Remember the year 2000? After Y2K passed safely, that year some optimistic analysts predicted that India’s modern retail chains would reach 20 per cent market share by 2015. Two years after that supposed watershed, another firm declared that modern retail will be at around that level in 2020 – but wait! – only in the top 9 cities in the country. Don’t hold your breath: India surprises; constantly. As many have noted, “predictions are tough, especially about the future!” What we can do is reflect on some of this year’s developments that could play out over the coming year. In…
Written By Writankar Mukherjee KOLKATA | MUMBAI: Retailers have advanced their end-of-winter and year-end sales by one to two weeks this year after business in November turned out to be flat or lower than a year earlier, poor consumer sentiment and predictions of a warmer season. Ecommerce marketplaces Amazon and Flipkart, too, have lined up promotions this month and next to clear inventory, three executives said. Discounts will be offered across a range of products, including electronics and smartphones, they said. According to Yogeshwar Sharma, executive director of Select CityWalk mall in south Delhi, shopping has become offer-driven now and…
Anil Rai Gupta is scripting the growth story of the Havells Group with strategic acquisitions, technology adoption and rural expansion Written By MANU BALACHANDRAN We want to be something like the Apple of electrical products. We want to be a premium mass electrical company: Anil Rai Gupta, chairman and managing director, Havells India Anil Rai Gupta is well into his fifth year at the helm of Havells. With each passing day, the 50-year-old can’t help but realise the striking similarities he shares with his father, Qimat Rai Gupta, when it comes to matters of running the ₹10,000 crore Havells Group.…
Written By Sagar Malviya, ET Bureau MUMBAI: The world’s biggest furniture retailer Ikea sold goods worth about Rs 2 crore every day on an average in its first year of operations, crossing Rs 400 crore in FY19 total revenue from its maiden store opened last August. This is a revenue record for any brand in the country from just one store -and in its debut year - in a market otherwise considered extremely value conscious. Source: economictimes
Written By Varuni Khosla NEW DELHI: Black Friday sale is catching up in India, with a spectrum of brands betting on the US ‘shopping day’ to lure discount-hungry consumers to make that impulsive purchase they'd been resisting. Many brands and retailers both offline and online, including H&M, Myntra, Shoppers Stop, Canali and RealMe are offering up to 50% discount on select products across their range for three days. At Palladium Mall in Mumbai, Reliance Brands-owned Canali, Salvatore Ferragamo, Emporio Armani, Brooks Brothers and Hugo Boss are offering up to 40% discount, while Aldo Shoes is giving flat 50% off. H&M…
Geopolitical friction has again sparked renewed concerns over inflation and rising input costs for FMCG companies as @itmeansjustice @whysnavi write. @devangshu commented.
