If you’re like me, then at any given point of time you have a vague idea about what is in your refrigerator, but not quite. That must why we end up buying stuff that duplicates what is already in the fridge. Here’s an example of what that translates into for me: A second bottle of chilly sauce, when the first one is only half-way through Three semi-consumed jars of jams and preserves, none of which look anywhere near finishing for the next couple of months Three packs of juice because one came “free” with two others (and all open because…
Differentiation is the key to surviving and thriving in tough times. In the lifestyle products sector (apparel, footwear, home, etc.) a big difference is the product design itself. More than ever, it is vital for Indian companies - brands, suppliers as well as retailers - to develop their own design and product development team, in the shortest time. The team, including designers, merchandisers, buyers, sourcing people, textile and apparel manufacturers - must sharpen their skills in reading the market trends and in developing new products that can make their brands or retail stores stand apart in the customer's eyes. To…
I recently had the opportunity of window shopping with some friends visiting India and it was interesting to note how visitors to India from different continents react to the retail prices of the products of the international brands available in the Indian market. Friends from Europe (specifically from the UK, which is a relatively expensive country to live in) were pleasantly surprised to find the prices of some of the products of international brands such as L’Oreal, Tommy Hilfiger, Marks & Spencer and Levi Strauss cheaper and they extended their list of things to buy from India at the cost…
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…
Speciality Restaurants expanding into high-margin QSR and cloud kitchen spaces - @devangshu shared his perspective on the opportunities and realities of managing a diverse "house of brands" in the food service sector #India #strategy #diversification
Geopolitical friction has again sparked renewed concerns over inflation and rising input costs for FMCG companies as @itmeansjustice @whysnavi write. @devangshu commented.
