The title of this post is from a Winston Churchill quote that I came across a few days ago. I thought this is a must-have on the desk of every entrepreneur in the current times to look at every day, maybe several times each day. But why only entrepreneurs? Any one and everyone who has been touched or fears being touched by the economic downturn needs to keep this thought in mind. A few days ago I heard an impassioned monologue from an entrepreneur, founder of a mid-sized listed brand manufacturer & retailer in India, when the first two of…
"The Indian consumer is a damn tough customer", said a senior manager a large retailer in India. But is it really so? Let's understand that the Indian consumer is "value conscious" and not "cost conscious": She'll buy extra kgs of rice for a discount but not atta (the quality of properly stored rice enhances with time; atta deteriorates ...... she knows it). The discount offered should definitely be higher than her "return on capital" involved in buying the inventory (however miniscule the capital involved may be). The Consumer is Smart: If we try to sell him a branded pressure cooker…
The Textile and apparel industry is of particular importance to India. It not only provides employment to a broad base of semi-skilled and unskilled labour but also helps to extend the economic bounty to urban and semi urban areas. Though India has a history of thousands of years in global trading of textile, it contributes only 3% to the global exports of textile and clothing. While the urge to grow exists, there is a huge difference between the current exports of about Rs. 864 billion (US$ 20 billion) and the target of Rs. 2,500 billion (US$ 55 billion) by 2012.…
Devangshu Dutta In a departure from popular retail philosophy, Devangshu Dutta calls for a new model of food supply based on multiplicity and diversity. Modern retail must, he says, take into account the changing environment and be sensitive to evolving consumer preferences and to the failures and obsolescence of traditional mass retail models adopted by western developed markets. Devangshu Dutta is chief executive of Third Eyesight, a management consulting firm focused on consumer products and retail, whose clients include brand leaders and some of the largest companies in their respective markets. Food price inflation it is still hogging the headlines.…
About Third Eyesight Third Eyesight is a consulting and management solutions firm focussed on retail and consumer products. Third Eyesightโs professionals have deep and extensive experience in the lifestyle merchandise sectors (such as textiles, apparel, accessories, home, footwear and other products). Clients that have benefited from Third Eyesightโs experience and expertise include Indian and international retailers, brands and manufacturers, private equity & venture investors, suppliers to the retail sector, as well as government agencies and industry bodies. Third Eyesight has worked with companies that are market leaders (with annual sales of over US$ 80 billion) as well as early-stage and…
Geopolitical friction has again sparked renewed concerns over inflation and rising input costs for FMCG companies as @itmeansjustice @whysnavi write. @devangshu commented.
