Paytm recharge coupons.
  • How? – You can add up to ₹ 10, 000 (and extend it to ₹ 1 Lac with ID Proof) in your digital wallets like Paytm, Mobikwik, Freecharge, State Bank Buddy, ICICI Pockets or Oxigen Wallet (Apps or Website). Use the money in your digital wallet to pay across all merchants in India that are affiliated to the wallet site. You can also receive and accept payments with shops and friends.
  1. 3. The collections

Did you know that within just 3 days of the announcement, all banks across India were able to receive about 3 Trillion Rupees with about a record breaking 180 million transactions! Well, all of this is certainly not black money, but, this step has at least brought the un-participatory household savings back into the economy – thus, boosting up the value of rupee in the near future.

  1. New Security Features (anti-counterfeit)

Here are some new security features that are added to the ₹500 and ₹2000 bank notes, to stop usage of counterfeit money in circulation.

Paving ways for a Cashless Economy

RBI, Government, Members of the Finance Ministry and the Bankers – all are well aware of the grave situation and the crisis. And all of these hardships are being done with a very positive hope of revolutionizing and giving a power boost to the India’s Economy in the near future.



Indian Education System needs major Amendments

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India was a rich source of knowledge to impart morals, ethics, logic, and technology in ancient days. As per the known Indian heritage we have plenty of evidences in form of vedic mathematics, medicine, art, culture and crafts. They are people pioneered and now still serving as Indian Legacies in respective fields. It is said that people used to travel from far off distances round the world to learn from masters in India. This rich heritage of India is in serious drought.

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Schooling Age: The current education system when talked about from schooling to Universities; many flaws in the system of learning is experienced. An infant at the stage of infancy is compelled to a system of listening to various sounds and images; this very tuning is made at that level giving very little room for the child to grow naturally with natural exposure. Though the system gives a name like IQ etc., the process adopted is totally weird.

There is lot of mental stress on the child when he/she reaches at an age of 2, the child is already in school learning reading and writing methods. There is a constant vigilance of parents and the school on the child in every move made. The age where they are meant to play and have fun is stolen and burdened with loads of books and activities, where this is not the case 20 years back where schools minimum age to admit was 5years.

Pressure of Rankings: The heavy competition scenario lay up by the society drives parents and managements struggle for the best of the best without any confinements or inhibitions. This frenzy of marks or ranking scenario builds up lot of tension on the little ones leading to health disorders. The repercussions of such rankings are not even given a thought by elders is painstaking.

Knowledge Retained: Above all this exercises of training up a child the amount of knowledge garnered and retained is a big question mark. Application of the learnt education is no where seen therefore this is a biggest drawback in retaining. Any knowledge acquired would effectively retain if it is applied properly. Lack of this application leads to average learner when reached to colleges for higher education. The basement itself is not stronger to invite or grasp more load on to the brain is hazardous at the end of the day.

Maturity as a Person: By the time a child grows into a man with all those successful 22 to 25 years of study goes in vain when the ward fails in accomplishing a livelihood to withstand the current society. Compromising on whatever comes our way would only be the way to choose but not the path opted in person. This degradation and lack of quality follows in every move made in life.

All folks following this article give it a thought of necessary intense amendments needed in current system of education before the dreadful day actually arrives! Save Children, the future of India! Save Education!!!

 

 

 



SAP the Trending New Technology for Businesses

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Ever since SAP Systems Application Programming has evolved it has been a repertoire for many businesses. SAP has integrated into ERP world comfortably by marking the importance of its presence and necessity by big companies. This revolution not only transformed companies but also given wide opportunities to the young generation in various fields like finance, HR, Manufacturing, Design, Development, Sales and other departments in an industry.

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How can MBA students manage their time

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We have heard of top business leaders who have yet to strike a balance between their personal and office lives. Effective time management is a concept that can be used well to get the maximum out of 24 hours. The world is a competitive place and one needs to optimize his or her efforts to get the maximum mileage out of a day in order to succeed.

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