Raghavendra Kamath, Business Standard Mumbai, March 6, 2014 According to the Internet & Mobile Association of India, the e-commerce sector had grown from $3.8 bn (Rs 23,560 crore) in 2009 to $9.5 bn (Rs 58,900 crore) in 2013. The share of e-tailing had grown from 8% in 2009 to 16% in 2013. And while they are not physically present in this country, some of the largest US-based retailers — JC Penney, Nordstrom, Macy’s, Ann Taylor — are increasingly betting on “shipping to India” or selling their products here through their e-commerce portals, to test the waters. Most of these portals…
Raghavendra Kamath, Business Standard Mumbai, March 3, 2014 Half of international brands which are present in the country had entered the local market through franchise or distribution agreements, said a new study. The logic for opting for this route is to gain control in terms of the product, price and partly the retail experience, said a study by retail consultant Third Eyesight. "Amongst the new brand launches this year (2013), many are luxury or bridge to luxury brands. For such brands, the low volumes may not justify India-specific sourcing to meet the 30% local sourcing clause of the FDI policy.…
Ankita Rai, Business Standard New Delhi, February 15, 2014 Beware when you see 50 per cent off online on your favourite Chanel, Birkin or Louis Vuitton bag that you have been eyeing for long. Chances are it is a Chinese piece of art and a perfect imitation. While e-commerce websites are hailed for the wide assortments and discounts they offer, the medium has come under fire for increasing sales of counterfeit products. A recent Assocham report puts the size of the fake luxury products market in India at Rs 2,500-3,000 crore. That is 5-6 per cent of the overall luxury…
2013 has been a mixed year for retail in the Indian market with multiple factors working in favour of and against the business prospects. Economic growth had slowed to 5% for 2012-13 (as per advance estimates by The Central Statistics Office, Government of India), down from 9.3% in 2011. The ray of hope is that the growth rate is expected to rebound to 6.8% in 2013-14. Spiralling inflation, with prices of some basic vegetables shooting up almost eight to ten times, distracted the consumers from discretionary spending. The year hardly saw irrational expansions by retail businesses as they primarily focused…
Anjana Pasricha, Voice of America New Delhi, February 14, 2014 In India, two newly elected state governments have rolled back decisions to allow the entry of foreign supermarkets. This is yet another blow to the country’s hopes of winning foreign investment in the retail sector, and could further shake global investor confidence in India. The decision by the northern Rajasthan state earlier this month to bar foreign direct investment by overseas retail chains such as Walmart followed a similar move by Delhi. New local governments took charge in both states in December -- led by the Bharatiya Janata Party in…
Geopolitical friction has again sparked renewed concerns over inflation and rising input costs for FMCG companies as @itmeansjustice @whysnavi write. @devangshu commented.
