MG Arun, India Today Aug 31, 2024 Nearly five years after the Centre brought in norms to rein in multinational e-commerce companies operating in India, Union commerce minister Piyush Goyal sparked fresh controversy by raising concerns over the rapid expansion of e-commerce. He also drew attention to the pricing strategies used by some e-commerce firms, questioning what he termed “predatory pricing”. “Are we going to cause huge, social disruption with this massive growth of e-commerce? I don’t see it as a matter of pride that half our market may become part of the e-commerce network 10 years from now; it…
Writankar Mukherjee & Navneeta Nandan, Economic Times 24 August 2024 Quick-commerce operators such as Blinkit, Swiggy Instamart and Zepto are aggressively trying to lure away consumers from large ecommerce platforms like Amazon and Flipkart by matching their prices across groceries and fast-selling general merchandise, triggering a price war in the home delivery space. This is a departure from the earlier pricing strategy of quick-commerce players who typically charged 10-15% premium over average ecommerce marketplace prices for instant deliveries, industry executives said. The strategy now is to win consumers from large ecommerce at a time when urban shoppers increasingly prefer faster…
Ratna Bhushan, Economic Times New Delhi, 19 August 2024 Close to a dozen small to mid-sized global cafes and restaurant brands have either entered India in the past two quarters or are in talks with local players at a time when large global chains are seeing sharp decline in same store sales and growth. Mid-sized global chains are making investments even in a modest range of Rs. 20-30 crore to tap select cities and intend to keep store counts under about 30 to stay profitable on each store. This is in contrast to earlier times when cafes and chains entered…
Sagar Malviya & Faizan Haidar, Economic Times 19 August 2024, Mumbai/New Delhi About a dozen listed lifestyle, grocery retailers and quick-service restaurants (QSRs) reduced their employee count by nearly 26,000 in FY24, retreating from the hiring spree of the past two financial years after they slowed down store expansion rate amid weakening demand. According to their latest annual reports, the reduction was completely led by five retailers - Reliance Industries' retail arm, Titan, Raymond, Page and Spencers - which saw their combined workforce decline 17% or by 52,000 people. The staff count was across permanent and contractual employees and adjusted…
Faizan Haidar, Economic Times 10 Aug 2024, New Delhi Japanese apparel major Uniqlo's sales growth in India slipped by more than half to a still-strong 32% last fiscal year while its net profit expanded by 25%. The Indian unit of Asia's biggest clothing brand posted a net profit of ₹85.1 crore for the year ended March 2024 with net revenues of ₹824 crore, according to its latest filing with the Registrar of Companies (RoC). Uniqlo India had posted a profit of ₹68.1 crore with sales of ₹625 crore in the previous year. Its on-year revenue growth was 69% in FY23…
Japanese apparel major #Uniqlo's sales growth in India slipped by more than half to a still-strong 32% last fiscal year while its net profit expanded by 25%.
@FaiHaider @devangshu
#fashion #India #growth
"Focus on store productivity usually happens in cycles...if some of the stores are unviable, then management teams are now highly objective and will shut stores." @devangshu @SagarMalviya_ET @RicaB_ET
#India #retail #reliance #RelianceRetail #productivity
Companies are focusing on rationalizing networks and controlling costs to sustain operations amid weak demand and external challenges like heatwaves and elections. #India #retail #consumption #demand #realestate #storeproductivity @writankarm @devangshu
Packaged #food companies in #India - including multinationals - are being pushed to reduce sugar and salt in their processed food products, both by the consumers and by the regulator. @sharleendsouza @devangshu
#processedfood #health #nutrition
We're excited to welcome Devangshu Dutta, Founder of @ThirdEyesight, to our distinguished jury for the ET Retail Shopfwd Awards 2024! 🏆✨ Join us in celebrating retail excellence.
