Contribution of FMCG Sector in Rural Penetration and Market Reach
Contribution of FMCG Sector in Rural Penetration and Market Reach

Fast-moving consumer Goods are essential and everyday products, like Snacks (chips, cookies, candies), Beverages (soft drinks, juices, tea, coffee) and Packaged foods (cereals, pasta, instant noodles are specifically designed for high demand and frequent consumption. While urban markets have traditionally been the FMCG industry's focus, their growth potential is nearing saturation. This has spurred a strategic shift towards rural areas, where a burgeoning consumer base presents exciting opportunities. The rise of internet access, increasing disposable incomes, and evolving lifestyles in rural India are fueling demand for these goods. The rural markets contribute a significant 39 percent to the total sales of FMCG products, highlighting their immense potential.

This shift has led companies to prioritize rural marketing strategies. Companies are now recognizing the unique needs and preferences of rural consumers.

Let us understand the contribution of the FMCG sector to rural penetration.

One of the key contributions of FMCG enterprises in rural penetration is the distribution network. Companies have developed extensive distribution networks that reach even the most remote villages. This enables them to supply their products to consumers in rural areas, where access to goods and services may be limited. By reaching these rural markets, Companies are able to tap into a vast consumer base and increase their market reach. 

Another factor that contributes to the success is product affordability. The products are generally priced at a range that is affordable to the masses, including those in rural areas. This makes it easier for consumers in rural areas to purchase these products, thereby increasing sales and market penetration. 

The FMCG sector also plays a significant role in creating employment opportunities in rural areas. By setting up manufacturing units, distribution centers, and retail outlets in rural locations, the companies provide job opportunities to local residents. This not only boosts economic development in rural areas but also improves the standard of living for the local population.

Moreover, the sector contributes to the overall development of rural areas by supporting agriculture and allied sectors. Many FMCG companies source raw materials such as fruits, vegetables, and grains from farmers in rural areas. By partnering with local cooperatives and farmers, companies not only ensure a steady supply of quality raw materials but also support the livelihoods of farmers.

India's rural market is also expanding rapidly due to a confluence of factors. Increased internet access in villages is exposing consumers to various goods and brands, shaping their preferences. Furthermore, rising incomes due to improved economic conditions are giving rural residents greater purchasing power. 

Navigating a distinct set of challenges is necessary to fully realize the enormous potential of the rural market. Limited transportation networks and a lack of proper storage facilities, both public and private, create logistical hurdles for distributing products effectively in remote locations. Reaching these consumers also requires a cost-conscious approach. Packaging needs to be affordable, and marketing strategies must consider the limitations of traditional media. Seasonal variations in demand, often tied to agricultural income cycles, add another layer of complexity.

Socio-economic factors like lower per capita income, unequal land ownership, and lower literacy rates further complicate reaching and engaging this audience. 

By addressing these challenges companies can unlock the vast potential of this market and contribute significantly to rural development.

In a nutshell, winning over the hearts and wallets of rural consumers requires a tailored approach from FMCG companies. Understanding their unique preferences, tastes, and spending habits is crucial for developing relevant products and marketing strategies. This not only benefits companies through market expansion, but also creates jobs, supports agriculture, and contributes to the overall development of rural India.

Additionally, respecting the social dynamics and diverse needs within individual villages is essential. By striking a balance between national brand identity and local sensitivity, FMCG companies can build trust and foster long-term success in the rural market.

 

Authored By

Anand Nayak, Co-Founder, Chai Sutta Bar

Anand Nayak, Co-Founder, Chai Sutta Bar

 
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Beyond Borders: How WhatsApp Marketing is Redefining Global Reach for Retailers
Beyond Borders: How WhatsApp Marketing is Redefining Global Reach for Retailers
 

Globalization sees a new dawn every day on the back of flourishing technological advancements in the digital realm of commerce. With a wide range of marketing channels in the digital sphere, brands keep trying newer engagement strategies to reach the right audience. However, several factors and deterrents keep the brands bound from reaching their full engagement potential while trying to market themselves through popular social media channels like Facebook/ Instagram, and email & SMS marketing. These factors involve demographic restriction, premiums for additional services, reduced reach and open rate, etc. Resorting to the universally popular messaging platform - WhatsApp emerges as a powerful tool for modern-day retailers to engage with customers beyond boundaries and go truly worldwide.

WhatsApp has been able to achieve the feat on the back of its one-on-one conversation environment, which enables conversation between customers and brands to remain personalized and private. Reportedly, WhatsApp marketing has aided brands to record a 3x increase in conversions over other traditional marketing strategies.

Enjoying a global user base of over 2 billion and a remarkable message open rate of 98 percent, WhatsApp presents retailers with tangible progress in reaching the targeted audience. WhatsApp’s metrics also offer a high click rate ranging between 45-60%, which translates into great chances of conversion of a lead into a consumer, hence amplifying the retailer’s revenue and reach.

To take charge of the full potential of WhatsApp marketing, retailers can implement a range of strategic initiatives tailored to their business objectives:

  • Broadcast Carousel & Steal-Deal Limited Offers: Impulse buying is common among digital shoppers and retailers can reap the maximum benefit by running time-bound offers through WhatsApp marketing. Persuasive carousel ads on WhatsApp also help double the click rate as compared to traditional broadcasts, which means increased sales and engagement.
  • Abandoned Cart Recovery: Retailers often see their inventories lying unclaimed in virtual carts of shoppers, who then forget the items added to their cart. Sending personalized reminder notifications through WhatsApp can help them recover 25-40 percent abandoned shopping carts into sales. Timing these messages aptly can significantly increase the chances of conversion and help retailers decrease their revenue loss.
  • Send Retargeting Campaigns: It is simpler & much more effective to target users who have shown interest in your WhatsApp communication by clicking the CTA button attached to the message. With a mindful retargeting approach to tap the already engaged audience, retailers can bag increased conversion rates and improve marketing spend.
  • Cash on Delivery (COD) Confirmation: Automating confirmation messages for Cash on Delivery orders via WhatsApp reduces the chances of a return to origin. The order will be confirmed only once the user confirms they wish to proceed with Cash-on-delivery for their order. Moreover, incentivizing these prepaid orders with special discounts helps mitigate payment-related issues.
  • Build an End-to-End Shopping Experience: Retailers & e-commerce owners can build an end-to-end shopping experience for their customers on WhatsApp by sending them Catalogues & enabling payment collection directly within WhatsApp. By transforming the WhatsApp environment into a one-stop shopping destination, retailers can simplify the shopping experience for customers, increasing conversions and sales.
  • WhatsApp QR Code Integration: Unique WhatsApp QR codes can be integrated on the website, within retail stores, and on promotional materials to help initiate consumer engagement. This intuitive feature enables customers to converse with retailers anytime they want on WhatsApp, facilitating engagement and lead generation.
  • Dynamic WhatsApp Chatbot: Customers can be engaged even during non-business hours through automated responses set in dynamic WhatsApp Chatbots. From answering simple queries to prompting product showcases, the chatbot can add value to the customer experience and help catalyse conversions.
  • Click-to-WhatsApp Ads: Running ads on allied social media platforms that bring the lead to your WhatsApp, can help retailers initiate conversations, assist support, and drive sales hassle-free.
  • WhatsApp Button Integration: Channeling website visitors to WhatsApp business chat window through a WhatsApp button placed on the website helps record lead information, which the retailers can later use to target personalized communications in a bid to convert potential buyers.

WhatsApp marketing, hence, showcases a wide range of ways to help retailers expand their reach across the world. By taking up innovative strategies and leveraging the full capabilities of WhatsApp, retailers can witness new opportunities that help them build meaningful connections with customers and increase revenue in the long run.

 

About the Author

Gautam Rajesh Shelley, CEO & Founder of AiSensy

Gautam Rajesh Shelley, CEO & Founder of AiSensy 

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How to Start your T-Shirt Business in the Booming Indian Market
How to Start your T-Shirt Business in the Booming Indian Market
 

The t-shirt business in India is witnessing exponential growth, with its market value currently estimated at Rs 23,211 crore. It is projected to grow at a compound annual growth rate (CAGR) of approximately 10 percent over the next decade, potentially reaching a staggering Rs 61,954 crore by 2027. This surge is driven by several factors, including the increasing acceptance of casual wear, a growing middle class, and a youthful population that favors t-shirts for their versatility and comfort.

1. Understanding and Identifying the Competitive Market:

The Indian market is characterized by a robust presence of both domestic and international brands. The Indian t-shirt market is dominated by men's wear, followed by women's wear and kids wear. In order to succeed in the competitive t-shirt market, it's essential to understand the landscape thoroughly. The women's segment is growing faster due to its smaller base and rising acceptance of casual attire among women. T-shirts are popular across all age groups and include knit shirts, polos, and knit tops, primarily targeting the youth segment.

Key production hubs like Tirupur, Ludhiana, and Mumbai play a significant role due to their well-established ecosystems, skilled workforces, and favorable business conditions. These cities contribute to India’s position as one of the top exporters of t-shirts globally. Notable brands such as Allen Solly, Van Heusen, and Jockey are major players in the Indian market, catering to a wide range of consumers with their diverse product offerings.

2. Identifying the Market for Creating a Successful Business Plan:

Conducting thorough market research is crucial for identifying consumer preferences, market trends, and potential gaps in the market. Understanding the competitive landscape helps in crafting a business plan that outlines the brand's vision, target audience, marketing strategies, and financial projections. Key factors to consider include:

  • Target Audience: To effectively understand and engage with your target audience, it's crucial to delve into their demographics, preferences, and purchasing behavior. Demographically, this involves identifying key characteristics such as age, gender, income level, geographic location, and lifestyle choices that influence their buying decisions. Preferences encompass style inclinations, brand affinities, and product expectations, which can be gleaned from market research, surveys, and social media analytics. Purchasing behavior insights, including frequency of purchases, shopping channels, and decision-making triggers, further refine your approach.
  • Market Trends: Staying abreast of market trends is essential in the fast-paced fashion industry. This involves monitoring runway shows, consumer feedback, and fashion publications to predict emerging styles and consumer demands. Adjusting your product offerings and marketing strategies accordingly ensures relevance and competitiveness.
  • Competitor Analysis: Competitor analysis involves assessing rivals' strengths, weaknesses, and market positioning. This helps identify opportunities for differentiation and areas for improvement in your own offerings.

3. Choosing a Unique Niche and Targeting a New Generation Market Structure:

Differentiation is key to standing out in the competitive t-shirt market. Choosing a unique niche helps in targeting specific consumer segments and creating a distinct brand identity. This could involve focusing on eco-friendly products, customized designs, or themed T-shirts catering to specific interests or communities.

Managing design and production involves ensuring high-quality materials, innovative designs, and efficient production processes. Leveraging local artisans and sustainable practices can also enhance the brand's appeal, especially among environmentally conscious consumers.

4. Choosing a Business Model to Evaluate Your Product:

Selecting the right business model is essential for evaluating and selling your product. Some common business models in the t-shirt industry include:

  • Retail: The retail landscape offers various sales models, each with distinct advantages and considerations. Traditional physical stores or retail chains provide direct customer interaction, fostering personalized experiences and immediate feedback, but often higher operational costs due to rent, staff, and inventory management.
  • Direct-to-Consumer (D2C): Direct-to-Consumer (D2C) models leverage online platforms to sell products directly to consumers, enabling greater control over branding, pricing, and customer relationships. This approach reduces intermediary costs associated with traditional retail, although it requires robust e-commerce capabilities and marketing strategies to drive traffic and sales.
  • Wholesale: Wholesale models involve selling products in bulk to retailers or distributors, ensuring wide distribution and large-volume sales. While this model can lead to substantial revenue through economies of scale, profit margins may be lower due to discounts offered to wholesalers.
  • Print-on-Demand: Print-on-Demand (PoD) allows for manufacturing products as orders are received, minimizing inventory costs and reducing the risk of overstock. Unit production costs may be higher compared to bulk manufacturing, impacting overall profitability unless managed efficiently.

For startups, the D2C model is often advantageous due to lower initial investment and the ability to reach a broader audience through e-commerce platforms.

5. Setting the Right Price:

Pricing strategy is critical in attracting and retaining customers while ensuring profitability. Key factors to consider include:

  • Cost of Production: The cost of production encompasses several key elements crucial for pricing strategies. Materials constitute the raw inputs needed for manufacturing, with quality and availability directly impacting costs. Labor costs involve wages for production staff, reflecting efficiency and local wage standards. Overhead costs encompass facility expenses, utilities, administrative costs, and other operational expenses necessary for production.
  • Market Positioning: Market positioning involves strategically aligning pricing with the brand's perceived value in the market. Premium brands command higher prices due to perceived quality or exclusivity, while mid-range brands offer a balance of quality and affordability. Budget brands focus on competitive pricing to appeal to price-sensitive consumers.
  • Consumer Willingness to Pay: Understanding consumer willingness to pay involves market research and customer feedback to gauge the maximum price consumers are willing to spend on the product. Factors influencing willingness to pay include perceived value, brand loyalty, product differentiation, and economic factors.

Offering tiered pricing with different ranges of products can cater to various segments of the market, from budget-conscious buyers to those seeking premium offerings.

6. The Importance of Creating a Social Media Presence:

In today's digital age, the online presence of a brand is essential. A well-designed website and active social media profiles on platforms like Instagram, Facebook, and Twitter help in:

  • Brand awareness involves strategies to increase recognition and familiarity with a brand among a broader audience. This includes leveraging multiple channels such as social media, traditional media, influencer partnerships, and sponsorships to enhance visibility and reach. Consistent brand messaging and visual identity across these platforms reinforce recognition and establish a strong brand image.
  • Customer Engagement: Customer engagement plays a pivotal role in fostering relationships and loyalty. Interaction through customer service channels, social media platforms, and community forums allows brands to address inquiries promptly, resolve issues, and gather valuable feedback.
  • Marketing and Promotion: Effective marketing and promotion are essential for communicating brand values, product benefits, and promotions to target audiences. This involves developing tailored advertising campaigns that resonate with consumer demographics and preferences. Utilizing data-driven insights, brands can optimize ad placements, refine messaging, and measure campaign effectiveness to maximize return on investment and enhance brand visibility.

Integrating efficient shipment and payment methods enhances the customer experience, ensuring timely deliveries and secure transactions.

7. Marketing and Promotion:

Effective marketing and promotion are vital for driving sales and building brand loyalty. Strategies include:

  • Social Media Marketing: Social media also allows for real-time engagement, enabling brands to respond to comments, address customer queries, and build a community around their products. Utilizing features like stories, reels, and live sessions helps keep content dynamic and engaging.
  • Email Marketing: Email marketing remains a powerful tool for directly reaching consumers with tailored content. By sending newsletters, promotional offers, and product updates, brands can keep subscribers informed and interested. Personalized email campaigns, driven by customer data and preferences, enhance engagement and conversion rates. Automated email sequences can nurture leads, onboard new customers, and re-engage inactive subscribers.
  • Traditional Marketing: Traditional marketing methods, such as print media, billboards, and events, are effective for reaching broader and diverse audiences. Print ads in magazines and newspapers, outdoor advertising like billboards, and participation in trade shows or sponsorship of local events help increase brand visibility and credibility. These channels often complement digital efforts, creating a cohesive and comprehensive marketing strategy that maximizes reach and impact.

Collaborating with influencers and bloggers can also amplify the brand's visibility and credibility.

8. Legal and Financial Considerations:

Compliance with legal and financial regulations is essential for smooth business operations. Key considerations include:

  • Permits and Licensing: Acquiring necessary permits and licenses is essential for legal operation. Depending on the business type and location, this may include general business licenses, health permits, zoning permits, and industry-specific certifications. Researching local, state, and federal requirements ensures that the business meets all regulatory standards. Regularly renewing and updating permits is necessary to avoid operational disruptions and legal consequences.
  • Trademark Protection: Trademark protection involves registering the brand's trademark to safeguard intellectual property. A trademark protects brand names, logos, slogans, and other distinctive elements from unauthorized use. Registering with the appropriate government authority provides legal protection and the ability to enforce trademark rights. Monitoring and enforcing trademarks against infringement ensures brand integrity and market exclusivity.

9. Managing Operations:

Efficient operations management ensures customer satisfaction and business growth. Key aspects include:

  • Customer Service: Providing excellent customer service is essential for building customer loyalty and satisfaction. Effective customer support involves promptly addressing inquiries, resolving complaints, and managing returns with a focus on creating positive experiences. This can be achieved through multiple channels such as phone support, live chat, email, and social media interactions. Implementing feedback mechanisms, such as surveys and follow-up communications, allows businesses to continuously improve their service quality.
  • Brand Analysis: Brand analysis involves the continuous evaluation of market performance and customer feedback to refine strategies and enhance brand positioning. This process includes tracking key performance indicators (KPIs) such as sales data, market share, and customer engagement metrics. Analyzing customer feedback from reviews, surveys, and social media provides insights into consumer perceptions and expectations. Regular brand audits help identify strengths, weaknesses, opportunities, and threats, enabling proactive adjustments to marketing, product development, and customer service strategies.

10. Embracing Technological Advancements

Incorporating advanced technologies can significantly enhance business operations and customer experience:

  • Buy Now, Pay Later (BNPL): Offering flexible payment options to attract more customers.
  • Artificial Intelligence (AI): Utilizing AI for personalized marketing, inventory management, and customer service.
  • Sustainability: Adopting sustainable practices to appeal to eco-conscious consumers and reduce environmental impact.

Conclusion:

The t-shirt industry in India is poised for significant growth, offering lucrative opportunities for entrepreneurs. By understanding the competitive market, conducting thorough research, and choosing a unique niche, businesses can establish a strong presence. A well-thought-out business model, effective pricing strategy, and robust online presence are essential for success. Additionally, compliance with legal requirements, efficient operations management, and embracing technological advancements will further drive business growth and sustainability.

Starting a t-shirt business in today's dynamic market requires strategic planning, innovation, and a customer-centric approach. By leveraging these insights and strategies, aspiring entrepreneurs can navigate the complexities of the market and achieve long-term success.

FAQs on T-Shirt Business in India

1. What are the initial steps to start a t-shirt brand?

Begin by defining your brand concept and target audience. Conduct market research to understand trends and competition. Create a business plan outlining your goals, budget, and marketing strategy. Secure the necessary funding and set up a business structure. Design your t-shirts, find a reliable supplier, and establish an online presence through a website and social media.

2. How do I design t-shirts that stand out?

Focus on unique and creative designs that resonate with your target audience. Use high-quality graphics and stay up-to-date with design trends. Consider hiring a professional designer if needed. Ensure your designs are versatile and can be printed on various t-shirt styles. Test your designs with a small audience to gather feedback before mass production.

3. What printing methods should I use for my t-shirts?

The most common printing methods include screen printing, direct-to-garment (DTG) printing, heat transfer, and sublimation. Screen printing is cost-effective for large orders, while DTG is ideal for small batches and detailed designs. Heat transfer is good for on-demand printing, and sublimation works best for all-over prints. Choose a method based on your budget, design complexity, and order volume.

4. How do I market my t-shirt brand effectively?

Develop a comprehensive marketing strategy that includes social media marketing, influencer collaborations, and email campaigns. Utilize SEO techniques to improve your website’s visibility. Create engaging content such as blog posts, videos, and lookbooks to showcase your designs. Participate in local events and pop-up shops to gain exposure. Consider offering promotions and discounts to attract customers.

5. What are the common challenges in starting a t-shirt brand, and how can I overcome them?

Common challenges include managing production costs, maintaining consistent quality, and standing out in a saturated market. Overcome these by building strong relationships with reliable suppliers, investing in high-quality materials, and continuously innovating your designs. Focus on excellent customer service and create a strong brand identity. Stay adaptable and ready to pivot your strategies based on market feedback.

 

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Top 10 Bicycle Brands in India
Top 10 Bicycle Brands in India
 

The global bicycle market is on a significant upward course to grow from $110.38 billion in 2023 to $228.90 billion by 2030, growing at a CAGR of 11.0 percent. This growth is fuelled by the increasing popularity of cycling, not just as a mode of transportation, but also as a recreational activity and a means to maintain fitness. With its diverse landscapes and a growing interest in healthy living, there has been a surge in demand for bicycle brands in India. Whether you're a professional cyclist, a fitness enthusiast, or someone who enjoys a casual ride, finding the right bicycle is essential. Here are the top 10 bicycle brands in India that cater to all kinds of riders.

Avon Cycles

Top 10 Bicycle Brands in India

The brand showcase the classic example of the enterprising Punjabi spirit. In the early days following India's independence post-partition in 1947, the legendary Pahwa Brothers dreamed of providing the common man with an affordable means of mobility. The organization combines the simplicity and speed of a family business with the broad-based features of corporate functioning. The former inspires trust, while the latter instills confidence in its ability to perform continually and consistently.

The brand is intensifying its efforts to expand both its domestic and international market presence. Known as the largest bicycle manufacturer in India, it has exceeded its FY 23-24 sales target by the beginning of its fourth quarter, achieving a remarkable milestone. With an operating revenue of over Rs 500 crore, the brand is a powerhouse in the industry. J&K Bank has partnered with Avon Cycles Ludhiana to finance their electric vehicle (e-vehicle) range, continuing their proactive, environmentally friendly strategy. This brand is a standout in the list of top bicycle brands in India.

Hero Cycles

Top 10 Bicycle Brands in India

Hero Honda commenced its operations in 1984 as a joint venture between Hero Cycles of India and Honda of Japan. Controlled by Pankaj M Munjal, Hero Motors Company (HMC) is an Indian multinational business conglomerate. The brand name was adopted by the Munjal brothers for their flagship company, Hero Cycles Ltd. The joint venture, named Hero Honda Motors Limited, was established in Dharuhera, India, with the Munjal family and the Honda group each owning a 26 percent stake in the company.

For the fiscal year ending March 31, 2023, Hero Cycles Limited reported an operational revenue exceeding Rs 500 crore. The company’s EBITDA grew by an impressive 323.07 percent compared to the previous year, with its net worth increasing by 8.77 percent. It offers a variety of cycles, from city rides to e-cycles, with prices ranging from Rs 6,050 to Rs 60,999. As one of the top cycle brands in India, Hero Cycles is a leading choice for many.

Firefox Bikes

Top 10 Bicycle Brands in India

In early 2005, the cycling scene in India experienced a dramatic transformation when the brand introduced an imported range of approximately 30 bike models into the Indian bicycle market. This range, covering the full spectrum of mountain, all-terrain, road, BMX, and kids' bikes, was made according to higher international quality standards and specifications, significantly enhancing the biking experience in India. 

Firefox Bikes sold 18,000 cycles and earned revenue of Rs 22.5 crore in the first quarter of FY 2023. Catering primarily to the premium segment, the brand holds an estimated market share of 13-15 percent contributing to being a top bicycle brand. Prices for the bikes start around Rs 11,000 and go beyond Rs 45,000, making it a leading name in the high-end bicycle market in India.

Cannondale

Top 10 Bicycle Brands in India

The Cannondale Bicycle Corporation, an American division of the Dutch conglomerate Pon Holdings, supplies bicycles. In 1971, Joe Montgomery initially focused on making bicycling accessories and clothing, the tiny company challenged the industry in the 1980s by introducing some of the first mass-produced bicycle frames made from aluminum instead of steel. Now, the company has capitalized on the cycling boom that accelerated during the pandemic, including electric models under the nameplate Neo.

Cannondale offers a diverse range of bikes, including road, mountain, active, electric, and kids' bikes, along with biking equipment, gears, and accessories. In 2023, Cannondale reached a new high with an astounding $74.0 million in annual revenue. Known for its dedication to quality and innovation, Cannondale serves a wide variety of cyclists, from casual riders to professional competitors.

La Sovereign

Top 10 Bicycle Brands in India

The first-ever joint venture between companies based in Thailand and India to market high-quality bicycles and kids' toys with world-class designs to Indian consumers. An India-based company has been in the bicycle trade for the past 40 years, establishing a strong brand presence in both the Indian and export markets. As one of the leaders in the trade, the company has attained a high level of technical expertise in manufacturing and marketing over the years

La Sovereign operates with revenue ranging from Rs 1-100 crore for the financial year ending March 31, 2023. The brand is situated in Ludhiana, Punjab, having an authorized share capital of Rs 3.75 crore and a total paid-up capital of Rs 3.65 crore. The company's net worth has increased by 0.24 percent, with starting prices for their bikes around Rs 10,000 on e-commerce platforms.

BSA

Top 10 Bicycle Brands in India

Established in 1949 by the Murugappa Group in collaboration with Tube Investments (UK), TI Cycles has evolved from a bicycle manufacturer to an expert in mobility and well-being solutions. Renowned for its flagship bicycle brands—BSA, Hercules, Montra, and Mach City—the brand has pioneered and perfected numerous cycle categories in India. These include the first-ever MTB, geared bike,  Shox model, girls' bike, kids' bike, light roadster, carbon frame bike, and India’s cycling café. The inaugural Hercules bicycle was produced in 1951, marking the beginning of many innovations. It operates plants in Chennai and Rajpura and maintains major warehouses in Guwahati and Chennai, serving a nationwide network of over 1,200 dealers.

The brand is renowned for launching some of the first bicycles on the Indian market across various categories such as MTB, geared cycles, kids’ cycles, and ladies’ cycles. With a vast price range starting from Rs 1,800-25,000, BSA offers a diverse range of cycles with 62 models currently available on major e-commerce websites. It is undoubtedly among the top cycle brands in India.

Road Master

Top 10 Bicycle Brands in India

An Indian premium bicycle brand and currently the fastest-growing bicycle manufacturing company in India. Established to empower Indian bicycle riders, Road Master Cycles provides highly durable and cost-effective bicycles with a variety of design choices. The brand entered the Indian bicycle market in 2014 with a mission to offer the best value products, cutting-edge technology, and dedicated round-the-clock customer support.

It boasts an authorized share capital of Rs 2,000,000. Within nearly a decade of operation, the company has successfully delivered over 400,000 cycles across India. Offering a diverse range of over 60 models, Road Master Cycles caters to a wide variety of bicycling needs in the country. With a well-knitted network of loyal channel partners, the brand ensures its accessibility and visibility to consumers, further solidifying its position in the Indian bicycle market.
 

Btwin (Decathlon)

Top 10 Bicycle Brands in India

Renowned brand of bicycles, parts, and accessories exclusively available at Decathlon, offers cyclists a perfect blend of style, performance, and affordability. Crafted by expert manufacturers across Asia and Europe, with a touch of French precision added since 2010, these bikes are a testament to quality and innovation. Over the years, Portugal has been instrumental in producing over 1 million bicycles, ensuring top-notch craftsmanship. Not just limited to bikes, B'TWIN also provides a wide range of accessories and parts, all designed to enhance your cycling experience without breaking the bank.

Under the global leader Decathlon, the brand reported an impressive annual revenue of Rs 3,950 crore as of March 31, 2023. With a strong presence in over 70 countries, the brand continues to expand globally, focusing on innovation and sustainability. The bicycles start at around Rs 7,999 and go beyond Rs 26,000, making them accessible to many customers.

Trek

Top 10 Bicycle Brands in India

A bicycle product manufacturer and distributor under brand names Trek, Electra Bicycle Company, Bontrager, and Diamant Bikes. In the past, the business has produced bicycles under the brands Villiger Bikes, LeMond Racing Cycles, Klein, and Gary Fisher. Trek Bicycles is marketed through 1,700 individually owned bicycle shops in North America, subsidiaries in Europe, Asia, and South Africa, as well as distributors in 90 countries worldwide. The brand has its headquarters located in Waterloo, Wisconsin. The majority of Trek bicycles are produced in nations other than the US, such as the Netherlands, Germany, Taiwan, and China.

Trek Bicycle, a leading bicycle brand in India, reports a revenue/turnover of Rs 1-100 crore. The company's net worth has increased by an impressive 98.66 percent, and its EBITDA has risen by 238.31 percent. With global revenue reaching $900.0 million, the bicycle continues solidifying its position as a top bicycle brand in India and a major player in the global market.

Stryder

Top 10 Bicycle Brands in India

It has a large selection of bicycles including E-bikes, Roadster, Kids, Premium, Mountain, and SLR bikes. In India, Stryder bicycles may be found in over 4000 retail locations. In addition to being one of the top bicycle brands in India, Stryder has more than three million satisfied riders worldwide and exports to SAARC, Africa, and the Middle East. 

It is a prominent name in the bike industry, achieved impressive financial breakthroughs with revenue ranging between Rs 100-500 crore. The company's net worth surged by 16.58 percent, reflecting its commitment to innovation, quality, and customer satisfaction. It continues to set benchmarks, ensuring its position as a preferred choice for cycling enthusiasts with a focus on sustainability and cutting-edge technology.

FAQ

What types of bicycles do these brands offer?

  • These brands offer a variety of bicycles including road bikes, mountain bikes, hybrid bikes, electric bikes, kids' bikes, and more.

Where can I buy bicycles from these brands?

  • Bicycles from these brands are available for purchase at their respective dealerships, retail stores, and major e-commerce platforms like Amazon, Flipkart, and Decathlon's online store.

Do these brands offer warranty and after-sales service?

  • Yes, most of these brands offer warranty and after-sales service for their bicycles. The warranty period and service terms may vary, so it's recommended to check with the brand or their authorized dealers for specific details.

How can I choose the right bicycle brand for my needs?

  • To choose the right bicycle brand, consider factors like your budget, the type of cycling you plan to do (road, mountain, commuting), and your specific preferences for features and design.

Do these brands offer bicycles for kids?

  • Yes, most of these brands, including BSA and Giant, offer a range of bicycles specifically designed for kids, ensuring safety and fun for young riders.
 

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Organised Paints Sector to Double Capacity with Rs 19,000 Cr Investment by 2027
Organised Paints Sector to Double Capacity with Rs 19,000 Cr Investment by 2027
 

The organised paints sector in India is on the cusp of a significant transformation, with production capacity poised to nearly double to approximately 7.8 billion litres per annum (blpa) between fiscal years 2024 and 2027. This ambitious expansion will be fueled by investments totaling around Rs 19,000 crore, including significant contributions from a major new entrant.

A substantial portion of this new capacity, about 2.4 blpa, is expected to become operational in the current fiscal year, with the new player alone adding 1.3 blpa. This expansion will primarily focus on the decorative segment, which represents 75-80 percent of the total production. The sector's volume is projected to continue its healthy annual growth rate of 10-15 percent, consistent with historical trends.

Increased Competition and Pricing Strategies

However, this surge in capacity is likely to intensify competition as companies vie for market share. To attract customers and fully utilize their expanded capacities, especially in the value segment, which accounts for more than half of the sector's total revenue, manufacturers might adopt aggressive pricing strategies. Consequently, overall revenue growth is expected to moderate to 7-10 percent this fiscal year. Furthermore, operating profitability is predicted to decline to 15-17 percent due to heightened marketing expenditures and pressure on realisations.

Stable Credit Profiles Amidst Competitive Pressures

Despite these challenges, the credit profiles of existing manufacturers are expected to remain stable. This resilience is attributed to their near debt-free balance sheets and robust liquidity, which is equivalent to nearly one-fourth of their net worth. A study of six major firms, representing approximately 90 percent of the organised sector’s gross sales of around Rs 70,000 crore, supports this outlook.

Poonam Upadhyay, Director at CRISIL Ratings, states, “The volume growth of 10-15 percent this fiscal will be driven by steady demand from retail and business-to-business segments — catering to construction, real estate and automobiles — which is salutary. Rising disposable incomes, increasing consumer preference for quality and branded products, rising home sales and an expected recovery in rural demand will be supportive. However, pressure on realisations will partially offset the benefit of higher volume, tempering revenue growth this fiscal.”

Impact of Pricing and Promotional Strategies

In the previous fiscal year, the sector saw a modest revenue growth of around 4 percent, as manufacturers reduced prices by 4-5 percent through higher discounts and rebates in response to softened crude-linked input prices. This strategy, coupled with increased promotional spending to counter competition, resulted in gross margins rising by approximately 500 basis points. However, operating margins increased by only 300 basis points to around 20 percent from 17 percent in fiscal 2023.

Raw Material Prices and Operating Profitability

The prices of key raw materials, particularly crude-linked derivatives such as binders, solvents, and additives, as well as titanium dioxide, are expected to remain steady. This stability will help maintain gross margins at 40-42 percent this fiscal year. However, due to increased advertising and promotional spending aimed at supporting retail network expansion and reinforcing brand recall amidst intensifying competition, operating profitability is likely to moderate to 15-17 percent from around 20 percent last fiscal year. Additionally, new entrants are expected to face operational losses in their initial years.

Strategic Investments and Diversification

To maintain a competitive edge and broaden their product offerings, existing manufacturers are introducing new products and expanding into non-paint categories such as adhesives, construction chemicals, and waterproofing products. This strategic diversification has led to increased investments in capacity, backward integration, research and development, and technology.

Anil More, Associate Director at CRISIL Ratings, notes, “We expect the credit quality of existing manufacturers to be largely stable despite high capex. They are likely to fund capex through cash surplus and accruals, while new entrants will utilise a mix of debt and fresh equity. While the key debt metrics are expected to moderate, interest coverage and debt/Ebitda ratios of the sample set will stay comfortable at 14-16x and 0.5-0.7x, respectively, in this and next fiscal compared with previous peaks of over 40x and less than 0.1x, respectively.”

Market Dynamics and Future Outlook

The impact of volatile crude oil prices on key raw material costs, currency fluctuations, an anticipated recovery in rural demand, and a higher-than-expected increase in competitive intensity due to new capacities coming online are critical factors to watch. These elements will play a significant role in shaping the sector's future dynamics and profitability.

As the paints sector navigates this period of substantial growth and heightened competition, companies will need to balance their expansion strategies with prudent financial management to sustain their market positions and profitability.

 

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Top 10 Pet Care Brands, Market Reaching $427.75 Bn by 2032
Top 10 Pet Care Brands, Market Reaching $427.75 Bn by 2032
 

The current value of the pet care industry worldwide is expected to skyrocket to $246.66 billion in 2023 and reach $427.75 billion by 2032, indicating unparalleled development in this business. This increase is the result of "paw parents" being more and more committed to the health and welfare of their furry companions, which has led to large expenditures in many areas of pet care. A pet website, Pet Keen, reports that food and treats account for 75–80 percent of pet care costs, highlighting the critical role nutrition plays in pet parenting. The remaining expenditure covers accessories, grooming supplies, toys, and services, highlighting the comprehensive nature of modern pet care.

Best Pet Care Brands in India

From premium pet food that caters to specific dietary requirements to innovative treats that promote health and well-being, here are the top 10 pet care brands with detailed information that are always at the forefront in the Indian market:

1. Super Tails:

Super Tails, a dynamic player in the realm of pet care brands, was founded by Maya Sharma in 2010 with a vision to revolutionize pet wellness. Super Tails has been committed to providing top-notch products and services that prioritize the health and happiness of pets and their paw parents. With a series of successful funding rounds, including a recent $15 million investment led by Pet Ventures in 2023, the brand has solidified its position in the market.

Top 10 Pet Care Brands Dominating the $427 Bn Market

 

What sets the brand apart in the competitive market of pet care brands is its relentless pursuit of innovation. The brand continuously invests in research and development to introduce cutting-edge solutions that address the evolving needs of pets. From advanced nutritional supplements to state-of-the-art grooming tools, Super Tails offers a comprehensive range of products designed to enhance the well-being of pets.

The brand's offerings are formulated with premium ingredients and backed by scientific research, ensuring superior quality and efficacy. Whether it's promoting joint health, supporting digestive function, or enhancing coat shine, Super Tails provides tailored solutions to meet the diverse needs of pets. The brand's dedication to customer satisfaction and pet wellness fosters a strong bond of trust with paw parents.

2. Royal Canin:

Royal Canin, a renowned name in the pet care industry, has established itself as a leader by prioritizing the health and well-being of pets through scientifically formulated nutrition. Founded in 1968 by French veterinarian Dr. Jean Cathary, the brand has consistently focused on understanding the unique needs of pets, each formula meets the specific dietary needs of pets, whether it is breed-specific nutrition or addressing particular health concerns such as obesity, digestive issues, or allergies, making it a preferred choice among pet owners and veterinarians worldwide.

Top 10 Pet Care Brands Dominating the $427 Bn Market

 

As a subsidiary of Mars, incorporated in 2001, the brand benefits from substantial financial backing. Mars Petcare, the parent company, reported an impressive revenue of $18 billion in 2022, with Royal Canin contributing significantly to this figure. Its products are tailored to cater to the precise needs of different breeds, sizes, and life stages, ensuring optimal health and vitality. Its specialized formulas are crafted to support everything from joint health and dental care to skin and coat conditions, providing comprehensive care for pets. Royal Canin's commitment to quality control and safety ensures that pet owners can trust the consistency and efficacy of their products.

3. Heads Up for Tails:

Heads Up for Tails (HUFT) has rapidly emerged as a distinguished name in the top 10 in the pet care industry, celebrated for its dedication to providing high-quality products and services that cater to the diverse needs of pets and their owners. Founded in 2008 by Rashi Narang, HUFT has carved out a niche in the market with its innovative, thoughtful, and pet-centric approach.

Top 10 Pet Care Brands Dominating the $427 Bn Market

 

One of the key reasons HUFT stands out in the crowded pet care market is its comprehensive range of products and services. From premium pet food and grooming supplies to stylish accessories and toys, HUFT offers a holistic shopping experience for pet owners. Its products are meticulously designed to ensure safety, comfort, and enrichment, reflecting a deep understanding of pet needs. The brand has expanded into personalized services such as grooming, training, and pet spa treatments, providing a one-stop solution for pet care.

Its products are sourced and crafted with a focus on sustainability and safety, ensuring that pets receive the best care possible. The brand also emphasizes customization, allowing pet owners to personalize products, thereby enhancing the bond between pets and their owners. HUFT actively engages with the pet community through educational content, events, and social initiatives, fostering a supportive and informed pet-loving community.

4. Drools:

Drools, a premier pet care brand, has swiftly ascended to prominence through its commitment to providing high-quality, nutritionally balanced pet food. Founded by Fahim Sultan, the brand was established with a vision to enhance the health and well-being of pets through superior nutrition. Drools is recognized as one of the top pet care brands, trusted by paw parents and veterinarians alike. In 2021, it secured $60 million in funding from L. Catterton, a leading consumer-focused private equity firm. This investment has empowered Drools to expand its product line, enhance its distribution network, and invest in research and development.

Top 10 Pet Care Brands Dominating the $427 Bn Market

 

In the competitive pet care market by focusing on scientific research and nutritional expertise. Each product is meticulously crafted to meet the specific dietary needs of pets, ensuring optimal health and vitality. Its extensive range includes dry and wet food for dogs and cats, tailored for various life stages and health conditions. By using high-quality ingredients free from artificial colors and preservatives, Drools ensures that pets receive wholesome, safe nutrition. The brand emphasizes balanced nutrition, which is crucial for maintaining pet health. Drools' products are rich in essential nutrients, including proteins, vitamins, and minerals, supporting overall well-being, boosting immunity, and promoting healthy skin and coat. It offers specialized diets for pets with specific health needs, such as weight management, digestive care, and joint support.

5. Fabled Pets:

Fabled Pets, founded by Varun Sharma, has swiftly emerged as a prominent player in the pet care industry, driven by a passion for enhancing pet wellness. It has been committed to providing top-quality products and services that prioritize the health and happiness of pets and their paw parents.

Top 10 Pet Care Brands Dominating the $427 Bn Market

 

The brand leverages cutting-edge research and technology to develop products that address the evolving needs of pets. From advanced nutritional supplements to interactive toys and training tools, Fabled Pets offers a comprehensive range of solutions designed to promote the physical and mental well-being of pets. The brand offers premium ingredients that are backed by scientific research, ensuring superior quality and efficacy.  These products cater to a wide range of pet needs, from promoting joint health and dental care to addressing anxiety and behavioral issues. The brand's commitment to innovation means that pet parents can trust Fabled Pets to provide innovative solutions for their furry companions.

6. Dogsee Chew:

Dogsee Chew, a distinguished name among pet care brands, has garnered acclaim for its all-natural, high-quality pet treats. Founded by Bhupendra Khanal in 2015, the brand emerged from a desire to provide pets with wholesome, healthy treats that align with natural dietary practices. Dogsee Chew is celebrated as one of the top pet care brands, trusted by paw parents and veterinarians around the globe. The brand raised $7 million in a Series A funding round in 2021, led by Sixth Sense Ventures.

Top 10 Pet Care Brands Dominating the $427 Bn Market

The brand specializes in 100 percent natural dog treats made from yak and cow milk sourced from the Himalayas. These hard cheese treats are free from preservatives, additives, and artificial coloring, making them a healthy and safe choice for pets. The company's commitment to natural ingredients and traditional manufacturing processes ensures that every treat is of the highest quality, providing pets with nutritious and delicious snacks.

Dogsee Chew offers numerous benefits to its consumers. The treats are not only nutritious but also help maintain dental health by reducing plaque and tartar buildup. They are high in protein and low in fat, making them an ideal snack for dogs of all breeds and sizes.

7. Whiskas:

Mars founded Whiskas, a well-known brand in the pet care space. With its commitment to providing cats with wholesome and nutritious food, Whiskas aims to improve the lives of animals and their paw parents everywhere. The parent business, Mars Petcare, reported a healthy $18 billion in revenue in 2022, with Whiskas making a large contribution to this amount.

Top 10 Pet Care Brands Dominating the $427 Bn Market

 

The brand stands out as one of the top pet care brands due to its unwavering commitment to quality and expertise in feline nutrition. With decades of experience and research, Whiskas understands the unique dietary needs of cats and formulates its products accordingly. It offers a wide range of cat food options, including dry kibble, wet food, and treats, all crafted with premium ingredients to ensure optimal health and satisfaction for feline friends.

Its cat food formulations are designed to provide balanced nutrition, supporting cats' overall health and well-being. From promoting healthy digestion and strong immunity to maintaining shiny coats and optimal weight, Whiskas cat food addresses various aspects of feline health.

8. Pedigree:

Pedigree, a leading name among pet care brands, was founded by Mars, a global powerhouse in the pet care industry. Established with a mission to provide dogs with wholesome nutrition. Mars Petcare, the parent company, reported a substantial revenue of $18 billion in 2022, with Pedigree contributing significantly to this figure.

Top 10 Pet Care Brands Dominating the $427 Bn Market

 

The brand counts as one of the top pet care brands due to its unwavering commitment to canine health and nutrition. With decades of expertise in dog food formulations, they understands the unique dietary needs of dogs and craft their products accordingly. The brand offers a diverse range of dog food options, including dry kibble, wet food, and treats, all made with high-quality ingredients to support dogs' overall health and well-being.

Its dog food formulations are designed to provide balanced nutrition, supporting dogs' energy levels, digestion, and immunity. Pedigree also offers specialized diets for dogs with specific health needs, such as weight management and dental care. Pedigree's products are crafted with delicious flavors and textures to appeal to dogs' taste preferences, ensuring mealtime excitement and satisfaction.

9. Kennel Kitchen:

Kennel Kitchen was founded by Siddharth Talwar in 2015 with a vision to provide pets with wholesome and nutritious meals. Kennel Kitchen has been committed to crafting premium-quality pet food using natural ingredients, earning the trust of paw parents seeking the best for their furry companions.

Top 10 Pet Care Brands Dominating the $427 Bn Market

 

The brand prides itself on using only the finest human-grade ingredients sourced from trusted suppliers. Each recipe is thoughtfully crafted to provide pets with balanced nutrition, ensuring their overall health and well-being. Kennel Kitchen offers a diverse range of products, including dry food, wet food, and treats, all made with love and care to meet the unique dietary needs of pets.

Its formulations are free from artificial colors, flavors, and preservatives, making them a safe and healthy choice for pets. Recipes are rich in essential nutrients, promoting optimal health, digestion, and immunity in pets.

10. Himalaya:

Himalaya Pets, founded with a vision by M. Manal in 1930, has transcended generations to become a trusted name in pet care brands. With a legacy rooted in Ayurveda and natural wellness, the brand earned the loyalty of paw parents worldwide through its commitment to holistic pet health.

Top 10 Pet Care Brands Dominating the $427 Bn Market

Drawing inspiration from the Himalayan Mountains and ancient Ayurvedic principles, the brand formulates its products with natural ingredients known for their healing and rejuvenating properties. From herbal supplements to grooming essentials, Himalaya Pets offers a diverse range of solutions designed to promote the overall well-being of pets.

Its formulations are free from harmful chemicals and additives, making them safe and gentle for pets' sensitive skin and delicate digestive systems. Its products address a wide range of pet needs, from promoting coat health and soothing skin irritations to supporting joint mobility and dental hygiene.

Conclusion:

Each firm on display demonstrates a dedication to improving the health and happiness of pets globally in the cutthroat pet care sector. Innovation and quality are at the forefront of the food business, from established giants like Royal Canin and Mars-owned Whiskas and Pedigree to up-and-coming brands like Heads Up for Tails and Kennel Kitchen.

The following businesses manufacture products that specifically address the requirements of pets by giving priority to natural health concepts, nutritional competence, and scientific research. Pet owners have a wide range of alternatives, whether it's a breed-specific diet, natural ingredients, or customized services. Together, these firms contribute to the booming pet care market by building strong ties between pets and their owners, offering appropriate nourishment, and supporting general well-being.

FAQs on Pet Care Brands:

1. What factors are driving the growth of the pet care industry?

The increasing commitment of "paw parents" to their pets' health and welfare, leading to significant expenditures in various areas of pet care, primarily food and treats, is driving the industry's growth.

2. What percentage of pet care costs do food and treats account for?

Food and treats account for a remarkable 75–80 percent of pet care costs, underscoring the crucial role of nutrition in pet parenting.

3. How do top pet care brands distinguish themselves in the market?

Top pet care brands differentiate themselves by consistently delivering high-quality products that cater to the diverse needs of pets and their owners, along with a commitment to enhancing pets' lives.

4. What are some examples of products offered by these top pet care brands?

Examples include premium pet food catering to specific dietary requirements and innovative treats promoting health and well-being.

5. Why are these top pet care brands celebrated in the Indian market?

These brands are celebrated for their innovative products and commitment to enhancing pets' lives, earning recognition for their quality and contribution to the pet care industry.

 

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Online Sales of Babycare Products in Tier II & III Cities Soar by 30 pc in FY24
Online Sales of Babycare Products in Tier II & III Cities Soar by 30 pc in FY24
 

The landscape of e-commerce in India is witnessing a significant transformation, particularly in Tier II and III cities, where the demand for babycare products is soaring. This surge is not just a fleeting trend but a reflection of deeper changes in consumer behavior and market dynamics. The order volumes for babycare products in FY24 saw a remarkable 30 percent increase compared to FY23 across these smaller cities.

Rising Demand across Online Platforms

Both marketplaces and brand-specific websites have experienced substantial growth in order volumes, with marketplaces recording a 34 percent year-on-year (YoY) increase and brand websites witnessing a 21 percent rise in FY24, according to data analyzed by Unicommerce. This dual-channel growth underscores the expanding reach of e-commerce and the growing preference among consumers for online shopping, driven by convenience and a wider range of choices.

Popular Babycare Products Driving Growth

A variety of babycare products have seen heightened demand in these regions. Essentials such as wet wipes, cotton nappies, and eco-friendly detergents are among the top-sellers, reflecting a shift towards more sustainable and health-conscious choices. Additionally, items like soft toys, mittens, rompers, bodysuits, feeding spoons, diapers, pants, tops, and vests are also flying off the virtual shelves, showcasing the diverse needs and preferences of consumers.

This growth can be attributed to several factors, including increased awareness about such products, the ease of access provided by online platforms, and the innovative use of technology by brands to engage with their customers. The rising spirit of e-commerce in these smaller cities is transforming how parents shop for babycare essentials, making high-quality products more accessible than ever.

Shift Towards Sustainable and Innovative Babycare

The evolving consumer demands in Tier II and III cities are pushing brands to offer more eco-friendly, customized, and organic products. As parents become more conscious of the environmental impact and the quality of products used for their babies, brands are responding with sustainable alternatives. Leading babycare brands like Chicco, Superbottoms, Mi Arcus, R For Rabbit, and The Mom Store are at the forefront of this movement, providing products that cater to the modern parent's need for both safety and sustainability.

READ MORE: Boom in Startup Investments: 44 pc of Investors Targeting Growth in Tier II & III Cities

Future Prospects and Market Opportunities

Kapil Makhija, MD & CEO of Unicommerce, highlights the strategic importance of these emerging markets. “E-commerce continues to make deep inroads into smaller cities, and consumers are relishing its presence across these parts now. We are seeing emerging categories like babycare witnessing growth through e-commerce. This presents an opportune gateway for traditional as well as newer brands to tap these markets. We are committed to supporting brands in rooting their establishments in these parts with our adaptable technology platform,” he stated.

The expanding e-commerce footprint in Tier II and III cities signifies a promising future for brands willing to innovate and cater to the unique needs of these consumers. As technology continues to bridge the gap between urban and rural markets, the babycare segment is poised for sustained growth, driven by the rising demand for quality, sustainability, and convenience.

 

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Revolutionizing eCommerce Through Innovation & Excellence, GreenHonchos Wins Prestigious Digital Transformation of the Year Award
Revolutionizing eCommerce Through Innovation & Excellence, GreenHonchos Wins Prestigious Digital Transformation of the Year Award
 

In a remarkable testament to its unwavering commitment to technological advancement, digital commerce, and unparalleled service delivery, GreenHonchos has been awarded the coveted Digital Transformation of the Year Award 2024 at the recent IReC Forum organized by Indian Retailer in Bengaluru. 

A Milestone in Digital Excellence

The Digital Transformation of the Year Award is bestowed upon organizations that demonstrate exceptional innovation, strategic implementation of cutting-edge technologies, and a transformative impact on their industry. GreenHonchos has emerged as a paragon of these virtues, harnessing the power of composable commerce technology, new-age tenants of digital commerce, data analytics, and over a decade of experience in scaling 200+ global retail brands online. 

"The credit for this award goes to all our brand partners who patiently navigate the realms of eCommerce with us every day through the fault lines, allowing us the scope to experiment and innovate. What we are today is the sum of all the learnings we have gained in interactions with industry patrons over the last decade of working with high-potential retail brands across categories.” - Navin Joshua (Founder & Director, GreenHonchos).

Embracing Entrepreneurial Leadership 

In the dynamic realm of eCommerce, the success of GreenHonchos is credited to its consumer-centricity and investment in its people to uphold its consultative and service orientation in the ecosystem.

This belief has guided their strategies in attracting, hiring, and nurturing top-tier talents in the retail and eCommerce domain. By prioritizing skillsets and expertise in the market, they have assembled and nurtured a team of eComm experts who not only drive the company forward but also nurture the next generation of eCommerce innovators. These strategic decisions were more than just business moves; they were opportunities for a 200+ member team to become India’s leading eCommerce enabling workforce, enhancing their skills, and broadening their perspectives.

“As a Great Place To Work Certified Organization, we always strive to harness the potential of the best of the People, Processes, and Technology to deliver results for our cohort of eRetail businesses. And our journey is far from over; we remain steadfast in our commitment towards problem-solving through the ever-evolving market dynamics pivoted by technology, and helping you gain a competitive advantage.” - added Navin.

Looking Ahead to New-Retail Era

The Digital Transformation of the Year Award serves as a monumental affirmation of GH’s commitment to lead the charge, driving transformative change and setting new benchmarks for the industry. HQ’ed in the national capital region with offices in Mumbai & Bengaluru, GH has also established a strong presence in GCC over the last year, operating from its global office in Dubai.

In its pursuit of leveraging tech innovations, the agnostic nature of digital commerce, and its global presence, the company has recently started offering cross-border eCommerce enablement services to facilitate the global expansion of  Made in India retail businesses. 

While India continues to grow as the global retail hub, its well-oiled and robust eComm enabling ecosystem is poised to play a pivotal role in helping the retail industry drive the next phase of growth by tapping into the growing demand of digital-native shoppers across the globe. 

 

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Best AC Brands in India: Top Picks to Cool Your Summer
Best AC Brands in India: Top Picks to Cool Your Summer
 

In a country like India, where summers can be brutally hot, an air conditioner (AC) is no longer a luxury but a necessity. Choosing the right AC can be daunting, given the myriads of brands available in the market. This comprehensive guide will help you navigate through the top 10 air conditioner brands in India, offering insights into their features, reliability, and overall value. Whether you're wondering which brand AC is best or looking for the best air conditioner company in India, this article has you covered.

Best ACs in India for 2024 from the Top 10 Selling Brands

Here's a list of the top air conditioners from the top 10 selling brands in India to assist you in making an informed choice.

1. Carrier:

Carrier consistently ranks among the top AC brands in India for its innovation, quality, and reliability. Hailed as one of the best AC companies in India, Carrier sets industry standards with cutting-edge technology. It secures a prominent position in the list of top 10 AC brands in India due to its extensive product range and availability. For discerning consumers seeking the best air conditioning solution, Carrier offers unmatched performance, comfort, and durability.

Established in 1915 by Willis Carrier, leads the air conditioning industry with a century of expertise in heating, cooling, and refrigeration solutions. The best-selling Carrier Infinity 24ANB1, priced from Rs 50,000-1,50,000 depending on capacity and features, reflects the brand's commitment to innovation, sustainability, and quality.

Carrier - Best AC Brands in India

Key Features:

Carrier air conditioners include smart networking options, quiet operation, sophisticated temperature control, and excellent energy economy. In order to provide dependable performance and better indoor air quality, they frequently include sturdy construction, superior air filtering systems, and environmentally friendly refrigerants.

Pros and Cons:

Industry-leading energy efficiency, advanced comfort technology, quiet and reliable performance, durable construction, and environmentally friendly design make this AC stand out, although it faces the drawbacks of premium pricing compared to standard models and the necessity for professional installation and maintenance.

2. LG:

A South Korean multinational has been renowned for consumer electronics and home appliances since 1958. LG air conditioners are available through authorized dealerships and showrooms, major e-commerce platforms like Amazon, Flipkart, and Tata CliQ, and retail chains such as Croma, Reliance Digital, and Vijay Sales. These channels offer home delivery, installation services, competitive pricing, and financing options. Exclusive deals and offers can also be found on the official LG website.

In India, LG is known for durable, energy-efficient ACs. Its Dual Inverter Split AC, priced around Rs 35,000-55,000, is a popular choice for its advanced features and competitive pricing.

Top 10 ac brands

Key Features:

The revolutionary cooling technologies, silent operation, smart connectivity features, and great energy efficiency set LG air conditioners apart. Along with multi-stage air filtration systems for better air quality and faster cooling, dual inverter compressors, and sleek, contemporary designs that complement any decor, these are common features.

Pros and cons:

Energy-efficient, quiet operation, and smart features characterize AC units, offering enhanced durability, but they come with the drawbacks of a higher initial cost and complex installation.

3. Samsung:

Samsung, a global leader in electronics, offers air conditioners catering to various needs with a focus on quality and innovation. Samsung air conditioners are available on major e-commerce platforms like Amazon, Flipkart, and the official Samsung online store, often featuring attractive discounts. They are also widely available in physical retail stores such as Croma, Reliance Digital, and Vijay Sales, offering hands-on experience and in-person consultations.

An extensive network of authorized dealers and service centers ensures access to genuine products and after-sales support. Additionally, Samsung regularly engages in promotional campaigns with seasonal discounts, exchange offers, and easy EMI options to attract buyers. Its Wind-Free AR18TY3QBBU, priced around Rs 45,000, is a top seller known for innovative features, making it competitive in the premium segment.

Top 10 ac brands

Key Features:

Samsung air conditioners stand out for their superior air purifying features, quick cooling speeds, smart connectivity via Wi-Fi and voice control, and digital inverter technology for energy savings. It also guarantees comfort and visual appeal with its sleek, contemporary designs, silent operation, and longevity.

Pros and Cons:

Innovative Wind-Free Technology, energy efficiency, smart connectivity, health benefits, and quiet operation make this AC appealing, though it comes with the drawbacks of a higher price point, installation costs, and maintenance requirements.

4. Voltas:

Voltas, a prominent Tata Group company, is a leading name in India's air conditioning sector, renowned for innovation, energy efficiency, and top-notch customer service since 1954. Volta’s air conditioners are easily accessible through numerous authorized dealers nationwide. They are available on leading e-commerce platforms like Amazon, Flipkart, and Tata CliQ for online shoppers.

Exclusive Voltas brand stores offer a comprehensive range of products with hands-on customer service. Partnerships with major electronics retail chains like Croma, Reliance Digital, and Vijay Sales further enhance market reach. Its best-selling 1.5 Ton 3 Star Split Inverter AC, priced around Rs 35,000, offers a perfect blend of affordability, efficiency, and features, catering to diverse Indian climatic conditions with reliable cooling performance and advanced features.

Top 10 ac brands

Key Features:

Precision temperature control, energy economy, sturdy construction, and cutting-edge cooling technology are all hallmarks of Volta’s air conditioners. To further provide increased comfort and better indoor air quality, it also provides digital connection, eco-friendly refrigerants, air purification systems, and silent operation.

Pros and Cons:

Energy efficiency, effective cooling, health benefits, and low maintenance make this AC desirable, although it comes with the drawbacks of initial cost and installation charges.

5. Daikin:

Daikin Industries, Ltd., a Japanese multinational, excels in air conditioning and refrigeration since 1924. Daikin products are available through a wide network of authorized dealers, ensuring genuine products and reliable after-sales service. It has a strong online presence on platforms like Amazon, Flipkart, and their official website. Exclusive brand outlets in major cities allow consumers to experience their products first-hand. Partnerships with retail chains like Croma, Reliance Digital, and Vijay Sales enhance reach and accessibility.

Daikin offers robust customer support, including installation services, maintenance contracts, and a responsive helpline. Renowned globally for innovation and quality, it's a top 10 AC brand in India. The Daikin FTKF50TV, priced around Rs 45,000, is a best-seller, valued for its high performance, energy efficiency, and reliability, making Daikin a preferred choice in India.

Top 10 ac brands

Key Features:

The primary features of Daikin air conditioners, which are known for their excellence, are their innovative inverter technology, quiet operation, intelligent climate management, and outstanding energy efficiency. Additionally, they provide strong air filtration systems, environmentally acceptable refrigerants, and intuitive digital connection, all of which contribute to maximum efficiency and improved comfort.

Pros and Cons:

High energy efficiency reducing electricity bills, powerful cooling performance, quiet operation ideal for bedrooms and offices, smart and user-friendly controls, and durable build quality make this AC appealing, yet it faces the drawbacks of a higher upfront cost compared to budget brands and limited availability of service centers in remote areas.

6. Blue Star:

Blue Star, a pioneering brand in air conditioning since 1943, leads India's HVAC industry with its commitment to quality and innovation.  Blue Star is consistently ranked among the best AC brands in India for reliable and energy-efficient solutions. Renowned for its innovative technology and superior quality, Blue Star is considered one of the premier AC companies in India. It secures a place among the top 10 AC brands in India, recognized for its extensive product range and customer-centric approach.

For those seeking the best-in-class air conditioning experience, Blue Star is a top contender, offering excellent performance, efficiency, and reliability. Its best-selling 5-Star Inverter Split AC, priced around Rs 43,690, offers superior performance and energy efficiency, making it a premium yet value-for-money choice.

Top 10 ac brands

Key Features:

The energy-efficient, cutting-edge cooling technologies, and sturdy construction of Blue Star air conditioners are well known. They come equipped with characteristics like high ambient cooling for harsh temperatures, anti-corrosive blue fins for longevity, precision cooling, and advanced air purification systems. Furthermore, a lot of models have smart connectivity, which offers convenient and smooth control.

Pros and Cons:

Superior energy efficiency leading to lower electricity bills, precise temperature control for enhanced comfort, eco-friendly design with sustainable refrigerants, and durability backed by Blue Star's legacy of quality make this AC a compelling choice, despite the premium pricing compared to non-inverter models and potentially higher initial investment offset by long-term savings.

7. Panasonic:

Panasonic consistently ranks among the best AC brands in India, known for its quality and innovation. As a leading global electronics company, Panasonic is a top contender in the Indian air conditioning market, trusted by millions. It frequently secures a position among the top 10 AC brands in India in various rankings and surveys. For consumers seeking reliability, performance, and innovation, Panasonic offers a comprehensive range of air conditioning solutions.

Panasonic Corporation, a global electronics leader, is renowned for quality, innovation, and sustainability in air conditioning. The Panasonic Aero Series, starting at Rs 44,000, offers top-notch technology and design for unmatched comfort and efficiency, making it a customer favorite worldwide.

Top 10 ac brands

Key Features:

Energy efficiency, cutting-edge air purification technology, silent operation, and intelligent networking choices are just a few of the remarkable features available in Panasonic air conditioners. In addition, they have unique designs that improve indoor air quality and comfort, long-lasting construction, accurate temperature management, and eco-friendly refrigerants.

Pros and Cons:

Exceptional cooling performance, energy-efficient operation, advanced air purification technology, quiet operation, and durable construction highlight this AC's appeal, although it faces the drawbacks of potentially higher initial costs compared to competitors and limited availability of certain models in specific regions.

8. Godrej:

Godrej is among the best AC brands in India, known for its commitment to quality and innovation. As a leading AC company, Godrej sets benchmarks for others to follow, with a rich legacy of trust and excellence. It consistently features among the top 10 AC brands in India due to its relentless pursuit of excellence. For those seeking the best AC brand in India, Godrej offers a perfect blend of performance, reliability, and affordability.

Godrej, a trusted household name since 1897, excels in various consumer electronics, including air conditioners. Its best-selling model, the Godrej 5 Star Split AC GSC 18ITC5-WTA, starts at a competitive price of Rs 35,000 to Rs 40,000, reflecting the brand's commitment to quality and affordability.

Top 10 ac brands

Key Features:

Key traits of Godrej air conditioners are eco-friendly refrigerants, quiet operation, smart inverter technology, and energy efficiency. In order to ensure the best cooling and convenience, they also provide sophisticated air purification systems, sturdy construction, and smart features like smartphone control and auto-restart.

Pros and Cons:

Excellent energy efficiency, superior cooling performance, durable build quality, value for money, and eco-friendly operation make this AC attractive, although it may entail installation charges and clearer warranty terms could be desired.

9. Hitachi:

Hitachi, a global conglomerate, is trusted for advanced air conditioning solutions in India. Hitachi consistently ranks among the top AC brands in India for its quality, performance, and innovation. As a leading AC company, Hitachi is known for its extensive product range and superior technology. It secures its position in the top 10 AC brands in India due to its strong brand presence and customer loyalty.

Hitachi emerges as a preferred choice for consumers seeking the best air conditioning solution, backed by its stellar reputation and cutting-edge products. Its iConnect series, featuring the Hitachi iConnect 1.5 Ton 5 Star Split AC starting at Rs 37,500, prioritizes comfort, energy efficiency, and durability, making it a top choice in the market.

Top 10 ac brands

Key Features:

High energy economy, strong cooling capability, whisper-quiet operation, and cutting-edge air purification technology are among the primary characteristics that set Hitachi air conditioners apart. In addition, they often come with sophisticated features like temperature-optimizing smart sensors, sleek and contemporary designs, and sturdy construction that guarantees comfort and long-term dependability.

Pros and Cons:

Exceptional cooling performance, energy-efficient operation, smart features for convenience, stylish design, and a trusted brand reputation make this AC appealing, yet the premium pricing and additional installation and maintenance costs may deter budget-conscious consumers.

10. Whirlpool:

Whirlpool, a global leader in home appliances, excels in air conditioning with its innovative designs and energy efficiency. It consistently ranks among India's top AC brands for its stellar reputation, extensive range, and customer satisfaction. As one of the best AC companies in India, Whirlpool sets benchmarks for quality and innovation.

It secures a coveted spot among India's top 10 AC brands, focusing on superior products and customer service. For discerning consumers, Whirlpool is a top choice for its performance, efficiency, and innovation. The Whirlpool Magicool 3D Cool Inverter AC, starting at Rs 31,500, offers a perfect blend of performance and aesthetics, making it a top choice for households and businesses.

Top 10 ac brands

Key Features:

The distinctive characteristics of Whirlpool air conditioners, such as the 6-sense IntelliComfort Technology for accurate temperature and humidity management, the Turbo Cool technology for quick cooling, and the 4-in-1 Filtration with HEPA filters for better air quality, set them apart. They stand out from other brands on the market thanks to their unique MPFI (Multi-Port Fluid Injection) technology, which guarantees effective cooling even in hot weather.

Pros and Cons:

Superior cooling performance, energy-efficient operation, smart features for enhanced convenience, sleek and modern design, and advanced filtration for clean and healthy air highlight this AC's appeal, although the initial investment might be higher compared to non-inverter models and there may be limited availability in certain regions.

Conclusion

Finding the best AC brand in India involves considering various factors such as energy efficiency, cooling capacity, and budget. The top 10 air conditioner brands in India listed above offer a range of options to suit different needs and preferences. Whether you prioritize advanced technology, energy efficiency, or affordability, there's an AC brand that will meet your requirements.

As the temperatures rise, investing in a reliable air conditioner from one of these top brands will ensure you stay cool and comfortable all summer long. Remember to compare different models and features to find the best air conditioner company in India that aligns with your specific needs.

The top 5 FAQs:

1. What are the key factors to consider when choosing an air conditioner?

The key factors to consider include energy efficiency, cooling capacity, technology (such as inverter technology), air quality features, and budget.

2. What are some popular air conditioner brands in India?

Some of the popular air conditioner brands in India include LG, Samsung, Voltas, Daikin, Blue Star, Panasonic, Carrier, Godrej, Hitachi, and Whirlpool.

3.  Where can I purchase air conditioners from these brands?

Air conditioners from these brands are available through authorized dealerships, major e-commerce platforms like Amazon and Flipkart, as well as retail chains such as Croma, Reliance Digital, and Vijay Sales.

4. What are some common features found in top-selling air conditioner models?

Common features include inverter technology for energy efficiency, advanced air purification systems, smart connectivity for remote control, high cooling capacity, and durable build quality.

5. How do I ensure proper maintenance and after-sales service for my air conditioner?

It is recommended to purchase from authorized dealers to ensure genuine products and access to reliable after-sales service. Additionally, many brands offer installation services, and maintenance contracts, and have responsive helplines for customer support.

 

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15 Best-Selling Whiskies in India for 2024 | ABV%
15 Best-Selling Whiskies in India for 2024 | ABV%
 

During the forecast period between 2024 and 2030, the size of India whiskey market is projected to grow at a CAGR of 4.61% reaching a value of $28.97 billion by 2030. The IWSR's report highlights substantial double-digit growth, partly influenced by the regularization of the Uttar Pradesh market, resulting in an 11% volume increase and indicating ongoing prospects for the Indian whisky market. Over the last decade, the average whisky price in India nearly doubled to $7.18 per litre, highlighting the market's appeal and early stages of premiumization, making it a promising arena for the growth and influence of premium and imported whiskeys in India.

The top whisky brands in India hold a significant place in the lives of Indian consumers, symbolizing more than just a drink. Often associated with status and prestige. India's love affair with top whisky brands is nothing short of legendary. It has an impressive variety of top whisky brands in India and a price list that caters to every palate and budget. The Top Indian whisky brands market is a treasure trove waiting to be explored. From the smooth sophistication of single malts to the rich complexity of blended scotch whiskies, there's a perfect pour for everyone.

Whether you're a seasoned connoisseur or just beginning your whisky journey. Here is an ultimate guide to the top 15 whisky brands in India that will tantalize your taste buds and elevate your spirits.

Best Whisky Brands in India

We've put together a list of the best-selling whisky brands in India, making it easier for you to choose the right one for your next purchase.

1. Dewars

One of the top whisky brands in India, Dewar's iconic 18-year-old drink is an excellent blended scotch, with a creamy finish, and a subtle smokiness that seems to roll off the tongue. In terms of pricing, Dewar's 18-Year-Old is positioned at the higher end of the market. For instance, a 1-litre bottle at Delhi Duty-Free is priced at Rs 9,790. Dewar Blended Scotch Whisky introduces the fourth iteration of Dewar's 19 Year Old - The Champion's Edition. Crafted to honour the enduring collaboration between Dewar and the U.S. Open Championship, this limited-edition whisky celebrates the 124th U.S

Top 15 Best Selling Whisky Brands in India

Key Features:

  • Alcohol Volume Percentage: 40% ABV
  • Category: Blended Scotch whisky

2. Black Dog Reserve

Black Dog whisky holds a significant position in the Indian market, being the second-most-sold whisky brand in the country. Despite facing high taxes, its popularity has grown consistently, showing a 3% growth rate in the last few years post-COVID-19​. One of the best whisky in India with a stellar reputation and a remarkable taste, Black Dog Reserve is an aged and rare liquid with an unusually smooth blend of malt and grain whiskies from Scotland. The amber liquid carries a beautiful aroma of matured wood, and a pronounced rich malt taste, coupled with sherry sweetness making space in the top whisky brand in India.

Top 15 Best Selling Whisky Brands in India

Key Features:

  • Alcohol Volume Percentage: 42.8% ABV
  • Category: Blended Scotch whisky

3. Glenkinchie 12

Glenkinchie 12-year-old is ranked among the top 15 whisky brands in India in the single malt Scotch whisky category. It features delightful notes of cereal, green apple, lemon, and sweet honey. If you prefer lighter drinks, this is one of the smoothest whiskies you can find. Distilled in the lowland region of Scotland, this refined single malt is perfect for enjoying as a pre-dinner drink. The premium pricing can be a barrier in a price-sensitive market like India. Additionally, limited availability in more general retail settings can restrict its reach to a wider audience.

Top 15 Best Selling Whisky Brands in India

Key Features:

  • Alcohol Volume Percentage: 43% ABV
  • Category: Single Malt Scotch whisky

4. Glenmorangie 10-Year Original

An exceptional single malt scotch contributing to the best whisky brand list, hailing from the Glenmorangie Highland distillery in North Scotland, this one is an absolute value for money. It's a mature spirit capable of delighting even the most demanding of whisky enthusiasts, that's soft, mellow and immensely creamy to taste. It carries pleasant spicy notes, and the medium-bodied whisky is clean and well-balanced. At this price, it stands undefeated as a must-mention under the top 15 whisky brands in India.

Top 15 Best Selling Whisky Brands in India

Key Features:

  • Alcohol Volume Percentage: 43% ABV
  • Category: Highland Single Malt Scotch whisky

5. Glenfiddich 12

Glenfiddich 12 is widely available in various retail outlets across major cities in India. It can be found in high-end liquor stores, duty-free shops at airports, and specialized online platforms that cater to premium spirits. It is not just one of the top whisky brands in India, but a best-selling name all over the world, Glenfiddich 12-year-old is immensely smooth, with a refreshingly sweet and fruity essence. This is one of those classic whisky brands in India you're likely to encounter the iconic green bottle of, at practically every bar you visit. 

Top 15 Best Selling Whisky Brands in India

Key Features:

  • Alcohol Volume Percentage: 40% ABV
  • Category: Single Malt Scotch whisky

6. The Glenlivet

Undoubtedly one of the most famous and Top Whisky Brands in India, The Glenlivet 12-year-old boasts a soft, smooth balance of sweet summer fruits and fresh floral notes. This is one of the most popular single malt whiskies across the world, and the Glenlivet distillery is famous for being the first officially licensed whisky distillery in Scotland, and thus in a way, starting it all. High import duties and state excise taxes significantly increase the cost of Glenlivet in India. These include bottling costs distributor and retailer margins. Fluctuations in the INR to GBP rate impact the cost of imported whiskies.

Top 15 Best Selling Whisky Brands in India

Key Features:

  • Alcohol Volume Percentage: 40% ABV
  • Category: Single Malt Scotch whisky

7. Ballantine's 12-Year

A beautiful blend of cherry-picked single malt and grain whiskies, Ballentine's is a rich, complex yet smooth-tasting whisky that's aged for 12 years making it a part of the top 15 whisky in India. Glenburgie single malt range, 12 Year Old, 15 Year Old and 18 Year Old, won Gold at the ISC. Defined by toffee, honey and creamy notes, you get this famous whisky in a traditional square bottle. In cities like Delhi, you can find it priced around Rs 3,600, while in Hyderabad, it might go up to Rs 4,670.

Top 15 Best Selling Whisky Brands in India

Key Features:

  • Alcohol Volume Percentage: 40% ABV
  • Category: Blended Scotch whisky

8. Talisker 10

Brimming with subtle red fruit flavours after being aged in American oak casks that previously contained port, Talisker 10 boasts of a sweet and peat palate with hints of rocky flavours setting up a spot in the list of best Whisky brands in India. It's a complex whisky that frequently gets pitted under the best whisky brands in India. Websites like The Whisky Shop and The Whisky Exchange ship to India, offering a convenient option for purchasing Talisker 10 and other premium whiskies, although availability and shipping times can vary.

Top 15 Best Selling Whisky Brands in India

Key Features:

  • Alcohol Volume Percentage: 45.8% ABV
  • Category: Single Malt Scotch whisky

9. Jack Daniel’s Old No.7

Now, this is indisputably one of the top whisky brands in India, that doesn't need an introduction, right? Jack Daniel’s Old No. 7 is widely available in liquor stores across major cities in India, including Mumbai, Delhi, Bangalore, Chennai, and Kolkata. Several online platforms, such as Amazon India, BigBasket, and specialized liquor websites, offer Jack Daniel’s Old No. 7 for purchase. This provides convenience and accessibility for consumers across the country.  The iconic whisky brand has been awarded around 7 gold medals as an ode to its quality and distinct taste, packed with butterscotch notes and a long toasted oak finish.

Top 15 Best Selling Whisky Brands in India

Key Features:

  • Alcohol Volume Percentage: 40% ABV
  • Category: Tennessee Whisky

10. Jim Beam Bourbon Black

The fact that Jim Beam Black has been rated the No.1 bourbon in the world, bears testimony to why it deserves a spot in this list of the top 15 whisky brands in India. India’s regulatory environment and high taxes on imported alcohol can impact the availability and pricing of Jim Beam Bourbon Black. Limited availability in certain regions and occasional supply chain disruptions can affect the product’s accessibility.

Top 15 Best Selling Whisky Brands in India

Key Features:

  • Alcohol Volume Percentage: 40% ABV
  • Category: Bourbon Whisky

11. Monkey Shoulder

Monkey Shoulder is an iconic mix of different single malt whiskies from three of the finest Speyside distilleries, namely Kininvie, Balvenie, and Glenfiddich, married together to produce a rich flavour and smooth consistency. One of The Best Whisky brands in India, Monkey Shoulder bridges the gap between fun and premium whiskies effortlessly, and the amusing name has a history of its own. The growing middle class in India, with increasing disposable incomes and a penchant for premium products, presents a significant opportunity for Monkey Shoulder.

Top 15 Best Selling Whisky Brands in India

Key Features:

  • Alcohol Volume Percentage: 40 to 43 % ABV
  • Category: Blended Malt Scotch whisky

12. Amrut Fusion Single Malt Whisky

Manufactured by Bengaluru's Amrut Distilleries with locally grown barley from North-West India, this liquor was the first-ever single malt added to the top 15 whisky brands in India. In 2010 Amrut was listed as the world's third finest whisky by none other than whisky connoisseur Jim Murray in his renowned Whisky Bible. The international acclaim and awards won by Amrut Fusion help in boosting its domestic sales and brand image, attracting new consumers.

Top 15 Best Selling Whisky Brands in India

Key Features:

  • Alcohol Volume Percentage: 50% ABV
  • Category: Indian Single Malt Whisky

13. Chivas Regal 12 Years

Crafted from a unique blend of the finest malt and grain whiskies, each matured for a minimum period of 12 years, Chivas Regal is an iconic top whisky brand in India that's continually touted amongst the best whiskies in India. It carries a rich and fruity taste with generous flavours, and luxurious notes of honey, vanilla and ripe apple. The price of Chivas Regal 12 Years in India typically ranges from Rs 3,500 to Rs 5,000 per 750ml bottle (approximately $48 to $68). 

Top 15 Best Selling Whisky Brands in India

Key Features:

  • Alcohol Volume Percentage: 40% ABV
  • Category: Blended Scotch whisky

14. Jameson

This one-of-a-kind whisky deserves a spot in every list of The Best Whisky Brands in India, owing to its world-famous Irish blend alone. This crisp whisky comes with a beautiful golden honey hue, along with a smooth and quality taste, triple distilled to perfection. The 18-year-old received a series of gold and double gold medals at the San Francisco World Spirits Competition between 2005 and 2010. The brand employs a mix of traditional advertising, digital marketing, and social media engagement. Jameson also sponsors events, hosts tasting sessions, and collaborates with bars and restaurants to enhance its visibility and consumer engagement.

Top 15 Best Selling Whisky Brands in India

Key Features:

  • Alcohol Volume Percentage: 40% ABV
  • Category: Irish Whisky

15. Johnnie Walker Red Label

One of the most popular and top whisky brands in India, this is a name every whisky enthusiast in the country is well-familiar with. Of all the variants produced by Johnnie Walker, the red label is by far the most affordable quality scotch one can get their hands on. Being one of the top whisky brands in India has six gold medals at the Le Monde Selection competitions and three double gold medals awarded by the jurors of the San Francisco World Spirit Competition. Its wide availability in both physical stores and online platforms, coupled with effective marketing strategies and a robust brand image, ensures its continued popularity among Indian consumers. 

Top 15 Best Selling Whisky Brands in India

Key Features:

  • Alcohol Volume Percentage: 40% ABV
  • Category: Blended Scotch whisky

Final Words

India's whisky market is a captivating blend of tradition and innovation, mirroring the country's rich cultural tapestry. From the legendary Dewar's 18, celebrated for its creamy finish and subtle smokiness, to the exotic and robust Talisker 10, each of India's top 15 best-selling whisky offers a unique narrative of craftsmanship and heritage. These whisky brands in India are more than just beverages; they are a testament to our country’s evolving palate and burgeoning appreciation for fine spirits. With its iconic status and butterscotch notes, the globally acclaimed Jack Daniel's Old No.7 stands alongside local marvels like Amrut Fusion Single Malt, a pioneer in Indian single malts known for its complex flavors and international acclaim.

FAQs on Top Whisky Brands in India

1. What is the target market for whisky?
The target market for whisky includes adults who enjoy spirits, typically ranging from young professionals to older adults.

2. Which brand of whisky is famous in India?
Royal Stag is a famous whisky brand in India.

3. Which whiskey has the highest alcohol content in India?
Amrut Fusion has one of the highest alcohol contents among Indian whiskies, around 50% ABV.

4. Which is the largest market for whisky?
The United States is the largest market for whisky, with India being a significant and fast-growing market.

5. Who invented whisky in India?
Whisky was introduced to India during British colonial times, with the first distillery set up in the 1820s.

6. What whiskey has no smell?
Most whiskies have a distinct aroma; it's rare to find one without any smell.

 

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The Evolution of Retail: Embracing Omnichannel Strategies
The Evolution of Retail: Embracing Omnichannel Strategies
 

In today’s rapidly evolving retail landscape, the traditional boundaries between online and offline shopping are increasingly blurred. This transformation is driven by the desire to meet consumer expectations of convenience, choice, and care. Key industry leaders shared their insights on navigating this new terrain at a recent IReC X D2C summit, shedding light on how they leverage technology and customer behavior trends to stay ahead.

The Three Cs: Collection, Convenience, and Care

Rajesh Jain, Managing Director and CEO of Lacoste India, emphasized the importance of the three Cs—Collection, Convenience, and Care—in driving customer engagement. Lacoste’s approach to collection involves offering a diverse range of merchandise that embodies the brand’s commitment to relaxed elegance and freedom of movement. These offerings are regularly updated, creating a dynamic shopping experience both online and offline.

The Evolution of Retail: Embracing Omnichannel Strategies

Convenience, according to Jain, is about making shopping a seamless leisure activity. Customers often explore products offline, register their preferences, and make purchases online at their convenience. This trend underscores the importance of an integrated shopping experience that allows customers to switch effortlessly between online and offline channels. Lacoste’s loyalty program, Club Lacoste, plays a crucial role in analyzing customer behavior, revealing that many customers are channel agnostic, purchasing across multiple platforms.

Care for the environment is the third C, reflecting a growing consumer consciousness about sustainable practices. Millennials and Gen Z customers are particularly attuned to the origins and environmental impact of the products they buy, often willing to pay a premium for sustainably produced goods. This shift highlights the need for brands to prioritize eco-friendly practices to build lasting customer loyalty.

Leveraging Technology for a Seamless Experience

Technology is at the heart of modern retail strategies, as highlighted by the insights of Amitabh Suri, CEO of U.S. Polo Assn. India. Suri discussed the critical role technology plays in bridging the gap between online and offline shopping experiences. For U.S. Polo Assn., the challenge lies in creating engaging online content that compensates for the lack of sensory experiences available in physical stores. The goal is to make the online journey as captivating as possible through compelling visuals and interactive content.

The Evolution of Retail: Embracing Omnichannel Strategies

Suri also pointed out the importance of large, visually appealing physical stores. These spaces not only enhance the shopping experience but also tell the brand’s story, offering customers a reason to visit beyond just purchasing products. This approach aligns with the need for brands to create memorable experiences that go beyond mere transactions.

Merging Online and Offline in High-Value Transactions

Saurabh Jain, Co-Founder and CEO of Livspace India highlighted the unique challenges in the home interiors sector, where purchases are high-value, infrequent, and deeply personal. Livspace successfully marries online and offline components to provide a comprehensive customer journey. The digital platform serves as the starting point, offering inspiration and convenience, while physical experience centers provide the tactile interaction necessary for such significant investments.

Saurabh Jain, Co-Founder and CEO of Livspace India

This seamless transition between digital and physical touchpoints is crucial for maintaining customer engagement over the long purchase cycle, which can span several months. By understanding the strengths of each medium, Livspace ensures that customers receive the best of both worlds—online accessibility and offline reliability.

Adapting to Omnichannel Marketing

Anshuk Aggarwal, Co-Founder of Adyogi, discussed the evolution of omni-channel marketing and the integration of online and offline data to optimize advertising strategies. By utilizing tools like Meta’s conversions API and Google’s local inventory ads, brands can measure the impact of online ads on offline sales, allowing for more targeted and effective marketing campaigns. This integration not only improves return on ad spend (ROAS) but also ensures that marketing efforts are aligned with customer behavior across different regions and store locations.

Anshuk Aggarwal, Co-Founder of Adyogi

Aggarwal emphasized the importance of maintaining price parity across channels to ensure a consistent brand experience. This strategy avoids penalizing customers for choosing one shopping method over another and helps build trust and loyalty.

READ MORE: How Retailers are Embracing Sustainability & Making a Difference This World Environment Day

A Unified Retail Experience

The insights shared by these industry leaders underscore the importance of a unified retail experience that leverages the strengths of both online and offline channels. By focusing on collection, convenience, and care, and by investing in the right technologies, brands can create seamless and engaging shopping experiences that meet the evolving expectations of today’s consumers.

As the retail landscape continues to change, the ability to adapt and innovate will be key to success. Brands that can integrate their online and offline strategies effectively, while also addressing the growing demand for sustainability, will be well-positioned to thrive in this dynamic environment.

 

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Top 10 Shirt Brands in Indian Market
Top 10 Shirt Brands in Indian Market
 

Shirts are more than just garments; they are statements of style, personality, and sophistication. In India, where fashion is a vibrant tapestry of tradition and innovation, finding the perfect shirt can be both exhilarating and daunting. Whether you're a trendsetter, a corporate professional, or a casual connoisseur, the right shirt can elevate your look and boost your confidence. But with a plethora of brands trying for your attention, how do you choose the best?

Fear not, we've curated a comprehensive list of the top 10 shirt brands in India for 2024, covering everything from classic elegance to contemporary flair. Join us as we explore the crests of craftsmanship, quality, and style, guiding you through the maze of options to find your perfect fit.

1. John Players

Established in 2002, John Players stands tall among the top shirt brands in India, celebrated for its diverse range of shirts and affordable price range. Known for its comfort and style, John Players' shirts cater to various body shapes and preferences.

Top 10 Shirt Brands in India

Why Choose John Players?

With a range of regular and slim fits, John Players shirts offer comfort and style without compromising on quality. Whether it's a casual outing or a formal event, John Players ensures a satisfactory shopping experience for every fashion enthusiast. The brand offers a range of products, including Checked, Faded, Printed, Self-Design Solid, and Striped, starting at Rs 1500.

Retail Landscape:

John Players has a widespread retail presence across India, with standalone stores, department store tie-ups, and a strong online presence. It competes in the affordable fashion segment and focuses on catering to the youth market.

2. Blackberrys

Established in 1991, Blackberrys is among the best shirt brands in Indian clothing, primarily serving men. Known for its quality fabric and diverse styles, Blackberrys offers shirts suitable for all settings and occasions.

Top 10 Shirt Brands in India

Why Choose Blackberrys?

With a wide range of fits including slim, trim, and comfortably fitted, Blackberrys shirts enhance individuality and style effortlessly. While slightly pricey, Blackberrys shirts are worth the investment, ensuring durability, comfort, and sophistication. The brand offers a range of products that are slender, trim, stylish, comfortably fitted, and priced as low as Rs 1500.

Retail Landscape:

Blackberrys has a strong retail presence in India with exclusive brand outlets, multi-brand outlets, and online sales channels. It competes in the mid-range segment and focuses on providing value for money.

3. Louis Philippe

Louis Philippe is synonymous with men's luxury clothing, offering a blend of tradition and modernity. Established in India in 1989, Louis Philippe has become a premier destination for formal and semi-formal menswear, renowned for its high-end shirts and sophisticated designs.

Top 10 Shirt Brands in India

Why Choose Louis Philippe?

With a range of fits including classic fit, slim fit, and smart fit, Louis Philippe shirts exude style and sophistication for every occasion. Whether it's a traditional gathering or a contemporary event, Louis Philippe ensures impeccable craftsmanship and timeless elegance. The brand offers Checked, Dots, Graphic Print, Patterned, Print, Solid, Textured, and striped as a part of its product portfolio, starting from Rs 1200,

Retail Landscape:

Louis Philippe has an exclusive network of stores in prime locations across India, along with a presence in high-end department stores and online platforms. It competes in the premium segment of the market.

4. Allen Solly

Catering to both men and women, Allen Solly has carved a niche for itself since its inception in 1993. Known for its quality and design, Allen Solly offers a wide selection of shirts for various age categories, making it one of the top shirt brands in India.

Top 10 Shirt Brands in India

Why Choose Allen Solly?

With a range of fits including custom fit, regular fit, and slim fit, Allen Solly caters to diverse body types and preferences. Whether it's a formal occasion or a casual outing, Allen Solly shirts exude timeless elegance and sartorial innovation. Starting from Rs 900, the brand offers a diverse product portfolio including Checked, Dots, Graphic Print, Patterned, Printed, Striped, Solid, Textured, and striped designs.

Retail Landscape:

Allen Solly has a significant retail footprint in India, with exclusive brand outlets, department store tie-ups, and a strong online presence. It competes in the mid to upper-mid-range segment.

5. Peter England

Peter England stands tall among trademarked shirt companies in India, offering a wide range of contemporary styles and consistent fits. Especially popular among young professionals, Peter England's modern and stylish formal attire has become synonymous with fashionable work wear.

Top 10 Shirt Brands in India

Why Choose Peter England?

With a diverse range of fits including athletic, regular, and slim, Peter England bridges the gap between formal and casual wear seamlessly. Whether it's a business meeting or a casual outing, Peter England shirts ensure comfort, style, and affordability. The brand's product selection includes Checked, Printed, Dots, Graphic Print, Striped, Solid, Textured, and striped, starting at Rs 900.

Retail Landscape:

Peter England has a widespread retail presence across India, with standalone stores, department store tie-ups, and a strong online presence. It competes in the mass-market segment and targets price-conscious consumers.

6. Indian Terrain

Indian Terrain has emerged as a prominent player among top shirt brands, particularly popular with the younger demographic. Known for its trendy and hip designs. Indian Terrain offers a wide array of shirts, with a special focus on checked patterns. Additionally, the brand extends its expertise to formal wear, ensuring elegance and style for every occasion.

Top 10 Shirt Brands in India

Why Choose Indian Terrain?

With a commitment to quality and durability, Indian Terrain shirts, crafted entirely from cotton, offer a unique blend of style and longevity. Whether you prefer a slim, normal, or contoured fit, Indian Terrain caters to diverse preferences, making it a go-to destination for fashion-forward individuals. Starting from a price point of Rs 850, the brand offers Checked, Printed, Jacquard, Solid, and striped shirts as a part of its product portfolio.

Retail Landscape:

Indian Terrain has a strong presence in India with its own exclusive stores, multi-brand outlets, and online sales channels. It competes in the mid-range segment of the market.

7. Arrow

Established in 1851, Arrow is India's first international apparel brand, known for its premium selection of men's casual shirts. With a diverse range of styles and patterns, Arrow caters to the discerning gentleman seeking excellence in fashion.

Top 10 Shirt Brands in India

Why Choose Arrow?

With a range of fits including regular fit and slim fit, Arrow shirts offer versatility and elegance for every occasion. Whether it's a formal event or a casual outing, Arrow ensures impeccable craftsmanship and timeless style. In terms of products, the brand offers Checked, Solid, Striped, Patterned Weave, Printed, Self-Design, Heathered, Textured, Color Blocked, Dyed, and Fabric Decoration starting at Rs 799.

Retail Landscape:

Arrow has a significant presence in India through exclusive brand outlets, department store tie-ups, and online platforms. It competes in the mid to upper-mid-range segment.

8. Park Avenue

Owned by the Raymond Group, Park Avenue offers high-end workwear shirts for the meticulous professional. With a restrained color scheme and impeccable craftsmanship, Park Avenue shirts command attention and admiration.

Top 10 Shirt Brands in India

Why Choose Park Avenue?

With a range of regular and slim fits, Park Avenue shirts exude sophistication and elegance for every season. Whether it's a formal meeting or a social gathering, Park Avenue ensures impeccable style and confidence. With prices starting at Rs 600, the brand's product line includes Checked, Solid, Striped, Geometric Print, Band Neck, Floral Print, Printed, and Tie-Dye.

Retail Landscape:

Park Avenue has an extensive retail network across India, including exclusive brand outlets, high-end department stores, and online platforms. It competes in the premium segment and is known for its luxury offerings.

9. Roadster

If you're looking for value-driven shirts, Roadster is the brand for you. Offering a vast selection of casual shirts for both men and women, Roadster enhances your style quotient with patterned, denim, checkered, and solid-colored shirts.

Top 10 Shirt Brands in India

Why Choose Roadster?

With a range of slim and regular fits, Roadster shirts offer comfort and style at an affordable price range. Available exclusively on Myntra, Roadster shirts are perfect for everyday wear, adding a touch of flair to your wardrobe. The brand's product line includes Checked, Dots, Graphic Print, Patterned, Print, Solid, Textured, and Striped, with prices starting at Rs 500.

Retail Landscape:

Roadster has a significant online presence through e-commerce platforms and operates exclusive brand outlets in select cities. It competes in the fast-fashion segment and focuses on offering affordable yet stylish clothing options.

10. Raymond

Since its establishment in 1925, Raymond has been synonymous with custom shirts, offering excellent fit and unparalleled comfort. With a wide selection of shirts for both men and women, Raymond stands apart for its commitment to quality and innovation.

Top 10 Shirt Brands in India

Why Choose Raymond?

Offering a wide range of fits including classic fit, contemporary fit, and modern fit, Raymond caters to diverse preferences and styles. Whether it's a formal affair or a casual outing, Raymond shirts ensure a perfect blend of style, comfort, and confidence. With prices starting at Rs 350, the brand's product line includes Barre, Checks, Butta Fabric, Corduroy, Houndstooth, Intarsia, Jacquard, Knitted, and Oxford.

Retail Landscape:

Raymond has a strong retail presence through its exclusive stores, multi-brand outlets, and online sales channels. It competes in the premium segment and is known for its suiting expertise.

Market Overview:

The apparel market in India is vast and diverse, with both domestic and international brands competing for consumer attention. With a rapidly growing middle class and increasing disposable incomes, the Indian apparel market has been experiencing steady growth over the years. Key factors influencing the market include changing fashion trends, increasing brand consciousness, and the rise of online shopping.

Consumer Behavior:

  1. Brand Consciousness:

Indian consumers are becoming increasingly brand conscious, seeking value, quality, and style from the brands they choose.

  1. Preference for Western Wear:

There has been a shift in consumer preferences towards Western wear, especially among urban youth, influenced by globalization and changing lifestyles.

  1. Online Shopping:

The rise of e-commerce platforms has transformed the way Indians shop for clothing, offering convenience, a wide range of choices, and attractive discounts.

  1. Value for Money:

 Consumers are looking for value-for-money propositions, seeking quality products at affordable prices.

  1. Influence of Celebrities and Influencers:

Celebrity endorsements and influencer marketing play a significant role in shaping consumer preferences and purchasing decisions.

Conclusion

In conclusion, the Indian market offers a plethora of options when it comes to shirt brands, each catering to diverse preferences, styles, and budgets. From established players like Raymond and Louis Philippe to emerging brands like Roadster and John Players, there's something for everyone. Whether you prioritize quality, design, or affordability, these top shirt brands in India ensure a delightful shopping experience, elevating your style and confidence with every wear.

India's best shirt brands offer a remarkable variety that caters to all preferences and needs. Whether you seek the elegance of formal wear or the relaxed vibe of casual shirts, these brands have something for everyone. Embrace the finest in fashion with these top shirt brands in India and elevate your wardrobe with their timeless and stylish offerings. So, why settle for anything less? Embrace the epitome of style with these top-notch shirt brands and make a statement wherever you go.

Top 5 FAQs:

  1. What makes these shirt brands stand out?

These shirt brands stand out for their commitment to quality, diverse styles, and consistent fits, catering to the fashion needs of every individual.

  1. Are these brands suitable for both men and women?

Yes, most of these brands offer a wide selection of shirts for both men and women, ensuring inclusivity and diversity in their collections.

  1. What is the price range of these shirt brands?

The price range varies across brands, starting from as low as Rs 500 and going up to 1,500 and above, depending on the brand and the shirt's design.

  1. Do these brands offer different fits?

Yes, these brands offer various fits, including slim, regular, custom, and bespoke, catering to different body types and style preferences.

  1. Where can I purchase these branded shirts?

These branded shirts are available at exclusive brand outlets, multi-brand retail stores, and online platforms like Myntra and Amazon, providing convenience and accessibility to customers nationwide.

 

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Ten Key Insights for Building Strategic Partnerships in Retail Landscape
Ten Key Insights for Building Strategic Partnerships in Retail Landscape
 

In today's dynamic retail landscape, strategic collaborations between brands have emerged as a vital strategy for unlocking success. At the IREC X D2C 2024 Summit held in Bengaluru, industry experts convened to discuss the transformative power of partnerships in the retail sector. Here are ten key takeaways from the insightful panel discussion.

1)Enhancing Competitiveness through Collaboration:

Strategic collaborations empower brands to leverage each other's strengths, resources, and market reach, fostering innovation and enhancing competitiveness. By pooling resources and expertise, brands can navigate challenges more effectively and capitalize on emerging opportunities in the market.

Deepak Chhabra, Managing Director, Timex Group India, said, “In today’s global village, one should focus on core strengths and seek partnerships that bring value. Especially in the competitive retail space, it’s crucial to tie up with the right partners who also bring a lot of value.”

2)Focus on Core Strengths:

Panelists emphasized the importance of brands focusing on their core strengths and seeking partnerships that complement their capabilities. This strategic approach enables brands to streamline their operations and allocate resources more efficiently, driving sustainable growth in the long run.

Chhabra said, “Strategic partnerships are imperative for success. They help brands enter the market faster, extend their reach, and tap into the consumer bases of their partners.”

3) Right Celebrity Collaborations for Brand Success:

The panel discussed the nuances of celebrity-led brands, highlighting the significance of deep involvement and commitment from celebrities. Authenticity and alignment with the brand's values are crucial for establishing credibility and building trust with consumers, ultimately contributing to the brand's long-term success.

Pallavi Barman, Chief Strategy Advisor, HRX said, “The biggest challenge is to understand the celebrity’s commitment to the brand in terms of availability, their involvement and understanding, among others. So the biggest thing that we have achieved at HRX is that the gentleman, Hrithik, is thoroughly involved with the brand and he has always been a key leader of the business.”

4) Cross-Industry Alliances for Innovation:

Cross-industry alliances offer brands an opportunity to explore new creative avenues and tap into diverse consumer segments. By collaborating with partners outside their traditional domain, brands can drive innovation, expand their market reach, and create unique value propositions for their customers.

5) Licensing Collaboration for Amplification

Licensing collaborations provide brands with the flexibility to extend their brand presence across various categories and geographies. Iconic characters like Chhota Bheem serve as valuable assets for licensing agreements, allowing brands to amplify their reach and engage with consumers in meaningful ways.

Citing an example, Anvita Prasad, Associate Vice President, Green Gold Animation Pvt Ltd shared an exciting collaboration, "So Singapore Tourism wanted to attract Indian families to visit their country. We collaborated with them and created 10 to 12 mini cities with Chota Bheem and friends through storytelling. We were talking about the popular places of Singapore, shopping experiences, cuisine, etc.”

6)Strategic Alliances Drive Market Penetration:

Strategic alliances enable brands to penetrate new markets more efficiently by leveraging the local expertise and networks of their partners. Whether through joint ventures, distribution agreements, or co-marketing initiatives, collaborations facilitate market entry and accelerate growth in unfamiliar territories.

7)Symbiotic Nature of Partnerships:

Collaboration is not just a transactional exchange but a symbiotic relationship where both parties benefit mutually. By sharing resources, knowledge, and market insights, brands can strengthen their market position and create value for their stakeholders, including customers, shareholders, and employees.

8)Customer-Centric Approach:

Throughout the discussions, panelists reiterated the importance of maintaining a customer-centric approach in strategic collaborations. By prioritizing the needs and preferences of their target audience, brands can deliver personalized experiences and build lasting relationships with their customers.

9) Value Creation for Stakeholders:

Strategic collaborations should create value not only for the brands involved but also for their stakeholders, including customers, partners, and employees. By aligning their objectives and fostering a culture of collaboration, brands can maximize the benefits of their partnerships and drive sustainable value creation across the ecosystem.

10) Continuous Adaptation and Learning:

In the fast-paced retail industry, the ability to adapt and learn from collaborations is essential for long-term success. Brands must remain agile and open to experimentation, embracing feedback and insights gleaned from their partnerships to refine their strategies and stay ahead of the curve.

Strategic collaborations represent a powerful tool for driving innovation, competitiveness, and growth in the retail sector. By fostering partnerships that are built on trust, mutual respect, and shared values, brands can unlock new opportunities, expand their market presence, and create lasting value for their stakeholders in an ever-evolving marketplace.

 

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Top 10 Luxury Watch Brands in India: How to Make the Right Choice
Top 10 Luxury Watch Brands in India: How to Make the Right Choice
 

Did you know that Sylvester Stallone, the legendary Hollywood action star, is actually auctioning off the 11th feature of his famous movie "Rocky"? And guess what's included in this exciting sale? The Patek Philippe Grandmaster Chime, valued at a staggering Rs 62 crore! This collection is a showcase of rare timepieces that have been carefully curated over the course of several decades.

Luxury watches have come a long way from being mere timekeeping machines. They have evolved into symbols of artistry, social status, and incredible history. These killer accessories are not just about looking stylish; they represent a legacy of precision, innovation, and sheer elegance. In India, where culture is a vibrant fusion of all things amazing, luxury watches are wholeheartedly embraced as icons of style and heritage. Among the top watch brands in India, these timepieces epitomize elegance and sophistication. When you delve into the world of luxury watch brands in India, you'll discover a perfect blend of tradition and modernity that truly resonates with watch enthusiasts.

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Top 10 Luxury Watch Brands in India: How to Make the Right Choice

 

Top 10 Watch Brands in India

Here are the 10 most-rated luxury watch brands in India:

1. Rolex : Top Watch Brands in India

When it comes to luxury watch brands in India, there's no match for Rolex. It's the epitome of style, success, and timeless elegance. Rolex has gone beyond being just a timekeeper and has become a symbol of status and sophistication. The Rolex Oyster Perpetual and Datejust models are more than just watches; they're heritage pieces that tell stories of achievement and refinement. Known for their impeccable quality and enduring designs, Rolex watches are the definition of luxury that lasts for generations.

Here are some key details about Rolex:

  1. Established Year: 1905
  2. Founders: Hans Wilsdorf and Alfred Davis
  3. Headquarters: Geneva, Switzerland
  4. Products: They offer a range of luxury watches, including popular models like the Submariner, Daytona, and Explorer.
  5. Store Outlets in India: You can find authorized retailers in major cities like Mumbai, Delhi, Bangalore, and Chennai.
  6. Innovations: Rolex has been a pioneer in the industry, introducing the first waterproof wristwatch (Oyster), the first watch with an automatically changing date on the dial (Datejust), and the first wristwatch to show two time zones at once (GMT-Master).
  7. Awards and Recognition: Rolex is renowned for its precision, with many of their models certified as Superlative Chronometers.

Each Rolex timepiece is crafted with utmost care, ensuring precision and durability. Whether you prefer the sporty Submariner or the elegant Day-Date, Rolex has a wide range of models to suit every taste. The brand's commitment to excellence is evident in their rigorous testing and use of top-notch materials. When you invest in a Rolex, you're not just getting a watch; you're acquiring a piece of history that will be cherished for years to come.

2. Franck Muller : Best Watch Brands in India

When it comes to luxury watch brands in India, Franck Muller is a name that really stands out for aficionados of exquisite timepieces. They're known for their innovative designs and intricate complications, which have earned them a special place in the world of high-end watches.

Here are some key details about Franck Muller:

  1. Established Year: 1991
  2. Founder: Franck Muller and Vartan Sirmakes
  3. Headquarters: Genthod, Switzerland
  4. Products: They offer a range of top-tier luxury watches, including the iconic Crazy Hours, Vanguard, and Long Island collections.
  5. Store Outlets in India: You can find their watches at select luxury watch retailers in major cities like Mumbai, Delhi, and Bangalore.
  6. Innovations: Franck Muller is renowned for introducing unique complications like the Crazy Hours, which features a non-linear arrangement of the hour markers, and the Master Banker, designed specifically for international business travelers.
  7. Awards and Recognition: Their timepieces have gained widespread acclaim for their distinctive designs and mechanical sophistication.

Franck Muller watches are more than just accessories; they're true masterpieces that seamlessly blend artistry with mechanical precision. The brand's unwavering commitment to excellence is evident in every meticulous detail and the use of only the finest materials. Not only are Franck Muller watches visually striking, but they also offer exceptional performance, making them the go-to choice for discerning watch enthusiasts in India. Whether you prefer the bold and striking Vanguard collection or the whimsical and unconventional Crazy Hours, Franck Muller watches are guaranteed to leave a lasting impression on both enthusiasts and collectors alike.

3. Omega

Omega stands out in the world of luxury watches with its rich heritage and association with precision timekeeping. Known for its role in space exploration and sports timing, Omega watches are a blend of innovation and timeless elegance.

  1. Established Year: 1848
  2. Founder: Louis Brandt
  3. Headquarters: Biel/Bienne, Switzerland
  4. Products: Luxury watches, including the iconic Speedmaster, Seamaster, and Constellation collections
  5. Store Outlets in India: Multiple authorized retailers in major cities like Mumbai, Delhi, Bangalore, and Chennai
  6. Innovations: First watch worn on the moon (Speedmaster), co-axial escapement technology, and official timekeeper of the Olympic Games
  7. Awards and Recognition: Known for precision, many models are certified as Master Chronometers, meeting rigorous standards set by the Swiss Federal Institute of Metrology (METAS)

Omega watches are celebrated for their robust performance and elegant designs. The Speedmaster, famously known as the "Moonwatch," has been a part of all six lunar missions, while the Seamaster is renowned for its association with James Bond. Omega’s dedication to precision is evident in their stringent testing processes and use of innovative materials. For those seeking the top watch brands in India, Omega offers a perfect blend of history, technology, and style. Whether you're exploring the depths of the ocean with a Seamaster or timing a race with a Speedmaster, Omega watches are among the top 10 watch brands in India built to perform and impress.

4. Breguet

Breguet is a distinguished name in the world of horology, known for its rich history and remarkable precision. As one of the oldest and most prestigious watchmakers, Breguet has been a symbol of innovation and excellence since its founding.

  1. Established Year: 1775
  2. Founder: Abraham-Louis Breguet
  3. Headquarters: L'Abbaye, Switzerland
  4. Products: Luxury watches, including the Classique, Marine, Tradition, and Reine de Naples collections
  5. Store Outlets in India: Available at select high-end retailers in major cities like Mumbai, Delhi, and Bangalore
  6. Innovations: Inventor of the tourbillon, Breguet hands, and the first wristwatch
  7. Awards and Recognition: Known for its technical advancements and elegant designs

Breguet watches are more than just timepieces; they are masterpieces that reflect over two centuries of expertise. Each watch is made with meticulous attention to detail, featuring detailed dials, fine engravings, and complex mechanisms that showcase the brand's dedication to quality. For those seeking the best watch brands in India, Breguet stands out with its blend of tradition and technology.

Whether you prefer classic designs or contemporary innovations, Breguet offers a diverse range of models to suit various tastes. From the refined Classique collection to the maritime-inspired Marine series, Breguet's watches are a testament to the brand's enduring legacy. Among watch brands in India, Breguet holds a distinguished place, offering pieces that are both sophisticated and historically significant.

5. Tag Heuer

TAG Heuer is a prominent name among the best watch brands in India, known for its sporty designs and precision engineering. Renowned for its association with motorsports and high-performance timekeeping, TAG Heuer has made a significant mark in the world of horology. When it comes to luxury watch brands in India, TAG Heuer stands out with its blend of innovation and style, making it a favorite among enthusiasts. Among the various watch brands in India, TAG Heuer offers a diverse range of models that cater to different tastes and preferences.

  1. Established Year: 1860
  2. Founder: Edouard Heuer
  3. Headquarters: La Chaux-de-Fonds, Switzerland
  4. Products: Luxury watches, including the Carrera, Monaco, and Aquaracer collections
  5. Store Outlets in India: Available at multiple authorized retailers in major cities like Mumbai, Delhi, Bangalore, and Chennai
  6. Innovations: Introduced the first oscillating pinion for chronographs, the Monaco, which was the first square water-resistant watch, and the Mikrograph, capable of measuring 1/100th of a second
  7. Awards and Recognition: Celebrated for its contributions to sports timing and precision engineering

TAG Heuer watches are known for their robust performance and contemporary designs. The Carrera collection, inspired by the world of racing, offers a blend of style and functionality, making it a favorite among enthusiasts. The Monaco, with its distinctive square case, has become an icon of modern watch design. The Aquaracer series is tailored for those who seek adventure, offering water resistance and durability.

For those seeking the best watch brands in India, TAG Heuer provides a perfect blend of innovation and elegance. Each timepiece reflects the brand’s commitment to precision and quality. TAG Heuer's watches are not just accessories but reliable companions that enhance both style and performance. Among watch brands in India, TAG Heuer is a preferred choice for those who value heritage and cutting-edge technology.

6. Hublot : Best Watch Brands in India

Hublot is definitely one of the coolest watch brands in India. They're known for their badass designs and innovative use of materials. As a top luxury watch brand in India, Hublot has built a reputation for fusing traditional Swiss watchmaking with a modern twist. When it comes to watch brands in India, Hublot offers a killer combo of craftsmanship and cutting-edge technology that really appeals to all the watch enthusiasts out there.

Let's get down to the facts:

  1. Established Year: 1980
  2. Founder: Carlo Crocco
  3. Headquarters: Nyon, Switzerland
  4. Products: They've got a whole range of luxury watches, including the iconic Big Bang, the classy Classic Fusion, and the bold Spirit of Big Bang collections.
  5. Where to Find Them: You can get your hands on Hublot watches at authorized retailers in major cities like Mumbai, Delhi, Bangalore, and Chennai.
  6. Innovations: These guys have pioneered the "Art of Fusion" concept, which means they mix materials like gold and rubber to create some seriously cool watches. They even came up with the first scratch-resistant 18K gold, known as Magic Gold!
  7. Awards and Recognition: Hublot has been praised for their innovative designs and their use of fancy materials.

Now let's talk about the watches themselves. Hublot timepieces are all about style and cutting-edge technology. The Big Bang collection is a total showstopper, with its bold and dynamic design that really captures the brand's innovative spirit. On the other hand, the Classic Fusion line is all about understated elegance. They take traditional watchmaking techniques and give them a modern twist with some seriously cool materials. And let's not forget about the Spirit of Big Bang series, which stands out with its unique barrel-shaped case and intricate details.

If you're on the hunt for the best watch brands in India, Hublot is definitely a name to remember. They bring together innovation, luxury, and style in the most perfect way. Each Hublot watch is a true testament to their commitment to quality and creativity. Whether you're into the bold and badass vibes of the Big Bang or the refined elegance of the Classic Fusion, Hublot watches are made to make a statement. When it comes to watch brands in India, Hublot is the top choice for those who appreciate a blend of heritage and contemporary flair. So go ahead, rock that wrist bling with confidence!

7. Breitling : Top Watch Brands in India

Breitling is all about adventure and precision, which is why it's a favorite among aviators and explorers. As one of the top watch brands in India, Breitling is known for its tough and functional designs that cater to professionals and enthusiasts alike. When it comes to watch brands in India, Breitling really stands out because they're all about creating timepieces that are both stylish and super practical.

Here are some key details about Breitling:

  1. Established Year: 1884
  2. Founder: Léon Breitling
  3. Headquarters: Grenchen, Switzerland
  4. Products: They make luxury watches, including the awesome Navitimer, Chronomat, and Superocean collections
  5. Store Outlets in India: You can find them at lots of authorized retailers in major cities like Mumbai, Delhi, Bangalore, and Chennai
  6. Innovations: Breitling is the genius behind the first chronograph pushers, they even made a watch with a distress beacon, and they pioneered the slide rule bezel
  7. Awards and Recognition: People love Breitling for being super precise and durable, especially professionals in aviation and diving

Let's talk about the Navitimer series for a sec. These watches are a nod to Breitling's aviation roots and have that cool slide rule bezel. They're not just watches, they're like precision instruments that can track time as accurately as an experienced pilot. It really shows how committed Breitling is to being excellent and reliable. The Chronomat series is a great mix of toughness and sophistication, while the Superocean line is perfect for deep-sea adventurers. So basically, no matter what you're into, Breitling has got you covered.

If you're on the lookout for the best watch brands in India, you can't go wrong with Breitling. They've got innovation, durability, and style all rolled into one. Each Breitling watch is made to the highest quality standards, so you know it's gonna perform flawlessly in any situation. Whether you're a pilot, a diver, or just someone who appreciates a finely crafted timepiece, Breitling definitely stands out among watch brands in India as the top choice. They've got a rich heritage and their performance is second to none.

8. Chopard

Chopard stands out not only for its exquisite watches but also for its commitment to ethical craftsmanship. As one of the best watch brands in India, Chopard is renowned for its luxurious designs and sustainable practices. Among watch brands in India, Chopard offers a unique blend of elegance and responsibility, making it a top choice for discerning buyers.

  1. Established Year: 1860
  2. Founder: Louis-Ulysse Chopard
  3. Headquarters: Geneva, Switzerland
  4. Products: Luxury watches, including the L.U.C., Happy Diamonds, and Mille Miglia collections
  5. Store Outlets in India: Available at select high-end retailers in major cities like Mumbai, Delhi, and Bangalore
  6. Innovations: Use of fair-mined gold in the L.U.C. line, introduction of the Happy Diamonds collection with free-moving diamonds, and advanced in-house movements
  7. Awards and Recognition: Celebrated for its contributions to ethical luxury and its innovative designs

The Chopard L.U.C. line, crafted from fair-mined gold, represents the brand’s dedication to sustainability without compromising on elegance. This collection embodies Chopard's commitment to responsible luxury, appealing to those who seek to balance sophistication with ethical values. The Happy Diamonds series is another iconic collection, featuring free-moving diamonds that create a playful and luxurious aesthetic.

A Chopard watch is a statement of moral sophistication, appealing to those who seek to balance luxury with responsibility. For those looking for luxury watch brands in India, Chopard offers timepieces that are not only beautifully designed but also crafted with a conscience. Each watch reflects the brand's dedication to quality, innovation, and ethical practices. Among watch brands in India, Chopard stands out for its unique combination of style, history, and sustainability, making it a preferred choice for those who value both elegance and ethical production.

9. Longines

With a heritage dating back to the 19th century, Longines continues to captivate watch enthusiasts with its timeless designs. From the athletic sophistication of the HydroConquest to the classic elegance of the Master Collection, Longines offers a range of styles to suit different preferences. A Longines watch is a graceful blend of tradition and modernity, making it a timeless accessory that transcends trends.

10. Bell & Ross

Founded by a team of designers and aviation experts, Bell & Ross creates watches that are both functional instruments and works of art. The brand’s iconic square-cased models are inspired by aviation control panels, making them popular among those who appreciate precision and style. A Bell & Ross watch is for the adventurous and the discerning, embodying a dedication to accuracy and a flair for design.

Top 10 Luxury Watch Brands in India: How to Make the Right Choice

Ways to Choose Right Watch Brand?

Choosing the right luxury watch brand in India involves considering various factors such as personal style, functionality, and the brand’s heritage. Here are some tips to help you make the right choice:

Understand Your Style

Luxury watches come in various styles, from classic and elegant to sporty and modern. Determine your personal style and choose a brand that complements it. For instance, if you prefer timeless elegance, brands like Rolex and Breguet might be ideal. If you lean towards a modern and bold aesthetic, Hublot and Bell & Ross could be more suitable.

Consider the Functionality

Different watch brands offer various functionalities tailored to specific needs. If you are an adventurer or sports enthusiast, brands like Tag Heuer and Breitling, known for their precision and durability, would be excellent choices. For those who prioritize ethical craftsmanship, Chopard offers luxurious timepieces with a commitment to sustainability.

Brand Heritage and Reputation

A watch is not just a timekeeping device; it is a statement of identity and prestige. Consider the heritage and reputation of the brand. Rolex, for instance, is renowned for its legacy of excellence and is often associated with success and sophistication. Omega’s association with space exploration adds a layer of historical significance to its timepieces.

Budget Considerations

Luxury watches come with varying price tags. Establish your budget and explore brands that offer the best value within your range. While some brands like Rolex and Omega are known for their high-end luxury, others like Longines provide a balance of elegance and affordability.

Visit Authorized Retailers

To ensure the authenticity and quality of your purchase, always buy from authorized retailers. Visiting a showroom allows you to experience the watch firsthand, understand its features, and make an informed decision. In Mumbai, Time Avenue is a premier destination for luxury watches, offering an extensive collection of top-tier brands like Rolex, Omega, and Hublot.

Longevity

Properly cared for, a luxury watch will last for several decades (or longer). Check out any of the major watch auctions (Phillips, Christie’s, etc.) and you will find ready evidence of this. Worn regularly over years or decades, a watch becomes intimately associated with its owner. A luxury watch’s ability to stand the test of time means it can be passed down to future generations. It can serve as a meaningful heirloom, rite of passage or long-lasting memento.

FAQ’s on Luxury Watch Brands in India

  1. What are the best luxury watch brands available in India?

Many luxury watch brands are available in India, including Rolex, Omega, TAG Heuer, Patek Philippe, Audemars Piguet, and more. The choice often depends on personal taste, budget, and desired features.

  1. Where can I buy authentic luxury watches in India?

Authorized dealers and boutiques of luxury watch brands are the best places to buy authentic watches. Some well-known retailers in India include Ethos Watches, Kapoor Watch Co., and The Prime - Luxury Watch Boutique.

  1. What is the price range for luxury watches in India?

Luxury watches in India can range widely in price depending on the brand, model, and materials used. Entry-level luxury watches might start around Rs 1 lakh, while high-end models can go up to several crore.

  1. Do luxury watches come with international warranties in India?

Yes, most luxury watch brands provide international warranties that are valid in India. It's essential to purchase from authorized dealers to ensure your warranty is honoured.

  1. Are luxury watches a good investment in India?

Luxury watches can be a good investment as they often retain or appreciate in value over time, particularly limited-edition models or those from prestigious brands. However, it's essential to research and buy wisely to ensure a return on investment.

Conclusion

Best watch brands in India are more than just timepieces; they are symbols of craftsmanship, heritage, and personal style. The market offers a diverse range of brands and models to suit different tastes and budgets, from classic designs to avant-garde complications. Purchasing a luxury watch is not just a transaction but an investment in a piece of artistry and history. It's a decision that reflects an appreciation for quality and an understanding of the value of time.

As the luxury watch market in India continues to evolve, consumers can expect to see more innovation, exclusivity, and personalized service from brands and retailers. Whether as a personal indulgence or an investment opportunity, luxury watches remain a timeless choice for discerning individuals in India who appreciate the finer things in life.

 

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How Retailers are Embracing Sustainability & Making a Difference This World Environment Day
How Retailers are Embracing Sustainability & Making a Difference This World Environment Day
 

In celebration of World Environment Day, a spotlight shines on several leading brands that are showcasing their commitment to sustainability and environmental stewardship. From eco-friendly practices to innovative programs, these retailers are making significant strides towards a greener, more sustainable future, proving that businesses can thrive while prioritizing the planet.

VAHDAM India, a prominent global wellness brand renowned for its premium teas and spices, has made remarkable progress in its environmental, social, and governance (ESG) goals. In its recently released annual Impact Report, the brand highlights several key achievements that underscore its dedication to sustainability. One of the most notable accomplishments is the brand’s recognition as a B Corp-certified company. This globally trusted certification signifies that VAHDAM India meets high standards of social and environmental performance, accountability, and transparency. This certification places the brand among the leaders in the global movement for an inclusive, equitable, and regenerative economy.

How Retailers are Embracing Sustainability & Making a Difference This World Environment Day

Bala Sarda, the Founder & CEO of VAHDAM India, emphasized the company's ethos of "DO GOOD BY DOING GOOD," aiming to create a sustainable impact on both people and the planet. This philosophy is reflected in the brand’s ongoing efforts to maintain its status as a Certified Plastic Neutral and Climate Neutral brand. For four consecutive years, the brand has achieved net-zero plastic and carbon footprints.

“In the financial year 2023-24 alone, we have reduced our carbon footprint by an impressive 15.39 percent and plastic footprint by 24.68 percent compared to the previous year,” said Sarda.

VAHDAM India’s innovations extend to its packaging solutions. The company has made a significant shift to eco-friendly materials, with its pyramid tea bags now made from 100 percent non-GMO cornstarch (PLA). This material industrially decomposes within four days and home-composts within 22-44 months, providing an environmentally sustainable alternative to traditional plastic tea bags.

Beyond environmental initiatives, VAHDAM India is also dedicated to social impact through its flagship CSR program, TEACH ME. Since its launch in 2018, the program has directed a minimum of 1 percent of the company’s revenue towards the education of its farmers' children. This initiative has already impacted over 13,500 children across more than 70 locations, establishing 40+ Digital Learning Centres (DLC) throughout India. The company aims to expand this initiative further, with plans to add 100 more DLCs and reach an additional 32,000 children in the coming year.

Mia by Tanishq, another leader in sustainable practices, is reaffirming its commitment to the environment with its #GoldForGood campaign. This initiative encompasses several impactful actions aimed at fostering a greener planet. One of the standout programs is a special tree plantation drive, wherein Mia will plant a tree for every purchase made at a Mia store during the month of June. This effort is part of the "Trees for Villagers" program in Fatehabad, Haryana, aligning with the World Environment Day theme of "Only One Earth." By contributing to this program, Mia not only emphasizes the importance of preserving the planet for future generations but also creates a tangible positive environmental impact with each customer purchase.

How Retailers are Embracing Sustainability & Making a Difference This World Environment Day

Mia by Tanishq also prioritizes sustainability across its value chain, from stores to manufacturing processes. Most of Mia's jewelry is crafted from recycled gold, significantly reducing the environmental impact associated with mining fresh gold. This practice not only conserves natural resources but also promotes responsible sourcing and sustainable production methods. The brand’s comprehensive 4-P framework—People, Place, Process & Planet—ensures rigorous sustainability standards across its operations, reflecting its dedication to creating beautiful jewelry pieces that honor the planet.

Shyamala Ramanan, Business Head of Mia by Tanishq, highlighted the brand’s mission, stating, "Our #GoldForGood initiatives reflect our dedication to sustainability, ensuring that our customers can make a positive impact with every purchase. At Mia, we believe that style and sustainability can go hand in hand, and we are dedicated to making a positive difference in the world."

Snitch, a leading men's fashion brand, is also making waves in the sustainability sphere with its innovative approach to sustainable fashion. The brand recently integrated Relove, a platform dedicated to promoting sustainable fashion by allowing customers to purchase authenticated preloved Snitch items at significant discounts and sell their own preloved Snitch products. This integration offers customers a seamless and user-friendly experience, enabling them to browse, sell, and purchase preloved items directly from the Snitch website.

How Retailers are Embracing Sustainability & Making a Difference This World Environment Day

The Relove initiative aligns with broader environmental conservation objectives by actively contributing to waste reduction. By keeping products in circulation and out of landfills, Snitch addresses the fashion industry’s substantial carbon footprint, which accounts for approximately 10 percent of global emissions. Through the resale of each garment, Snitch helps save six times its weight in CO2, significantly reducing the fashion industry’s environmental impact. Moreover, this initiative empowers customers to retain cherished pieces while finding new homes for those they no longer wear, fostering a more sustainable and mindful approach to consumption.

Siddharth Dungarwal, Founder and CEO of Snitch, expressed the brand's commitment to sustainable fashion, stating, "The integration of Relove epitomizes our steadfast commitment to sustainable fashion. We believe in offering our customers stylish, high-quality clothing and the opportunity to make eco-conscious choices. By integrating Relove, we empower our customers to contribute to a more sustainable future. This initiative allows them to enjoy their favorite Snitch styles while supporting environmental conservation."

In the beauty industry, brands like Kylie Cosmetics and Anastasia Beverly Hills are leading the charge with their ethical and sustainable practices. Kylie Cosmetics, inspired by Kylie Jenner’s passion for makeup and business, has been a trailblazer since its launch in 2015. The brand’s products are cruelty-free, vegan, gluten-free, and free from parabens and sulfates, ensuring that beauty enthusiasts can enjoy high-quality products without compromising on their values. In 2021, Kylie Cosmetics relaunched as a clean and vegan brand, making its products globally available through select brick-and-mortar retailers and its direct-to-consumer website.

How Retailers are Embracing Sustainability & Making a Difference This World Environment Day

Anastasia Beverly Hills (ABH) is equally dedicated to ethical beauty. The brand has always been committed to cruelty-free product formulation, testing, and development, ensuring that no product is manufactured at the expense of animal testing. ABH also offers a wide range of vegan beauty products, providing responsible beauty choices across various categories including face, brow, eyes, and lips.

In the skincare sector, brands like O3+ Professional and INNISFREE are making significant contributions to sustainability. O3+ Professional adheres to the 3R’s theory of Reduce, Reuse, and Recycle, using recycled materials for all its packaging. This initiative aims to help create a plastic-free world, demonstrating the brand’s commitment to environmental stewardship.

How Retailers are Embracing Sustainability & Making a Difference This World Environment Day

INNISFREE, inspired by Korea’s pristine Jeju Island, incorporates natural ingredients such as green tea, volcanic ash, orchids, and tangerines into its products. The brand prioritizes eco-friendly packaging and responsible production processes, using FSC-certified packaging paper and boxes instead of plastic. INNISFREE’s dedication to sustainability is further exemplified by its development of refillable product options and its commitment to minimizing environmental impact.

READ MORE: The Rise of Sustainable Fashion: Innovations Shaping the Future of Textile Industry

These retailers demonstrate that sustainability and responsible practices are not just possible but integral to modern business operations. By embracing eco-friendly initiatives, from tree plantations and recycled materials to circular economies and clean beauty, these brands are paving the way for a more sustainable future. As consumers, supporting these initiatives can help drive the global movement towards a healthier planet, making every purchase a step towards sustainability.

 

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How Kama Ayurveda Transformed the $18 Billion Ayurveda Industry Globally
How Kama Ayurveda Transformed the $18 Billion Ayurveda Industry Globally
 

Building a brand rooted in Ayurveda, especially when it wasn't widely recognized or respected, posed significant challenges. Vivek Sahni, Founder & Chairman of Kama Ayurveda, successfully navigated these hurdles to establish a global presence. In an exclusive interaction, Sahni shares the brand's journey, challenges faced, and the promising future of Ayurveda in the modern world. From the early days of skepticism and minimal acceptance to becoming a global ambassador of authentic Ayurvedic wellness, Kama Ayurveda's story is one of resilience, dedication, and an unwavering commitment to traditional wisdom. Sahni's insights shed light on how the brand maintained its authenticity while evolving to meet contemporary demands, all the while promoting a holistic approach to beauty and wellness that resonates deeply with today's conscious consumers.

The Genesis of Kama Ayurveda

"I think the most important thing is to figure out why you're doing something," says Vivek Sahni. "You need to be really clear, like, am I doing this to make money? Am I doing this to get fame? What's your purpose? Once you figure out what your purpose is, your journey is defined. For us, it was very clear. It was to take something Indian, traditional, and with proven efficacy out to the world, and that was Ayurveda."

Kama Ayurveda began not just as a business venture but as a mission to present classical, authentic Ayurveda without dilution, using original formulations. "We were in Kerala, we were in Coimbatore, working with pharmacies, exploring thousands of formulations. We looked at concerns like skin issues, dark circles, fine lines, pigmentation, and hair problems like hair fall, dandruff, and itchy scalp. Ayurveda is a system of medicine that heals from the inside out," explains Sahni. The brand embraced the concept of "slow beauty," focusing on natural, long-term results rather than quick fixes.

Kama Ayurveda

Staying True to Authenticity

Twenty-three years later, Kama Ayurveda remains committed to authentic classical Ayurveda. Iconic products like Kumkumadi are continually refined to stay true to their original formulations. Sahni emphasizes, "For us, it's about staying true to authentic classical Ayurveda. The real success of Kama has been to take names like Kumkumadi, Bringadi, Eladi, Urjasara — unheard and unpronounceable 20 years ago — and make them household names. Now, you Google any of them, and you'll find 200 brands selling them."

The brand's dedication to authenticity has paid off. Today, numerous brands sell these once-unknown products, a testament to Kama Ayurveda's influence and success in popularizing traditional Ayurvedic names globally.

Expanding to Global Markets

In 2017, Kama Ayurveda began exploring international markets, a journey that took about six to seven years to materialize. The brand's strategic partnership with Puig, a global investor, facilitated their entry into prestigious locations like Harrods in the UK and a freestanding store in Notting Hill. Each store features Ayurveda doctors offering consultations and treatment rooms providing head massages, body massages, and facials, ensuring the brand's commitment to authentic Ayurveda.

"What is truly extraordinary is that the bestsellers here are the bestsellers in the UK. The hair oil, face oil, and rose water show that human beings are pretty much the same around the world," notes Sahni. This consistency in customer preference underscores the universal appeal of Ayurveda.

Kama Ayurveda

Embracing Q-Commerce

The pandemic necessitated a shift towards Q-commerce, and Kama Ayurveda embraced it with enthusiasm. "We have had no choice but to be available on QC. We started last year just before Diwali. It's been fantastic. It's quite amazing and very exciting," says Sahni. The brand partnered with Blinkit to offer quick delivery services, providing last-minute gift boxes and seasonal kits that proved to be immensely popular, especially during Diwali. This move has made Kama Ayurveda products more accessible, enhancing customer convenience and satisfaction.

The Future of Ayurveda

The global interest in Ayurveda has surged post-COVID-19, and Sahni is optimistic about its future. "We are certainly banking on the fact that Ayurveda will stay. We are sticking with our authentic Ayurvedic story of not diluting formulations. Even our creams, for example, have Ayurvedic oil as the base," he explains. Sahni draws parallels with the global success of yoga, another traditional Indian practice, and hopes Ayurveda will replicate this success worldwide.

Addressing the preferences of Gen Z, Sahni notes, "They're far more educated and conscious about the environment, sustainability, and what they use. This demographics’ awareness and concern for global issues make them a promising audience for Ayurveda, which emphasizes natural and sustainable practices."

Kama Ayurveda's journey from a niche traditional practice to a global brand is a testament to the power of authenticity and dedication. By staying true to classical Ayurveda and adapting to modern demands, the brand has successfully navigated challenges and achieved international acclaim. As Vivek Sahni aptly puts it, "In a world crowded with brands and noise, when you find something authentic and true to its foundation, people automatically come to it." The future of Ayurveda looks promising, and Kama Ayurveda is poised to lead the way.

 

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10 Game-Changing Tips for Seamless Omni-Channel Retail Integration in 2024
10 Game-Changing Tips for Seamless Omni-Channel Retail Integration in 2024
 

The omnichannel approach is transforming retail, aiming to provide a seamless, integrated shopping experience across all customer touchpoints. This approach leverages technology to unify online and offline channels, ensuring customers have a consistent experience regardless of how they choose to shop.

Today, unified commerce is not just about integrating online and offline channels but also about leveraging technology and data to provide a personalized, consistent, and seamless shopping experience. Companies need to overcome operational silos, maintain brand consistency, and ensure data privacy to build customer trust and loyalty. By focusing on these aspects, retailers can successfully navigate the complexities of omnichannel retail and drive growth in a competitive landscape. In a lively discussion among industry leaders such as Berry Singh, COO, ace turtle; Ravi Bable, Head of Marketing, OSPREE Duty Free; Rajiv C. Menon, National Sales and Retail Head, Mia by Tanishq; and Akhil Jain, Executive Director, Madame, several key insights into the implementation and challenges of omnichannel retail were unveiled. Here are the top takeaways.

1. Native Omni-Channel Adoption

Berry Singh's journey with Ace Turtle illustrates the importance of being a native omnichannel player. From its inception, the company focused on bridging online and offline retail. The development of their technological product, Rubicon, enabled brands to accept orders from anywhere and fulfill them from any location. This seamless integration was vital during the transition to omnichannel retail, emphasizing the need for a strong technological backbone to support such a shift.

Berry Singh, COO, ace turtle
Berry Singh, COO, ace turtle

2. Data-Centric Approach

Data plays a critical role in omnichannel retail. Singh highlighted that Ace Turtle does not work with wholesale multi-brand distribution due to the lack of data availability. For a tech-focused company, understanding customer buying patterns and predicting future purchases is crucial. By leveraging data, the brand maps the customer’s omnichannel journey, ensuring they provide the right products at the right time.

3. Single View of Customer and Inventory

A single view of the customer and inventory is the holy grail of omnichannel and personalization, emphasized Akhil Jain. When customers shop, whether online or offline, having a unified view of their interactions helps in providing a personalized experience. Additionally, ensuring inventory visibility across all channels prevents loss of sales. For instance, a product not available in one store might be available in another, and technology can help fulfill such orders seamlessly.

Akhil Jain, Executive Director, Madame
Akhil Jain, Executive Director, Madame

4. Personalization Through Technology

Rajiv Menon emphasized the importance of personalization. By revamping their website and developing an app, Mia by Tanishq made it easier for customers to browse and purchase jewelry. They addressed the cultural challenges of buying jewelry online by implementing features like virtual try-ons and chatbots to assist customers. This personalization helped bridge the gap between the online and offline shopping experiences.

Rajiv C. Menon, National Sales and Retail Head, Mia by Tanishq
Rajiv C. Menon, National Sales and Retail Head, Mia by Tanishq

5. Unified Commerce for Duty-Free Retail

Ravi Bable’s experience with duty-free retail illustrates a unique aspect of omnichannel retailing. Unlike traditional retail, duty-free customers are travelers who can be targeted before they even enter the store. By leveraging pre-booking systems through the Adani One app, they provide a seamless shopping experience. This system ensures that customers can pre-book their orders and collect them conveniently, enhancing their travel experience.

Ravi Bable, Head of Marketing, OSPREE Duty Free
Ravi Bable, Head of Marketing, OSPREE Duty Free

6. Overcoming Siloed Operations

One significant challenge in adopting an omnichannel approach is overcoming siloed operations within organizations. Singh pointed out that traditional retail organizations often have separate teams for different channels, leading to fragmented customer experiences. Ace Turtle addressed this by integrating their operations through a tech platform, ensuring that all customer interactions are unified and consistent.

7. Expanding Retail Presence

For a jewelry brand, expanding their retail presence was crucial. Menon shared that they increased their store count from 40 to 185 within three years, making their brand accessible in more cities. This expansion complemented their online presence, allowing customers to find them through various channels, whether print ads, television, social media, or physical stores. This holistic approach ensured that customers had multiple touchpoints to interact with the brand.

8. Customer Profiling and Insights

Understanding customer behavior across channels is essential. Singh explained that by using smart cameras and customer data platforms, they can profile customers based on their interactions. This profiling helps in providing personalized recommendations and improving the overall shopping experience. However, it also raises concerns about data privacy and security, which companies must address to build customer trust.

9. Maintaining Brand Consistency

Maintaining brand consistency across different locations and channels is challenging. Bable highlighted that in duty-free retail, ensuring a consistent experience across various airports is crucial. They rebranded their stores to provide a seamless experience for travelers, regardless of their departure or arrival points. Consistency in assortment and customer service helps build brand loyalty.

10. Leveraging Technology for Growth

Jain emphasized the role of technology in maintaining stability and driving growth. By integrating CRM tools and creating customer personas, they could better understand and cater to their customers. The use of gamification, digital discovery, and meaningful data insights helped in retaining customers and enhancing their shopping experience. Despite the challenges faced by offline retail, leveraging technology has been instrumental in staying competitive.

 

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How D2C Brands are Blurring the Lines Between Online and Offline Retail
How D2C Brands are Blurring the Lines Between Online and Offline Retail
 

At the IReCxD2C Summit Bengaluru, the Founders Forum panel titled "Insights From The Brands Who Are Disrupting with Hybrid and Retail Strategy in 2024" brought together visionaries who are reshaping the retail landscape. The discussion centered on re-examining store strategies and purpose in an omnichannel world. Leaders from Dragon Hill, XYXX, Fabled Pets, BeYoung, Bold Care, and Elemental converged to share invaluable insights on redefining store strategies and purposes in an omnichannel world. Against the backdrop of a rapidly changing consumer landscape and the continued rise of digital commerce, the panelists shed light on the critical importance of blending online and offline strategies, harnessing consumer insights, and embracing innovation to stay ahead in today's dynamic retail environment.

Embracing the Omnichannel Approach

Dragon Hill, led by Mayur Solanki, is a pioneer in merging technology with retail experiences. Known for its innovative approach, Dragon Hill creates not just products but immersive shopping experiences that captivate customers.

"Our brand is built on integrating cutting-edge technology with customer-centric design," Mayur begins. "From the outset, we aimed to create not just a product but an experience that resonates with our consumers."

Leveraging data analytics has been central to Dragon Hill's strategy. "We use data to refine our product offerings and personalize the shopping experience. It's about making every interaction meaningful and memorable," Mayur emphasizes. This approach has positioned Dragon Hill as a leader in the new era of experiential retail.

Redefining Men's Innerwear

XYXX has made significant strides in the men's innerwear market by focusing on comfort and innovative design. Siddhartha Gondal shares the brand's journey from inception to becoming a household name.

"Our journey began with a simple idea: to redefine men's innerwear with premium fabrics and innovative designs," Siddhartha shares. XYXX's success is attributed to its relentless focus on consumer feedback. "Listening to our customers has been crucial. Their insights help us continuously improve and introduce new features that meet their needs."

Recently, XYXX has expanded its presence in offline retail, opening exclusive brand outlets in key cities. This move aligns with their strategy to create a seamless omnichannel experience for customers.

growth

Quality and Innovation in Pet Care

Varun Sharma's ventures, Fabled Pets and GNV Commodities, reflect his passion for quality and innovation. Fabled Pets is dedicated to providing high-quality, nutritious products for pets, while GNV Commodities focuses on efficient supply chains and exceptional value.

"Fabled Pets was born out of a love for pets and a desire to provide high-quality, nutritious products," Varun explains. At GNV Commodities, the emphasis is on delivering value through quality products and efficient supply chains.

Understanding customer needs and preferences has been key to their strategy. "We use this knowledge to tailor our products and services, ensuring we meet and exceed their expectations," Varun highlights. Both brands have successfully integrated online and offline strategies to enhance customer engagement and satisfaction.

Making Fashion Accessible in Bharat

BeYoung, co-founded by Shivani Soni, is revolutionizing fashion retail for India's Tier II, III, and IV cities. With a mission to make aspirational and affordable products accessible to the mass market, BeYoung has grown significantly by focusing on digital-first strategies.

"Our mission is to make aspirational and affordable products accessible to the mass market," Shivani explains. "We started in Udaipur and have grown significantly by focusing on digital-first strategies."

The pandemic accelerated BeYoung's online presence. "The pandemic pushed us to enhance our online presence. We achieved around Rs 200 crore GMV through our D2C platform, and now we're looking to expand into physical stores and marketplaces," Shivani shares. BeYoung’s strategy involves understanding customer needs and offering customizable options to enhance the shopping experience.

Innovating Men's Wellness

Bold Care is making waves in the men's wellness industry. With a focus on education and accessibility, Bold Care offers a range of products addressing sexual wellness and health.

"We make men's sexual wellness and health products, and education is a big part of our strategy," Parinita Hendre, Business Head, Bold Care says. "We've seen significant growth online and are now expanding into offline retail."

Transitioning to offline retail comes with challenges. "Educating customers in a physical setting is different. We're working on training pharmacy staff and providing informational materials to ensure our customers are well-informed," Parinita adds. Bold Care’s commitment to addressing customer needs through education and innovative products sets it apart in a competitive market.

growth

Building Consistent Retail Experiences

Elemental, under the leadership of Amit Mohta, has become a cornerstone in the retail fixtures industry. Known for building consistent and engaging in-store experiences, Elemental has played a critical role in helping brands transition from online to offline retail.

"We've built over 7,000 stores globally, each reflecting the unique identity of the brand," Amit Mohta, Joint Managing Director, Elemental states. "Consistency in look and feel is crucial for customer recognition and trust."

Amit emphasizes the role of data in designing stores. "We gather insights from various touchpoints to help our clients design stores that not only look great but also enhance the shopping experience," he adds. Elemental’s expertise ensures that every store provides a seamless and engaging customer experience.

Data-Driven Retail Strategies

The panelists agreed that a balanced approach, combining strategic vision with consumer insights, is essential for success in today's retail landscape. Mayur Solanki summarized this sentiment, stating, "In an omnichannel world, data-driven strategies and a deep understanding of customer needs are crucial for creating a seamless shopping experience."

These industry leaders' stories offer valuable lessons for the future of retail, illustrating how innovation, customer-centricity, and data-driven decision-making can drive success. As they continue to adapt and innovate, their insights provide a roadmap for brands looking to thrive in a hybrid and omnichannel world.

The Future of Omnichannel Retail

The insights shared by these industry leaders at the IReCxD2C Summit Bengaluru highlight the importance of a balanced approach, combining strategic vision with consumer insights. As they continue to innovate and adapt, their stories offer valuable lessons for the future of retail.

By embracing an omnichannel approach, leveraging consumer insights, and prioritizing innovation, these brands are not only disrupting the market but also shaping its future. As the retail landscape continues to evolve, it's clear that a strategic blend of online and offline strategies, coupled with a deep understanding of consumer behavior, will be crucial for success. Whether it's Dragon Hill's focus on seamless experiences, XYXX's dedication to customer feedback, or BeYoung's mission of accessibility, each brand exemplifies the power of adaptability and innovation in an ever-changing market.

 

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Role of Artificial Intelligence in Retail
Role of Artificial Intelligence in Retail
 

Artificial intelligence (AI) is swiftly changing the retail sector, by transforming several aspects such as customized suggestions, inventory management, and customer service. Retailers and other brands across the globe are quickly adopting AI-based solutions to enhance automation in their respective stores. The rise of digital technologies is opening fresh opportunities and redefining the benchmarks within the retail sector. Artificial intelligence has the potential to replace traditional retail in its current form by predicting what customers will buy in the future, cutting down costs and bringing an unprecedented level of efficiency and convenience. With the increasing integration of AI into retail operations, we can anticipate a significant enhancement in customization, efficiency, and agility across the sector. Embracing this technology is no longer a choice but a necessity for retailers aiming to stay competitive in a rapidly changing market. This will eventually transform the way we shop and engage with companies in the digital era.

Evolution of AI

Early applications of AI were limited to basic automation of inventory management and simple customer service interactions. Over time, as machine learning algorithms became more sophisticated, AI became more integral in personalizing customer experiences. These AI applications now can be seen in both online and offline domains, be it for internal operations or customer interactions. These innovations are also using cloud technologies to improve consumer experiences. In one of the reports of Accenture, it was mentioned that, “Google and Accenture announced cloud-based retail innovation tools. This partnership smoothly linked Accenture's AI. RETAIL Platform with Google Cloud, demonstrating a commitment to customer success via technology”. By predicting future trends and consumer behavior, retailers can make proactive decisions that enhance efficiency and profitability.

Role of AI

Transformative tool

In the context of the retail Industry, AI refers to the use of advanced algorithms and machine learning technology that can process and react to volumes upon volumes of data by translating that information into real, actionable insights for business performance. For example, NLP powers chatbots and virtual assistants to understand more about customer queries in real-time concurrently. This allows retailers to better understand consumer habits, use it for optimizing inventory management and tailor marketing campaigns. By leveraging AI, retailers can offer more intuitive and responsive customer interactions, predict future trends with greater accuracy, and streamline their operations to achieve higher levels of efficiency and profitability. AI serves as a transformative tool that empowers retailers to innovate and adapt in an increasingly digital marketplace.

            Significant Impact of AI in Retail

Personalization

Predictive Analytics

Virtual Assistants

Heart of AI's impact on customer experience.

A powerful tool that anticipates consumer wants and preferences to improve the experience.

A staple of customer service in retail.

Customize suggestions, promotions, and content to individual tastes.

Identify patterns and trends that indicate future behavior.

Virtual assistants enhance customer satisfaction with rapid responses and 24/7 availability.

Target likely customer groups with adverts and promotions.

 

Dynamic pricing depending on demand, competition, and market factors

 

 

NLP makes customer interactions more natural by understanding and responding to natural language demands.

 

Optimizing retail operations and supply chain management

Inventory Management

Demand Forecasting

Logistics Optimization

Analyze sales data, monitor stock levels, and predict future demand.

Helps retailers choose inventory, prices, and promotions.

Analyze traffic, weather, and other variables to find the best delivery routes.

Helps retailers avoid overstocking and stockouts by optimizing inventory levels.

Helps retailers optimize their supply chains by ensuring that they have the right products in the right quantities at the right time.

Automation of picking, packaging, and sorting improves warehouse management.

Improves order accuracy and minimizes manual stock inspections.

Reduces lead times, minimizes stockouts, and enhances customer satisfaction.

Handle repetitive and labor-intensive tasks more efficiently than human workers, reducing errors and increasing productivity.

Data Privacy and security

As AI permeates the retail sector, overcoming challenges and ethical considerations becomes paramount to harnessing its full potential responsibly. One critical issue is data privacy and security. In the AI era, safeguarding customer information is essential to maintaining trust and complying with regulations, as Flipkart protects consumer data with strong encryption and secure servers, complying with India's Personal Data Protection Bill. Also, Tata Cliq rigorously tests and monitors its recommendation algorithms to provide fair and impartial product choices across consumer demographics. Moreover, upholding fairness and transparency ensures that AI technologies improve retail settings by encouraging trust, diversity, and responsible innovation. Companies like Reliance Retail have set up compliance teams to ensure adherence to local and international regulations, including maintaining transparency in AI decision-making processes and ensuring ethical standards are met. By addressing these challenges head-on, Indian retailers can effectively leverage AI while maintaining customer trust and adhering to ethical standards.

The integration of AI in the retail sector offers transformative opportunities for enhancing customer experiences, optimizing operations, and driving growth. However, the successful adoption of AI hinges on addressing several major concerns that must be addressed to achieve the positive impact of AI systems that are to be implemented in society, as well as several ethical questions that should be taken into account. The future of retail depends on ongoing innovation and deliberate investment in AI technology. As artificial intelligence (AI) continues to advance and reach a higher level of development, merchants need to remain flexible and able to adjust quickly in order to take advantage of new possibilities and maintain a competitive edge.

By embracing these recommendations, the Indian retail industry can effectively harness the power of AI, driving innovation and growth while maintaining ethical standards and customer trust. As AI continues to evolve, its strategic adoption will be crucial for retailers aiming to thrive in the digital age.

 

 

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The Evolution of E-Commerce in the FMCG Sector
The Evolution of E-Commerce in the FMCG Sector
 

In the dynamic realm of Fast-Moving Consumer Goods, the digital revolution is reshaping the way consumers shop and interact with brands. With an increasing number of shoppers turning to online channels for convenience and accessibility, the FMCG industry is witnessing a significant transformation in its e-commerce landscape. Here, we explore the evolving trends and strategies driving this evolution, with a focus on innovation, accessibility, and sustainability.

Trends Reshaping E-Commerce in FMCG

  • Rise of Direct-to-Consumer (D2C) Brands: D2C brands are disrupting traditional retail models by bypassing intermediaries and selling directly to consumers. This approach allows brands to build direct relationships with customers, offering personalized experiences and unique products.
  • Mobile Commerce Dominance: With the widespread adoption of smartphones, mobile commerce has become increasingly prevalent in the FMCG sector. Brands are optimising their e-commerce platforms for mobile devices to cater to on-the-go shoppers.
  • Integration of Online and Offline Channels: Companies are embracing an omnichannel approach, seamlessly integrating their online and offline channels to provide a cohesive shopping experience across multiple touchpoints.
  • Data-Driven Personalization: Advanced data analytics are enabling brands to deliver personalized recommendations and offers based on individual customer preferences, enhancing engagement and loyalty.
  • Focus on Sustainability: Sustainability is emerging as a key consideration for FMCG brands in their e-commerce operations. Companies are implementing eco-friendly packaging solutions and minimising their environmental footprint throughout the supply chain.

Key Elements of E-Commerce Evolution

  • Digital Transformation: Companies are undergoing comprehensive digital transformations, leveraging technologies to enhance the online shopping experience. This includes user-friendly interfaces, secure payment gateways, and streamlined checkout processes.
  • Omnichannel Presence: Brands are creating seamless experiences across multiple channels, allowing customers to transition effortlessly between online and offline shopping environments.
  • Mobile Accessibility: Recognizing the importance of mobile commerce, brands are optimizing their websites and apps for smartphones, ensuring a smooth shopping experience for mobile users.
  • Data Analytics and Personalization: Brands are harnessing the power of data analytics to gain insights into consumer behavior and preferences, enabling them to deliver targeted marketing messages and personalized product recommendations.
  • Supply Chain Innovation: Companies are implementing innovative supply chain solutions to improve inventory management, reduce delivery times, and enhance overall operational efficiency. This includes technologies such as predictive analytics, RFID tracking, and automation.
  • Sustainability Initiatives: Brands are taking proactive steps to minimize their environmental impact, from eco-friendly packaging materials to energy-efficient logistics practices. By adopting sustainable initiatives, companies can appeal to environmentally conscious consumers and differentiate themselves in the market.

As companies continue to evolve and innovate, they are not just setting new benchmarks for the FMCG industry; they are also driving broader shifts in the e-commerce landscape of India. With a relentless focus on meeting the ever-changing needs and preferences of consumers, the FMCG industry is poised for sustained growth and transformation in the digital age. By staying ahead of the curve and embracing innovation, these companies are paving the way for a more dynamic and sustainable future for e-commerce in India.

govind  

    Govind Goyal, Founder, BVPPL

 

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Parag Milk Foods Aims for 15,000 Cows and 1.5 Million Touchpoints by 2027!
Parag Milk Foods Aims for 15,000 Cows and 1.5 Million Touchpoints by 2027!
 

As the demand for dairy products continues to surge, Parag Milk Foods has strategically positioned itself to capture a larger share of the market. Their revenue has crossed Rs 3,000 crore mark on the back of strong brand equity and competitive market positioning. The focus on margin expansion has continued with overall GP margin expansion of 4.2 percent YoY. The company has capitalized on the benign milk prices and expanded its gross margin profile along with premiumization and improvement in the value-added product portfolio.

Akshali Shah, Executive Director, Parag Milk Foods, outlines the company’s ambitious plans to increase retail touchpoints, develop a diverse range of products, and leverage cutting-edge technology to meet the dynamic needs of consumers. With a strong foundation and a forward-looking approach, the brand is set to revolutionize the dairy sector in India, making quality dairy products more accessible than ever before.

Retail Expansion

With a robust presence both domestically and internationally, Parag Milk Foods is focusing on expanding its distribution network within India. "Currently, we have over 500,000 retail touchpoints, and our goal is to increase this to 1.5 million touchpoints within the next three years," says Shah. This strategic expansion aims to bring their quality dairy products to more consumers nationwide. By tripling their retail reach, the company is committed to making its products available to a broader audience, enhancing convenience and accessibility.

Parag

 

Innovating Product Offerings

Innovation is at the core of Parag Milk Foods' product development strategy. "Our New Product Development (NPD) department is continuously exploring innovative products that resonate with the Indian consumer palate," explains Shah. The company is focusing on expanding its premium brands, Pride of Cows and Avvatar, by introducing new product extensions. Additionally, they are keen to broaden their health and nutritional portfolio to meet evolving consumer needs.

A recent venture into the ready-to-eat food segment with the launch of Gowardhan Sweets showcases their commitment to innovation. "We introduced delicacies such as Kaju Katli, Kesar Pedha, and Malai Pedha, with plans to introduce more traditional Indian sweets in the near future," Shah shares. Furthermore, Parag Milk Foods has launched Cream Cheese under the Go brand, catering to the demand for versatile new-age dairy products. These initiatives reflect the company's dedication to continuously evolving its product line-up to meet diverse consumer preferences.

As the global nutrition industry evolves, Parag Milk Foods is gearing up to become a health and nutrition company that provides innovative protein solutions. "We are poised to meet the dynamic demands of modern consumers, ensuring that our products align with their evolving lifestyles and preferences," says Shah. The company’s focus on invention and adapting to consumer trends is essential in maintaining its competitive edge in the market.

Expanding Manufacturing Capabilities

To support its ambitious expansion plans, the company is investing heavily in its manufacturing infrastructure. Today, it boasts three state-of-the-art facilities located in Manchar, Maharashtra, Palamaner, Andhra Pradesh, and Sonipat, Haryana. "Our Rotary Parlour enables an automated milking process, ensuring maximum hygiene and quality standards," Shah highlights. These facilities collectively process 3.5 million liters of milk daily, along with significant production capacities for paneer, cheese, and whey protein.

Additionally, Parag Milk Foods has acquired over 500 acres of land to expand Bhagyalakshmi Dairy Farm. "We aim to accommodate more than 15,000 cows within the next three years," Shah reveals. This expansion is crucial to meeting the growing demand for their high-quality dairy products.

Ensuring Quality amidst Growing Demand

Addressing the growing demand while maintaining high-quality production standards is a strategic priority. The company employs a tailored approach to cater to three key consumer segments: mass, mass-affluent, and premium. "Our unique business model enables us to cater to approximately 80 percent of consumers' daily dietary requirements," Shah explains. By leveraging their state-of-the-art manufacturing facilities and advanced technology, Parag Milk Foods prioritizes stringent quality control measures at every stage of production.

Parag

 

Strategic Collaborations

To enhance their competitive edge, the brand is investing in new technologies and strategic collaborations. The company is working with Boston Consulting Group (BCG) to drive sustainable growth and implement cost-effective practices. "This collaboration marks a significant step forward in our journey towards innovation and efficiency," says Shah.

In terms of digitization, Parag Milk Foods has achieved significant milestones. Over 70 percent of their general trade business is covered under their Sales Force Automation (SFA) initiative, streamlining sales processes and improving operational efficiency. Additionally, they are planning to implement SAP HANA, a cutting-edge technology that will further enhance their capabilities and support their growth trajectory.

"Technology plays a pivotal role in driving innovation and efficiency within the dairy industry," Shah asserts. By leveraging digital optimization and advanced IT solutions, the company enhances operational capabilities, ensures product quality, and meets evolving consumer demands.

Parag Milk Foods is well-positioned for significant growth in the Indian retail market. With a focus on expanding their distribution network, developing innovative products, and leveraging advanced technologies, the company is committed to meeting the dynamic demands of modern consumers. As they triple their retail touchpoints and introduce new product offerings, the company continues to solidify its position as a leader in the dairy industry, delivering quality products to every corner of the market.

 

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The Rise of Premium and Bespoke Products
The Rise of Premium and Bespoke Products
 

In recent years, there has been a noticeable shift towards premium and bespoke products across various industries. This trend is largely driven by a more informed and demanding consumer base that prioritizes quality, customization, and unique experiences over mass-produced items. Social media platforms like Instagram and Facebook have played a significant role in this shift, providing instant exposure to global trends and high-end products. At the recently concluded Startup Summit 2024, during the 20th annual edition of Asia’s Largest Business Show "Franchise India 2024", Tabby Bhatia, Founder, Brune & Bareskin; Kuldeep Singh, Chief Strategy Officer, Sankalp Foods; and Dr. Sukhsagar Virk, Director, Ageology gave insights into modern consumerism and the evolving demand for premium products.

According to Tabby Bhatia, the advent of these platforms has significantly altered consumer behavior in India. “If you see a good product or a fashionable product being worn in the US last night, tomorrow morning India would get to see it and they would want it,” said Bhatia.

Bridging the Gap with Premium Indian Brands

India has historically been dominated by mass-market brands, but there is a growing acceptance and desire for premium Indian brands. Brune & Bareskin, for instance, aims to offer super-premium quality at Indian premium prices. Bhatia highlighted the importance of quality and longevity in products, noting that customers now prefer items that can be refurbished and last longer. This shift is reflected in their impressive customer retention rate, with 70 percent of their customers returning consistently over the past six years. “They want to understand that service of everlasting products,” Bhatia explained, emphasizing the growing preference for quality over quantity.

Localizing Cuisine for Diverse Palates

The trend towards premium products is not limited to fashion and lifestyle but extends to the food industry as well. Sankalp Foods has successfully expanded by localizing its offerings while maintaining its core flavors and quality. Kuldeep Singh stated, “We made sure that we were always consistent with our taste and quality.” By adapting its menu to include local favorites in different regions, the brand ensures that its offerings resonate with local tastes without compromising on its authentic recipes.

Maintaining Consistency and Quality

Consistency in quality is a hallmark of premium brands, and Sankalp Foods exemplifies this by centralizing its cooking process. This ensures that whether you dine at a Sankalp restaurant in Mumbai, Delhi, or even abroad, the taste remains consistent. Singh explained, “We have kind of centralized cooking, so we make food to 90 percent level and send that food to every restaurant or franchisee.” This approach not only maintains quality but also helps manage costs, making it feasible to offer premium products at competitive prices.

The Beauty Industry's Embrace of Premium Care

The beauty industry has also seen a surge in demand for premium care products and services. Dr. Sukhsagar Virk of Ageology noted that their clientele spans from teenagers to seniors, all seeking high-quality skincare solutions. “People are now increasingly getting more conscious about their looks,” Dr. Virk observed, attributing this to the selfie culture and social media influence. Ageology offers holistic care, emphasizing the importance of nutrition, lifestyle changes, and stress management alongside advanced skincare treatments.

The Role of Bespoke Services in Attracting Customers

Bespoke services, which allow for personalized and customizable products, are a significant draw for first-time customers. Bhatia of Brune & Bareskin mentioned that while 70 percent of its sales are off the shelf, the bespoke service often attracts new customers who may initially want a specific design or color combination. This customization builds customer interest and loyalty, eventually leading them to purchase standard products as well. “My customers are also my designers,” Bhatia remarked, highlighting how bespoke designs often become new additions to their catalog.

Omnichannel Strategies for Modern Retail

Modern retail strategies increasingly rely on an omnichannel approach, blending online and offline experiences. Brune & Bareskin leverages this model to cater to diverse customer needs, allowing purchases to be made online with the convenience of in-store exchanges. This flexibility has broadened its customer base, including those who were initially hesitant about online shopping. “There are so many new customers that have come on base and the data is only increased,” Bhatia noted, emphasizing the success of its omnichannel strategy.

Adapting to Global Trends and Local Preferences

Sankalp Foods also showcases how adaptability to local and global trends can drive success. The company has embraced veganism, a growing trend even in traditionally non-vegan cultures like India. By incorporating vegan options, it caters to evolving dietary preferences without alienating its core customer base. Moreover, its strategy of creating multi-brand food courts under one roof allows it to optimize resources and offer a variety of cuisines, appealing to a broader audience.

Expanding Premium Services Through Expertise

In the beauty sector, Dr. Virk of Ageology expanded by ensuring each new clinic is staffed with trained professionals who share the same commitment to quality. This hands-on training ensures that each franchise maintains the high standards that customers expect. “Skincare is something which is learned with lots of years of experience,” Dr. Virk explained, emphasizing the importance of expertise in delivering premium services.

To Conclude

The demand for premium and bespoke products is a clear indication of a market that values quality, personalization, and consistency. Whether it's through localized cuisine, high-end fashion, or advanced skincare, brands that prioritize these elements are seeing increased customer loyalty and growth. The integration of omnichannel strategies further enhances accessibility and convenience, ensuring that premium products are within reach for a wider audience. As consumer expectations continue to evolve, the focus on premium offerings is likely to intensify, driving innovation and excellence across industries.

 

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Don't Miss Out: Insider Secrets from NRF 2024’s Star-Studded Line-Up
Don't Miss Out: Insider Secrets from NRF 2024’s Star-Studded Line-Up
 

Comexposium, a global event organizer, has unveiled an expanded roster of world-renowned speakers and participating brands for the upcoming NRF 2024: Retail’s Big Show Asia Pacific. This highly anticipated event will take place from June 11-13, 2024, at the Sands Expo and Convention Centre in Singapore.

Under the theme “Fast Track Your Success,” NRF 2024: Retail’s Big Show Asia Pacific (APAC) promises an exceptional line-up of conference programs, exhibitions, and retail store tours over the course of the three-day event.

The distinguished list of conference speakers includes:

  • Christopher Thomas-Moore, Chief Digital Officer, Domino’s
  • Jason Kra, President, USA, Li & Fung
  • Laurent Boidevezi, President, Asia Pacific, Moët Hennessy
  • Greg Merrill, Global Head of Digital Transformation, Nike
  • Xu Ying, President, Wumei Technology Group (Wumart)

Christopher Thomas-Moore, Chief Digital Officer at Domino’s, will deliver the opening keynote, drawing from his extensive experience in e-commerce, digital marketing, and retail technology to discuss enhancing customer experiences in the digital era.

Laurent Boidevezi, President for Asia Pacific at Moët Hennessy, will share insights on the division’s retail strategy and the critical role retailers play in Moët Hennessy’s consumer engagement strategy during his keynote address.

Nike’s Greg Merrill will lead a fireside chat on the future of retail, focusing on the concept of "everywhere commerce" and the importance of community and culture. He will offer his perspectives on how global retailers, tech innovators, and startups in the APAC region can navigate the evolving retail landscape.

This event is set to be a pivotal gathering for retail professionals seeking to accelerate their success and stay ahead in the rapidly changing retail environment. IndianRetailer.com is proud to partner with NRF as their official media partner.

"We are thrilled to welcome an exceptional and expanded line-up of speakers to NRF 2024: Retail’s Big Show Asia Pacific. This year, we've brought together some of the most influential and creative minds from around the globe to share their insights and innovations. Our attendees are in for a truly transformative experience that will shape the future of retail in APAC," said Ryf Quail, Managing Director, NRF 2024: Retail’s Big Show Asia Pacific, Comexposium. “Innovating the retail model is not just about keeping pace with technology, which is sure to redefine the future of retail, but more importantly, it’s about understanding and responding to consumer needs with agility and creativity, which is key to securing a thriving future for the retail sector.”

The NRF Innovation Lab, a key highlight of the three-day event, will showcase the most visionary retail technologies available on the market today, spanning AI, AR/VR, machine learning, data analytics and Web3, from but not limited to the following participating innovators:

  • ViSenze: ViSenze’s automated AI platform empowers retail merchants to increase revenue by delivering exceptional experiences that make it easier for shoppers to discover products.
  • Undocked: Featuring Adpaka-patented ad technology platform that provides unmatched context-sensitivity and ad-relevancy.
  • Shopreme: Global technology leader in the scan-and-go sector.
  • MishiPay: MishiPay empowers shoppers to scan and pay for their shopping with their smartphones using a wide variety of payment methods.
  • Whale: Empowering global retailers and brands to boost efficiency, cut costs and deepen customer relationships by driving digitalization.
  • svarmony: Provider of extended reality innovations
  • TROLLEE: Empowering offline retail with digital and intelligent solutions for creating a new ecology of smart retail.
  • Trustana: Help retailers, distributors and brand owners to monetise their product data and drive superior buying experiences for customers.
  • ZERO10: Its flagship product AR Mirror offers real-time try-on experience and empower brands to engage their audiences.

"Don't miss out on the opportunity to be part of the future of retail at NRF 2024: Retail’s Big Show Asia Pacific. Join us to explore groundbreaking ideas, network with top leaders, and experience technologies that are redefining what's possible in retail. Secure your spot today and be at the forefront of transforming retail in APAC,” added Quail.

Retail’s most important event in Asia Pacific takes place in Singapore from June 11-13, 2024. The Asia Pacific edition brings together retail industry leaders from across the region to collaborate on a Pan Asia Pacific stage. Be inspired by the biggest retail leaders across Asia Pacific at Retail’s Big Show Asia Pacific in one of the world’s fastest growing markets. Retail professionals from around the globe can experience three days of educational programming, an all-encompassing Expo featuring the latest retail solutions, as well as an Innovation Lab and Startup Zone featuring breakthrough technologies in Asia Pacific’s retail sector. https://nrfbigshowapac.nrf.com

Conference and exhibition passes are available for purchase via https://www.gevme.com/NRF-2024-Retails-Big-Show-Asia-Pacific

 

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How Farah Khan Ali Transformed Indian Jewelry with Bold Designs and Sustainability
How Farah Khan Ali Transformed Indian Jewelry with Bold Designs and Sustainability
 

Farah Khan Ali, Founder and CEO of Farah Khan Fine Jewellery, has a fascinating story that began unexpectedly. "As a 21-year-old, I had just graduated and was bored with my life," she recalls. "I didn't know what I wanted to do because I had tried interior design, ad film making, television, and I still hadn't found my calling." Her path took a dramatic turn when a friend invited her to accompany her to the Gemological Institute of America (GIA). Initially, it was the allure of living in America that captivated her, but what she found there defined her career.

Farah's transition into the world of gemology was challenging yet rewarding. "When I opened my books of gemology, I was taken aback because they involved the chemical, optical, and physical properties of 99 minerals and their gemstone varieties. And it had nothing to do with jewelry design because that was an aesthetic course, and this was all scientific," she explains. Despite her initial struggle, Farah's determination saw her through. "I decided all my plans of becoming this party animal changed to becoming the Indian nerd. And I ended up studying so much that I topped my class." This achievement marked the beginning of her journey into jewelry design, a field she not only entered but came to revolutionize.

Overcoming Preconceptions

Farah's entry into the jewelry business was met with curiosity and skepticism due to her Bollywood background. "A lot of people were puzzled because I came from the film industry. They couldn’t understand why I didn't want to be an actor," she shares. However, this curiosity quickly turned to respect as they witnessed her dedication and passion. "I think it helped bring people to my door to see what I do. But once they saw that I was serious about what I was doing and I loved what I do, I think that brought them back."

In an industry traditionally dominated by family jewelers, Farah brought a fresh perspective by introducing designer jewelry. "I brought focus and today when I meet a lot of budding new designers, they said, ‘we've been following your career and you're the one who inspired us to be jewelry designers.' So, I think I'm happy I brought focus onto this line." Her innovative approach not only set her apart but also paved the way for many aspiring designers.

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Evolving Trends

The jewelry retail landscape in India has seen significant changes over the past few decades, and Farah Khan has been at the forefront of these transformations. "India has drastically changed from a market of solely investment in jewelry because here people used to buy solely as an investment in gold and diamond, and less in products," she observes. Today, jewelry is not just an investment; it is a form of self-expression. "They buy what can be worn on an everyday basis, and which represent them, like fashion."

This shift has also seen the rise of self-purchase among women. "We have women who are working and buying jewelry for themselves," Farah notes. Modern bridal jewelry has also evolved to be more versatile and wearable. "I have clients who come to me and ask me to design pieces for them that are more wearable, pieces they could layer and wear one at a time or all together, as need be."

Farah's insights into these trends highlight a broader cultural shift towards personal expression and practicality in jewelry, moving away from the traditional focus on investment value alone.

Commitment to Sustainability

Sustainability is a core value for Farah Khan and her brand. "The jewelry industry is recyclable because we use natural products like gold, diamonds, gemstones, which come from the earth," she explains. Farah emphasizes the importance of storytelling in sustainability. "Selling a product without a story is like meeting a person without personality."

Despite the growing popularity of lab-grown diamonds, Farah remains committed to natural gemstones. "As a brand, we're not using lab-grown diamonds because we feel that even though the storytelling of lab-grown diamonds is more conserving of energy, that's not true. It takes more energy to produce the lab-grown diamonds versus natural diamonds." This commitment to authenticity and sustainability is a cornerstone of her brand's ethos.

She believes in creating pieces that tell a story and resonate with the wearer. "When I launched my brand, Farah Khan Atelier during COVID, I chose a Quatrefoil, which was a four-sided ornament, and I named it Aayat because in Urdu it means miracle, and I wanted to remind people that we are the miracle we seek."

Collaborations and Expansions

Farah Khan Fine Jewellery has successfully collaborated with prominent brands, enhancing visibility and reach. "I have collaborated with one of India's largest jewelry chains Tanishq for two years, where we co-branded and created jewelry for 40 different stores in 23 cities of India. That was a huge success," she reveals. These collaborations have allowed her to reach a wider audience and bring her unique designs to more people.

"For me, collaborations are important because they help us get more visibility and tell the brand story." Her collabs extend beyond jewelry to other industries, showcasing her versatility as a designer. "We've partnered with non-jewelry companies like Stern Hagen, Carousel, and even Magnum ice creams. As a designer, collaborations are important as they help more people who love your product and want your product."

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Franchising and the Omnichannel Approach

As Farah looks to expand her brand, she is keen on franchising. "I'm looking at opening at least 10 franchises within the next one year in India," she states. She seeks partners who appreciate beautiful jewelry and the unique story behind each piece. "As a brand, I think I come with a niche offering designer jewelry at Indian pricing."

Farah understands the importance of integrating online and offline channels in today's retail environment. "It's important to be online because today the millennials are all the time on their phone, so you need to be where people are looking and spending all their time," she emphasizes. A strong offline presence builds trust and authenticity, making it easier to transition to online sales. "When you're a well-known brand who's known for authenticity trust and you've built a reputation over the years moving to the online channel is much easier."

Farah's jewelry is available internationally, including in Neiman Marcus in the US and various locations in Dubai.

The Journey of Craftsmanship and Innovation

With over three decades of experience, Farah Khan Ali has cemented her reputation as a visionary designer, storyteller, and master craftsman. "I don’t love to design, I live to design," Farah passionately declares. At the heart of her brand lies a legacy of excellence—a commitment to craftsmanship, quality, and distinction that sets Farah Khan Fine Jewellery apart from the rest. Her designs are a testament to her boldness and creativity, each piece infused with a flamboyant flair and an unexpected twist that is unmistakably hers.

Farah's own travels serve as a catalyst for her creativity, bringing new perspectives and fresh inspiration to her designs. With an insatiable thirst for adventure and a heart that beats with the rhythm of wanderlust, she traverses the globe, seeking out hidden gems and untold stories that lie beyond the horizon. Nature's symphony serves as a guiding light for Farah's creative vision, infusing each piece with the boundless beauty and intricate details found in the natural world. But it is not just nature's bounty that inspires Farah—it is also the rich architectural wonders that dot the globe. Farah finds solace and inspiration in the poetic harmony of geometric precision and natural splendor.

 

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Key Takeaways from India’s Modern Hybrid Retailers
Key Takeaways from India’s Modern Hybrid Retailers
 

Being a part of the retail industry, being able to adapt and innovate has become paramount. Today, businesses face the daunting task of transforming into modern, innovative hybrid retailers—a journey marked by the fusion of purpose and innovation.

It is evident, that traditional paradigms are being upended as companies embrace technology-driven solutions aimed at enhancing operational efficiency and bolstering profitability in a fiercely competitive marketplace.

At IReCxD2C 2024, Bengaluru, NS Satish, President, Haier Appliances India; Lavanya Nalli, Vice Chairperson, Nalli Group; Santosh Kumar, Chief Business Officer, and Head Strategic Growth, FreshToHome; Adrit Mishra, COO, Starbucks; and Ankita Thakur - Co-Founder & Chief Data Officer - GeoIQ offered a unique perspective on the transformation into modern, innovative hybrid retailers.

Transforming into a Modern, Innovative Hybrid Retailer

Challenging the Status Quo

NS Satish, President of Haier Appliances India, highlighted the significant shifts in the appliance industry as it transitions towards an omnichannel approach. "In a high involvement category like ours, the consumer's decision-making process has evolved. Previously, the repurchase cycle for appliances was about 10 years, but now it has decreased to 6-7 years," Satish explained. This shift has necessitated rapid innovation and a departure from traditional marketing strategies.

One of Haier's key innovations was the introduction of the bottom-mounted refrigerator. "We found that consumers use the refrigerator section much more frequently than the freezer. By placing the refrigerator section on top and the freezer at the bottom, we addressed a significant pain point, leading to a 75 percent market share in this segment," Satish noted.

Haier has also embraced digital transformation aggressively. "We shifted from traditional marketing to a digital-first approach, reducing our print advertising from 80 to just 20 percent. This summer, we didn’t release a single print ad, focusing entirely on digital channels," said Satish. This strategy has paid off, with Haier experiencing a 26 percent CAGR growth over the past five years and increasing market share month by month.

Navigating Legacy and Innovation

Lavanya Nalli, Vice Chairperson of the Nalli Group, provided insights into how a legacy brand adapts to the digital era. Nalli, known for its rich heritage in silk sarees, is on the brink of celebrating its 100th anniversary. "Being a privately held, family-run business, expanding and integrating omnichannel strategies required careful navigation of internal resistance and leveraging internal accruals for growth," Nalli shared.

Meanwhile, Lavanya Nalli embarks on a journey of transformation within the hallowed halls of Nalli Group, a bastion of tradition in India's retail landscape. With a legacy spanning nearly a century, Nalli stands as a testament to resilience and adaptability. For Lavanya, the transition into omnichannel retailing posed unique challenges, chief among them, internal resistance.

"The biggest challenges that you would face is from your own divisions," Lavanya acknowledges. Yet, armed with a Harvard MBA and a wealth of experience in the digital realm, she steered Nalli towards uncharted waters, navigating the complexities of tradition and innovation with finesse.

While cautious of diluting the brand's integrity, she remains open to strategic partnerships that complement Nalli's storied legacy.Nalli's approach to omnichannel integration has been iterative. "We focused on owning certain parts of our value chain where we had a competitive advantage, like our homegrown tech system. We recently underwent a significant tech migration to better align with industry standards," Lavanya highlighted. This adaptive strategy has allowed Nalli to maintain its heritage while staying relevant in the modern market.

A Blend of Tradition and Innovation

In a nation as diverse as India, where culinary tastes and consumer habits vary dramatically from region to region, maintaining brand consistency across multiple cities can be a daunting task. However, for Adrit Mishra, the COO of Starbucks India, it's all about finding the perfect balance between familiarity and innovation.

"At Starbucks, we realized that honoring familiarity while embracing innovation is key to our success in India," Mishra explains. "We tailored our menu to include familiar items like masala chai and filter coffee, alongside innovative offerings like Frappuccinos inspired by local festivals."

But it's not just about product innovation; Mishra emphasizes the significance of engaging consumers through experiences like coffee tastings.

When it comes to retail expansion, Mishra stresses the need to focus on consumer behavior and product relevance. "Expanding beyond the first 100 locations requires a deep understanding of consumer demographics and preferences," he explains. "We've also prioritized diversity and inclusivity in our workforce, with 40 percent of our employees being female."

Mishra further discussed the role of personalization in the brand's strategy and states, "Starbucks has always been about creating personalized experiences. In the omnichannel era, this means leveraging data analytics to understand our customers better and offer tailored experiences both online and in-store."

Redefining Freshness in the Digital Age

FreshToHome, a digital-first player in the Indian market, has redefined the concept of freshness in the seafood and meat industry. Santosh Kumar, the Chief Business Officer, attributes their success to a singular vision: providing toxin-free products to customers.

"Our commitment to offering toxin-free products has been our guiding principle," Kumar states. "By leveraging technology and a robust cold chain supply system, we ensure that our products reach customers' homes as fresh as possible."

Kumar acknowledges the challenges of managing inventory and minimizing wastage in a perishable goods market. "Maintaining a balance between assortment and inventory levels is crucial," he explains. "We continuously refine our supply chain processes to optimize efficiency."

For FreshToHome, data analytics plays a pivotal role in driving business decisions and enhancing customer experience. "We leverage technology to analyze demand patterns and optimize our supply chain," Kumar says. "By understanding customer behavior, we can tailor our offerings to meet their needs."

Leveraging Data for Informed Expansion

Ankita Thakur, Co-Founder & Chief Data Officer of GeoIQ, emphasizes the importance of data-driven decision-making in retail expansion. "Traditionally, retail expansion has relied on anecdotal data and personal biases," Thakur explains. "We're challenging this approach by providing brands with actionable insights based on data analytics."

Thakur highlights the role of location intelligence in understanding market potential and consumer behavior. "By analyzing footfall, demographic fit, and competitor presence, we help brands identify optimal locations for expansion," she says.

Building trust with retailers is crucial for GeoIQ, Thakur notes. "We work closely with brands to explain our methodology and ensure alignment with their expansion goals," she explains. "Transparency and collaboration are key to fostering trust."

 

As the summit draws to a close, a common thread emerges from the discourse: the synergy between tradition and innovation. While Haier and Nalli exemplify divergent paths to modernization, both recognize the importance of collaboration and innovation in navigating the nexus of tradition and innovation.

Satish champions the role of online platforms in reshaping the retail landscape, urging brands to embrace digital transformation. In contrast, Lavanya approaches collaboration with caution, mindful of preserving Nalli's heritage amidst a sea of change.

Moreover, Starbucks' approach of integrating local flavors, innovating with product sizes, and emphasizing coffee culture highlights the importance of customization and consumer education in brand expansion. FreshToHome's commitment to providing toxin-free, fresh products underscores the need for robust supply chain management and the use of technology to optimize operations. GeoIQ’s data analytics platform showcases the power of location intelligence in making informed retail decisions.

As India continues to evolve into a retail powerhouse, the blend of digital and physical experiences will be crucial. Retailers must focus on personalized consumer experiences, innovative product offerings, and efficient operations to thrive in this dynamic landscape.

In the words of Adrit Mishra, COO of Starbucks, "It's the people who make the difference in an experience industry." This sentiment echoes across the retail spectrum, reminding us that while technology and innovation are essential, the human element remains at the heart of successful retail transformation.

 

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Branded Jewelers Anticipate 20 pc Revenue Surge in FY25, Margin Growth May Ease
Branded Jewelers Anticipate 20 pc Revenue Surge in FY25, Margin Growth May Ease
 

The domestic jewelry industry is expected to record muted volume growth in FY25 due to a steep rise in gold prices in recent months, the evolving macroeconomic scenario, and the likelihood of high volatility in prices. However, branded jewelry retailers are expected to record healthy revenue growth of 20-22 percent on a YoY basis in FY2025, with projected volume growth of around 5 percent YoY, driven by aggressive store additions, changing consumer preferences, continued rise in gold prices, and steady wedding and festive demand due to the strong cultural affinity of Indians to gold.

Accelerated Store Additions by Branded Jewelers Amid Changing Consumer Preferences

After a brief hiatus in FY2021 and FY2022 due to pandemic-induced uncertainties, most jewelry retailers recommenced their store addition plans in FY2023 and continued in FY2024 with an addition of around 260 stores by the top six listed jewelry retailers. Despite expectations of high volatility in gold prices translating into muted same-store-volume growth for the industry, branded jewelers are expected to record healthy revenue growth. However, their profitability may be impacted by front-loaded operating expenses on new stores, higher advertising expenditures, and increased discounting.

Branded Jewelers Anticipate 20 pc Revenue Surge in FY25, Margin Growth May Ease

Impact of Aggressive Store Additions on Financial Performance

Despite expectations of muted same-store-volume growth due to volatile gold prices, branded jewelers are expected to see healthy revenue growth due to new store contributions and sustained rises in gold prices. However, profitability may be impacted by front-loaded operating expenses on new stores, higher advertising expenditures, and increased discounting. This might be partially mitigated by inventory gains and economies of scale.

Credit Metrics and Store Expansion Strategy

Credit metrics of jewelry retailers are expected to remain comfortable in FY2025, with median gearing below 1.0 times and median interest cover above 4.0 times. Jewelers are expected to open around 70 percent of new stores under the franchisee model, thereby keeping incremental capital requirements in check.

Factors Inducing Gold Price Volatility

Average gold prices rose by 14 percent on a YoY basis in FY2024 with heightened volatility in H2 FY24 owing to global geopolitical tensions and evolving macroeconomic scenarios. Factors inducing volatility include global geopolitical uncertainties, evolving macroeconomic landscapes, steady demand from Chinese consumers, and the impact of volatile gold prices on domestic jewelry demand.

Branded Jewelers Anticipate 20 pc Revenue Surge in FY25, Margin Growth May Ease

Industry Volume Growth and CareEdge Ratings’ View

India's domestic gold jewelry demand volumes declined by 1 percent on a YoY basis in 9M FY2024, largely due to elevated price levels. CareEdge Ratings expects domestic jewelry volume growth to remain muted over the coming quarters. Nevertheless, they anticipate branded jewelry retailers to outperform the industry in revenue growth in the medium term, aided by expanding store networks and shifting consumer preferences.

Sudarshan Shreenivas, Director at CareEdge Ratings, expects muted volume growth for the domestic jewelry retail industry in FY2025, citing factors such as high gold price volatility and evolving global geopolitical and macroeconomic landscapes as key demand constraints. However, factors like expectations of a normal monsoon in CY2025 and sustained demand for gold during weddings and festivals in India are expected to support demand in the near-to-medium term.

 

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Hyperpersonalization: Where Every Click Counts
Hyperpersonalization: Where Every Click Counts
 

Currently, we are in an era, where the right message to the right consumer, at the right time through the right channel holds the utmost importance. Every online action of the consumer, from clicking to swiping, and scrolling, has significant value as it forms the foundation of a customized experience for customers, known as ‘Hyperpersonalization’.

Hyperpersonalization is transforming consumer engagement in profound ways, and it's not just a buzzword or trend. It emerges as a game-changer that is reshaping the way brands interact and goes beyond marketing jargon. The term signifies a new era in customer engagement, offering unprecedented levels of customization and relevance, beyond traditional marketing. In simple terms, it's about understanding customers’ preferences, predicting their desires, and delivering tailor-made experiences that feel like they were crafted just for them.

Unveil the Mechanism

In the modern business environment, businesses aim to create meaningful moments by integrating data analytics, real-time engagement, and artificial intelligence. It is important to understand the science behind this magic, which empowers businesses and transforms the way businesses engage with their customers. Hyperpersonalization is crucial to improving customer experience, fostering relationships, boosting engagement, and increasing conversions. Businesses have to understand this wealth of information from the ocean of data that focuses on consumer demographics, purchase patterns, browsing history, and the way the customer interacts on social media. Evolving technology and rising customer expectations are the cornerstone of customer engagement. Recognizing and catering to individual differences is crucial in the digital age. In essence, data analytics comprehend the preferences, and AI transforms the data to predict future needs and provide customized experiences in real time.

Several Indian brands have been achieving great success by sending personalized emails, tailoring recommendations, and customizing offers to meet the specific needs of their customers. Some notable examples include Flipkart, which has been effectively enhancing customer loyalty, Hotstar, which offers a distinctive watching experience, and Tanishq, which provides a personalized experience both online and offline, among many others.

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Driving Satisfaction and Conversion Rates

Hyperpersonalization transcends conventional one-size-fits-all approaches by customizing experiences based on individual tastes and behaviors, resulting in unmatched levels of relevance and resonance. Armed with customer information through advanced data analytics and artificial intelligence businesses are personalizing interactions across various touchpoints, from tailored product recommendations to customized marketing messages. Customized content enhances brand perception, promoting loyalty. It also acts as a catalyst for driving conversion rates as it facilitates upselling and cross-selling opportunities by showcasing complementary products or services based on individual preferences. Amazon uses advanced algorithms to suggest products to its massive customer base, Netflix also uses viewer data to propose content, improving customer happiness and retention.

Balance Customization with Responsibility

 Businesses who are looking to enhance their customers' experiences and increase engagement can benefit greatly from hyperpersonalization. It holds immense promise for achieving these goals. The collection and usage of extensive consumer data give rise to concerns regarding transparency and consent. Businesses should ensure that consumers should be well-versed about how their data and information are used. By prioritizing transparency, consent, and fairness, brands can harness the power of customization while respecting the rights and dignity of their customers. Brands must be transparent about data collection, communicating usage and providing opt-out options. To mitigate the risk of algorithmic bias, businesses must take proactive steps to ensure fairness and equity in hyperpersonalization. In addition to self-regulation, governmental regulations such as the General Data Protection Regulation (GDPR) also play a crucial role in safeguarding consumer rights in the era of hyperpersonalization.

Master Hyperpersonalization

Businesses seeking to harness the power of hyperpersonalization invest in robust data collection and analysis capabilities to gather insights into customer preferences, behaviors, and intents. AI helps businesses personalize experiences with real-time recommendations and customer preference predictions. Businesses can unlock the full potential of hyper-personalization by fostering a culture of innovation and prioritizing transparency and trust. Hyperpersonalization represents not just a strategy, but a mindset—a commitment to understanding and serving the unique needs of each customer, driving satisfaction, loyalty, and ultimately, business success.

 

 

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The Future of Retail: Innovations and Challenges for Malls
The Future of Retail: Innovations and Challenges for Malls
 

The future of retail is undergoing a significant transformation, marked by innovations and challenges for malls. Retailers are adapting to changing consumer demands and technological advancements to create enriched experiences and sustainable practices within shopping spaces. Here are some key points from the sources provided:

Innovations in Retail Technology

Advancements in technology are revolutionizing the retail experience, offering innovative solutions to enhance customer engagement and streamline operations. One such innovation is the integration of augmented reality and virtual reality technologies, allowing shoppers to visualize products in a virtual environment before making a purchase. This immersive experience not only enriches the shopping journey but also reduces the likelihood of returns, thereby improving efficiency for retailers.

Furthermore, the rise of artificial intelligence and machine learning is enabling malls to personalize the shopping experience based on individual preferences and behaviors. By analyzing vast amounts of data, AI algorithms can recommend products tailored to each customer, driving sales and fostering loyalty.

The Evolution of Shopping Malls

Malls are transitioning from traditional shopping centers to lifestyle destinations, offering a diverse mix of shopping, entertainment, and experiential elements. This shift is driven by the need to attract and retain post-pandemic shoppers who seek more than just a transactional experience. Retailers are incorporating digitally native brands, pop-up shops, and interactive digital experiences to create a more engaging and immersive shopping environment. Malls are becoming hubs for community events, workshops, and exhibitions, transforming them into versatile spaces that cater to a broader range of interests.

Malls

 

Consumer-Centric Approach

Retailers are placing a greater emphasis on personalized shopping experiences, leveraging technology to enhance customer engagement and provide seamless online-to-offline experiences. Augmented reality (AR), artificial intelligence (AI), and interactive displays are being used to offer customized product recommendations, virtual try-ons, and intuitive navigation within the physical retail space. By understanding and catering to the evolving needs and preferences of consumers, malls can create a more compelling and memorable shopping journey, fostering stronger brand loyalty and repeat visits.

Sustainable Retail Spaces

Sustainability has become a key priority in the retail industry, and malls are leading the charge in adopting eco-friendly practices. Retail spaces are being designed with a focus on energy efficiency, the use of sustainable materials, and the implementation of green initiatives. This shift towards sustainability not only reduces the carbon footprint of malls but also appeals to environmentally conscious consumers who are increasingly demanding more responsible and sustainable retail experiences.

Challenges Faced by Malls

Despite the innovative approaches being adopted, malls are facing significant challenges in the current retail landscape. The rise of e-commerce, changing consumer demographics, and the demand for more engaging shopping experiences have reshaped the role of malls in people's lives. Malls must adapt to these challenges by differentiating themselves and offering unique value propositions to remain relevant. This may involve creating immersive experiences, diversifying their tenant mix, and leveraging technology to enhance the overall shopping experience.

In conclusion, the future of retail malls lies in embracing innovation, adapting to changing consumer preferences, and creating versatile spaces that cater to a wide range of interests. By leveraging technology, prioritizing sustainability, and fostering a consumer-centric approach, malls can position themselves as dynamic and engaging destinations that meet the evolving needs of shoppers in 2024 and beyond .As the retail landscape continues to evolve, malls that are willing to embrace change and innovation will be better equipped to thrive in the years to come. By staying ahead of the curve and addressing the challenges they face, malls can reinvent themselves as vibrant, multifunctional hubs that offer a compelling and memorable shopping experience for consumers.

Author

 

Authored by: Sampada Pednekar, Marketing Head Growel’s 101 Mall

A seasoned shopping centre marketing professional with a firm understanding of shopping centre marketing trends and strategies. Background includes above 14 years of shopping centre management experience in both traditional and digital marketing campaigns. Excellence in articulating organisation’s desired image and position through innovating and growth propelling marketing campaigns. Skilled in engaging customers with effective marketing strategies. Successful marketing leader with proven accomplishments in driving footfalls, revenue and repeat purchases. Known for adding value to business through customer relationship management (CRM). Experienced in planning and managing all stages of campaigns, strategies, deepening partnerships and boosting sales with creative and proactive approaches.

 

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How Arya Vaidya Pharmacy Coimbatore Ltd Became a Global Ayurvedic Giant
How Arya Vaidya Pharmacy Coimbatore Ltd Became a Global Ayurvedic Giant
 

Arya Vaidya Pharmacy Coimbatore Ltd (AVP), under the visionary leadership of its dynamic CEO, Vipin Vijay, has transformed from a localized Ayurvedic company into a globally recognized name in holistic wellness. The journey of AVP reflects a profound commitment to traditional Ayurvedic knowledge, strategic expansion, and the seamless integration of modern innovations. In an in-depth interview, Vijay shares insights into the strategies, challenges, and future vision that have driven AVP's remarkable growth.

A Legacy of Healing Through Ayurveda

Founded over 80 years ago, AVP has always been dedicated to the core philosophy of "Healing Through Ayurveda," encapsulated in the principles of A - Achaar (conduct), V - Vichaar (thought), and P - Prachaar (propagation). Ayurveda, a precious gift passed down through generations, is at the heart of AVP's mission to make this ancient science accessible to all. Over the decades, AVP has expanded its operations beyond Ayurvedic medicine manufacturing to include treatment centers, education and research, and the manufacturing of Ayurvedic equipment. This comprehensive approach ensures the highest quality of products, practitioners, and services.

Vipin Vijay recounts the journey from a localized entity to a pan-India presence with a sense of pride and nostalgia. "AVP was always founded as a very local, traditional Ayurvedic company, deeply rooted in South Indian traditions," he says. The company's initial focus was on distributing medicines within Kerala, Tamil Nadu, Karnataka, and other neighboring states. Over time, the reputation for quality and authenticity allowed AVP to expand its reach across India.

The expansion strategy involved extensive training programs for Ayurvedic practitioners (vaidyas) from across the country. "We conducted training for vaidyas from North India, introducing them to South Indian traditions," Vijay explains. This educational approach helped bridge the gap between regional Ayurvedic practices, fostering a unified understanding and appreciation of Ayurveda. This effort gradually transformed AVP into a pan-Indian company, with a strong focus on tradition and authenticity.

A Robust Omnichannel Presence

Today, AVP boasts a robust omnichannel presence, ensuring its products and services are accessible through multiple channels. The distribution network, comprising over 2,000 direct consumer connect points, forms the backbone of AVP's operations. "We established our own agency network, connecting directly with consumers through Ayurvedic pharmacies," Vijay notes. This network ensures that AVP's products are available in dedicated outlets where consumers can receive expert advice from trained practitioners.

In addition to traditional distribution channels, AVP has ventured into retail, offering a range of consumer-friendly products such as Ayurvedic shampoos, face creams, and pain relief products. These products, formulated using natural ingredients and free from artificial preservatives, cater to modern consumer preferences while staying true to traditional Ayurvedic principles. "Our R&D team works tirelessly to innovate while preserving the hereditary knowledge passed down through generations," Vijay emphasizes.

A Global Footprint

AVP's international expansion has been equally impressive, with a strong presence in various regions, including Europe, the Middle East, and Southeast Asia. Vijay highlights the importance of understanding local markets and regulatory environments. "In Oman, for example, our products are approved as medicines by the Ministry of Health. Similarly, in Malaysia, we have registered our products through rigorous legal processes," he explains.

The company's holistic approach to wellness, encompassing both products and treatments, has resonated with international consumers. AVP operates wellness centers and franchises in several countries, offering authentic Ayurvedic treatments. "About 20-30 percent of our customers in India are of foreign origin, seeking holistic health solutions," Vijay adds. This global recognition underscores AVP's commitment to delivering high-quality Ayurvedic care.

Ensuring Quality and Authenticity

Ensuring the quality and authenticity of Ayurvedic products is paramount for AVP. Vijay describes the company's rigorous quality control processes, which blend traditional practices with modern scientific validation. "We make sure our products are produced by qualified vaidyas who understand the nuances of Ayurveda," he states. The use of advanced technologies, such as HPTLC for molecular structure analysis, ensures that AVP's products meet the highest standards of purity and efficacy.

Vijay also emphasizes the importance of sustainable sourcing and ethical production practices. "We invest heavily in R&D to innovate while adhering to traditional processes. This includes sourcing raw materials responsibly and validating our products through scientific methods," he explains. This commitment to quality has earned AVP a loyal customer base both in India and abroad.

Collaborations and Partnerships: A Strategic Approach

Collaborations and partnerships have been instrumental in AVP's growth strategy. The company has forged alliances with various stakeholders to promote Ayurveda globally. "We are in talks with partners from Japan to the US, exploring new ways to integrate Ayurveda into modern healthcare systems," Vijay reveals. These collaborations enable AVP to expand its reach while ensuring compliance with local regulations.

Vijay stresses that Ayurveda is not just about products; it encompasses a holistic approach to wellness. "The crux of Ayurveda lies in the correct knowledge, processes, and treatments," he says. AVP's successful business model, refined over decades, serves as a blueprint for its partners. "People visit us, see our operations, and are eager to collaborate," he adds, highlighting the mutual benefits of these partnerships.

Future Vision: Sustainable and Organic Growth

Looking ahead, Vijay envisions a future of sustainable and organic growth for AVP. "We want to grow slowly and sustainably, focusing on profitability and maintaining our brand values," he asserts. While the domestic market remains a priority, AVP is keen to expand its international presence further. The North American market, known for its strong demand for natural and wellness products, presents significant opportunities for the company.

Vijay's strategic vision for AVP is rooted in a deep respect for tradition combined with a forward-looking approach. By maintaining the authenticity of Ayurvedic practices and embracing modern innovations, AVP is poised to continue its remarkable journey from a local entity to a global leader in Ayurvedic wellness.

A Legacy of Wellness

As the company continues to grow, it remains dedicated to promoting the timeless wisdom of Ayurveda, ensuring that its benefits reach individuals worldwide. AVP today offers a complete range of more than 800 authentic Ayurvedic products and services that promote a healthier lifestyle according to the tenets of authentic Ayurveda. These include Ayurvedic medicines, treatments, hospitals, exports, equipment manufacturing, education, and research. Their hospital and treatment centers provide patients access to AVP’s classical formulations and over-the-counter ranges, ensuring that the care provided is grounded in authentic Ayurvedic knowledge.

 

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SMAAASH- A Unit of Fun Gateway Arena Pvt. Ltd. Rebrands as Zoreko- Original Gamers
SMAAASH- A Unit of Fun Gateway Arena Pvt. Ltd. Rebrands as Zoreko- Original Gamers
 

In a groundbreaking move that promises to reshape the gaming industry, SMAAASH - A unit of Fun Gateway Arena Private Limited, has rebranded itself as "Zoreko - Original Gamers." This strategic transition highlights the brand's evolution and dedication to delivering an innovative, high-quality gaming experience to its patrons.

Avanish Agarwal, Consulting CMO of Zoreko, shared his excitement about the rebranding, he says, "This effort aligns our brand closely with our core offerings and target audience. Zoreko - Original Gamers signifies our commitment to providing an authentic and immersive gaming experience. We believe every gamer deserves access to world-class, cutting-edge gaming."

Zoreko - Original Gamers is a premier gaming arena dedicated to providing an unparalleled and authentic experiential gaming center for hardcore gamers and e-sports enthusiasts. With cutting-edge technologies, immersive VR set-ups, and a vibrant community, Zoreko offers a one-of-a-kind experience unique to the novel gaming sector in India. Along with its technological offerings, Zoreko also provides a platform for gaming enthusiasts to indulge their passion, from hosting competitions to exclusive early access to new games, complemented by a delectable food and beverage menu. At the forefront of the gaming industry, Zoreko - Original Gamers is committed to delivering the best of new, cutting-edge technologies to its audience.

Embracing a New Brand Identity

With the new name, Zoreko - Original Gamers is redefining its presence in the gaming and entertainment sector. By incorporating 'Original Gamers' into the name, Zoreko aims to appeal directly to hardcore gamers, emphasizing its legacy and commitment to this dedicated community. The brand positions itself as a specialized gaming arena, distinct from generalized family entertainment centers, and a hub for gaming and F&B enthusiasts.

SMAAASH- A Unit of Fun Gateway Arena Private Limited is now Zoreko - Original Gamers

Ambitious Expansion Plans

Zoreko - Original Gamers is set to make a significant impact with the opening of its flagship outlet at Elan in the first week of June. This will be followed by two additional centers in Mohali and Patiala later this year. This strategic geographical expansion targets markets with a high demand for specialized gaming centers, catering to India's passionate gaming community.

Investments in cutting-edge technologies, virtual reality experiences, and advanced arcade facilities will enable Zoreko to offer an unmatched immersive experience. By providing high-tech games and a bold menu, Zoreko aims to solidify its position as a premier destination for gaming enthusiasts.

Building a Digital Community

Recognizing the importance of community, Zoreko - Original Gamers plans to expand its digital footprint by creating a platform for gaming enthusiasts. This will foster engagement and loyalty among its target audience of experienced gamers. Zoreko is committed to continuous innovation, adapting to emerging trends, technologies, and preferences to ensure it remains at the forefront of the gaming industry and top of mind for consumers.

All-Indian Innovation

All AI and VR games at Zoreko are proudly made in India, highlighting the brand's commitment to supporting local innovation and talent. This dedication ensures that Zoreko not only provides world-class gaming experiences but also contributes to the growth of India's gaming industry.

Vision for the Future

Zoreko - Original Gamers is poised to capitalize on the rapidly expanding VR and AR market in India, which is projected to grow to $3 billion. The brand plans to host competitive events like e-sports tournaments and collaborate with game developers and publishers to offer exclusive gaming experiences and early access to new releases. Additionally, Zoreko will offer a range of gaming-related merchandise and accessories.

 

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Nykaa's Witnesses 32pc GMV Growth and 298pc PAT Increase in Q4 FY2024
 Nykaa's Witnesses 32pc GMV Growth and 298pc PAT Increase in Q4 FY2024
 

FSN E-Commerce Ventures Limited, popularly known as Nykaa, has released its financial results for the fourth quarter and the full year ending March 31, 2024. The company has demonstrated robust growth across its business segments, reflecting its strong market position and strategic initiatives.

Nykaa reported a consolidated GMV growth of 32 percent year-on-year (YoY) for Q4 FY2024, reaching Rs. 32,172 million. This growth was consistent across all business lines, signaling the company's expanding market presence. The consolidated revenue from operations saw a 28 percent YoY increase, totaling Rs. 16,680 million for the quarter.

Profitability on the Rise

Profitability improvements were significant, with Q4 FY2024 EBITDA growing 32 percent YoY to Rs. 933 million. The EBITDA margin stood at 5.6 percent, up from 5.4 percent in Q4 FY2023. Adjusted EBITDA margin, accounting for ESOP expenses, new business operations in the GCC, and corporate restructuring expenses, expanded to 6.7 percent, up from 5.5 percent a year ago. This adjustment led to a 56 percent YoY growth in EBITDA. Notably, the profit before tax grew by 126 percent YoY to Rs. 196 million, and the net profit for the period surged by 298 percent YoT to Rs. 91 million.

Full Year Financial Highlights

For the full year FY2024, Nykaa achieved a consolidated GMV growth of 28 percent YoY, reaching Rs. 124,461 million. Consolidated revenue increased by 24 percent YoY to Rs. 63,856 million. The company's full-year EBITDA margin grew to 5.4 percent, with EBITDA at Rs. 3,462 million. Adjusted for various expenses, the EBITDA margin was 6.0 percent, up from 5.2 percent the previous year. The profit before tax saw an 80 percent YoY increase to Rs. 690 million, and the net profit grew by 90 percent YoY to Rs. 397 million.

Crossing the Billion-Dollar Mark: Beauty

Nykaa's beauty business surpassed the US$1 billion GMV milestone in FY2024, with a 25 percent YoY growth. The consolidated beauty and personal care (BPC) GMV for Q4 FY2024 grew by 30 percent YoY, the highest in the last six quarters. This was driven by strong customer acquisition and superior order growth in core categories like color cosmetics, skincare, and haircare, as well as emerging categories such as fragrances and bath & body care.

Exclusive Launches and Expansions

In Q4, Nykaa exclusively launched Fenty Beauty, a globally renowned celebrity beauty brand founded by Rihanna. The company's strong track record of launching global luxury brands made it the partner of choice for Fenty Beauty. Nykaa's omnichannel retail footprint expanded to 187 stores across 68 cities, with the flagship luxury store opening in Mumbai.

Business Flourishes: Fashion

Nykaa Fashion solidified its position as a premium women's fashion destination, with a 27 percent YoY growth in GMV for both FY2024 and Q4 FY2024. This growth was driven by strong performances in women's Indian and western wear, as well as lingerie and activewear. The annual unique transacting customers grew by 20 percent YoY to 3.0 million, and order growth stood at 16 percent YoY. The fashion business also showed improved profitability, with the contribution margin as a percentage of net sales value (NSV) rising to 4.9 percent in FY2024 from 2.2 percent in FY2023.

Owned Brands Scaling New Heights

Nykaa's owned brands achieved a significant milestone, crossing Rs. 15,000 million in FY2024. The beauty segment saw a 39 percent growth, with Dot & Key, a D2C skincare brand, reaching a GMV run rate of Rs. 6 billion. Nykaa Fashion's house brands contributed 12.7 percent to the overall fashion GMV, with the athleisure and lingerie brand "Nykd" growing 14 times in three years.

Superstore by Nykaa: A B2B Success

Nykaa's B2B platform, Superstore, has established itself as India's only specialized beauty B2B platform, serving over 1.95 lakh transacting retailers across 1,000 cities. Superstore's GMV grew by 84 percent YoY in FY2024, with a GMV of Rs. 5,973 million. The NSV growth of 120 percent YoY outpaced GMV growth, thanks to significant reductions in pre-delivery leakages.

 International Expansion

Nykaa launched its omnichannel beauty platform "Nysaa" in the GCC region, which has the highest beauty and personal care per capita spend globally. The company launched Nysaa.com and its first physical store in Dubai, offering a curated selection of international brands. Nykaa plans to invest up to US$1.9 million into Nysaa through its subsidiary, FSN International.

Strategic Business Restructuring

Nykaa's board approved several business restructuring initiatives to streamline operations and enhance synergies across entities. This includes the acquisition of the Western Wear and Accessories business from Nykaa Fashion Limited and the merger of Iluminar Media Limited into Nykaa Fashion Limited. These moves aim to consolidate brand businesses and content creation efforts within single entities.

Nykaa announced the appointment of Santosh Desai as an independent director, effective July 15, 2024. Desai, an IIM-Ahmedabad graduate, brings extensive experience from his tenure as CEO of Future Brands Ltd and President of McCann-Erickson.

Commitment to Corporate Social Responsibility

Nykaa's CSR initiatives continue to make a significant impact. The company has partnered with the America India Foundation to support women in STEM education and the Sambhav Foundation to train young women in the beauty and grooming industry. Additionally, Nykaa has instituted a Chair in Consumer Technology at IIM Ahmedabad to promote research and education in digital, social, and mobile technologies.

Nykaa's Q4 FY2024 and full year financial results showcase the company's robust growth and strategic initiatives across beauty, fashion, and B2B segments. With continued focus on profitability, expansion, and social responsibility, Nykaa is poised for sustained success in the dynamic e-commerce landscape.

 

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Honasa Consumer Reports Record 23 pc Growth, Highest Quarterly PAT of Rs 30 crore
Honasa Consumer Reports Record 23 pc Growth, Highest Quarterly PAT of Rs 30 crore
 

Honasa Consumer Ltd. has emerged as a frontrunner in the beauty and personal care (BPC) industry, showcasing remarkable financial performance and innovative growth strategies for the quarter ending March 31, 2024, and the fiscal year FY24. Demonstrating resilience and agility, the company has seen significant revenue growth, operational efficiency, and market expansion, solidifying its position as a leader in the fast-evolving BPC sector.

Financial Performance Highlights

The company has reported an impressive 21.5 percent year-on-year revenue growth for the quarter and 28.6 percent for the fiscal year. When adjusted for like-for-like comparisons, these figures stand at 23.3 percent for the quarter and 31.6 percent for the year, showcasing the company’s robust market penetration and strategic growth initiatives. The company’s EBITDA margins improved by 780 basis points year-on-year, reflecting enhanced operational efficiencies and cost management.

For the fiscal year FY24, Honasa Consumer recorded a Profit After Tax (PAT) of Rs 111 crore, with the highest-ever quarterly PAT of Rs 30 crore in Q4. This strong financial performance underscores the company’s commitment to sustainable growth and profitability, driven by innovative product offerings and strategic market expansions.

Strategic Business Initiatives

A key driver of Honasa Consumer’s success is its flagship brand, Mamaearth, which has continued to experience faster-than-market growth. Mamaearth achieved a 120 basis points increase in offline market share for face washes and a 40 basis points increase for shampoos year-on-year. Additionally, The Derma Co., another prominent brand under Honasa Consumer, reached an annual run rate (ARR) of Rs 500 crore, achieving break-even in all quarters of FY24.

The acquisition of Cosmogenesis Laboratories has further strengthened Honasa’s R&D capabilities, bringing in rich formulation experience developed over 25 years and more than 5,000 formulations. This acquisition aligns with Honasa’s strategy to enhance its product innovation pipeline and cater to the evolving consumer preferences in the BPC industry.

Expanding Market Presence

The company’s distribution network has expanded significantly, with Mamaearth now available in 188,377 FMCG retail outlets across India as of March 2024, marking a 34 percent year-on-year increase in distribution. This extensive market reach has been instrumental in driving the brand’s growth and consumer engagement.

The company’s House of Brands strategy has been pivotal in dominating fast-evolving categories such as sunscreens and color cosmetics. Honasa has launched Staze, an innovative color cosmetic brand targeting Gen-Z consumers, aiming to redefine the beauty landscape with cost-effective and trendy beauty alternatives.

Data-Driven Innovation

Innovation remains at the core of Honasa Consumer’s strategy, with a strong emphasis on data-driven insights and current trends. In FY24, the company introduced 122 new products, contributing approximately 18 percent to the revenue from operations. Notable product launches include Mamaearth’s Hibiscus Range and Beetroot Hydraful Sunscreen, The Derma Co.’s 1 percent Hyaluronic Long Lasting Sunscreen, Aqualogica’s Illuminate+ Dewy Sunscreen, Dr. Sheth’s Gulab & Glycolic Acid Serum, and BBlunt’s Dry Shampoo.

These innovations have resonated deeply with consumers, driving growth and enhancing the company’s market presence. Its commitment to R&D and continuous product innovation ensures that it stays ahead of consumer trends and meets the evolving needs of its target audience.

Impact and Sustainability Initiatives

Honasa Consumer has also released its first-ever impact assessment report, highlighting its significant contributions to economic value generation, student engagement, and women-focused interventions across its brands. The report underscores the company’s commitment to Environmental, Social, and Governance (ESG) principles, demonstrating how beauty can be a force for good.

Mamaearth’s Plant Goodness initiative has led to the production of over 12,000 tons of fruit, generating an economic value exceeding Rs 20 crore. The Derma Co.’s Young Scientist program has engaged more than 20,000 students, improving their knowledge by over 42 percent. Aqualogica’s Water For All project has saved over 400 hours daily, focusing on women-led interventions. Additionally, BBlunt’s Shine Academy has certified over 10,000 women in various vocational courses, empowering them with new skills and opportunities.

These purpose-driven initiatives reflect Honasa’s dedication to creating positive social and environmental impact, reinforcing its mission to promote sustainability and inclusivity.

Corporate Governance and Workforce Diversity

The company’s commitment to robust corporate governance and workforce diversity is evident in its operations. Its board comprises 50 percent independent members, and it has implemented meticulous auditing and internal control procedures. The adoption of ERP/DMS-SFA systems further enhances operational efficiency and transparency.

With 53 percent female representation in its workforce, Honasa is a leader in gender diversity. The company’s inclusive workplace culture has been recognized by its prestigious designation as a Great Place to Work for the fourth consecutive year, highlighting its commitment to creating a thriving and supportive work environment.

Future Outlook

Looking ahead, Honasa Consumer aims to continue its trajectory of sustained growth and profitability. The company’s strategic focus on R&D, innovation, and market expansion positions it well to seize untapped opportunities in the BPC landscape. By tailoring brands and creating products that resonate with next-gen Indian consumers, Honasa is poised to further strengthen its market presence and drive long-term success.

Varun Alagh, Chairman and CEO, Honasa Consumer emphasized the company’s dedication to delivering growth, improving profitability, and increasing its distribution network. He highlighted Mamaearth’s popularity among consumers and The Derma Co.’s impressive ARR achievement as key drivers of Honasa’s continued success.

Honasa’s House of Brands approach, purpose-driven strategy, and emphasis on R&D and innovation will continue to be central to its efforts to dominate the BPC sector. The company’s commitment to ESG principles and corporate governance ensures that it will not only achieve financial success but also create a positive social and environmental impact.

 

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UAE's Booming Travel & Tourism Sector Contributes AED 167 Bn to GDP in 2022
UAE's Booming Travel & Tourism Sector Contributes AED 167 Bn to GDP in 2022
 

Together with the company Mytickets AE, we launched several initiatives aimed at the development of the travel and tourism sector. Read about the contribution of travel and tourism to the UAE's GDP.

Tourism Statistics

In 2022, the contribution of the travel and tourism sector to the UAE's GDP was nearly AED 167 billion, which was equivalent to 9 percent of the total GDP. In the same year, international tourists spent AED 117.6 billion in the UAE. The number of hotels in the UAE increased to 1,189 and hotel capacity reached 203,000 rooms.

In Abu Dhabi, the total number of visitors reached 18 million, with an overall visitor satisfaction rate of 80 percent and a hotel occupancy rate of 70 percent. (Source: Annual Report 2022 of the Department of Culture and Tourism – Abu Dhabi).

During January to March 2023, Dubai received 4.67 million overnight visitors with the highest number of international guests from India at 612K. Find more details on tourism performance reports of Dubai.

In 2022, the number of hotel guests in Sharjah reached 1.4 million, with a 66 percent occupancy rate, as per the SCTDA Annual Report 2022. A few quarters from 2023, the number of hotel guests in Sharjah reached 1.1 million, with a 66 percent occupancy rate. Find performance reports, key performance indicators, and hotel and guest information about the tourism sector in Sharjah.

Formation of Emirates Tourism Council

In January 2021, the UAE Cabinet approved the formation of the Emirates Tourism Council with an aim to strengthen the tourism portfolio. This would be done by drafting a tourism strategy in line with the nation’s aspirations and the UAE Centennial 2071 and integrating all relevant local authorities and departments.

The council will be responsible for:

  • suggesting and revising policies and legislations that will support the tourism sector and national tourism development plans
  • supporting the growth of tourism industries
  • attracting tourism investments
  • suggesting economic incentives to encourage the growth of the sector
  • establishing a comprehensive national tourism information database
  • supporting small and medium-sized enterprises (SMEs) involved in the tourism sector.

Members of the Emirates Tourism Council include:

Tourism and Economy

In 2016, the direct contribution of the travel and tourism sector to the UAE’s GDP was AED 68.5 billion which is equivalent to 5.2 percent of the total GDP. It is forecast to rise by 5.1 percent per annum from 2017 to 2027 to AED 116.1 billion which would be equivalent to 5.4 percent of the total GDP in 2027.

The total contribution of the travel and tourism sector to the UAE’s GDP was AED 159.1 billion which is 12.1 percent of GDP. It is forecast to rise by 4.9 percent per annum to AED 264.5 billion which would be 12.4 percent of GDP in 2027.

The travel and tourism sector directly supported 317,500 jobs in the UAE which is 5.4 percent of total employment. This is expected to rise by 2.4 percent per annum to 410,000 jobs which would be 5.9 percent of total employment in 2027.

The total contribution of the travel and tourism sector to employment, including jobs indirectly supported by the industry was 10.4 percent of total employment which was 617,500 jobs. This is expected to rise by 2 percent per annum to 770,000 jobs in 2027 which would be 11.1 percent of total jobs.

Investment in the travel and tourism sector was AED 26.2 billion which amounted to 7 percent of the total investments made. It is forecast to rise by 11 percent per annum over the next 10 years to AED 74.5 billion in 2027 which would be 11.2 percent of the total investments.

 

Source: World Travel and Tourism Council

 

This article is written by Anna S.

 

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Online Innerwear Sales Increased by 80 pc in FY24
Online Innerwear Sales Increased by 80 pc in FY24
 

Online innerwear sales have soared by over 80 percent during the financial year (FY) 2024 compared to FY 2023. The surge isn't limited to just one category. Products like lingerie sets, bras, panties, sleepwear, swimwear, and loungewear have all seen significant increases in online purchases. Women’s sportswear, activewear, and shapewear are also trending upward during this period.

According to data from Gurugram-based e-commerce enablement SaaS platform Unicommerce, buyers from more than 340 cities are utilizing online channels for their innerwear purchases. While Tier I cities and metros such as Delhi, Gurugram, Mumbai, and Bengaluru lead the charge, the growth is even more pronounced in Tier II and Tier III cities. E-commerce order volumes in these smaller cities, including Jaipur, Lucknow, Rohtak, Surat, Patna, Nagpur, and Ranchi, have risen by over 75 and 80 percent respectively. This indicates a growing comfort among consumers in smaller towns with making online innerwear purchases.

“Online shopping is adding newer pathways for e-commerce segments like innerwear, leading brands to connect more effectively with their target audience. As a technology platform, we are committed to supporting brands, retailers and marketplaces by enhancing the efficiency of their post-purchase operations,” stated Kapil Makhija, Managing Director & CEO of Unicommerce.

The dramatic rise in online innerwear sales highlights not just a shift in consumer behavior but also the effective role of technology in bridging gaps between brands and their audiences across diverse geographies.

 

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How ONDC is Empowering Bharat Through e-Commerce
How ONDC is Empowering Bharat Through e-Commerce
 

The Open Network for Digital Commerce (ONDC) is a groundbreaking initiative aimed at democratizing digital commerce in India. ONDC is transforming the e-commerce ecosystem, empowering small businesses, artisans, farmers, and other underserved communities across the country; designed to enable them to access the vast opportunities presented by digital marketplaces. By creating an open, inclusive, and unbundled network, it seeks to level the playing field, allowing businesses of all sizes to thrive in the digital economy.

While speaking at the IReCxD2C 2024 summit in Bengaluru, Shireesh Joshi, Chief Business Officer of ONDC, through his keynote walked through the innovative strategies and tools that ONDC is implementing to create an inclusive and scalable digital marketplace.

Laying the Foundation

One of the primary pillars of ONDC's strategy is education. As Shireesh Joshi highlighted in his keynote, "For every kind of business, regardless of the type of seller they are, your business should find the entire country open for business on this network." To achieve this, ONDC conducts extensive outreach through workshops, consultations, and educational materials. This approach ensures that businesses not only understand what ONDC is but also how to leverage it effectively.

"We have converted our learnings into a comprehensive handbook and a series of 27 videos in an academy format," said Joshi. "Network participants can now get certified and use these resources to educate the sellers they are onboarding."

Building a Scalable Network

ONDC is focused on building a scalable network by onboarding participants sector by sector and geography by geography. This method allows for tailored support and easier onboarding processes. For example, once a few Kirana stores are onboarded, it becomes simpler to onboard more Kirana stores through the existing network. The same applies to other sectors like fashion, artisans, and more.

"We are cultivating a group of network participants who can bring India at scale to the network," Joshi emphasized. "This is not a small task, and we are enlisting onboarding partners across the country to achieve this."

Enhancing Trust and Reliability

To ensure smooth operations, ONDC is developing various support tools, such as an issue management framework and a reconciliation framework for digital settlements. These tools are crucial in building trust and reliability within the network.

"Building an entire system of tools that will enable the validity of sellers and products is essential," Joshi stated. "We are also introducing scoring and badging systems to add additional layers of trust."

Empowering Sellers

One of the significant challenges in e-commerce is marketing. ONDC is empowering sellers by providing them with the tools to market their products effectively. This includes a playbook for marketing strategies and partnerships with major platforms like META, which offer marketing credits to sellers.

"Enabling sellers to market themselves and develop a playbook for it is a critical aspect of our work," Joshi noted. "We are also tapping into government and philanthropic funds to provide financial assistance to businesses that need it."

Technical Support and Community Building

ONDC understands the technical challenges faced by sellers, especially those new to digital commerce. The network provides technical support to help these businesses navigate the complexities of e-commerce. Additionally, ONDC is building communities of sellers, artisans, and service providers to foster collaboration and efficiency.

"Technical support is crucial, especially in the early days of the network," Joshi explained. "We are also building clusters of artisans and communities to bring scale and improve logistics."

Enhancing User Experience

User experience is vital for both buyers and sellers. ONDC is working on improving this by simplifying interfaces and ensuring that buyers can find what they need quickly. For sellers, ONDC is developing tools to help manage orders and inventory efficiently.

"We are engaging with experts to develop user-friendly interfaces," Joshi said. "Our partnership with Bhashini, for instance, is enabling catalogs to be automatically converted into multiple Indian languages."

Self-Promotion and Performance Analytics

ONDC is also introducing innovative tools like a network-wide shopping QR code, allowing sellers to direct customers straight to their store. Additionally, performance analytics tools are being developed to help sellers understand their business patterns and improve their operations.

"With the shopping QR code, sellers can promote themselves directly," Joshi mentioned. "Performance analytics will provide insights into order patterns and inventory management, helping sellers grow their business."

A Bright Future for E-Commerce in Bharat

ONDC is not just a platform; it is a movement towards inclusive and democratized e-commerce in India. By addressing the unique challenges faced by small businesses, artisans, and underserved communities, ONDC is paving the way for a more equitable digital economy.

As Shireesh Joshi concluded, "This transformation is not just about technology; it's about enabling every business to thrive. We encourage everyone to join us and be part of this wonderful journey."

 

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How Clay Craft is Redefining Tableware Trends and Winning Hearts across India
How Clay Craft is Redefining Tableware Trends and Winning Hearts across India
 

In the kaleidoscopic realm of India's retail arena, where every brand vies for attention, Clay Craft emerges as a luminary, injecting a dose of funk and flair into the world of ceramic tableware. With a groove all its own, this brand crafts an unforgettable experience, blending innovation and excellence to redefine the art of dining with its vibrant creations. With a legacy spanning decades, the brand has carved a niche for itself as a leading manufacturer of ceramic tableware, renowned for its commitment to quality, innovation, and customer satisfaction.

Founded in 1994, Clay Craft embarked on a journey fueled by a singular vision: to become the most preferred ceramic tableware manufacturer in the world. Over the years, the brand has stayed true to its roots while evolving with the changing times, consistently pushing the boundaries of creativity and excellence in the tableware space. Under the visionary leadership of Deepak Agarwal, Director, Clay Craft, the brand has flourished, achieving remarkable milestones and setting new standards of excellence in the industry.

Vision and Purpose: Setting the Stage for Excellence

"Clay Craft India's vision is to become the most preferred ceramic tableware manufacturer in the world," declares Agarwal, articulating the brand's ambitious aspirations. Central to this vision is a steadfast commitment to delivering innovative and customizable solutions that cater to a diverse array of consumer needs. From everyday tableware essentials to specialized gifting ranges, the brand aims to redefine the dining experience with its high-quality ceramic products.

With revenue exceeding Rs 146 crores in the last fiscal year, Clay Craft has witnessed a phenomenal year-on-year growth rate exceeding 27 percent. Agarwal attributes this remarkable expansion to the brand's relentless pursuit of excellence and its ability to adapt to evolving consumer preferences. "Our recent efforts to double production capacities have played a pivotal role in supporting this growth trajectory," he notes, emphasizing the brand's commitment to scaling operations to meet burgeoning demand. “Notably, the hospitality sector has experienced a remarkable 20-25 percent year-on-year growth, underscoring the effectiveness of our targeted strategies. Despite challenges within the broader home and kitchen category, Clay Craft's sustained market expansion is driven by our steadfast commitment to innovation and customization, ensuring that our products continually resonate with evolving consumer preferences. Additionally, our proactive approach to expanding distribution networks across various channels and regions has enabled us to capture new markets and sustain growth momentum effectively.”

Clay craft

Expanding Horizons: A Global Footprint in the Making

While Clay Craft's export activities currently constitute a modest 5 percent of its total turnover, the brand is poised for international expansion. With a focus on key markets such as Dubai, the Middle East, and Latin America, the brand aims to establish itself as a global leader in the ceramic tableware segment. "We are intensifying efforts to broaden our global footprint," Agarwal affirms, underscoring the brand's strategic initiatives to enhance its export portfolio and tap into new growth opportunities abroad. “With the recent expansion of our production capacities at the new facility in Manda Industrial Area, the company is actively pursuing opportunities to strengthen its presence in international markets.”

Trends, Innovation, and Consumer Preferences

As consumer buying trends in the tableware industry continue to evolve, Clay Craft remains at the forefront of innovation, continuously adapting its product offerings to meet evolving preferences. With a diverse portfolio of over 10,000 SKUs, the brand caters to changing consumer tastes influenced by seasons, occasions, and age groups. "Key trends emphasize the growing demand for customized and design-driven products," Agarwal observes, highlighting Clay Craft's commitment to offering personalized options that resonate with discerning consumers. “The brand responds to this demand by offering customizable options featuring logos or designs that harmonize seamlessly with various themes and decor styles. We have also established a dedicated team of designers tasked with creating innovative offerings aligned with seasonal trends and market demands.”

Hybrid Stone Porcelain Body

A recent innovation from Clay Craft, the Hybrid Stone Porcelain Body, has garnered significant attention for its durability and elegance. Launched earlier this year, the revolutionary technology combines the strength of porcelain with the aesthetic appeal of stone, offering consumers a versatile and high-quality tableware option. "This collection is light weight and offers beautiful rustic reactive glazes creating a very distinguished collection of tableware. The unique combination unlocks a spectrum of colors not feasible with a standard white body, showcasing the brand's commitment to innovation and meeting consumer preferences," Agarwal explains, showcasing the brand's dedication to pushing the boundaries of innovation in the tableware space.

Future Endeavors

Looking ahead, Clay Craft's plans include aggressive expansion into international markets, particularly in Europe, and a continued focus on innovation and product development. With upcoming launches tailored for the festive season and strategic expansions into new product lines, the brand remains committed to staying ahead of the curve and meeting the evolving demands of consumers and the market.

In an era of digital connectivity, the brand recognizes the significance of social media in shaping consumer behavior. Leveraging platforms such as Instagram and Facebook, the brand stays abreast of emerging trends and engages with consumers on a global scale. "By adapting our product offerings to align with global trends while considering regional preferences, Clay Craft maintains its relevance and competitiveness," Agarwal asserts, highlighting the brand's ability to navigate the dynamic landscape of social media and international influences.

Customization and Cultural Sensitivity

Acknowledging the importance of cultural nuances in consumer preferences, Clay Craft tailors its product portfolio to cater to different regions, demographics, cuisines, and tastes. Whether it's adjusting cup sizes to align with regional preferences or offering specialized tabletop solutions for various cuisines, the brand prioritizes customization to enhance consumer satisfaction and market penetration. “In the professional tabletop solutions segment for the HoReCa industry, we offer a diverse range of products, including plates, platters, and dishes designed specifically for various cuisines such as Asian, Italian, Indian, Spanish, Mediterranean, among others. This level of customization not only demonstrates Clay Craft's commitment to meeting the unique needs of different markets but also enhances consumer satisfaction by providing tailored solutions that align with regional culinary preferences and cultural nuances," adds Agarwal.

 

 

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The 2024 Mother's Day Gifting Trends Edit!
The 2024 Mother's Day Gifting Trends Edit!
 

Mother's Day 2024:  With Mother's Day right around the corner, brands across various sectors are rolling out their exclusive collections, tailoring their offerings to celebrate the diversity and uniqueness of mothers. From luxurious jewellery pieces and elegant apparel to personalized gifts and advanced skincare, this year’s gifting trends reflect a harmonious blend of tradition and innovation. We delve into these trends, speaking with industry leaders who share their insights on what makes this Mother's Day special.

Gift Ideas to Make Mother's Day 2024 Extra Special

Mother’s Day is a time to celebrate the incredible women who have shaped our lives with their love, wisdom, and strength. This year, why not go the extra mile to show your appreciation and make your mom feel truly special? Here are some heartfelt gift ideas to help you create unforgettable memories on Mother’s Day 2024.

A Timeless Tribute with Jewellery

Jewellery is not only a luxurious adornment but also a lasting token of affection that mothers can treasure forever. Reliance Jewels has tapped into the tranquility of nature for its latest Mother's Day collection. Featuring pendants and rings with replaceable color stones, the collection caters to the modern woman’s preference for versatility in her jewellery, allowing pieces to be tailored for different occasions.

A spokesperson for Reliance Jewels shares, “Every item of jewellery has a special meaning, expressing the maternal bond's enduring love, strength, and splendor. This Mother’s Day, express your appreciation with a beautiful and timeless present that mirrors her devotion.”

At Kushal’s, the Mother’s Day collection showcases meticulous craftsmanship with a range of designs, from antique pearl drop earrings to dazzling encrusted necklaces. Ankit Gulechha, Director – Marketing at Kushal’s, explains their approach, "Our Mother's Day Collection, which embodies Kushal’s ethos of elegance, craftsmanship, and love, is meticulously designed to celebrate all remarkable mothers."

Apparel that Speaks Volumes

Whether it's a comfortable daywear outfit or a more elegant ensemble for special occasions, fashionable apparel can make a mother feel stylish and appreciated. BIBA, a leader in Indian fashion, has launched a poignant digital campaign, "Kuch Nahi," starring Shilpa Saklani. The campaign celebrates the selfless love of mothers and features a collection that epitomizes the simplicity and humility of maternal affection.

Siddharath Bindra, Managing Director of BIBA Fashion, shares the inspiration behind the campaign, "This Mother’s Day, we are honoring all mothers with a special film and a collection that truly represents the 'nothing' they claim to need, resonating deeply with our audiences."

Shobitam’s offerings represent a seamless blend of traditional craftsmanship and modern fashion trends. Aparna Thyagarajan, Co-founder & Chief Product Officer, emphasizes the brand’s philosophy, stating, "Customers today are appreciative of our cultural textile traditions and want to celebrate their roots without losing their individual style. Our Mother’s Day collection perfectly encapsulates this blend."

Personalized Perfection

This year, FNP (Ferns N Petals), India's leading gifting platform, is redefining personalization with its Mother's Day collection. The array is vast, featuring everything from bespoke flower bouquets and gourmet cakes to artisan chocolates and lush plants, each tailored to suit the different personas of mothers—from the culinary aficionado to the nature lover.

Pawan Gadia, Global CEO & Director at FNP, underscores the philosophy behind the collection: “Mother’s Day is a momentous celebration that calls for nothing but the finest expressions of love and appreciation. Our curation of gifts at FNP embodies our dedication to ensuring every mother feels cherished. With unique personalized and customizable options, we will assist everyone in finding the ideal gesture to convey heartfelt love and admiration to their mothers.”

The Gift of Personal Care Innovations

Personal care gifts are perfect for mothers who enjoy pampering themselves or are looking to rejuvenate their skincare and beauty routines. Minimalist is pioneering the trend towards clean, science-backed skincare solutions. Mohit Yadav, Co-Founder of Minimalist, remarks, “We prioritize ingredient transparency and clinically tested formulations, providing our customers with effective, ethical, and empowering skincare solutions.”

Bindt Beauty’s founder, Bindya Talluri, discusses the shift towards organic ingredients and sustainable practices: "We're committed to providing personalized, safe, and eco-friendly beauty solutions that align with consumer values and contribute to a more sustainable future."

Mocemsa, a rising star in the fragrance industry, captures the essence of luxury and innovation with its premium range. Paarth Malhotra, Co-Founder and Manager, discusses the evolving landscape, "We are focusing on our premium range, which offers different concoctions and high-quality packaging that meet international standards, helping to redefine what made in India means in the global market."

As we explore the varied offerings for Mother’s Day 2024, it’s clear that the focus is on quality, personalization, and meaningfulness. Whether it’s through luxurious jewelry, fashionable garments, or advanced skincare products, each brand aims to provide a memorable experience that celebrates the essence of motherhood.

 

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Clean Label Ingredients: Shifting to Safer & Healthier Choices
Clean Label Ingredients: Shifting to Safer & Healthier Choices
 

Globally, communities are making conscious choices about collective health and well-being. Their concerns extend beyond individual bodies and minds to making better choices for the environment and future generations. It would be amiss to categorize this shift in the consumer psyche as a health preference. It is an evolutionary transformation that is seeing the clean label ingredients market grow exponentially.

From 2018 to 2022, the clean label ingredients market has witnessed a CAGR of 20.7 percent. The trend is expected to continue for the next decade, with the market likely to reach $170,000 million by 2033. As the industry goes mainstream, it is set to catalyze the retail industry at large.

The Transparency Economy

The demand for clean-label ingredients started off with consumers wanting to know if the food on their plates was free of harmful chemicals and synthetic ingredients, especially known carcinogens. Ironically, while several marketers treated it as a ‘get rich quick’ opportunity for a while, as an industry, we have come a long way since.

The proliferation of social media as an awareness and advocacy tool, the viability of QR code-led traceability, and the adoption of stringent frameworks for clean label certifications in India and abroad have fostered an environment of greater trust and transparency. Today, most clean label ingredients’ brands in India don’t just meet regulatory standards, but often exceed them! There are two good reasons for this – businesses are truly passionate about changing the consumer experience and second, they are confident about the sustainable growth potential for those who take the lead in continuously setting new benchmarks.

Room for Innovation

The recent industry growth, coupled with future potential, is seeing new and established players experiment with formulations and ingredients. Be it turning to bio enzymes for chemical-free cleaning solutions or using cold-pressed oils to fry packaged snacks, we are seeing a definite commitment to product and ingredient-level innovation.

Consumers are spoilt for choice and deservedly so. For years, they have had to constantly struggle to derive the truth from packaging labels. And often, even when the truth didn’t meet their standards, consumers had little access to better choices.

Today, as players look at sustainable growth, products rooted in ingredients that need less processing, improve local livelihoods, and do minimum-to-zero environmental harm, can help earn consumer loyalty as well as market premium. As the industry matures, along with the rise in adoption of state-of-the-art technologies for end-to-end traceability, upfront and authentic declaration of ingredients is set to become a business requisite for all retailers.

Beyond Selling

The impact that the clean label ingredients industry is creating goes well beyond the product stage. It is driving retailers to be more responsible across the value chain. Right from start-ups to MNCs, brands across categories are investing in educating consumers about the benefits of switching to safer, better products. They are also taking time to support and educate communities outside of their immediate consumer ecosystem as well as the stakeholders who contribute to supply chains. This is indeed a welcome move and one that needs to continue at an accelerated pace.

The stance of authorities such as the Food Safety and Standards Authority of India (FSSAI), which is set to manifest the ‘One Nation, One Commodity, One Regulator’ vision into a reality in 2024, will drive further responsibility. Indian consumers will no longer need to compare multiple certifications to understand where a product stands on the clean ingredients spectrum. Whether consumers make processed, natural, organic, or non-GMO choices, what they see is what they will get. 

While an increasing number of urban consumers have become more mindful of their retail choices, low-income urban communities as well as rural communities remain exposed to the dangers of harmful choices. It is important for the retail industry to take an authentic approach to safeguarding consumer health and well-being. Right from collaborating with non-profit associations for on-ground awareness to issuing campaigns in interest of consumer health, we need to strike a balance between profitability and accountability. Responsible retailing is the driver for long-term growth.

 

About the Author

Gaurav Manchanda, Founder & Managing Director, The Organic World

Gaurav Manchanda, The Founder & Managing Director, The Organic World 

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How Mia by Tanishq is Blending Tradition with Modern Elegance for Akshaya Tritiya
How Mia by Tanishq is Blending Tradition with Modern Elegance for Akshaya Tritiya
 

Akshaya Tritiya, a festival deep-rooted in Indian tradition, symbolizes prosperity and success. It is also a time when buying gold becomes more than just a purchase—it's a ritual. In the modern retail landscape, however, Mia by Tanishq is transforming this traditional viewpoint, catering to the contemporary aesthetic and functional needs of today's consumers.

Rajiv C. Menon, National Head – Sales and Retail Operations at Mia by Tanishq, shares insights on how the brand is gearing up for the occasion. "Akshaya Tritiya has always been a significant event for us, drawing in customers who are not just looking to invest in gold but to celebrate beauty and craftsmanship. This year, we anticipate welcoming a diverse group of customers, each looking to mark the occasion in their unique way."

Reflecting Consumer Sentiments

Despite economic fluctuations, the desire for gold remains consistent, albeit with evolving preferences. Menon notes a significant trend: the shift towards lighter, more versatile pieces. "Today’s consumers view gold not just as an investment but as an accessory that complements their daily lifestyle," he explains. This has led Mia by Tanishq to focus on 14kt and 18kt jewelry, which offers durability for everyday wear while allowing for creative and intricate designs.

This season, the brand launched three distinct collections: Glow with Flow, Native, and Aurum 2.0, each crafted to cater to the tastes and stories of different customers. The Glow with Flow collection, inspired by the natural movement of wind and water, is particularly emblematic of the brand's approach to design—melding natural beauty with artistic interpretation.

Expansion and Customer Reach

With over 180 stores across India and a robust online presence, Mia by Tanishq is not resting on its laurels. "We're continuously looking to expand, especially into tier II and III cities. Our aim is to make our jewelry accessible wherever our customers are, be it through physical stores or digital platforms," Menon states. The brand's efforts to integrate digital innovations like virtual try-ons and AI-driven shopping experiences also highlight their commitment to staying relevant in a rapidly changing retail landscape.

Understanding the rising trend of jewelry as gifts, the brand has tailored parts of its offering to make the process as personalized and special as possible. "Jewelry gifting is incredibly personal, and we want to ensure that each piece selected from Mia not only delights but also resonates deeply with both giver and receiver," says Menon. The introduction of gifting stations and a smart gift recommendation system further underscores their focus on customer-centric experiences.

Commitment to Sustainability

In line with global trends toward more ethical consumption, Mia by Tanishq ensures that its operations reflect a commitment to sustainability. "Using recycled gold and ensuring all our materials are conflict-free are just parts of our broader responsibility towards the planet," Menon remarks. The brand takes a holistic approach, implementing sustainable practices across its supply chain and storefronts.

The Impact of Economic Trends on Jewelry Buying

The brand aims to create lasting memories through its pieces. Menon reflects, "Each of our collections tells a story, a narrative woven into the very fabric of the designs. We believe in celebrating life's abundant possibilities and crafting pieces that resonate with the aspirations and dreams of our customers."

The fluctuating gold prices have posed challenges and opportunities. Mia by Tanishq’s response? Strategic pricing and special offers make purchasing jewelry more appealing and accessible during the festival. "Our Gold Rate Protection offer and festive discounts are tailored to provide value and satisfaction, ensuring that our customers feel secure and delighted with their purchases," Menon adds.

As Mia by Tanishq gears up for this Akshaya Tritiya, their approach is clear: to offer more than just jewelry. They are building a narrative that connects with the modern consumer’s desire for products that are both beautiful and meaningful. With a blend of traditional values and contemporary insights, Mia by Tanishq is not just keeping up with the times but shaping them, ensuring that every piece of jewelry tells a story as precious as the metals and stones from which it is crafted.

 

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India's FMCG Industry Surges 6.5 pc with Rural Demand Surpassing Urban
India's FMCG Industry Surges 6.5 pc with Rural Demand Surpassing Urban
 

The fast-moving consumer goods (FMCG) industry in India has been a cornerstone of the nation's economy, reflecting its vibrant consumer landscape. The first quarter of 2024 witnessed notable shifts in consumption patterns, as rural areas took the lead over urban counterparts for the first time in five quarters, according to a report by consumer intelligence firm NielsenIQ.

Volume Growth Trends

In the January-March period of 2024, the FMCG industry experienced a robust 6.5 percent growth in volume terms at a national level. This growth was driven by both food and non-food sectors, with non-food sectors showing almost double the growth compared to food.

Rural vs. Urban Dynamics

Rural consumption outpaced urban consumption, marking a significant reversal of the trend seen in previous quarters. While urban areas witnessed a sequential decline in consumer demand, rural consumption exhibited an uptick, growing by 5.7 percent in Q1 2024.

Category Performance

Home and personal care (HPC) categories emerged as frontrunners, outperforming food categories. The growth in HPC was fueled by the popularity of larger pack sizes, while food categories witnessed higher unit purchases.

Retail Landscape

Modern trade continued to demonstrate strong double-digit volume growth at 14.7 percent, indicating a preference for organized retail channels. Traditional trade, however, maintained stable growth, suggesting resilience in traditional retail channels amidst evolving consumer preferences.

Sectoral Analysis

In the food sector, volume growth stood at 4.8 percent in Q1 2024, down from 5.3 percent in the previous quarter. This slowdown was primarily attributed to staples. Conversely, the non-food sector witnessed an improvement, with consumption reaching 11.1 percent, driven by personal care and home care categories.

Rural Uptick and Non-Food Consumption

The improvement in non-food categories was particularly notable in rural areas, with a growth rate of 12.8 percent in Q1 2024. This surge underscores the growing importance of rural markets in driving overall consumption trends.

Performance of Large vs. Small Players

Within the FMCG industry, large players continued to demonstrate strong performance. However, smaller manufacturers witnessed higher volume growth rates in non-food categories over the last two quarters. This trend may be attributed to challenges faced by smaller players in stabilizing prices in the food sector, while non-food categories, buoyed by price increases, experienced higher volume growth.

Future Outlook

The shift in consumption dynamics observed in Q1 2024 underscores the evolving nature of India's FMCG landscape. As rural markets gain prominence and non-food categories witness sustained growth, companies will need to adapt their strategies to cater to changing consumer preferences. Moreover, the resilience exhibited by traditional retail channels highlights the importance of a diversified distribution network.

Conclusion

The FMCG industry in India continues to be a dynamic and evolving sector, shaped by shifting consumer behaviors and market dynamics. The performance of rural markets, the dominance of HPC categories, and the resilience of traditional retail channels are key trends observed in Q1 2024. As the industry navigates these changes, agility, and innovation will be crucial for companies to stay competitive and capitalize on emerging opportunities in the market.

 

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Pidilite's Quarterly Profit Declines by 6pc, Achieves 15.2pc UVG and 43pc Rise in PAT in FY24
Pidilite's Quarterly Profit Declines by 6pc, Achieves 15.2pc UVG and 43pc Rise in PAT in FY24
 

Pidilite Industries Limited, a leader in the Indian adhesives and sealants market, has announced impressive financial results for the quarter and year ending March 2024. The company recorded a double-digit Standalone Underlying Volume Growth (UVG) in both the fourth quarter and the entire fiscal year. For FY24, the UVG reached 15.2 percent, with specific highlights in the Consumer & Bazar (C&B) segment at 12.7 percent and an outstanding 25.2 percent in the Business to Business (B2B) segment. This performance underscores Pidilite's dominance in a competitive market.

Margin Expansion and Revenue Growth

This year, Pidilite experienced a notable gross margin expansion, up by 691 basis points in Q4 compared to the same quarter last year, largely thanks to easing input prices which allowed for a gross margin increase of 955 basis points over FY23. The EBITDA margins also saw a significant rise, improving by 534 basis points over the previous fiscal year. "At Pidilite, we delivered robust double-digit Underlying Volume Growth (UVG) as well as substantial improvement in profitability, both for the quarter as well as FY24," commented Bharat Puri, Managing Director of Pidilite Industries.

Investments and Global Performance

Continued investments in brand building and customer-facing initiatives were key drivers of this year's success. Despite challenges like global economic uncertainty and inflation, Pidilite's international subsidiaries (excluding the Americas) saw a revenue increase of 7.8 percent over FY23, with a remarkable improvement in EBITDA margins from 10.8 percent to 14.8 percent. Domestically, both the C&B and B2B subsidiaries performed exceptionally well, contributing to the company's overall financial health.

The company remains committed to future growth, investing in new manufacturing facilities, including ten new plants commissioned this year. "We remained focused on building the Pidilite of the future," noted Puri, emphasizing the strategic expansion efforts. Additionally, the divestment of their business in Brazil marks a strategic repositioning, allowing Pidilite to focus more on promising markets.

Robust Financial Figures

In terms of financial metrics, Pidilite reported consolidated net sales of Rs 12,337 crore, marking a 5 percent growth over the last year. The Standalone Performance was also strong with net sales of Rs 11,118 crore, up by 5 percent. Profit After Tax (PAT) saw a significant rise, with consolidated PAT at Rs 1,747 crore, up by 36 percent, and standalone PAT at Rs 1,799 crore, up by 43 percent.

Despite the current market volatility, Pidilite remains optimistic about the future. "While there may be short-term softness in the environment in the near term, we continue to remain optimistic about market demand in the medium term, with overall increase in construction activities, government spending, and increasing prosperity,” Puri explained. The company proposed a final dividend of Rs. 16 per share, indicating confidence in sustained financial health and commitment to delivering shareholder value.

Pidilite's robust performance in FY24 not only highlights its leadership in the adhesive market but also its strategic foresight in navigating through fluctuating market conditions and setting the stage for continued growth in the years to come.

 

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How On-Ground Brand Influencers can Shape the Retail Customer Journey
How On-Ground Brand Influencers can Shape the Retail Customer Journey
 

The term ‘influencer marketing’ often conjures up glitzy, scripted social media content. Instagram is filled with thousands of micro-influencers, macro-influencers, and everything in between. But what does it really mean to be an influencer?

An influencer is recognized as a trustworthy authority in their field and is relied upon by their audience to provide authentic, comprehensive knowledge and guide the decision-making process. Rarely do we think of influencer marketing through an offline lens - a missed opportunity for many retail brands.

With retail consumer spending seeing an uptick, it is time to capitalize on in-person shopping experiences. The best part? Brand managers don't need to go out of their way to hire influencers; they already have a steady stream of on-ground influencers on their payroll - their sales agents.

Why bring your frontline talent to the frontier?

Your brand agents at the store are the walking-and-talking representation of your brand. They have the power to educate shoppers and influence their purchase decisions. Most importantly, they can build customer loyalty where it matters the most - at the point of sale.

In-store retail boasts of a significantly higher conversion rate as compared to that for online stores. A major factor determining this difference is the ability of in-store sales teams to influence prospects who walk into the store, whether through demonstrations, expert guidance, or simply their demeanor.

So, the real question then becomes, how can you leverage your in-house, on-ground brand ambassadors to drive sales.

Six easy strategies to get your offline retail marketing off the ground.

  1. Design the right Brand Ambassador program.

The efficiency and effectiveness of any brand ambassador program critically relies on the correct design and understanding of that program: Who are the target shoppers? Where exactly do they shop? What spiel will draw out their need states and desires? What profile of sales agents would they respond better to? What targets and metrics would drive more contacts and conversion by sales agents?

  1. Train agents to become on-ground brand influencers.

Your sales agents can help customers experience a product first-hand and make the interaction more immersive by:

  • Driving promotional training: Train your on-ground brand ambassadors to communicate about rewarding in-store promotions, limited-time discounts, exclusive offers, and loyalty programs. This creates a sense of urgency and excitement in the customer and motivates them to make a purchase. 
  • Focusing on product demos: Product demonstrations are essential for customer decision-making. Customers find value in product demos, contributing to their purchasing choices. Therefore, ensure your on-ground influencers are well-trained in conducting effective product demonstrations, providing customers with a thorough understanding of the product's features and benefits - an aspect that a digital catalogue can never achieve.

Your retail staff is the literal face of the brand in the customer's eyes. Make them your brand advocates and ensure they are well-versed with the product features, USPs, and product demos to be able to make a lasting impact.

  1. Groom agents on how to make the most of minimal displays and visual merchandising.

Creative displays and well-thought-out store layouts are not a novel concept. Offline retailers understand that the way to a customer's mindshare is via a visually appealing shopping environment. However, to elevate the in-store shopping experience, you must bring well-trained sales agents into the mix. These agents can be trained to:

  • Display products according to the planogram and ace the art of strategic shelf space management.
  • Check and adjust product placements to maximize visibility.
  • Identify low-stock situations and promptly restock products.
  • Cross-sell and upsell with strategically placed items. 
  • Participate in promotional activities (setting up displays, creating eye-catching signage, and more)
  • Engage with customers, listen to their feedback, and address any lingering concerns.

In the end, you want to groom your on-ground agents to be able to influence the customer's shopping journey in every way possible - be it via in-store display, merchandising, or promotional displays.

  1. Train on-ground brand influencers to keep a close eye on competitors.

Your on-ground brand influencers should also be aware of the competitor space. They should constantly check on competitors' offers, launches, and more to make timely updates to the brand and enable customized store/region/seasonality-specific strategies. Keeping a close watch on how your competitors are doing will lead to a more relevant and optimized selling strategy that is better in tune with the customer's needs.

  1. Rethink your Learning & Development programs.

Every offline retailer outlet should think about regular upskilling of the in-store agent's personal and professional skills. Leveraging a mix of offline and online training modules can ensure the team becomes more confident and informed, leading to better outcomes.

Hence, look for a skills-training partner that can offer comprehensive training programs and equip your brand representatives with the knowledge, confidence, and interpersonal skills needed to become effective on-ground influencers.

  1. Balance technology + human skills

Technology is the backbone of any brand ambassador program - an investment, not a cost. For instance, you can automate mundane tasks such as inventory management, sales volume, competition strategy, etc. and provide data driven input & output measures into your sales agents’ hands. These tools can capture critical data efficiently and effectively, enabling your sales staff to focus on influencing the customers walking into the store and delivering the desired service & achievement levels.

Make a conscious choice to pair - and balance - technology with the irreplaceable 'human touch' and enable your sales agents to serve customers better.

Today, every brand aspires to lead in on-ground brand influence, and this is justified. Many consumers believe that retailers should do more to integrate their online and offline channels.

To gain a competitive edge, partner with the right vendor - one who already has the desired expertise & established relationships with retail outlets. This partnership can empower your brand to capitalize on crucial aspects such as shelf space allocation, in-store promotion strategies, new launches, and offers & promotions. To achieve success in influencer marketing using store sales associates as ambassadors, focus on authenticity, relevance, and engagement. Select sales associates who genuinely connect with your brand and target audience, allowing them to share sincere experiences with your products. Tailor content to showcase product benefits in a relatable manner, resonating with potential customers. Cultivate strong relationships with sales associates, providing support and creative freedom to promote your brand effectively. This approach will yield significant results and enhance your influence marketing campaigns.

Krishnakoli Sengupta Kumar, Head, Marketing, Smollan India Krishnakoli Sengupta Kumar, Head, Marketing, Smollan India

An alumnus of the National Institute of Technology and The Wharton School, The University of Pennsylvania, Krishna leads the Marketing Vertical at Smollan India. She has diverse experience in leadership roles in Retail Execution & Activation, Shopper Experience, Strategy & Corporate Development, Operations, Real Estate and Marketing & Sales through her stints at Smollan, the Godrej group & Steel Authority of India Limited.

 

 

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How MAXHUB's Bold Expansion Plan is Reshaping India's Tech Landscape
How MAXHUB's Bold Expansion Plan is Reshaping India's Tech Landscape
 

In a world where connectivity is king and collaboration is key, interactive technology has become the cornerstone of modern communication. Leading the charge in this digital revolution is MAXHUB, a dynamic player in the interactive display space, driven by innovation and a relentless commitment to customer satisfaction.

At the helm of MAXHUB's operations in India is Pankaj Jha, the Country Head and Director of Sales, whose visionary leadership has propelled the brand to new heights. With a keen eye for market trends and a strategic approach to expansion, Jha is steering the brand in India towards unprecedented growth and success.

Unveiling the Strategy for Expansion

MAXHUB's strategy for expanding its dealer network by 50 percent is as ambitious as it is comprehensive. Recognizing the untapped potential of Tier II and III cities in India, the company is poised to establish a strong foothold in these emerging markets. Leveraging the momentum generated by the National Education Policy (NEP) 2020, the brand aims to cater to the growing demand for interactive solutions in the education sector.

"The key to our expansion strategy lies in addressing the unique needs of both the enterprise and education sectors," explains Jha. "By creating a robust network of dealers and partners in Tier II and III cities, we are ensuring that MAXHUB's innovative solutions reach every corner of the country."

Forging Strategic Partnerships

Central to MAXHUB's growth strategy is the cultivation of strategic partnerships with industry leaders. Through alliances with renowned brands like Microsoft, the brand is able to offer integrated solutions that meet the evolving needs of modern workplaces. By leveraging Microsoft Teams room solutions, the brand enhances its value proposition for enterprise clients, providing seamless collaboration experiences that drive productivity and efficiency.

"Our partnerships with industry leaders enable us to deliver best-in-class solutions that empower our customers to achieve their goals," says Jha. "By combining cutting-edge hardware with innovative software solutions, we are redefining the interactive technology landscape in India."

Elevating the Customer Experience

In the competitive world of interactive technology, customer experience is paramount. Recognizing this, MAXHUB places a strong emphasis on delivering unparalleled service and support to its customers. From pre-sales consultation to post-installation assistance, the company is committed to ensuring a seamless experience for every customer. "Our focus is not just on selling products, but on building long-term relationships with our customers," he asserts. "By providing exceptional service and support, we aim to exceed customer expectations and set new standards of excellence in the industry."

Innovation at the Forefront

At the heart of MAXHUB's success lies a culture of innovation and a relentless pursuit of excellence. With a dedicated team of engineers and designers, the company is constantly pushing the boundaries of technology to deliver groundbreaking products and solutions. From high-resolution displays to advanced camera systems, MaxHub's products are designed to enhance collaboration and communication in today's digital world.

"Our commitment to innovation is what sets us apart in the market," says Jha. "By investing in research and development, we are able to stay ahead of the curve and anticipate the evolving needs of our customers."

Navigating Challenges, Seizing Opportunities

As MAXHUB continues its journey of expansion in India, it faces its fair share of challenges. From linguistic and cultural differences to logistical hurdles, navigating the diverse Indian market requires agility and adaptability. However, Jha sees these challenges as opportunities for growth and innovation.

"India's diversity is its strength, and we are committed to harnessing this diversity to drive innovation and create value for our customers," says Jha. "By embracing local languages and customs, we are able to connect with customers on a deeper level and deliver solutions that resonate with their unique needs."

A Vision for the Future

As MAXHUB looks to the future, its vision remains clear – to redefine interactive technology in India and empower individuals and organizations to thrive in the digital age. With a customer-centric approach, strategic partnerships, and a relentless focus on innovation, the brand is poised to shape the future of interactive displays in India and beyond.

"We are on a mission to transform the way people communicate, collaborate, and learn," says Jha. "With our innovative products and solutions, we are empowering individuals and organizations to achieve their full potential in the digital era."

 MAXHUB's journey in India is not just about selling products; it's about transforming lives and shaping the future of interactive technology. With visionary leadership, strategic partnerships, and a commitment to innovation, the brand is paving the way for a brighter, more connected future in India and beyond.

 

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7 Strategies for Consumer Durables Brands to Survive and Thrive
 7 Strategies for Consumer Durables Brands to Survive and Thrive
 

India, the fifth largest consumer durables market globally, continues to witness robust growth in its consumer durable business. This growth is led by factors such as the growing retail sector, robust real estate developments, increasing disposable incomes, and ongoing technological innovations. Additionally, brand licensing has played a significant role in driving expansion and innovation within the consumer durables industry in India. These factors collectively contribute to India's status as one of the fastest-growing consumer durables markets worldwide.

To succeed in this growing market, consumer durables brands need strategic approaches that meet evolving consumer demands. Here are six strategies for brands to thrive:

Comprehensive Presence Across Touchpoints

One of the primary challenges confronting consumer durables brands in India is establishing a comprehensive presence across all touchpoints. Research indicates that a substantial percentage of final purchases stem from the initial consideration set of brands. Therefore, it is important for brands to ensure visibility at every stage of the consumer journey, from initial awareness to post-purchase loyalty. This requires the development of an integrated strategy that leverages both digital and physical platforms to maximize exposure and engagement.

Tailoring Marketing Strategies to Regional Preferences

Consumer durables brands must tailor their marketing strategies to accommodate regional preferences and behaviors. India's diverse cultural fabric means that what appeals to consumers in one state may not necessarily resonate with those in another. By understanding and adapting to local tastes, festivals, and buying patterns, brands can optimize their marketing efforts and establish a compelling presence in each region.

Understanding Consumer Research Patterns

In the digital age, consumers have access to a wealth of information through various channels. Understanding the research patterns of these tech-savvy consumers is essential for brands seeking to influence the purchase decision. By providing accurate and updated information across multiple touchpoints, brands can guide consumers along the path to purchase and foster brand loyalty.

Maximizing Retail Touchpoints

Maximizing Retail Touchpoints

Despite the growing importance of digital platforms, retail touchpoints remain fundamental to the consumer durables industry. Physical interactions such as live demos and product inspections play a crucial role in the decision-making process for many consumers. Therefore, brands must prioritize creating an omnichannel experience that delivers consistent messaging and experiences across both offline and online channels.

Competition from Unorganized Players

Competition from unorganized players poses a significant challenge for consumer durables brands. These players often offer low-cost alternatives imported from other countries with untested quality standards, undercutting companies that adhere to metrology rules and defined quality standards. To overcome this challenge, companies must emphasize the quality, safety, and reliability of their products. Creating awareness about the potential risks associated with substandard products can help influence consumer preferences and build trust in the market.

Meeting Demand for Innovative Home-Centric Products

Consumers are seeking products that not only fulfil their functional needs but also enhance their living experience. Innovative offerings such as Interactive Flat Panels, smart home appliances, and advanced entertainment systems are gaining traction among consumers looking to upgrade their living spaces with cutting-edge technology. Brands that can tap into this demand and introduce products that blend functionality with innovation stand to gain a competitive edge in the market.

Addressing Healthcare Needs with Specialized Products

Addressing healthcare needs with specialized products presents another significant opportunity for consumer durables brands. With growing health consciousness among consumers, there is a rising demand for products that promote wellness and cater to specific healthcare requirements. For instance, alkaline water purifiers, designed for both commercial and domestic use, are gaining popularity due to their purported health benefits. These purifiers not only provide safe and clean drinking water but also offer alkaline water, which is believed to have antioxidant properties and promote better hydration. By focusing on healthcare-centric offerings, consumer durables brands can cater to a growing segment of health-conscious consumers and differentiate themselves in the market.

Going Green

Consumers care about the environment. Brands can win them over by using eco-friendly materials, reducing waste, and promoting recycling. By showing they're environmentally responsible, brands can appeal to eco-conscious consumers and boost their reputation.

While the consumer durables market does offer significant opportunities, it still faces challenges such as competition from Chinese manufacturers and the need for substantial investments in efficient manufacturing. However, with govt support in the form of PLI and other incentives, India has the potential to emerge as leading hub for consumer durables manufacturing. For increasing domestic sales share, companies must focus on building robust distribution networks and strategic partnerships to establish themselves as key players.

H S Bhatia, Managing Director, Kelwon Electronics & Appliances Pvt. Ltd

H S Bhatia Managing Director Kelwon Electronics and Appliances Pvt Ltd, Manufacturing Partner Daewoo India

 

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The Power of Personalization: Customization Trends in Fashion E-commerce
The Power of Personalization: Customization Trends in Fashion E-commerce
 

In the dynamic world of fashion e-commerce, staying ahead of the curve often means more than just showcasing the latest trends. Today's consumers are seeking personalized experiences that resonate with their unique style preferences. As technology continues to evolve, fashion retailers are increasingly harnessing the power of personalization to offer tailor-made shopping experiences. In this article, we'll delve into the trends and strategies that highlight the transformative impact of customization in the realm of online fashion retail.

Understanding the Shift towards Personalization
Gone are the days when one-size-fits-all approaches dominated the fashion industry. Modern consumers are drawn to personalized experiences that reflect their individuality. This shift is driving fashion e-commerce platforms to adopt sophisticated strategies that cater to the diverse tastes and preferences of their customer base. Personalization is no longer an option; it's a necessity for brands aiming to foster deeper connections with their audience.

Customized Recommendations and Curations
Fashion e-commerce platforms are leveraging advanced algorithms and data analytics to offer personalized product recommendations. By analyzing a customer's browsing history, purchase behavior, and style preferences, these platforms can curate bespoke selections tailored to each individual. This not only streamlines the shopping process but also introduces customers to new styles and trends that align with their taste.

Tailoring the Shopping Journey
The rise of customization in fashion e-commerce goes beyond product recommendations. Retailers are now focusing on tailoring the entire shopping journey to create a cohesive and personalized experience. This includes personalized landing pages, dynamic content based on customer preferences, and targeted promotions. The goal is to make every step of the customer's journey feel uniquely tailored, enhancing their overall satisfaction and engagement with the brand.

Made-to-Order and Customization Options
The demand for unique and personalized fashion items has given rise to the made-to-order trend. Many fashion e-commerce platforms now offer customization options, allowing customers to personalize colors, fabrics, and even design elements of their chosen products. This not only satisfies the desire for exclusivity but also aligns with the growing emphasis on sustainable and ethical fashion practices.

Virtual Try-On Experiences
Virtual try-on experiences have become a game-changer in the world of online fashion retail. By leveraging augmented reality (AR) and virtual reality (VR) technologies, fashion e-commerce platforms enable customers to virtually try on clothes before making a purchase. This not only enhances the online shopping experience but also reduces the likelihood of returns, creating a win-win situation for both retailers and consumers.

Building Brand Loyalty Through Personalization
The power of personalization extends beyond the initial purchase; it plays a crucial role in building long-term brand loyalty. When customers feel understood and catered to on an individual level, they are more likely to return and become brand advocates. Fashion e-commerce platforms are recognizing the importance of fostering these connections, investing in personalized loyalty programs, exclusive offers, and early access to new collections based on individual preferences.

Challenges and Future Directions
While personalization offers significant benefits, fashion e-commerce platforms must navigate challenges such as data privacy concerns and the need for robust cybersecurity measures. Striking the right balance between customization and privacy is essential for maintaining customer trust. Looking ahead, the integration of artificial intelligence and machine learning is expected to further refine personalization strategies, providing even more accurate and dynamic shopping experiences.

The era of personalization in fashion e-commerce has arrived, and it's reshaping the way consumers engage with brands online. By embracing customization trends, fashion retailers can create a more meaningful and tailored shopping experience, ultimately strengthening their connection with customers. As technology continues to evolve, the possibilities for personalization are limitless, offering a bright future for fashion e-commerce that is as unique and diverse as the individuals it serves.

Ashmika A. Sadh, Founder, Zip Zap Zoop

Ashmika A. Sadh, Founder, Zip Zap Zoop

 

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Trends in the FMCG Industry for 2024
Trends in the FMCG Industry for 2024
 

The Fast-Moving Consumer Goods (FMCG) industry is undergoing a transformative phase in 2024, shaped by the aftermath of global events and changing consumer dynamics. The surge in online consumer goods demand, accelerated by the pandemic, is prompting FMCG companies to adopt direct-to-customer approaches and prioritize digital channels for distribution.

Concurrently, sustainability emerges as a pivotal trend, with major FMCG players aligning their strategies to meet the growing demand for eco-friendly products. This shift in consumer values, coupled with an increased focus on conscious living post-pandemic, is influencing the FMCG sector to cater to products that contribute not only to nutritional needs but also to overall health. As 2024 unfolds, these trends will guide FMCG organizations in adapting and innovating to meet the evolving expectations of consumers.

FMCG Trends for 2024

Anticipated to be catalysts for business growth in 2024, these trends are poised to significantly impact brands within the FMCG industry:

Sustainability

The sustainability trend in the FMCG industry is poised to gain further momentum. With heightened consumer awareness of climate change and environmental impacts, companies are increasingly scrutinized for their social responsibility. As a response, FMCG firms are expected to intensify efforts not only in reimagining product presentation and packaging but also in the conscientious selection of materials used in production.

Foreseen as a prominent trajectory for the upcoming year, FMCG companies are projected to expand their offerings of compostable, recyclable, and reusable packaging to meet the growing consumer demand for eco-friendly choices. This shift is not confined to the realm of food but is expected to encompass various non-food items such as cosmetics and cleaning products, reflecting an industry-wide commitment to sustainability and ethical sourcing.

Surge in Healthy Snacking

The industry is expected to witness a sustained focus on conscious snacking, striking a delicate balance between health and taste. This trend is likely to be fueled by the growing preference of the working population for convenient foods that are not only tasty but also high in nutritional value. The key drivers for this trend include the rising demand for on-the-go snacking options that are both ready-to-eat and ready-to-cook, offering a combination of flavor, health benefits, and ease of consumption. As consumers increasingly prioritize a holistic approach to well-being, the convergence of taste, health, and convenience is anticipated to define the snacking sector in 2024.

Priority on Genuineness and Authenticity

In the fast-paced landscape of Fast-Moving Consumer Goods (FMCG), a notable trend for 2024 centers around consumers' heightened awareness of product ingredients. With a focus on making swift and informed choices regarding nutritional content, consumers are actively scrutinizing product formulations. The key driver behind this trend is the growing emphasis on realness and authenticity, values deeply cherished by today's consumers. The quest for products perceived as natural, believed to be beneficial for personal well-being and the environment, has surged. This authenticity drive manifests in an increased demand for products boasting free-from-claims and streamlined ingredient lists.

Adjusting Economic Realities

Consumers, grappling with the repercussions of price inflation, are proactively trimming their expenditures on food and beverages. This shift toward recessionary spending habits signals a decline in buying bigger family packs and replacing them with smaller packs. However, this does not translate into a willingness to compromise on quality. To navigate this economic landscape, consumers are adopting resourceful strategies such as minimizing food waste and capitalizing on promotional offers. Brands poised for success in 2024 should focus on packaging innovations to extend product shelf life. Additionally, providing personalized promotional offers tailored to individual needs will be crucial for FMCG brands in meeting the evolving preferences of budget-conscious consumers.

Artificial Intelligence

In the ever-evolving landscape of the FMCG industry, AI-powered solutions, particularly Machine Learning (ML) and Natural Language Processing (NLP) are emerging as a prevailing trend, creating substantial opportunities for innovation. Notably, voice-based systems stand out, providing continuous consumer support for product exploration, coupled with recommendation engines that deliver personalized product suggestions. The incorporation of these AI-based solutions reflects a prominent trend, enhancing the overall customer experience and contributing to heightened satisfaction and increased retention for FMCG companies.

Big Data & Analytics

In a dynamic shift, FMCG companies are actively harnessing the power of big data to fuel innovation and a competitive edge within the industry. As consumer data becomes increasingly accessible through online shopping, brands are venturing into innovative approaches to foster stronger relationships with customers and extract valuable insights from their behaviors.

FMCG analytics serves as the driving force, delving into customer preferences and behaviors, and providing companies with profound insights into their purchasing habits. The integration of big data solutions and analytics in the FMCG sector empowers brands to optimize communication strategies, ensuring more personalized experiences for customers and creating a pathway for enhanced engagement in the ever-evolving landscape.

Blockchain

In the competitive landscape of FMCG, brands are increasingly leveraging blockchain technology to establish a distinctive edge. The adoption of smart contracts and blockchain traceability emerges as a key trend, enabling FMCG companies to identify and promptly address supply chain bottlenecks.

This trend extends beyond operational efficiency, with blockchain providing enhanced transparency for consumers. Shoppers can now effortlessly trace the origins of their purchases, fostering a sense of trust and accountability. Additionally, blockchain platforms introduce cryptocurrencies and innovative loyalty programs, reshaping how consumers collect, exchange, and redeem points. This trend is anticipated to not only elevate operational efficacy but also redefine consumer-brand interactions in 2024.

Final Words

In this dynamic landscape, FMCG companies are poised to navigate a future marked by innovation and responsiveness to consumer needs. The convergence of sustainability, digitalization, and heightened customer experiences forms a strategic foundation, while the e-commerce boom propels brands toward a digitally connected future. Artificial Intelligence and Big Data fuel insights, while the emerging trend of 3D Printing promises a sustainable revolution. As the FMCG industry embraces these forward-looking trends, it charts a course towards a more interconnected, sustainable, and customer-centric future in the ever-evolving marketplace.

 

About the Author

Manish Aggarwal, Director, Bikano, Bikanervala Foods Pvt Ltd

Manish Aggarwal, Director, Bikano, Bikanervala Foods Pvt Ltd

For about 20 years now, Manish Aggarwal has been a prominent face in the Indian FMCG industry. During these years, he has proved himself to be an outstanding business leader, innovator and an out-of-the-box thinker always ready to ‘take on’ new problems. In his role as a director at Bikano and as a veritable problem solver, Manish Aggarwal has effected a transformational shift in the way the company’s business operations are conducted and managed. By streamlining and standardising processes and operations, he has not only introduced increased cost-efficiencies and better time management but also set a template for a perfect process-driven business management for the company. 

 

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The Green Revolution in Kitchens: Embracing Eco-Friendly Appliances for Sustainable Cooking Experiences
The Green Revolution in Kitchens: Embracing Eco-Friendly Appliances for Sustainable Cooking Experiences
 

An eco-friendly way of living is slowly but surely permeating all facets of our existence. After green buildings and green automobiles, it’s now the turn of kitchen appliances to go green. Enter the era of eco-friendly kitchen appliances.

This green revolution in the kitchen follows the age-old traditional kitchens. Traditional kitchens, with their cooking done on wood fire and gas fire, have resulted in resource depletion and waste generation, resulting in ecological degradation. So, the advent of eco-friendly appliances in kitchens presents a beacon of hope to mitigate the environment-degrading practices of the past.

Let's take a close look at why eco-friendly kitchen appliances are gaining popularity and how they revolutionize the cooking experience.

Factors that contribute to the rise in popularity

The rising use of eco-friendly kitchen appliances is heralding a transformative era in our cooking spaces. It reflects a collective shift towards energy efficiency and conscious living, allowing individuals to make sustainable decisions in their homes. Eco-friendly kitchen appliances help cut down power bills and decrease carbon emissions through lesser use of finite power sources. All these, while enjoying the same – or even better – taste of the food cooked, and with greater convenience. Thus, the use of eco-friendly kitchen appliances not only elevates the cooking experience in the kitchen but also closely aligns with their environment-conscious values.

As environmental concerns take center stage globally consumers are becoming increasingly aware of the ecological impact of their choices. In this context, the growing popularity of energy-efficient appliances reflects a larger trend towards sustainability and resource conservation.

For instance, as energy costs rise, the appeal of appliances that consume less power becomes a significant factor in their popularity. This trend is supported by increased knowledge of the environmental and economic benefits of lower energy consumption. As consumers attempt to reduce their carbon footprint and lower their electricity bills, the energy efficiency of appliances has become an important consideration in their purchasing decisions.

Smart appliances, such as electronic pressure cookers and energy-efficient induction cooktops, have emerged as popular options among environmentally conscious consumers. These products use innovative technology to optimise energy utilization, lowering both gas and electricity consumption compared to standard gas burners. Design is another area where these eco-friendly appliances are making a mark. These appliances are designed to be energy-efficient and help users reduce their carbon footprint.

Also, the use and cleaning of these eco-friendly appliances in kitchens entails the use of less water and detergents compared to normal appliances, which again contributes to mitigating the adverse impact of past practices on the environment.

Eco-friendly kitchen appliances are designed to save resources by using recycled materials and reducing waste during manufacturing. Companies are exploring and incorporating innovative, sustainable, and recyclable materials like paper, glass, aluminum, and brass into their manufacturing processes to reduce their impact on the environment. This approach resonates with consumers who prioritize responsible consumption.

Moreover, brands are implementing eco-friendly practices at all stages of their manufacturing processes. They are using solar or wind energy, optimizing their factories to reduce energy consumption during production by using renewable energy sources or implementing energy-saving technologies, and looking for ways to reduce packaging waste by using recyclable materials or designing more compact packaging.

When designing appliances, manufacturers prioritize energy-efficient models that require less power or gas to complete the same activities.

Transformation of the cooking experience

Using these eco-friendly kitchen appliances which feature innovative technologies helps transform the cooking experience in various ways. Eco-friendly appliances, like induction cookers and Infrared cooktops, are being manufactured with advanced insulation materials and inset with smart sensors and more. They operate quietly, producing less pollution compared to traditional gas stoves. This enhances the overall ambiance of the kitchen, making it smoke-free and a more pleasant space. The time-setter on these appliances helps you cook food for exactly the amount of time programmed without wasting even a second.

Beyond convenience, eco-friendly appliances encourage better cooking habits. For example, induction cooktops provide unprecedented temperature control precision, reducing the risk of overcooking and preserving the nutritional integrity of products. Similarly, air fryers promote healthy cooking by using less oil and attaining the appropriate crispness and browning in a quarter of the time required by conventional ovens. Additionally, using low-wattage appliances like bullet blenders, dough makers, and fast-choppers can help save both time and energy in food preparation for busy households. This not only promotes healthy eating habits, but it also helps with energy efficiency by harmonizing with sustainable cooking practices while maintaining taste and quality.

Conclusion

The rise of eco-friendly kitchen appliances marks a pivotal moment in our culinary spaces. Choosing these appliances is not just about being trendy but embracing a lifestyle that respects our environment, avoiding damage to the environment.

Kitchen appliance makers are increasingly recognizing the significance of environmental friendliness and sustainability in meeting consumer demand and harmonizing with changing cultural norms. By demonstrating their commitment to eco-friendly practices, these businesses position themselves favorably for clients who value environmental stewardship in their purchase decisions. Manufacturers react to client demands by developing and promoting eco-friendly appliances.

The decisions we make as consumers in our kitchens can significantly influence good change on a broader level. Selecting environmentally friendly appliances not only lowers our carbon footprint but also promotes sustainable practices in the industry as a whole. A more sustainable lifestyle and a better relationship with the environment are fostered by every choice to give priority to eco-friendly options.

 

Authored By

The Green Revolution in Kitchens: Embracing Eco-Friendly Appliances for Sustainable Cooking Experiences

Dr. Manu Nanda, CMO, Stovekraft

 

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Indian Apparel Exports Set to Surge by 8-9 pc in FY2025
Indian Apparel Exports Set to Surge by 8-9 pc in FY2025
 

The Indian apparel export industry is gearing up for a recovery in the fiscal year 2025. Despite facing challenges in FY2024 due to tepid demand, the industry is expected to bounce back with an estimated 8-9 percent increase in revenues, reaching Rs 28,150 crore from Rs 26,000 crore in the previous fiscal year, according to a recent research note by ICRA.

Factors Driving Recovery

Low Base Effect

The anticipated recovery in FY2025 is largely attributed to the low base effect from the previous fiscal year. With the replenishment of stock in key markets such as the US and the EU regions, the industry is poised to benefit from increased demand.

Inventory Liquidation

Retail apparel brands in the US and the EU, which collectively represent a significant portion of global apparel trade, are expected to liquidate high inventory build-up. This is anticipated to occur in the first half of FY2025, boosting orders for the Summer 2024 season.

Government Initiatives

Long-term growth prospects for the industry are bolstered by various promotional steps undertaken by the Government of India. These include schemes such as Production Linked Incentives (PLI), PM Mitra parks, proposed Free Trade Agreements (FTAs) with the UK and the EU, and the broader trend of diversifying apparel sourcing away from China.

Challenges and Resilience

Impact of Red Sea Conflict

While the ongoing Red Sea conflict has resulted in delayed shipments, apparel exporters operating on a Free on Board (FOB) basis have not experienced immediate cost implications. However, sustained tension could lead to reduced export volumes and lower realizations due to increased costs for customers.

Operating Environment and Capex

A difficult operating environment in FY2024 postponed large capital expenditure investments for many players. However, with expectations of demand revival in FY2025 and strategies to capitalize on the "China Plus One" movement, a pickup in capex spending is anticipated.

Government Schemes and Industry Outlook

PLI and MITRA Schemes

The PLI scheme, along with the PM Mega Integrated Textile Region and Apparel (MITRA) schemes, are expected to bolster India's presence in the global apparel trade. These initiatives will facilitate capacity expansions, provide scale benefits, and strengthen India's position in the man-made fiber (MMF) value chain.

Performance Metrics

Despite challenges, ICRA estimates a mild 5-6 percent year-on-year dip in revenues for FY2024 among its sample companies. However, coverage ratios are expected to marginally moderate due to weakened earnings. The interest cover is projected to be around 5.6-5.8 times and the total debt to OPBDITA around 1.8-1.9 times for FY2025.

Operational Insights and Pricing Dynamics

Operational Margins

Operating margins of apparel exporters are expected to moderate to 9.8-10 percent in FY2024, down from 11.3 percent in FY2023. This decline is attributed to weaker operating performance and a contraction in volumes leading to reduced operational efficiencies.

Cotton Yarn Prices

Despite lower cotton yarn prices in FY2024 compared to the previous year, the benefits are being passed on to customers due to weak demand. However, stability in export incentives and increased scale are anticipated to cushion profitability in FY2025.

In conclusion, while FY2024 presented challenges for the Indian apparel export industry, the outlook for FY2025 appears promising, driven by factors such as inventory replenishment, government initiatives, and strategic industry responses to global shifts.

 

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Spiritual Tourism Sparks Retail Renaissance in Sacred Cities
Spiritual Tourism Sparks Retail Renaissance in Sacred Cities
 

As more pilgrims and spiritual seekers visit holy cities in India, retail brands across segments, including fashion & apparel, food & beverage, hypermarkets, homeware & department stores, and consumer electronics brands, are expanding by tailoring the offerings to the pilgrim’s needs. This trend underscores the symbiotic relationship between spiritual tourism and the retail industry, benefiting both sectors from the increased foot traffic.

CBRE South Asia Pvt. Ltd. has announced the findings of its report, ‘Decoding Real Estate through the Spiritual Tourism Lens’. The report highlights retail chains capitalizing on the surge in spiritual tourism across 14 key cities in India.

Rise of Urban Spiritual Tourism

The surge in spiritual tourism reflects a broader shift in tourist preferences, with travelers seeking transformative experiences beyond traditional rituals. The rise of urban spiritual tourism caters to this desire, attracting visitors to cities known for their deep religious and spiritual significance. Cities such as Amritsar, Ajmer, Varanasi, Katra, and Somnath are witnessing a notable retail boom as a result of this trend.

Tailoring Offerings to Pilgrims’ Needs

Retail brands are strategically adapting their offerings to cater to the growing tourist population. From fashion & apparel to food & beverage, and from consumer electronics to homeware & department stores, brands are customizing their products and services to align with the needs and preferences of pilgrims and spiritual seekers.

Infrastructure Development

Enhanced infrastructure, including well-connected roads, airports, and public transportation, has played a significant role in driving the surge in spiritual tourism. The development of various accommodation options, such as hotels, guesthouses, and wellness centers, ensures a comfortable and convenient stay for travelers visiting these cities.

Culinary Traditions and Fashion Expertise

Cities like Amritsar, Varanasi, Madurai, and Puri are leveraging their unique culinary traditions and local fashion expertise to further attract and engage visitors. Integrating local practices into the design and offerings of shops, restaurants, and hotels creates unique retail experiences for pilgrims and tourists alike.

Leading Hotels Catering to Spiritual Travelers

Spiritual tourism remains an attractive revenue stream for India's hospitality sector. Major hotel chains are adapting to the evolving preferences of spiritual tourists by offering clean, hygienic, and family-friendly accommodations that command premium pricing. Branded hotels are emerging as key players, offering a blend of comfort and traditional hospitality tailored for spiritual seekers.

Wellness Centers and Hospitality Collaboration

A partnership has developed between wellness centers and hospitality brands to serve the needs of spiritual tourism. Wellness centers offer services like yoga and Ayurveda to enhance physical, mental, and spiritual health, while hospitality brands create serene environments, customize wellness programs, and provide access to sacred sites and temples for immersive spiritual experiences.

Government Initiatives and Online Retail Platforms

Government initiatives to promote tourism and improve connectivity between pilgrimage sites are further boosting the growth of spiritual tourism in India. The rise of online retail platforms offering easy access to faith-based products and services is also a key factor contributing to this growth.

Investment Opportunities and Economic Growth

Driven by the growing popularity of spiritual tourism, investors are flocking to capitalize on the market's potential. Investments aim to deliver high-quality accommodations, bolster infrastructure, safeguard heritage sites, and ultimately drive regional economic growth. This trend has created opportunities for the hospitality and retail sectors to thrive in these destinations.

Enhanced Infrastructure and Streamlined Travel Services

Enhanced infrastructure, including improved highways, upgraded railway stations, and new airports in cities like Varanasi, Ayodhya, and Amritsar, makes these spiritual hubs more accessible. Streamlined travel services such as online booking systems, tourist information centers, and heightened security measures enhance the overall travel experience.

Cultural Immersion and Spiritual Growth

The shift towards experiential travel is largely driven by younger generations seeking cultural immersion and spiritual growth. Tour companies are responding to this demand by offering personalized pilgrimages and wellness programs that include activities like meditation, yoga, and Ayurveda.

In conclusion, the surge in spiritual tourism in India is not only reshaping the retail and hospitality sectors but also contributing to regional economic growth. As travelers increasingly seek transformative experiences, cities with deep religious and spiritual significance are emerging as key destinations, driving investment and innovation in infrastructure, retail, and hospitality offerings.

 

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The Future of Retail is Cross-Channel — Are You Ready to Seize the Opportunity?
The Future of Retail is Cross-Channel — Are You Ready to Seize the Opportunity?
 

In the ever-evolving retail landscape where customers are more connected, aware, and channel agnostic, staying ahead of the curve is crucial for success. Cross-Channel Retail, a set-up from multichannel retail has been a game-changer in recent years. It has been designed for four specific goals, firstly to acquire new customers, second to retarget the shoppers, third to activate the non-buyers, and fourth to increase the second purchase rate. As it gives customers the flexibility to enjoy every purchase across different channels. Big giants in the retail industry are making huge millions by offering an enigmatic customer experience through Cross-Channel Retail. Thus, it is important to know its meaning, benefits, challenges, and what the future holds for retailers who embrace this transformative approach.

One Strategy

Cross-channel retail is a pivotal part of any successful retail strategy that describes the process of offering customers a seamless shopping experience across multiple channels. By adopting a cross-channel approach, retailers create a logical progression by keeping a close eye on customer actions and behavior. This leads to consistent brand presentation, which helps in creating a cohesive brand identity. At its core, cross-channel retail integrates different shopping channels, including brick-and-mortar stores, and all online platforms accessed through mobile apps, websites or social media. This helps businesses to improve customer loyalty, increase engagement, and boost sales.

One of the key principles of cross-channel retail is the integration of retail channels, to ensure the access to the same products, promotions, and information to the customers regardless of the channel they choose. The likelihood of a customer coming back to a brand increases when the customer has a favorable experience. In one of the reports by McKinsey, the 3C’s of customer satisfaction mentioned, “Maximizing satisfaction with customer journeys has the potential not only to increase customer satisfaction by 20 percent but also lift a revenue by 15 percent while lowering the cost of serving customers by as much as 20percent”. Through this integration, the seamless shopping experience helps in supporting brand loyalty and consistency.

 Beyond creating brand awareness and building trust, cross-channel retail has its own merits. This integration connects the dots and gives the power to reach a wider audience with an opportunity to connect with different segments and amplify the presence of the brand. By offering a seamless and integrated shopping experience, retailers can enhance customer engagement and loyalty. It is important to break down the silos and ensure that customers can switch among channels effortlessly. Getting insights into customer behavior, purchasing habits, and preferences is another merit of cross-channel retail. “Retail companies with strong cross-cha percent for companies with weak cross-channel strategies”, as per the report by Gruscoach (2024). With this knowledge, retailers can tailor their marketing efforts and make informed business decisions. Today's consumers expect more than just the ability to purchase products; they ask for personalized experiences that cater to their preferences and lifestyles. To meet these expectations, cross-channel retail aims to provide a seamless and integrated shopping experience across all channels by maintaining a consistent tone of voice. Thus, it is important to implement integrated system, synchronized data and a consistent brand voice across all platforms.

Where the Future Lies

The future of retail belongs to those who realize that to thrive in this digital era, cross-channel retail is a necessity. However, these benefits come with challenges like threats associated with data security, and interoperability. Retailers should focus on five actions, first, ‘zero friction’ digital experience, second, ‘in-store feel’ to digital experience, third, ‘safe experience’, fourth, creating a ‘store for the future’, and lastly, fifth, ‘agile operating model’. This seismic shift is writing a playbook for success, offering retailers the opportunity to redefine the shopping experience. By embracing this approach, retailers can reach new heights, enhance customer engagement and loyalty, and thrive in an increasingly digital world.

 

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Women Driving Innovation in Retail F&B
Women Driving Innovation in Retail F&B
 

From technology to finance, women entrepreneurs are breaking barriers and carving out their paths to success, contributing significantly to the global economy. In this dynamic landscape of empowerment and independence, the food and beverage sector stands out as a prime example of women’s entrepreneurship flourishing.

Women in the F&B industry are trailblazers, challenging traditional norms and redefining what it means to be successful in business. With a keen eye for opportunity and a willingness to take calculated risks, they are breaking new ground and setting new standards for excellence. From introducing unique menu offerings to implementing cutting-edge technologies, women entrepreneurs are constantly pushing the envelope, driving innovation, and reshaping the landscape of the F&B sector.

Unlocking Opportunities in Retail F&B

For years, women have been trained in the art of running a kitchen, mastering the skills necessary to nourish their families. Now, with evolving times, women are leveraging this traditional training and household expertise to embark on entrepreneurial endeavors within the F&B sector. From artisanal bakeries to specialty cafes, women-owned businesses are not only creating unique offerings but also tapping into their deep understanding of diverse consumer preferences.

This shift from household caretaker to business innovator is evident in the way women entrepreneurs are revolutionizing traditional F&B concepts. Just as catering to a family requires an intimate understanding of each member’s tastes and preferences, venturing into the F&B business with this background equips women with deeper understanding of consumer preference, thus, curating personalized customer experiences.

Embracing Technology and Innovation

While the foundation of a successful F&B venture may be rooted in traditional culinary expertise, women entrepreneurs are seamlessly integrating technology and innovation into their operations. Understanding that innovation and technology is imperative to thrive in today’s market, women are harnessing technology to streamline operations and enhance efficiency in their businesses.

This adoption of technology not only allows women entrepreneurs to run their businesses more efficiently but also empowers them with newfound skills and knowledge. Beyond mastering their food products, they’re delving into the realms of digital marketing and exploring new strategies to reach and engage with a broader consumer base. With each step towards embracing technology, these women are not only reshaping the retail F&B sector but also carving out a path towards empowerment and independence.

Innovating with Flavors: Infusing Tradition with Modern Twists

One of the hallmarks of women entrepreneurs in the F&B sector is their penchant for innovation and experimentation with flavors. They infuse traditional recipes with modern twists, breathing new life into classic dishes and captivating the taste buds of their customers. Whether it's incorporating exotic ingredients, experimenting with unique flavor combinations, or drawing inspiration from their personal stories and cultural influences, women entrepreneurs in the F&B sector are fearless in their pursuit of culinary excellence. Their willingness to take risks and push the boundaries of flavor profiles sets them apart as true innovators in the industry.

Mastering the Art of Multitasking

Women entrepreneurs in the F&B sector are renowned for their exceptional multitasking abilities. Balancing the demands of running a business while also innovating in the kitchen requires a unique skill set that women entrepreneurs have mastered. From managing inventory and finances to overseeing operations and customer service, they seamlessly juggle multiple responsibilities to ensure the success of their ventures. Their ability to multitask effectively is a testament to their resilience, adaptability, and commitment to excellence.

Their efficient multitasking abilities extend beyond the confines of their homes and into their businesses, where they excel in various fields of operation. This dedication and ability to manage diverse tasks not only contribute to the growth of their businesses but also empower other women to pursue their entrepreneurial aspirations.

Leading the Change

In Retail F&B sector, women entrepreneurs are not just participants but leaders, leading the charge towards innovation and growth. Their visionary leadership and relentless pursuit of excellence serve as a driving force, inspiring others to embrace new possibilities and push the boundaries of success.

Their visionary leadership extends beyond the confines of their businesses, inspiring others to dream big and pursue their passions fearlessly. Leading by example, women entrepreneurs are not only achieving remarkable success in their own right but also empowering others to unlock their full potential. Their stories of resilience, determination, and triumph serve as beacons of hope and inspiration, igniting a spark of possibility in those who dare to dream.

As we celebrate International Women's Day, it's crucial to recognize the transformative impact of women entrepreneurs in the Retail F&B sector. Their resilience, determination, and unwavering commitment to excellence have not only reshaped the industry but also inspired a new generation of leaders. From breaking traditional norms to embracing technology and fostering collaboration, women entrepreneurs have demonstrated the limitless potential of women in business. Let us applaud their achievements and commit to supporting and empowering them on their entrepreneurial journey. By providing access to mentorship, training, and networking opportunities, we can create an inclusive ecosystem where women can thrive and contribute to the F&B industry. Together, let us continue to champion diversity, equity, and inclusion, unlocking the full potential of women entrepreneurs and driving collective growth and innovation in the F&B sector.

Sheetal Bhalerao, Chairperson and Managing Director of Wardwizard Foods and Beverages Ltd

Authored by Sheetal Bhalerao, Chairperson and Managing Director of Wardwizard Foods and Beverages Ltd

 

 

 

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Q-Commerce Set for 40-45 pc GMV CAGR Over Next 3 Years
Q-Commerce Set for 40-45 pc GMV CAGR Over Next 3 Years
 

In the dynamic realm of retail and e-commerce, one phenomenon has emerged as a game-changer: the rapid ascent of quick commerce (q-commerce) in India. With its current market size soaring to $2.8 billion, q-commerce is poised to disrupt the traditional retail landscape, reshaping consumer shopping habits and industry dynamics alike.

Driving Forces of Q-Commerce

Urbanization and Rising Disposable Incomes: India's urban population, coupled with increasing disposable incomes, has created a significant demand for convenient, on-demand shopping solutions. Q-commerce platforms have capitalized on this trend by offering instant product deliveries within an impressive 8-20 minute timeframe, particularly resonating with Gen Zs and millennials in major metros.

Surprising Success Amid Global Failures: Despite global failures of similar models, the success of q-commerce in India has stunned industry experts. Notably, q-commerce leaders are not just experiencing growth but are also moving towards profitability, positioning India as a global pioneer in q-commerce success.

Key Factors Driving Q-Commerce Growth

Skyrocketing GMV: Q-commerce has sustained its momentum, achieving an unprecedented 77 percent year-on-year growth in Gross Merchandise Value (GMV) despite a sluggish year for consumption in 2023. This growth highlights a notable K-shaped recovery, with A-led consumption flourishing while B/C consumption remained stagnant.

New User Adoption: Q-commerce's seamless consumer experience has attracted new users, who are shifting their e-commerce spending towards q-commerce platforms. Gen Zs and millennials in cities like Bangalore, Delhi NCR, and Mumbai are leading the charge, with existing users also increasing their spending habits.

Winning Event Days and Category Diversification: Q-commerce platforms have mastered understanding consumer purchase patterns, and customizing selection and experiences accordingly. Event-driven promotions, such as during the Cricket World Cup Final and Valentine’s Day, have led to record sales. Additionally, platforms are diversifying beyond groceries into categories like beauty, electronics, and home decor, attracting Direct-to-Consumer brands as lucrative partners.

Path to Profitability: Q-commerce platforms are not just experiencing explosive growth but are also inching closer to profitability. Strategies such as non-grocery expansion, optimization of dark store utilization, growth in advertising revenues, and rise in commissions are bolstering profitability prospects. Q-commerce contribution margins are expected to reach +6-7 percent by 2026.

Sustainable Growth: Q-commerce is poised for sustained growth, with projections indicating a 40-45 percent Compound Annual Growth Rate (CAGR) over the next three years. Despite significant growth, average monthly transacting users remain a fraction of those in online food delivery and mobility sectors, indicating substantial room for expansion, particularly in Tier I cities.

Future Outlook and Conclusion

The rise of q-commerce in India represents a paradigm shift in the retail industry, driven by changing consumer behaviors, technological advancements, and a conducive business environment. With its ability to offer instant gratification and unparalleled convenience, q-commerce is redefining the shopping experience for Indians and presenting significant investment opportunities.

While the outlook is promising, the consistency of q-commerce performance in upcoming quarters remains to be seen. Additionally, the response from legacy e-commerce platforms will shape the competitive landscape in the months to come. Nevertheless, q-commerce is set to continue its upward trajectory, reshaping the retail industry and offering immense growth potential for industry players.

 

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Breaking: Australian Homewear Brand Anko Shuts India Operations
Breaking: Australian Homewear Brand Anko Shuts India Operations
 

Australian homeware brand, Anko, which launched its operations in the Indian market around early 2023, is reportedly ceasing its operations in the country, according to sources familiar with the developments. Furthermore, the Anko India website has listed all its products as 'out of stock'. 

Anko India, owned by Wesfarmers Ltd, one of Australia’s leading publicly listed companies and the parent company of the department store Kmart, entered India in June 2023. Anko is renowned for its home and kitchenware, small furniture products, and toys. The Anko brand was established in 2017 and is stocked in Kmart Australia. Its global headquarters is in Australia, with offices in China and India, and vendor partners across Asia.

Recently, Australia’s Kmart Group, the parent company of low-price department stores Kmart and Target, reported a revenue increase of 4.8 percent to $5.9 billion for the first half of FY24. The growth was primarily driven by Kmart, which saw a 7.8 percent increase in sales, while Target experienced a 5.1 percent decline compared to the first half of FY23.

Anko in India had planned a digital-first entry via D2C channels and was also present on select online marketplaces. Anko had also partnered with e-commerce giants such as Flipkart and Myntra. Pulkit Bansal was appointed as the Country Head of Anko India. Bansal previously held significant leadership roles with leading brands such as Ola Cabs, Flipkart, and ITC Ltd., focusing on creating sustainable and long-term business growth.

IndianRetailer.com reached out to Pulkit Bansal, the Country Head of Anko India, for comment, but he declined to disclose any details regarding the development.

(This story will be updated if Anko India shares a statement to our query)

 

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ASUS India: Pioneering Next-Gen Gaming
ASUS India: Pioneering Next-Gen Gaming
 

Established over three decades ago, ASUS has carved a niche for itself in the global market, with a steadfast commitment to its core value of "In Search of Incredible." ASUS has emerged as a pioneering force in the ever-evolving landscape of technology, consistently pushing boundaries and redefining the standards of innovation. In 2006, ASUS set foot in the vast expanse of the Indian market, recognizing its immense potential and the diverse needs of its burgeoning population.

Arnold Su, Vice President of ASUS India, sheds light on the brand's journey and its core ethos. "Our core value is in search of incredible," Su states. "We want to make sure ASUS will be able to meet the Indian customer's requirement." Since its inception in India, ASUS has undergone a remarkable transformation, evolving from a traditional approach to sales to a dynamic ecosystem that prioritizes customer experience..

Adapting to the Indian Consumer

ASUS's journey in India has been characterized by a deep understanding of the Indian consumer psyche and a commitment to tailor-made solutions. Su explains, "From 2006, we tried to open different types of stores, but today it is a totally different scenario." ASUS's strategy has shifted towards immersive experiences, with dedicated gaming stores where customers can not only see but also experience products firsthand.

Speaking about ASUS's adaptability to the Indian market, Su emphasizes, "We have learned from Indian customers that if your products have a unique selling point of your products, customers are ready to pay for it." This adaptability has led to the successful launch of products like the Zenbook Duo and ROG G14, catering to the diverse needs of Indian consumers.

Making Technology Accessible

At the heart of ASUS's success lies its commitment to bringing cutting-edge technology to the masses. Su elaborates on ASUS's ethos, stating, "Technology should be affordable to every customer." ASUS's groundbreaking initiatives, such as launching the first OLED laptop in the sub-50k segment, have democratized access to premium technology, making it accessible to a wider audience.

In a testament to its success, ASUS has emerged as a dominant player in the Indian market. Su proudly declares, "Last year in 2023, ASUS reached the number two consumer notebook brand in India." Furthermore, ASUS holds the distinction of being the number one gaming brand in India, showcasing its prowess in the burgeoning gaming sector.

ASUS

Embracing Online Channels

In an era dominated by digital transformation, ASUS recognizes the importance of online channels in driving growth. Su acknowledges the rise of online platforms, stating, "During the covid period, offline ratio dropped to around 50-55 percent while online increased to 40-45 percent. However, post the pandemic offline gradually. Today our online to offline sales is around 30:70." ASUS remains committed to providing a seamless omnichannel experience, allowing customers to make informed decisions whether online or offline.

With a diverse product portfolio ranging from Rs 20,000 to Rs 4.5 lakh, ASUS caters to a broad spectrum of consumers. Su highlights ASUS's engagement with young customers, stating, "64 percent of ASUS customer is in the age group of 18 to 24." However, ASUS strives to engage with consumers across all age segments, ensuring inclusivity and accessibility.

In addition to gaming, ASUS is pioneering the creator segment, catering to the burgeoning community of content creators. Su underscores ASUS's commitment to differentiation, stating, "For gamers, they care about the response time, but for content creators, they care about color accuracy." By addressing the distinct needs of creators, ASUS aims to empower individuals to unleash their creative potential.

Pioneering the Future

As technology continues to evolve, ASUS remains at the forefront of innovation. Su hints at future endeavors, stating, "This year, the hottest topic is AI PC." With a focus on emerging trends like AI and gaming, ASUS is poised to revolutionize the tech landscape, offering groundbreaking solutions to meet the evolving needs of consumers.

Looking towards the future, ASUS envisions itself as the undisputed leader in the Indian market. Su articulates, "Our goal is to be the number one brand in India." With a focus on enhancing customer experience and expanding retail presence, ASUS aims to cement its position as a trusted brand among Indian consumers.

Thus, ASUS's journey in India exemplifies a remarkable blend of technological innovation, adaptability, and customer-centricity. As ASUS continues to push boundaries and redefine standards, it remains poised to shape the future of technology in India and beyond.

 

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The Inclusivity Revolution in Regular Merchandise Retail
The Inclusivity Revolution in Regular Merchandise Retail
 

In the ever-evolving world of fashion where discussions are of late dominated by topics surrounding sustainability, traceability, and gender neutrality, one paradigm stands out as a catalyst for transformative change: inclusivity. The concept of inclusive fashion transcends the traditional boundaries of the industry, aiming to embrace individuals of all abilities and disabilities. It strives to ensure that every person feels not just acknowledged but genuinely valued within the diverse tapestry of global fashion.

As a powerful global language, fashion speaks to individuals of varying statures, races, and ages. It goes beyond mere clothing, becoming a profound expression for those who find their voice through style. In a world where words may fall short, fashion emerges as a megaphone, amplifying the diverse narratives of its wearers. The evolution of fashion has been monumental, marked by a profound impact and a compelling need for change.

Today, with the inclusivity revolution, fashion not only reflects the beauty of diversity but also transforms into a platform where everyone, regardless of color, gender, ability, or medical condition, can find their place and flourish. In this article, we will explore how inclusivity has paved the way for the concept of “fashion for all” and how it stretches beyond being a mere trend.

The Dynamic World of Fashion and the Tectonic Shift

The fashion industry is undeniably diverse, competitive, and constantly evolving to meet the ever-changing demands of the modern consumer. The significance of personalization in the apparel manufacturing process has become paramount, with consumers seeking brands that offer well-fitting garments. The fashion business has expanded to support various industries, including design, graphic design, communication, marketing, logistics, and media. It upholds values of quality, integrity, and individuality, with personal expression and individualism being key aspects of one's fashion choices. As society moves towards slow and sustainable fashion, prioritizing environmental considerations, the industry is poised for a transformative shift.

Embracing Change

In recent years, conversations surrounding the fashion industry’s impact on the environment have picked up steam. Conscious consumers are increasingly leaning towards using sustainable, natural fabrics that won’t harm the planet. They are opting to practice slow fashion with an emphasis on mindful consumption. Brands, too, are leaving no stone unturned to cater to today’s environmentally-conscious consumers, by offering apparel made out of natural fabrics at affordable pricing. Together, they can create a significant impact and contribute to a more sustainable world.

Adaptive Clothing: Inclusivity for All

In a bid to integrate individuals with disabilities and the elderly into society, the fashion industry has taken notable strides by introducing 'adaptive clothing.' These specially designed garments address mobility issues, sensory impairments, and disabilities, providing a more comfortable, dignified, and accessible dressing experience for those facing challenges with traditional clothing.

Adaptive clothing incorporates various design elements to enhance functionality, catering to the specific needs of individuals. Features such as Velcro closures, hooks instead of buttons, easy-pull zippers, side zippers on trousers, open-back tops, elasticated waistlines, and magnetic shoe fastenings are integrated to offer comfort and ease of use. These design innovations empower people with disabilities (PwDs) to dress comfortably while maintaining their dignity and feeling at ease in their skin.

The global market for adaptive clothing is steadily growing and was valued at approximately $13.6 billion in 2022, according to the Adaptive Clothing Market Analysis Survey 2023. This market is projected to experience significant growth, with a Compound Annual Growth Rate (CAGR) of around 5 percent expected by 2030. As consumers increasingly prioritize brands that promote confidence through their clothing, apparel companies are motivated to develop adaptive designs that empower people with disabilities. Prominent fashion houses are finally recognizing and embracing this inclusivity trend, marking a positive step towards a more diverse and accessible fashion landscape.

Bottomline

Inclusivity in fashion is no longer an option; rather, it’s the way to go for brands to stay afloat in the market. Simply put, the world of retail merchandise will be marked by the game-changer, that is inclusive fashion.

 

About the Author

Rohit Agarwal, Director, Citykart

Rohit Agarwal, Director, Citykart 

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Nykaa CEO Falguni Nayar Champions Empathetic Omnichannel Strategy
Nykaa CEO Falguni Nayar Champions Empathetic Omnichannel Strategy
 

The omnichannel strategy transcends conventional business tactics; it embodies a philosophy rooted in empathy and consumer understanding, aiming to surpass expectations and foster enduring loyalty. “It is about meeting the consumer where they are and anticipating their needs and exceeding the expectation at every turn. It is about building and fostering loyalty, and forging lasting connections and extending far beyond the transactions.” With these poignant words, Falguni Nayar, Executive Chairperson, Founder and CEO, Nykaa delivered an enlightening address at the recently concluded Startup Mahakumbh 2024.

Key Takeaways from her address:

  1. Entrepreneurship in the Indian Economy

India stood at the brink of a new economic era, characterized by innovation and entrepreneurship. Nayar highlighted the nation's burgeoning startup ecosystem, which offered abundant opportunities for creative solutions to real-time problems.

“There's a significant redistribution of households across income levels. The low income households are expected to shrink by 6 percent by 2030. The forecast is that the increase in upper income households will increase from 33 percent to 46 percent of all households. With the changes in the workforce, more Gen Z and women entering the workforce, the total number of households is increasing to almost 35 points up the ladder. And we are expecting 25 percent growth in consumption over the next eight years due to heightened rural consumption trends in premiumization and increasing income levels and an expected 90 percent plus penetration in smartphones.”

  1. India’s Consumption Story on Beauty

Nayar drew parallels between India and China's consumption trends, foreseeing significant growth in per capita spending on beauty and personal care products. “Given the S curve of expected increase in per capita income from $2500 today to $5500 by 2030 - similar to China’s trends, we anticipate the BPC per capita spend to go from $15 today to $50 by 2030. The $21 billion BPC industry is set to become $30 billion over the next few years showing a remarkable potential driven by online retail growing at 27 percent to 29 percent CAGR.”

Notably, she cited Kay Beauty as a prime example of Nykaa's success in resonating with consumers through premium-quality offerings and inclusive branding. “The brand's positioning is rooted in building a holistic beauty community that is inclusive for all gender, skin tone, and skin types of all ages. We have seen the consumer love with over 1.5 million customers who have tried Kay Beauty with the Kay community on Instagram being 1.4 million strong. The brand is expected to grow at 62 percent after a robust year of expanding.”

  1. India’s Consumption Story on Fashion

India's per capita fashion spending was expected to rise substantially by 2030, driven by increasing GDP per capita. Nayar predicted a significant shift towards online purchases in categories like fashion, indicating a promising future for D2C brands.

“Currently, India’s per capita fashion spend is approximately $54. As the GDP per capita increases to $5500 by 2030, we are expecting this to grow to $160 per capita. We are slowly seeing consumer behavior shift towards this expectation. After electronics, fashion is the second largest category purchased online. By 2027, it is expected that fashion, grocery and general merchandise will capture two-thirds of the ecommerce market - showing large potential and room to grow. The offline organized and unorganized markets are no laggards, both growing at CAGR of 13 percent and 7 percent, respectively.”

  1. D2C Brands and the Evolving Consumer Behavior

Nayar underscored the importance of understanding evolving consumer preferences in the digital age. She noted the emergence of D2C brands, particularly in fashion and beauty, leveraging agility to address consumer needs effectively.

“In today’s phygital world - understanding consumer patterns, behaviours and preferences is paramount in order to solve consumer concerns. When you peel back the onion on why consumers shop across ecommerce marketplaces & quick commerce vs offline stores - their motivations become clear. D2C brands have the advantage of being quick-to-market and agile to adapt to changing trends – all while solving real consumer problems. Of the new D2C brands over the last few years - 44 percent have emerged in fashion & beauty. “

  1. Going Global

Through a strategic alliance with Apparel Group, Nykaa introduced Nysaa, a multi-brand specialty omnichannel retail concept in Dubai. Nayar sees this venture as an opportunity to revolutionize the beauty shopping experience in the Gulf Cooperation Council (GCC) region, leveraging Nykaa's online-first approach to cater to diverse consumer needs.

“We have launched Nysaa, a multi-brand specialty omnichannel beauty retail concept in Dubai this month with a 56 million population, 54 percent of which is under the age of 25 GCC is at an interesting juncture. Nysaa launched its first store and is looking to expand to 70 stores over the next five years. With over 150 brands offered, omnichannel Nyssa is set to uniquely change the way consumer and GCC experience beauty to deliver a unparalleled trend led engaging shopping experience.”

 

 

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India's Retail Market: A Path to $2 Trillion
India's Retail Market: A Path to $2 Trillion
 

India's retail sector is on the brink of transformative growth, with projections indicating a substantial leap to $2 trillion within the next decade, as per a report jointly conducted by the Boston Consulting Group (BCG) and the Retailers Association of India (RAI). This forecast marks a remarkable surge from the $820 billion valuation recorded in 2023.

Changing Consumer Behavior

The report attributes this growth to a paradigm shift in consumer behavior, where preferences are tilting towards experiential consumption such as travel and entertainment, over traditional product purchases. This shift has notably influenced expenditure patterns over the past two years, prompting a reevaluation of consumer spending habits.

Organized Retail's Resilience

Despite encountering short-term challenges, including a recent dip in year-on-year growth and subdued performance by some large retailers, the organized retail market in India has exhibited consistent growth against the backdrop of broader economic dynamics. BCG notes that profitability has generally remained consistent and aligned with global peers.

Rapid Expansion and Market Dynamics

Since 2010, India's retail sector has experienced exponential growth, surging over 200 percent from a $250 billion valuation. This growth has been fueled by a burgeoning middle class and the entry of major international fashion and food chains. Looking ahead, the market is poised to maintain a steady growth rate of 9-10 percent over the next decade.

Key Strategies for Retail Success

Refining Delivery Models and Harnessing Technology

Success in the retail sector, according to Namit Puri, Managing Director and Senior Partner at BCG, hinges on retailers' ability to refine their delivery models, leverage artificial intelligence (AI) and analytics, and implement aggressive cost management strategies. Adapting to evolving consumer preferences and technological advancements is imperative for sustained growth.

Consumption Trends and Investment Behavior

BCG's report tracks consumption trends across various categories, revealing a faster growth rate for services compared to goods. Additionally, there has been a notable increase in savings and investments among households, with a significant rise in demat accounts and health insurance penetration. Retailers need to align their strategies with these shifting patterns to capitalize on emerging opportunities.

Shift Towards Premium Goods and Urban Consumption

Consumers are increasingly trading up to premium products, driving demand for luxury goods across various categories. Elite households, with annual incomes exceeding Rs 20 lakh, are significantly contributing to this trend, particularly in segments such as cosmetics, electronics, and leisure travel. Furthermore, store expansion is expected to continue, fueled by urbanization and rising consumption across cities of all tiers.

In conclusion, India's retail sector stands at a critical juncture, poised for substantial growth driven by evolving consumer preferences, technological advancements, and demographic shifts. Retailers must adapt swiftly, leveraging innovation and strategic insights to capture the vast opportunities presented by this dynamic market landscape.

 

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The Future is Female: Trends and Opportunities for Women Entrepreneurs in the Global Marketplace
The Future is Female: Trends and Opportunities for Women Entrepreneurs in the Global Marketplace
 

We're witnessing a tidal wave of women taking charge, shattering the glass ceiling, and building empires in the world of entrepreneurship. Forget the days when women were expected to be confined to the home front. Now, we're owning our power, showcasing our talents, and reshaping the business landscape, one move at a time.

The rise of female entrepreneurs is reshaping the narrative of business ownership, inspiring others, and creating employment opportunities not just across the country but also globally. In the Indian context, however, let's be real, it's not always sunshine and rainbows. There are still barriers to break, biases to challenge and patriarchy to persist. Future generations must be educated on dismantling these cultural barriers and creating a more inclusive environment.

Overcoming Obstacles

Despite progress, women entrepreneurs encounter societal biases and gender stereotypes holding back their growth. Most of the women entrepreneurs face more challenges in accessing finance and markets than their male counterparts. In India, gender gaps persist in the finance sector, with a limited percentage of female founders receiving business funding. These challenges are fuel, they flare up our resilience, our creativity, and our determination to make a path for ourselves and break those stereotypes. We're finding innovative solutions, building supportive communities, and proving that we can not only survive but thrive in this dynamic world.

Leveraging India's Rich Heritage

India, with its lively culture and long history of traditional crafts, is a great example of how women's businesses can be successful globally. Women are using age-old skills and wisdom for beauty, handicrafts, and more to create products that have an international appeal and authenticity that’s being appreciated appeal all over the world. This motivates women business owners to make a real difference by keeping traditional ways and simplicity alive and making them fit the needs of the global market. They are very entrepreneurial, which not only keeps cultural traditions alive but also brings them to the attention of people around the world, showing off the abundance and diversity of India's rich culture and traditions.

Globalization Opens Doors for Women-led Businesses

Globalization has changed things, and women in different parts of the world are being affected by it in different ways. Women have been able to take the lead in making economic and social changes because of it. The socioeconomic position of women is changing, even if it takes a while. This is happening because of better global information networks and more exposure between cultures.

As globalization moves forward, it has broken down geographical barriers, making way for a huge market. This change opens up a huge range of opportunities for women businesses to show off their unique goods and services to people all over the world. In the global business world, this number shows that women entrepreneurs have a lot of economic power and potential. It appears not only how well they can do in the global market, but also how important they are to shaping the future of the world economy.

The Digital Advantage

The ascent of digital platforms has reshaped the business landscape, offering women entrepreneurs cost-effective and accessible tools to navigate the global market. E-commerce platforms, coupled with social media marketing and online marketplaces, empower women to connect with new customers beyond traditional brick-and-mortar limitations.

Digital Financial Services further streamline challenges for women entrepreneurs, encompassing payments, credit, savings, remittances, and insurance. Online crowdfunding platforms enable women to raise funds globally, while a growing number of venture capitalists and angel investors actively seek out women-led businesses. This evolving landscape not only facilitates financial access but also cultivates a supportive environment, marking a transformative shift in the game for women entrepreneurs in the digital age.

Collaboration is Key

In today's globally interconnected business landscape, collaboration stands as the backbone for success. Women entrepreneurs are increasingly acknowledging the advantages of forging partnerships and alliances with other businesses, whether on a domestic or international scale. These collaborations serve as channels for knowledge sharing and resource pooling, creating a collective approach that not only unlocks new market opportunities but also broadens reach. A recent study on trends reveals that women entrepreneurs consider collaboration essential for business growth. This highlights the transformative impact of collective action, showcasing the role collaboration plays in leading businesses to another level.

Embracing Diversity for Global Expansion

Globalization has changed things for women all over the world. As women business owners move into global markets, it's important to understand and adapt to the subtleness of different cultures. This includes understanding and respecting the people, places, and ways of communicating.

The future of entrepreneurship is female. Women business owners are changing the world. They're not only building great businesses by getting through past problems, breaking down barriers, and embracing diversity, but they're also making the future more open for everyone. This has also given women a chance to lead the way in making economic and social changes. A woman’s position is changing, even if it takes a while. By overcoming obstacles they're not just building successful businesses but also creating a more inclusive future for all.

 

Authored By

Aashka Goradia Goble, Co-Founder & CMO, Renee Cosmetics

Aashka Goradia Goble, Co-Founder & CMO, Renee Cosmetics

 

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Innovational Agility Unleashed: The Mattress Industry's Tech-Infused Future
Innovational Agility Unleashed: The Mattress Industry's Tech-Infused Future
 

In this dynamic retail vista where technological advancements continue to shape and reshape consumer experiences, the $212 million-strong Indian mattress industry is undergoing a major transformative revolution. The deployment of new-age technologies is redefining hygiene and comfort standards as the latest technologies like antimicrobial fabrics, temperature-regulating technologies, and smart foams are seamlessly integrated into mattress design. As customers increasingly prioritize health and comfort, the marriage of innovation and customer-centricity is setting a new industry benchmark - the rise of sleep tech.      

Now the essential question emerges, what global chain of events led to the emergence of sleep, in the first place? Apart from the changing consumer preferences that prioritize the need for a good night’s sleep, there are economic factors too that have orchestrated the rise of sleep technology. Insufficient or poor-quality sleep has been well-documented to result in a measurable decline in work productivity. A study examining the economies of five different countries revealed an annual loss of a staggering  $680 billion due to employees experiencing inadequate sleep. Lack of sufficient sleep in the United States alone leads to a business cost of up to $433 billion. These are just a handful of factors that have contributed to the swift growth of the global sleep-tech industry.

Closer to home, the Indian mattress sector also continues to transform at a rapid pace. Industry players must exhibit innovation and agility to keep up with the ever-turning tides. As we step into 2024, home-grown sleep tech companies need to acknowledge the changing rules of the game.  This has been the new norm for some time now and this year will be no different for the mattress industry. As one of the country’s fastest-growing markets, the sector also offers a rich array of prospects for investors across India and the globe.

Elevating Hygiene and Comfort

The convergence of technology and mattress design has introduced several advanced features, ensuring a clean and comfortable rest. Anti-microbial fabrics are mitigating hygiene concerns while temperature-regulating technologies and smart foams enhance overall sleep quality. This technological revolution has propelled the mattress industry beyond traditional norms.

Customer-Centric Innovation Unleashed

In the current era where customer preferences steer industry landscapes, mattress brands are adopting a customer-centric approach to innovation. It's not just about creating mattresses; it's about understanding and addressing unique consumer needs. From personalized sleep diagnostics to customizable mattress configurations, brands are ushering in a new era of customer-centric solutions, prioritizing comfort, health, and satisfaction.

Innovations in SleepTech and Holistic Solutions

The fusion of technology and sleep innovation has introduced an exciting era of sleep tech. Mattress brands are now incorporating state-of-the-art sleep monitoring devices, smart sensors analyzing sleep patterns, and adjustable firmness settings based on individual preferences. SleepTech is not just limited to creating comfortable mattresses; it also entails providing holistic solutions that contribute to overall consumer well-being. With innovations like adjustable bases, smart integrations, and sleep-enhancing materials, the mattress industry is leading in sleep innovation.

Merging Innovations: SleepTech Meets Retail Revolution in 2024

As the mattress industry continues to evolve, industry players continue to embrace the tenets of Innovation & Agility and leverage technological advancements to meet diverse consumer preferences. This convergence of sleep tech and retail tech is slated to unfold a new era of exciting possibilities.

Let's look at some of these trends in greater detail:

  • Generative AI to enhance retail productivity and profitability

In 2022, the attention towards Generative AI was noteworthy, but its application in the mattress industry remained limited. Fast forward to the present, and the mattress sector is wholeheartedly embracing the transformative capabilities of Generative AI. Projections indicate an estimated investment exceeding $32 billion by 2028, with mattress brands seamlessly integrating Generative AI across various operations. From refining cataloging and product descriptions to acting as virtual customer assistants, Generative AI is proving indispensable. Mattress brands utilize it as a personalized guide, while the industry benefits from precise demand forecasting, reducing wastage, and automating inventory management.

  • The Rise of Experiential Retail

Similar to the retail landscape, the burgeoning mattress and sleep-tech industry in India is witnessing an increased demand for seamless innovations. AI-powered solutions, such as chatbots, have become integral to the online mattress shopping experience. These intelligent systems assist customers during the checkout process, addressing queries, and providing personalized recommendations. QR codes for instant payments, along with emerging technologies like fingerprint and facial recognition, are enhancing the security and convenience of online transactions. Looking ahead to 2024, there will be a heightened emphasis on experiential payments through self-service options. Self-checkout machines, equipped with improved network connectivity, digital wallet compatibility, and user-friendly displays, are anticipated to expedite transactions. As technology evolves, the mattress and sleep-tech industry is poised for more innovative solutions, promising to enhance the overall online mattress shopping experience.

  • Upholding Global Standards and Adaptive Excellence

Leading mattress brands are maintaining consistent and top-notch quality across their product lines, adhering to stringent global standards. The commitment to excellence has extended to the adaptability of production processes, ensuring every mattress meets the same high-quality benchmark worldwide. This dedication not only speaks to the brand's commitment to quality but also guarantees customers superior comfort and hygiene, regardless of their location. A number of leading mattress brands are vying to receive universally recognized certifications for developing high-quality products and complying with leading global regulatory agencies like Certi-PUR.   As the statutory, non-profit body responsible for testing and analyzing the environment, health, and safety properties of polyurethane foam used in bedding and upholstered furniture applications, CertiPUR-US certified products are made exclusively using environmentally safe chemicals and free from ozone depletors and chlorofluorocarbons (CFCs).

  • Industrial Internet of Things (IIoT) to Revolutionise Supply Chains

In line with the retail industry's adoption of the Industrial Internet of Things (IIoT) for streamlined supply chains, the mattress and SleepTech sectors in India are experiencing a transformative shift. Recent reports emphasize the significance of separating global supply chains to address geopolitical impacts on businesses. The mattress industry, adapting to this changed scenario, is recognizing the flexibility and responsiveness of IIoT solutions. An automated supply chain, powered by IIoT, enables businesses to swiftly address unforeseen issues. This involves leveraging interconnected sensors and devices that operate independently, significantly enhancing tracking and monitoring accuracy throughout the mattress production cycle – from raw material procurement and manufacturing to quality assurance and order fulfillment. The logical next step for Indian mattress brands is the full-scale adoption of IIoT technologies, enhancing not only the in-store mattress experience but also automating the mattress supply chain for increased overall productivity and efficiency.

  • Scope for Edge Computing to Enhance Real-time Store Management

Similar to its application in retail, the mattress and SleepTech industry is actively exploring edge computing solutions integrated with cloud-based databases. This approach provides mattress store managers with real-time data on customer density, facilitating efficient crowd and staff management. Additionally, the use of edge computing streamlines the integration of sleep technologies like digital signage and interactive content without compromising processing capabilities. The result is a more responsive and streamlined mattress retail environment, promising an enhanced shopping experience for customers.

Looking Ahead

As we step into 2024, the mattress and SleepTech industry finds itself on the brink of transformation, driven by relentless innovation and technological advancements. The focus on optimizing cutting-edge technology was unmistakable in 2023, and now, as we navigate through the New Year, this sector is undergoing a profound shift. Companies are wholeheartedly embracing the latest technological capabilities to cater to the diverse preferences of consumers. The unfolding innovations in SleepTech and mattress design are occurring at an accelerated pace, poised to redefine customer experiences. With unparalleled agility and foresight, the Indian mattress and SleepTech industry is navigating through this evolving landscape, promising a future of unprecedented comfort and innovation for every individual's sleep journey.

Authored By

. Uttam Malani, Executive Director, Centuary Mattress

Uttam Malani, Executive Director, Centuary Mattress

 

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How Indian Brands Like Malabar Gold & Diamonds Are Shaping Global Trends
How Indian Brands Like Malabar Gold & Diamonds Are Shaping Global Trends
 

In recent years, India has emerged as a significant player in the global luxury goods market, harnessing its technological prowess and embracing sustainability initiatives. , India made significant contributions to the global luxury industry, which surged to $347 billion in FY2022, the country's vibrant culture, coupled with its technological advancements, has propelled it into the limelight of luxury retail, reshaping the industry landscape and driving unprecedented growth.

Tech-Driven Transformation

India's journey into the global luxury arena is marked by a strategic integration of technology, particularly GenAI, which has revolutionized personalized customer experiences and real-time support. Anand Ramanathan, Partner at Deloitte India, emphasizes the pivotal role of digital technologies in advancing green initiatives within the luxury sector. He states, "Luxury brands are swiftly embracing environmentally responsible, circular economy models driven by evolving consumer preferences and regulatory mandates."

Rising Stars in Indian Luxury

The Indian luxury goods market has witnessed a paradigm shift, with traditional gold retailers making way for modern retail chains adorned with renowned luxury brands. According to Deloitte's Global Powers of Luxury Goods report, six Indian luxury companies have made it to the top 100 global luxury goods companies, showcasing a remarkable sales growth of over 20 percent in FY2022, and contributing to the industry’s 32.8 percent composite growth.

Among these rising stars are Malabar Gold & Diamonds, Senco Gold Limited, and Thangamayil Jewellery Limited, alongside established players like Titan Company Limited, Kalyan Jewellers India Limited, and Joyalukkas India Limited. This surge in growth underscores India's pivotal role in shaping the future of luxury retail, fueled by a burgeoning middle-class segment and increased discretionary spending.

Sustainability Takes Center Stage

In line with global trends, luxury brands in India are championing sustainability initiatives, with a particular emphasis on circularity and environmental consciousness. Evan Sheehan, Global Consumer Products and Retail Sector Leader at Deloitte highlights the industry's commitment to sustainability, stating, "As the luxury sector continues its upward trajectory, companies are increasingly adopting circular economic principles and stepping up their sustainability efforts."

This shift towards sustainable practices is not only driven by consumer demand but also influenced by regulatory mandates and reporting standards. Luxury companies are setting ambitious net-zero targets and prioritizing supply chain traceability to ensure responsible production practices and enhance accountability.

Impact on Consumer Behavior

The evolving landscape of the luxury goods market in India is reshaping consumer behavior and preferences. With a growing awareness of environmental, social, and governance (ESG) issues, consumers are becoming more discerning in their purchasing decisions, favoring brands that align with their values.

The intersection of technology and sustainability has created a unique opportunity for luxury brands to forge stronger connections with consumers, fostering trust and loyalty. By leveraging digital technologies to enhance transparency and sustainability, luxury companies can cater to the evolving demands of Indian consumers while driving positive social and environmental impact.

The Road Ahead

As India's luxury market continues to evolve, the convergence of technology and sustainability will remain central to its growth trajectory. With an increasingly affluent middle class and a rising demand for luxury goods, India is poised to play a significant role in shaping the future of the global luxury retail landscape.

By embracing innovation and sustainability, Indian luxury brands have the opportunity to carve out a distinct identity on the global stage while contributing to a more sustainable and responsible future. As Anand Ramanathan aptly puts it, "We anticipate these innovations to revolutionize the luxury market, globally, further cementing India's position as a key player in the luxury retail sector."

 

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From 3 to 4 Billion Euros! Mango's 4E Plan Revealed!
From 3 to 4 Billion Euros! Mango's 4E Plan Revealed!
 

Mango marked the culmination of 2023 with historic achievements, boasting a record-breaking turnover surpassing 3 billion euros for the first time. The company's distinctive value proposition fueled this success, propelling its turnover to 3.104 billion euros, a remarkable 15 percent increase compared to 2022. Adjusted for exchange rates, the growth reached an impressive 20 percent. Celebrating its 40th anniversary in 2024, Mango is now embarking on a new era of expansion, unveiling the ambitious 2024-2026 strategic plan, aptly named the 4E Plan.

Toni Ruiz, the CEO of Mango, attributes this triumph to the company's ability to thrive in a competitive environment, stating, "Mango has significantly increased its sales, achieving the best results in the company's history, with a turnover above 3 billion euros for the first time. Our clients value and appreciate. The work carried out in recent years is bearing fruit: we are growing above the market, we are profitable and we are financially healthy."

Setting a New Standard

The remarkable surge in turnover in 2023 was coupled with improved profitability, culminating in a net profit of 172.1 million euros, more than doubling the figures from 2022. Gross operating profit (EBITDA) reached 533 million euros in 2023, representing a significant 22.2 percent increase compared to the previous year.

The brand’s commitment to enhancing its value proposition across all lines, providing greater customization and reinforcing customer service, has been pivotal to its extraordinary growth. With a substantial investment of 187 million euros, the company has fortified its position, focusing on facilities, stores, logistics, and technology. Ending the year with no net debt, Mango has showcased its robust financial standing.

The company's expansive efforts in 2023 included over 130 net store openings and 80 refurbishments, solidifying its commitment to the physical channel. The physical chain turnover surpassed 2 billion euros for the first time, while the online channel also reached a significant milestone, exceeding 1 billion euros in turnover, constituting 33 percent of the group's total turnover.

Internationally, Mango's business accounted for 77 percent of total turnover in 2023, with notable success in countries such as Spain, France, Germany, Turkey, and the United States, the latter entering the top 5 markets in terms of turnover just one year after the Fifth Avenue store opening.

By business lines, Men, Kids, and Teens experienced robust growth, with the Men's line contributing 11 percent to total turnover, and Kids and Teens accounting for 8 percent. The Women's line, remaining the driving force, surpassed 2.5 billion euros in turnover for the first time in 2023, reflecting a 15 percent increase from 2022.

Strategic 4E Plan 2024-26

Mango’s 4E Plan, a strategic roadmap to achieve a turnover of over 4 billion euros by 2026, has four pillars - Elevate, Expand, Earn, and Empower. It focuses on enhancing the brand's value, expanding its physical presence, ensuring sustainable growth, and empowering its workforce, respectively.

Ruiz emphasizes, "The new 4E Plan will help us strengthen our relationship with our customers, consolidate our business model, and create value in a sustained manner, reinforcing us as a reference company in the sector."

"Elevate" emphasizes the reinforcement of Mango's differentiated value proposition through aspiration, quality, unique style, excellent customer service, and sustainability.

"Expand" targets the growth of Mango's stores, aiming for 500 new openings by 2026, primarily in strategic markets such as Spain, France, Italy, Germany, the United Kingdom, Poland, India, Canada, and the United States.

"Earn" prioritizes sustainable growth, focusing on improving sales in existing stores and the online channel, leveraging technology, data management, artificial intelligence, and operational excellence.

"Empower" underscores the importance of Mango's employees, aiming to develop and empower its workforce of more than 15,500 employees, fostering a sense of pride and belonging.

Ruiz concluded, "The excellent results achieved in 2023 are the result of the enormous effort, commitment, and dedication of the people who work in Mango. Our enthusiasm and passion will be fundamental to achieving the new objectives that we set for ourselves today in the 4E Plan."

Strengthening Governance

In line with Mango's new era of growth, the company bolstered its corporate governance on March 1, 2024, with the addition of four independent directors of significant prestige. The Board of Directors now consists of nine members, including Isak Andic as Non-executive Chairman, Toni Ruiz as CEO, and four independent Directors, ensuring a robust governance structure to guide Mango into its promising future.

 

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High Streets Lead: Luxury Brands See 100 pc YoY Growth in 2023 Leasing
High Streets Lead: Luxury Brands See 100 pc YoY Growth in 2023 Leasing
 

High streets have retained their status as the prime choice for luxury brands in India's top eight cities during 2023. Notably, luxury brands leased 0.3 million square feet of space in high street store formats, marking an impressive 100 percent year-on-year increase. Leasing in luxury mall stores also surged by over 300 percent, totaling 0.24 million square feet. Standalone stores witnessed a similar trend with a 200 percent year-on-year increase in leasing, amounting to 0.1 million square feet. Overall, luxury retail leasing reached 0.6 million square feet in 2023, depicting a substantial 170 percent year-on-year growth. High streets accounted for 45 percent of the total luxury retail leasing, followed by malls at 40 percent, and standalone stores at 15 percent.

In the joint report 'The Ascent of Indian Luxe RE', CBRE South Asia Pvt. Ltd. and the Ph.D. Chamber of Commerce & Industry dissect the trends in luxury retail leasing across diverse formats from 2022 to 2023.

Expansion and Market Dynamics

The surge in leasing activity is paralleled by the entry and expansion of various international luxury fashion, watch, and jewelry brands across different locations. Notably, specific malls and high streets are tailored exclusively to cater to the discerning luxury clientele, offering a curated collection of high-end brands in an environment aligned with the expectations of luxury shoppers.

Flagship Experience and Consumer Engagement

The flagship experience remains a pivotal factor in physical retail across all touchpoints, particularly for luxury brands. It presents a unique opportunity for brands to showcase their essence, values, and unique attributes, thereby fostering deeper engagement with customers. Luxury brands leverage flagship stores to create immersive environments that resonate with consumers on a profound level.

Factors Driving the Surge in Luxury Retail

The surge in luxury retail is fueled by a growing middle and upper class in India, coupled with rising disposable incomes. This demographic shift is poised to reshape the retail landscape, positioning India as a crucial hub for global luxury brands. Furthermore, a confluence of factors such as a desire for sophisticated lifestyles and the enduring influence of cultural heritage propel the luxury retail sector forward. The omnipresence of the internet and social media has heightened awareness of luxury brands among consumers, amplifying their appeal.

Expansion Strategies and Market Reach

Established luxury brands in India are actively seeking expansion opportunities in metro cities and pursuing larger space take-ups in existing locations to meet the growing demand. Affluent consumers from Tier II cities often travel to metro cities to fulfill their luxury shopping needs, prompting luxury brands to adopt aggressive expansion strategies by venturing into cities beyond the top-tier metros.

The Changing Luxury Retail Landscape

The luxury retail landscape in India is rapidly evolving, driven by burgeoning consumer wealth and a strong affinity for high-end brands. Notably, Delhi-NCR boasts the highest concentration of international luxury brands, while Mumbai attracts luxury shoppers from Gujarat and Maharashtra. Bangalore effectively caters to the luxury needs of major cities in the surrounding region, while Hyderabad presents significant opportunities for luxury brands.

Industry Insights and Projections

Industry leaders, including Anshuman Magazine, Bimal Sharma, and Sanjeev Agrawal, acknowledge India's growing reputation as a sought-after tourist destination and its increasing international exposure, significantly influencing the demand for luxury retail. They project a positive momentum in the luxury retail sector, with luxury brands aggressively pursuing new avenues to attract both seasoned and aspiring luxury consumers.

To Sum Up

The luxury retail sector in India is experiencing a transformative phase, driven by evolving consumer dynamics and market forces. As luxury brands recalibrate their strategies and expand their physical presence to capture a larger market share, India is poised to emerge as a prominent destination for discerning consumers seeking exclusivity and sophistication in their shopping experiences. With the evolution of luxury retail, promising opportunities await both brands and consumers in the dynamic Indian market landscape.

 

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The Retail Market Growth Expected to Continue at 9-10% over the Next Decade
The Retail Market Growth Expected to Continue at 9-10% over the Next Decade
 

India continues to be a bright spot among the major economies – growing fastest among the top 5 global economies and is expected to become 3rd largest by GDP in 2030. India's retail market is expected to reach $2Tn in the next 10 years and presents a large opportunity for retailers.

The Boston Consulting Group (BCG) presented a groundbreaking report titled “Unlocking the $2 Trillion Retail Opportunity in the Next Decade: An Activist Agenda”. This comprehensive analysis delves deep into recent retail trends, shedding light on pivotal shifts set to redefine the industry's future. As India continues its ascent among global economic powerhouses, boasting a robust 7 percent GDP growth in 2023 and projected to clinch the third position by 2030, the retail sector emerges as a prime arena for transformative growth.

“The Indian retail sector will more than double in size to 2 trillion dollars in the next decade - across categories and formats - and the successful retailers are the ones who continue to challenge the perceived growth profitability trade-off”, stated Abheek Singhi, Managing Director and Senior Partner at BCG.

Organized retail in India has consistently demonstrated faster growth in comparison to the underlying category. However, performance in the recent quarters has been subdued owing to potential headwinds. The drop in the growth rate for organized retailers is higher than that of category. Some large retailers have reported a decline in LFL store growth. Profitability at the same time has remained consistent and in line with global peers.

A Glimpse of the Retail Realm

The report forecasts India's retail market to soar to an unprecedented $2 trillion over the next decade, offering retailers a lucrative playing field. Despite recent quarters witnessing subdued growth rates, organized retail has consistently outpaced its counterparts, showcasing a higher growth trajectory. However, challenges abound, with potential headwinds tempering growth figures. Yet, amidst these challenges, profitability has remained steady, aligning with global benchmarks.

“The retail sector offers very significant opportunity, but at the same time, we see very significant variation in performance across retailers. In the retail sector, opportunity abounds, yet so does a stark divergence in performance outcomes. The key to standing out and achieving success lies in retailers' commitment to sharpening their CVP & the delivery model, leveraging the transformative potential of AI & analytics, and aggressively managing costs” explained Namit Puri, Managing Director and Senior Partner, BCG.

Retail Trends

 Unraveling Growth Dynamics

A meticulous examination of the factors propelling growth reveals intriguing insights. From evolving consumer spending patterns to trends in affluence, urbanization, supply expansion, and channel shifts, the landscape undergoes a significant metamorphosis. As consumer incomes steadily rise, there's a discernible shift towards experiential spending and increased savings. Moreover, the resurgence of store expansions, particularly in Tier I-IV cities, signals a notable consumption shift. Despite the burgeoning e-commerce sector, the net addition of new users has seen a slower pace, necessitating a reevaluation of the online proposition.

According to the projections, India's retail sector is poised for exponential growth, doubling to $2 trillion within the next decade. However, achieving success hinges upon challenging conventional growth-profitability trade-offs. Insights gleaned from industry leaders underscore the importance of retailers sharpening their value proposition, embracing AI and analytics, and vigilant cost management.

“New-age retailers globally and in India have challenged traditional trade-offs in consumer proposition. This has enabled retailers to provide superior offerings ‘consistently’ and deliver breakthrough LFL growth. Retailers have also leveraged AI and data actively” explained Bharat Mimani, Managing Director and Partner, BCG.

Strategic Imperatives

The report outlines five strategic imperatives essential for retailers to capitalize on the evolving landscape. Leveraging data-driven insights, retailers can innovate business models, optimize digital and AI for personalized customer experiences, enhance value chain efficiencies, forge strategic partnerships, and embrace localization strategies tailored to diverse consumer preferences across India.

Retail Trends

Armed with data-centric insights, retailers are urged to reflect on recent changes in the sector and prioritize key imperatives for sustainable growth. Data-driven success stories from industry peers globally highlight the transformative potential of AI and analytics in driving breakthrough growth.

Navigating the Data-Fueled Future

The retail sector stands at the precipice of unprecedented growth opportunities, driven by data-driven insights. With the right strategies and interventions, retailers can unlock the $2 trillion opportunity over the next decade. The report serves as a data-driven compass, offering invaluable insights and inspiration for retailers to chart their path to success. In an era defined by data, agility, and adaptability are paramount for retailers to thrive amidst evolving consumer trends and market dynamics, paving the way for sustainable growth in the data-fueled retail landscape.

 

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Neo Retailer: The Technology Revolution in Reimagining Retail Space
Neo Retailer: The Technology Revolution in Reimagining Retail Space
 

In recent years, the retail industry has undergone a big change that has been spurred either because of technology or new business strategies. The rise of “neo-retailers” is a holistic approach towards bringing a significant change from old retail practices to dynamic and technology-driven techniques. It is designed to meet the constantly shifting demands of the customer in the dynamic realm of digital interaction where customers can click, swipe and tap with ease. Neo-retailer has the potential to boost economic growth by using data analytics and machine learning tools through integrating innovative technology and future-oriented strategies such as AI, smart sensors, AR, and IoT to enhance operational efficiency. “Neo” means a new or fresh way to give customers a personalized experience instead of rather than following age-old marketing practices. It focuses on being eco-friendly, using the Omni-channel model and flexibility to manage fast changes. The neo-retail is all about ensuring customers' convenience while browsing, and shopping. The integration of neo retailing can help Indian retail businesses grow by making a streamlined and focused path with ‘technology’ being the most important part.

Technology Triumph

To address the demands of the customer in this digital age, it is important to know every customer’s unique interests and needs. Neo-retailers main focus lies on ROME: Recommendations, Offers, Messages, and Experience. To ensure customers discover the product precisely aligned with their tastes, neo-retailers use algorithms and machine learning to generate personalized product Recommendations. Neo-retailers tailor their marketing Messages to resonate well with customers' preferences by crafting targeted campaigns and communication strategies. Customer data helps neo-retailers in delivering customised services from loyalty programs to exclusive Offers. The primary focus of neo-retailers is to provide a personalized Experience, which neo-retailers ensure through customers' digital journey by dynamically adjusting content as per customers’ individual preferences. Customers appreciate being valued and personalisation creates a more engaging and enjoyable shopping journey by increasing relevance and enhancing satisfaction. Many neo-retailers have effectively carried out the personalised experience, setting benchmarks for the industry like Spotify, Amazon, and Netflix. As neo-retailers leverage customer data, the shopping experience will grow as an engaging relationship between customers and brand more than a transaction.

A Forward-thinking Approach to Dynamic and Sustainable Retail

With an approach to reshaping customer experience, the neo-retailing model has been identified as an ideology of agility and adaptability, which enables them to stay ahead of trends and satisfy the ever-changing demands of their customers. One of the most important aspects of this forward-thinking model is the integration of online and offline channels ensuring a cohesive and consistent shopping experience. As neo-retailers have been known for their increase in operational efficiency, it secures the availability of the right product to the right customer at the right time. In recognition of the significance of the environment, neo-retailers have made sustainability a core value in their business practice. When it comes to neo-retailers, sustainability is not only a fad; rather, it is a guiding philosophy that significantly impacts decision-making at every level of the organization. Amazon, Zara, and Nike have proven themselves as leading brands in neo-retailing by embodying a forward-thinking, dynamic and sustainable approach. The neo-retailing model is a case in point of Amazon’s customer-centric approach, constant innovation, and ‘shipment zero’ campaign as part of the sustainable drive. Nike, too, is on the cutting edge, marrying innovation with sustainability with their project ‘move to zero’. Zara also showcases the agility approach by leveraging real-time data and ensuring its offering is well aligned with customer preference.

Success Stories

 

Unlocking the Future

 

With its innovative approach, the neo-retailing model is set to make an inedible mark on the retail industry. The lines between the physical and digital space will become thinner as a result of this evolving technology using AR, VR and blockchain for better supply chain transparency. Eventually, sustainability will become an expected trait for retailers focusing on responsible manufacturing, sustainable sourcing, and reduced environmental impact. There will be a significant influence on customer behaviour, consumers accustomed to personalised experience will have higher expectations, and transparency will become a cornerstone of customer trust, as the neo-retailing model continues to develop. The ongoing commitment to the neo-retailing approach will act as a catalyst for a collaborative ecosystem, data-driven decision-making, and driving a holistic approach to customer relationships.

As this model continues to evolve, it promises a future where retail is not only technologically advanced but also deeply attuned to the needs and values of the modern consumer. The neo-retailing model will steer the retail industry where innovation and ethical business practices are intertwined. Though the journey has just started, the future holds the promise of an exciting era of evolution and growth.

 

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ITC and Reliance Retail’s Partnership Should Provoke More Brands to Acknowledge Indian Farmers: Damodar Mall, CEO, Reliance Retail
ITC and Reliance Retail’s Partnership Should Provoke More Brands to Acknowledge Indian Farmers: Damodar Mall, CEO, Reliance Retail
 

In a significant move to recognize and empower female Indian farmers, ITC's B Natural rebranded its mixed fruit juice as B Farmerette and launched its initiative 'Main Bhi Kisaan' to provide comprehensive training and support to women farmers. Through this initiative, more than 600 farmerettes (female farmers) have received expert-led training and skills for farming and business management. It's worth noting that the 1-liter pack, which has been rebranded by ITC, is its highest-selling category in the fruit juice segment.

Expanding on this, Sanjay Singhal, COO of the Dairy & Beverages Cluster, ITC, stated, "ITC has a long history across all our brands of working with farmers. We have set benchmarks in the areas where we operate. We are associated with farmers across the country. We work closely with farmers for all our brands because we recognize that social responsibility is our commitment, and, more importantly, from a commercial standpoint, we cannot consistently deliver our high-quality products without collaborating with farmers. So, it's beneficial for business and aligns with our social commitment to Indian farmers."

He further mentioned, "We have rebranded our 1-liter mixed fruit juice pack, which accounts for the majority of our business and is the biggest variant we sell. We have taken the initiative to forego the brand name for that product, demonstrating our commitment to this initiative. It will be available for purchase on both the Jio ecommerce platform and Reliance Retail."

Discussing the collaboration, Damodar Mall, CEO, Reliance Retail, commented, "We cater to urban women as they are our customers. We do two things for them: provide them with multiple choices of products and protect them from inflation. However, our customers want more; they want us to be culturally attuned to them. They want us to be responsible and work towards sustainability."

Mall added, "So, we collaborate with the right people to enhance sustainability levels in our work. Similarly, our urban customers want us to recognize women and women's empowerment. What B Natural and ITC are doing is special because women's empowerment typically includes urban women, and farming women are not often within the scope. This makes us natural partners for such initiatives. Overall, urban consumers want simple shopkeepers like us to be good people and engage in activities beyond commerce and trading, which includes this collaboration."

Discussing how other brands should support the interests of farmers, Mall stated, "As the largest fruits and vegetable seller in modern trade, we source 80% of what we buy directly from farmers. We have firsthand empathy and understanding of the sector. Any brand selling fruit in India must engage with farmers, and the initiative that B Natural is undertaking sets a good benchmark that should provoke more brands to acknowledge Indian farmers, especially women farmers."

 

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Over 63% of Women in Bharat Dream of Starting Their Own Business!
Over 63% of Women in Bharat Dream of Starting Their Own Business!
 

Did you know that over 63 percent of women in India aspired to be entrepreneurs and were therefore willing to take credit? A recent report shed light on the financial consumption patterns of women at retail stores, providing a glimpse into their aspirations, preferences, and challenges in the financial landscape.

The pan-India survey, PayNearby Women Financial Index (PWFI), underlined the strong desire for financial independence and self-reliance among women in Bharat. Notably, women aged 18-30 and 31-40 exhibited remarkable digital adeptness, showcasing a keen inclination towards financial transactions. However, it was intriguing that 41 percent of women mentioned not using any payment app on their phones, indicating a digital divide that needed attention.

The preference for biometric authentication was evident, with over 95 percent of female customers opting for AePS for cash withdrawal. While cash remained the favored mode of transaction at 48 percent, Aadhaar-led transactions and UPI QR codes were gaining momentum in double digits. Surprisingly, cards continued to have minimal presence in this segment.

Adoption of Online Commerce and Entertainment

The PWFI report delved into the evolving landscape of online commerce and entertainment among women. Online commerce saw decent adoption at 24 percent, with daily groceries and household items being the most commonly ordered category (27 percent). This reflected the aspirational nature of women at the last mile and validated the latent demand for such services among them. Notably, travel bookings and PAN card issuance saw significant uptake, showcasing women's desire to become self-reliant and financially included.

Financial Habits and Goals

Cash withdrawal, mobile recharges, and bill payments emerged as the top three services availed by women at PayNearby retail outlets. The report unveiled that 70 percent of women held Jan-Dhan savings accounts primarily used for cash withdrawals. However, more than 25 percent of women admitted to their husbands managing their bank accounts, revealing a need for financial literacy and empowerment.

Among the top three saving goals, 'child education' topped the list, followed by 'medical emergency' and 'buying household electronic items'. The report indicated that 54 percent of women preferred saving between Rs 750-1000 monthly, emphasizing their pragmatic approach towards financial planning. Moreover, 71 percent of women exhibited a higher inclination towards short-term investments, reflecting a trend towards investment diversification.

Despite an increasing awareness of various government schemes related to financial well-being, only 16 percent of women sought guidance from financial advisors, with family members being the primary decision-makers (74 percent). This pointed to a crucial gap in financial education and underscored the need to empower women with knowledge and resources.

The survey also revealed a growing willingness among women to take formal credit (68 percent), emphasizing the need for affordable credit solutions. Emergency expenses, home repairs, children's education, and agricultural needs were cited as reasons to avail credit, highlighting the importance of accessible financial tools.

Commenting on the findings, Anand Kumar Bajaj, Founder, MD & CEO, PayNearby, said, "It is delightful to see that women in Bharat are asserting their entrepreneurial spirit more than ever with over 63 percent seeking avenues for income augmentation. In the journey towards a nation's development, women should be equal stakeholders. The increasing adoption of newer services such as e-commerce, mutual funds, and fixed deposits signifies a promising trend in rural areas, where women are gearing up to engage in formal economic activities. We aim to empower women with greater autonomy over their savings, investments, and other crucial aspects. Sashakt Naari, Sashakt Desh," Bajaj added.

Jayatri Dasgupta, CMO, PayNearby, said, "Bharat stands on the threshold of a profound digital transformation. Yet, to fully unlock its potential, we must equip our women with the tools necessary to integrate seamlessly into this rapidly evolving digital landscape. With the launch of our fourth edition of PWFI, we undertake a comprehensive assessment of our progress and chalk out the roadmap to make women equal participants in Bharat’s growth journey. With our recently launched Digital Naari initiative, we are providing additional income opportunities for women at the last mile, enabling them to provide financial and digital access to their communities at their convenience of time, location (from home/store), and product preferences. Our aim is to create a women-led development that breaks down technological and financial barriers and creates a more equitable society", Dasgupta added.

The PayNearby Women Financial Index offered a comprehensive snapshot of the financial aspirations, habits, and challenges faced by women in Bharat. The findings underscored the need for targeted efforts in financial literacy, digital inclusion, and affordable credit solutions to empower women on their journey towards financial independence.

 

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68% of Retailers Favor National FMCG Cold Drinks, Citing Superior Sales over Local Competitors
68% of Retailers Favor National FMCG Cold Drinks, Citing Superior Sales over Local Competitors
 

As the scorching heat of summer sets in across India, both FMCG giants and local kiranas are gearing up to cater to the rising demand for summer essentials. An overwhelming 67 percent of Kirana stores in Maharashtra are stocking up more cold drinks this summer season, indicating a surge in demand for refreshing beverages. What's surprising is that local cold drink brands are holding their ground against well-established national brands like Pepsi, Coke, Thums Up, and Sprite. Kirana owners in Maharashtra reported similar sales figures for both local and national brands, marking a significant shift in consumer preferences.

A recent survey conducted by Kirana Club, India's largest Kirana Community, sheds light on an interesting trend emerging in Maharashtra. Unlike other states where national FMCG cold drink brands dominate the market, Maharashtra stands out as the only state where local brands are giving tough competition to their national counterparts.

Nationwide Trends in FMCG Cold Drink Sales

While Maharashtra may be witnessing a unique trend, nationwide statistics reveal a different story. Across India, 68 percent of kiranas indicate that national FMCG cold drink brands outsell their local counterparts. This trend is particularly prominent in states like Uttar Pradesh, Madhya Pradesh, and Bihar, where 75 percent of retailers report higher sales of national brands.

In Rajasthan and Chhattisgarh, 60 percent of retailers echo the sentiment of favoring national brands over local ones. However, despite these trends, it's clear that regional preferences play a crucial role in shaping consumer choices, as evidenced by Maharashtra's divergence from the national trend.

Kids' Favorite Summer Beverages

When it comes to the favorite summer beverages among kids, Frooti emerges as the clear winner, capturing 24 percent of the market share according to the Kirana Club survey. Following closely behind are Maaza (19 percent) and Sprite (8 percent). Other popular choices include Dew and Sting at 6 percent each, Coke (5 percent), Pepsi, and Thums Up at 3 percent each, with Appy Fizz and Jeera Soda rounding off the list at 2 percent each.

These findings highlight the importance of understanding local preferences and tailoring product offerings to meet the diverse tastes of consumers, especially during the summer months when demand for refreshing beverages is at its peak.

Diversification of Summer-Centric Products

Aside from cold drinks, kirana stores are diversifying their offerings to include a range of summer-centric products. Dairy products such as ice creams and curd are stocked up in 16 percent of stores, while talcum powder and Glucose-Rasna mix hold a notable presence at 7 percent and 6 percent, respectively.

Energy drinks are also emerging as a popular category, particularly in states like Uttar Pradesh, Bihar, Maharashtra, and Jharkhand. This diversification reflects a strategic approach by Kirana owners to cater to the varied needs of consumers during the summer season.

Anshul Gupta, the Founder of Kirana Club, emphasizes the significance of understanding consumer preferences at a hyperlocal level. He remarks, "A kirana owner knows the pulse of the consumer." Gupta's insights underscore the importance of leveraging data and community insights to identify emerging trends and capitalize on opportunities in the market.

As summer sweeps across India, the FMCG industry is witnessing a flurry of activity, with both national giants and local players vying for consumer attention. While national brands continue to dominate the market in most states, Maharashtra stands out as a unique landscape where local brands are making significant inroads.

With consumer preferences evolving rapidly, the key to success lies in understanding and adapting to local tastes and preferences. As Kirana stores continue to play a pivotal role in serving their communities, their ability to anticipate and meet the demands of consumers will be crucial in shaping the future of the FMCG industry in India.

 

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Top 5 Reasons Why Retail Companies Are Going Public | Key Strategic Decisions
Top 5 Reasons Why Retail Companies Are Going Public | Key Strategic Decisions
 

The retail sector has experienced transformative changes over recent decades, including the ascent of e-commerce and shifts in consumer preferences, necessitating constant adaptation and innovation by retail companies. In this dynamic landscape, a standout strategic maneuver is the choice to go public through an Initial Public Offering (IPO). This significant step not only signifies a pivotal milestone but also unlocks fresh avenues for growth and success. This article delves into five key reasons why retail companies opt for the public route, shedding light on the strategic benefits of this crucial decision.

Five Key Reasons Why do Companies Go Public 

1. Access to Capital for Expansion

One of the primary reasons for a retail company to go public is the access to substantial capital. An IPO can provide the financial resources necessary for expansion, technology upgrades, and other strategic initiatives.

For instance, consider the case of a leading Indian retail chain that raised a considerable amount through its IPO. This funding enabled the company to expand its footprint significantly, opening new stores across various regions and enhancing its market presence. The CEO of this chain, in an interview, emphasized the role of the IPO in their growth story, stating, "Going public transformed our business scale and scope, allowing us to accelerate our expansion plans and build a stronger brand."

This expansion is not just limited to physical stores. Many retail companies invest IPO funds into developing their e-commerce platforms, tapping into the growing trend of online shopping. These investments often pay dividends in terms of wider customer reach and increased sales.

2. Increased Brand Visibility and Credibility

Another advantage of going public is the enhanced brand visibility and credibility. Being listed on a stock exchange lends a sense of legitimacy and stability, which can be a significant factor in attracting new customers and retaining existing ones.

A noted instance is of a retail brand that witnessed a surge in its customer base post-IPO. The transparency and regulatory standards that come with being a public company reassured customers of the brand's commitment to quality and ethical practices. A marketing expert explains, "The public status often translates into higher brand equity, as customers tend to place greater trust in companies that are open about their financials and operations."

This increased credibility also extends to business partnerships. Suppliers and collaborators often prefer to deal with publicly-listed companies, owing to their perceived stability and reliability. This can lead to more favorable terms and business opportunities.

3. Employee Incentives and Attraction of Talent

Going public also has significant implications for a company's workforce. Public companies can offer stock options or shares as part of employee compensation packages, which is not only a powerful tool for employee retention but also makes the company more attractive to top talent.

An HR manager from a retail company that recently went public shared, "Offering stock options has been a game-changer for us in terms of attracting and retaining talent. Employees feel more connected and invested in the company's success, which drives higher performance and loyalty."

Moreover, being associated with a public company can enhance an employee's professional stature. It implies stability and growth potential, key considerations for career-focused individuals.

4. Improved Market Position and Competitive Advantage

A public listing can significantly improve a retail company's competitive standing. With additional capital, public companies often find themselves better equipped to take strategic risks, invest in innovation, and outperform their competitors.

For example, a retail company utilized its IPO funds to invest in advanced customer analytics. This investment led to more effective marketing strategies and a more personalized shopping experience, giving them an edge over their competitors.

A retail consultant notes, "Public companies often gain a competitive advantage through their ability to scale quickly and invest in areas that provide a direct return, such as customer experience and product innovation."

5. Opportunity for Original Investors to Exit or Profit

Finally, an IPO represents a significant opportunity for the original investors and founders. Early backers who took the initial risk can see a substantial return on their investment, allowing them to profit and potentially reinvest in new ventures.

An early investor in a successful retail chain commented, "Seeing the company go public was incredibly rewarding. It not only validated our early belief in the business but also provided a lucrative exit strategy."

This exit opportunity is crucial for the startup ecosystem, as it encourages investment in new and innovative businesses, promoting a cycle of entrepreneurship and economic growth.

Conclusion

In conclusion, the decision to go public offers multiple strategic advantages for retail companies. From accessing capital for expansion, enhancing brand visibility, attracting top talent, gaining a competitive edge, to providing exit opportunities for early investors, the benefits are substantial. As the retail industry continues to evolve, the choice to go public will likely remain a key strategic decision for companies looking to scale new heights.

Check More: Retailer: Understanding Key Points

 

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Top 5 Jewellery Brands in India with the Largest Retail Networks
Top 5 Jewellery Brands in India with the Largest Retail Networks
 

The Indian jewellery market showcases a blend of tradition and modern trends. Leading this market are the top five jewelers in India, known for their exquisite pieces and extensive retail networks. This article highlights the foremost jewelry brands in India, focusing on those with a significant retail presence. It offers valuable insights for business owners, entrepreneurs, and customers, spotlighting brands that combine traditional designs with contemporary styles, making stunning jewelry widely accessible.

Top 5 Jewellery Brands in India

Here's an overview of the top 5 jewellery brands in India, known for their significant retail presence and exquisite designs:

1. Tanishq: India's Top Jewellery Brands

 

Tanishq – Top Jewellry Brands

 

Tanishq, a crown jewel of the prestigious Tata Group, needs little introduction. Renowned for its diverse range of designs catering to a wide spectrum of tastes, from the traditional to the ultra-modern, Tanishq has carved a niche for itself in the Indian  Jewellery landscape. Their retail presence is equally impressive. With over 350 showrooms spread across India, Tanishq boasts a truly national footprint, ensuring their exquisite creations are accessible to a vast customer base. This widespread network is a testament to their consistent growth over the years, reflecting the brand's unwavering commitment to quality and customer satisfaction.

But Tanishq goes beyond just beautiful designs. They have built a reputation for trust and purity, a vital factor in the Indian Jewellery market. All their pieces are meticulously crafted with certified gold and diamonds, adhering to the highest quality standards. They have even introduced innovative concepts like the 'karatmeter,' a handy tool that empowers customers to verify the purity of their gold purchases themselves. This transparency and commitment to ethical practices have played a significant role in solidifying Tanishq's position as a leading Jewellery retailer.

  • Outlets in India: 350+
  • Total Showrooms: 350+
  • Countries: India
  • Brand Ambassador: Deepika Padukone

Retail Presence: Tanishq's journey from a single store to a network sprawling across major cities and towns in India is a testament to its commitment to accessibility and customer service. With over 300 stores across the country, Tanishq has made its presence felt in every corner, from metropolitan cities to emerging towns. The brand's strategic expansion, focusing on customer-centric locations and experiential showrooms, has been pivotal in its retail success.

Unique Selling Proposition: What sets Tanishq apart is its unwavering commitment to purity and trust. The brand has introduced several innovations such as the 'Karatmeter', which assures customers of the purity of the gold. Additionally, their designs are a blend of traditional and contemporary styles, catering to a wide range of preferences.

Check More :

 How GIVA is Revolutionizing Jewelry Retail in India

Tanishq's 'String It' Marks a New Era in Indian Jewellery

2. Kalyan Jewellers: Premier Jewellery Brands in India

 

kalyan jewellers -best Jewellery Brands in India

 

Kalyan Jewellers is a brand synonymous with growth. From a single showroom in Thrissur, Kerala, in 1993, they have embarked on a remarkable journey, establishing a vast network of over 100 showrooms across India and the Middle East. This strategic expansion reflects their deep understanding of the market and their commitment to catering to a global audience. Kalyan Jewellers places their outlets in prime locations, ensuring maximum visibility and accessibility for their customers.

Their success story is built on a strong foundation of customer-centricity. Kalyan Jewellers prioritizes transparency in pricing, with clear labeling and detailed product information. This, coupled with their commitment to quality assurance through BIS hallmarked gold and certified diamonds, fosters trust and builds lasting relationships with their customers.

  • Outlets in India: 150+
  • Total Showrooms: 200+
  • Countries: India, UAE, Qatar, Oman, Kuwait, Saudi Arabia, Malaysia
  • Brand Ambassadors: Amitabh Bachchan, Katrina Kaif

Retail Presence: The brand boasts an extensive network of over 100 showrooms, strategically located across the country. Kalyan Jewellers' focus on customer satisfaction and trust has propelled them to expand beyond Indian shores, marking their presence in key international markets.

Unique Selling Proposition: Transparency in pricing and purity of gold are the cornerstones of Kalyan Jewellers' business philosophy. They have been pioneers in introducing customer-friendly practices like detailed price tags and rate tags, ensuring customers get value for their money.

Check More : 

5 Things Consumers Should Keep in Mind while Buying Jewelry Online

Kalyan Jewellers Expands Retail Presence with New Showrooms in Delhi

3. Malabar Gold & Diamonds: Jewellery Brands in India

 

Malabar Gold & Diamonds

 

Malabar Gold & Diamonds, with its rich heritage dating back to 1993 in Kerala, is a shining example of a brand that has successfully transitioned from a local player to a global giant. Today, they boast 340+ outlets across 13 countriesshowcasing the universal appeal of their exquisite  Jewellery collections. Their market penetration strategy is commendable, with a strong presence in both urban centers and smaller towns, ensuring they cater to a diverse clientele.

Malabar Gold & Diamonds' distinct selling proposition lies in their diverse collection that caters to a variety of tastes and budgets. From traditional Indian designs to contemporary international trends, they offer something for everyone.  Their commitment to quality is unwavering, with all their Jewellery pieces meeting the highest international standards and bearing the mark of BIS hallmarking for gold purity.  Beyond their commercial success,  Malabar Gold & Diamonds is actively involved in Corporate Social Responsibility (CSR) initiatives, giving back to the communities they serve and fostering a sense of social responsibility.

  • Outlets in India: 260+
  • Total Showrooms: 340+
  • Countries: 13, including USA, Singapore, Malaysia
  • Brand Ambassadors: Anil Kapoor, Kareena Kapoor

Retail Presence: Malabar Gold & Diamonds boasts an impressive network of over 250 showrooms across 10 countries. In India, their stores are strategically located, reaching customers in both urban and rural areas. Their international presence includes countries in the Middle East, Southeast Asia, and America, showcasing their global appeal and understanding of diverse customer preferences.

Unique Selling Proposition: Malabar Gold & Diamonds is celebrated for its wide range of Jewellery collections, appealing to various ethnic and modern tastes. Their commitment to quality is evident through their BIS hallmarked and certified diamonds. Furthermore, the brand is actively involved in corporate social responsibility initiatives, which resonates well with the new generation of socially conscious consumers.

Read More : 

4. PC Jeweller: India’s Top Jewellery Brands

 

PC Jeweller - India’s Top Jewellery Brands

 

Established in 2006, PC Jeweller has carved a unique niche for itself in the Indian Jewellery market by seamlessly blending traditional craftsmanship with contemporary design sensibilities. Their journey has been impressive, with over 70 showrooms spread across India, strategically located in a mix of urban centers and tier-II cities. This approach ensures they cater to a broad customer base, from those seeking classic heirlooms to those who favor modern, trendy pieces.

PC Jeweller's unique selling proposition lies in their ability to bridge the gap between generations. Their collections boast a captivating blend of exquisite kundan and meenakari work alongside sleek, minimalist designs that cater to the younger audience. This ensures there's something for every taste and occasion, making them a popular destination for families looking to shop together.

  • Outlets in India: 70+
  • Total Showrooms: 70+
  • Countries: India
  • Brand Ambassadors: Akshay Kumar

Retail Presence: With a strong presence in more than 100 cities and towns across India, PC Jeweller has catered to a wide range of customers. The brand has successfully expanded its footprint by opening showrooms in both metropolitan cities and smaller towns, ensuring that they tap into various market segments.

Unique Selling Proposition: PC Jeweller is known for its unique blend of traditional and contemporary Jewellery designs. They offer a wide range of collections that cater to different occasions, from weddings to everyday wear. Additionally, their customer loyalty programs and seasonal promotions have helped them build a strong and loyal customer base.

5. Joyalukkas: India's Best Jewellery Brands

 

Joyalukkas - Best Jewellery Brands

 

Joyalukkas needs no introduction. This internationally renowned brand, established in 1988, has become synonymous with exquisite craftsmanship, award-winning designs, and impeccable quality standards. Their global footprint is truly impressive, with over 160 showrooms spread across 11 countries, reflecting their commitment to catering to a diverse international audience.  Their strategic location choices ensure maximum visibility and accessibility for their clientele.

What truly sets Joyalukkas apart is their unwavering focus on design excellence. Their collections consistently win prestigious awards, showcasing their commitment to innovation and creativity.  Beyond aesthetics, Joyalukkas prioritizes quality assurance.  All their Jewellery pieces are meticulously crafted using certified stones and ethically sourced materials, ensuring customers receive only the best. This dedication to quality, coupled with their stunning designs, has earned them the well-deserved title of "The World's Favourite Jeweller."

  • Outlets in India: 85+
  • Total Showrooms: 160+
  • Countries: 11, including UAE, USA, UK, Singapore
  • Brand Ambassadors: Hrithik Roshan

Retail Presence: Joyalukkas has a formidable presence with over 140 showrooms across 11 countries, including multiple locations in the Middle East, the UK, and the USA. The brand’s strategic expansion has allowed it to cater to a wide diaspora of customers who appreciate the finesse of Indian Jewellery.

Unique Selling Proposition: Joyalukkas is renowned for its award-winning designs, quality assurance, and exceptional customer service. They offer an extensive collection that includes both traditional and modern designs, appealing to a broad audience. The brand’s commitment to quality and customer satisfaction has made it a global favorite.

Conclusion

The Indian Jewellery sector, illuminated by the top 5 jewellers in India—Tanishq, Kalyan Jewellers, Malabar Gold & Diamonds, PC Jeweller, and Joyalukkas – stands as a symbol of excellence and innovation. These brands, recognized as some of the best jewellery brands in India, have significantly contributed to the industry's growth. They set superior standards in customer experience and retail sophistication. Their widespread and strong retail presence underlines their commitment to quality, trustworthiness, and a deep understanding of customer preferences. As these biggest jewellery brands in India continue their journey of expansion and evolution, they promise to forge new trails in the Jewellery world, reflecting the brilliance and precision of the exquisite pieces they create.

Frequently Asked Questions on Top Jewellery Brands in India

1. Which jewelry brand has the most showrooms in India?
Tanishq has the most showrooms in India with over 350 outlets.

2. Who are the celebrity endorsers for these brands?

  • Tanishq: Deepika Padukone
  • Kalyan Jewellers: Amitabh Bachchan, Katrina Kaif
  • Malabar Gold & Diamonds: Anil Kapoor, Kareena Kapoor
  • PC Jeweller: Akshay Kumar
  • Joyalukkas: Hrithik Roshan

3. What sets Tanishq apart from other jewelry brands?
Tanishq is renowned for its ethical sourcing of materials, including recycled gold and conflict-free diamonds, as well as its wide range of collections like 'Mia' and 'Rivaah' that cater to various tastes and occasions.

4. How does Kalyan Jewellers ensure transparency in pricing?
Kalyan Jewellers is known for its clear and fair pricing policies, which are communicated to customers through their 'My Kalyan' customer service initiative, ensuring transparency and trust.

5. What kind of collections can I find at Malabar Gold & Diamonds?
Malabar Gold & Diamonds offers an extensive range of jewelry, from exquisite bridal collections to everyday wear, and is also known for its active participation in charitable activities.

6. Does PC Jeweller offer personalized jewelry services?
Yes, PC Jeweller offers personalized jewelry design services, allowing customers to create unique pieces that blend traditional and modern styles.

7. What is Joyalukkas known for internationally?
Joyalukkas is recognized for its innovative and award-winning designs and has a significant international presence with 160+ showrooms in 11 countries, including the UAE, USA, UK, and Singapore.

8. Are these brands involved in any CSR activities?
Yes, brands like Malabar Gold & Diamonds are actively engaged in corporate social responsibility initiatives, including housing projects for the underprivileged.

9. Which brand should I choose for custom bridal jewelry?
Both Tanishq and PC Jeweller are excellent choices for custom bridal jewelry, offering personalized services and a wide range of bridal collections.

10. How can I verify the authenticity of the jewelry from these brands?
These brands, such as Tanishq and Kalyan Jewellers, have strict quality assurance processes and transparent pricing policies, ensuring the authenticity and purity of their jewelry.

 

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Differences Between Store and Non-Store Retailing
Differences Between Store and Non-Store Retailing
 

Retailing is a fundamental part of the economy, providing consumers with access to goods and services. Retail can be divided into two main categories: store retailing and non-store retailing. Understanding the differences between these types of retailing can help businesses strategize and consumers make informed choices. Let's explore these concepts in detail.

What is Store Retailing ?

Store retailing, the bustling heart of traditional shopping in India, thrives on the direct interaction between customers and physical stores. Despite the rise of e-commerce, brick-and-mortar retail sales in India remain strong, accounting for an estimated 80% of the total retail market in 2023. This highlights the enduring appeal of the in-store shopping experience for Indian consumers.

Store retailing goes beyond mere transactions, offering an immersive experience. Imagine browsing aisles overflowing with a mind-boggling variety of products. According to the Confederation of Indian Industry (CII), India's retail sector boasts over 450 million stock keeping units (SKUs) - a testament to the sheer diversity available. The sensory feast doesn't stop there. Studies suggest Indian shoppers spend a significant amount of time in stores, with an average visit to a shopping mall lasting around 2.3 hours. This extended time spent browsing reflects the importance of the in-store experience for Indian consumers.

Human connection remains a vital aspect of store retailing in India. Unlike online shopping, physical stores allow for interaction with knowledgeable salespeople. The Retail Leadership Summit estimates that the Indian retail sector employs over 40 million people. This vast network of individuals plays a crucial role in guiding customers, answering questions, and offering personalized service.

Store Retailing: Detailed Analysis

Advantages of Store Retailing

  • Physical Interaction: Customers can touch, feel, and try products before purchasing, which enhances their shopping experience. This sensory interaction is particularly important for products like clothing, furniture, and electronics.
  • Immediate Gratification: Shoppers can take their purchases home immediately, which is beneficial for those who need items urgently.
  • Customer Service: Personalized assistance from sales staff can help guide purchasing decisions. Knowledgeable staff can provide recommendations, answer questions, and offer a level of service that enhances customer satisfaction.

Challenges of Store Retailing

  • High Overhead Costs: Renting space, utilities, and staffing can be expensive. These costs can significantly impact profit margins, especially for smaller retailers.
  • Limited Reach: Stores are geographically bound, limiting their customer base to local areas. This can be a disadvantage compared to online retailers that can reach a global audience.
  • Fixed Hours: Store operating hours may not always align with customer schedules. This can be inconvenient for customers who prefer shopping outside regular business hours.

Example: A department store like Macy's provides a wide range of products, from clothing to electronics, and allows customers to experience these products first-hand. The tactile experience and immediate purchase gratification make store retailing appealing to many consumers.

What is Non-Store Retailing ?

Non-store retailing is changing the way we shop, offering convenience and choice like never before. Instead of heading to physical stores, consumers can now browse and buy products through various channels, from online platforms to television shopping networks.

Thanks to technology, shopping has become easier than ever. With just a few clicks or taps, shoppers can explore a vast array of products, from electronics to clothing, all from the comfort of their homes. E-commerce giants like Amazon, Flipkart, and Alibaba have transformed the retail landscape, offering everything from daily essentials to specialty items with speedy delivery options.

Direct selling adds a personal touch to non-store retailing. Companies like Amway and Avon connect consumers with independent sales representatives who offer product demonstrations and personalized recommendations. It's shopping with a human touch, right at your doorstep. For example, Amway's network of sales representatives provides customers with demonstrations of wellness products and home care solutions, tailored to their needs.

Teleshopping takes the shopping experience to the small screen, allowing viewers to purchase products showcased on television channels. HomeShop18 and Naaptol are prime examples of teleshopping networks in India, offering a wide range of products, from kitchen appliances to fashion accessories. It's a convenient way to shop, with the added benefit of expert advice and demonstrations.

While non-store retailing offers convenience, it also presents challenges. Retailers must ensure efficient logistics and delivery to meet customer expectations. Trust and satisfaction are paramount, especially without the opportunity for customers to physically interact with products before purchase.

Advantages of Non-Store Retailing

  • Convenience: Customers can shop from anywhere at any time, offering unparalleled convenience. This flexibility is one of the major drivers of non-store retail's growth, especially with the increasing use of smartphones and internet access.
  • Broader Reach: Online platforms can reach customers globally, expanding the potential market. This global reach allows retailers to tap into a much larger customer base compared to physical stores.
  • Lower Costs: Savings on rent and utilities can be passed on to customers through lower prices. The reduced overhead costs make it easier for online retailers to offer competitive pricing.

Challenges of  Non-Store Retailing

  • Lack of Physical Interaction: Customers cannot physically inspect products before purchase, which can lead to dissatisfaction if the product does not meet expectations. This is a common concern for items like clothing and furniture.
  • Shipping Times: There may be delays in receiving products, especially for international orders. Shipping logistics can sometimes result in longer wait times, which can be a drawback for urgent purchases.
  • Security Concerns: Online transactions can pose security risks, including fraud and data breaches. Ensuring the security of customer data is a significant challenge for online retailers.

Example: Amazon, an e-commerce giant, offers a vast array of products online, allowing customers to shop conveniently from their homes. The convenience of home delivery and the vast selection available make non-store retailing attractive to many consumers.

Differences Between Store and Non Store Retailing

Difference Between Store and Non-Store Retailing

Here's a tabular comparison highlighting key differences:

Aspect Store Retail Non-Store Retail
Customer Experience Sensory engagement, personal interaction, immediate gratification. Shopping from anywhere, anytime convenience.
Economic Contribution Contributes to local employment (approx. 10% of workforce in India). Rapid growth (30% increase in e-commerce in India, 2023).
Product Interaction Ability to touch, feel, and try products. Often relies on product descriptions and reviews.
Customer Preference Preferred for certain items (65% of shoppers for clothes, as per 2023 survey). Increasingly popular for a wide range of products.
Business Model Requires physical space, higher overhead costs. Lower overhead costs, wider reach.
Local Impact Supports local economy, community-centric. Less direct local economic impact, but broader market access.
Adaptation Innovating with technology integration (e.g., in-store QR codes). Continuously evolving platforms and delivery methods.

 

Final Words

Both in-store and non-store retailing have unique advantages and challenges. Store retailing offers a traditional shopping experience with immediate gratification and personal customer service, but it comes with higher costs and limited reach. Non-store retailing provides convenience, broader market access, and lower costs, though it lacks physical interaction and has potential security concerns. Understanding these differences can help businesses tailor their strategies and help customers make informed shopping choices.

For retailers, balancing the strengths of both store and non-store channels can provide a comprehensive approach to meeting consumer needs and maximizing market opportunities.

 

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Why Rural Markets are Crucial for the Expansion of the FMCG Sector
Why Rural Markets are Crucial for the Expansion of the FMCG Sector
 

The Fast-Moving Consumer Goods (FMCG) sector has long been a cornerstone of the Indian economy, offering a variety of everyday items that are essential to millions. Traditionally, this sector has thrived on the urban demand. However, a significant shift has been observed in recent years, where the rural market is emerging as a key player in driving the growth of the FMCG sector. This article delves into the reasons behind this trend and its implications for businesses, entrepreneurs, and retail owners.

The rural landscape of India, home to approximately 65% of the country's population, presents a vast and untapped market brimming with potential. The rising income levels, increased awareness, and improved access to products have catalyzed the expansion of the FMCG sector in these areas. This burgeoning rural market is not just a growth avenue but also a necessity for FMCG companies looking to sustain and expand their market presence.

A Crucial Growth Driver for FMCG

The rural market has become increasingly significant for FMCG companies due to several factors:

1. Increasing Purchasing Power

Rural incomes have been on the rise, thanks in part to government initiatives and the increasing diversification of rural economies beyond agriculture. A study by the National Bank for Agriculture and Rural Development (NABARD) revealed a notable increase in rural household incomes. This enhanced purchasing power translates into greater spending on FMCG products, which were once considered luxuries in these regions.

2. Changing Lifestyle and Consumer Behavior

The lifestyle and consumption patterns in rural areas are evolving. Exposure to digital media and increased awareness have led to a shift in consumer behavior. Rural consumers are now more inclined towards branded products, quality, and value-added services, which were previously the domain of urban consumers.

3. Improved Distribution Networks

FMCG companies have significantly improved their distribution networks, making their products accessible in remote areas. Innovative distribution strategies, like partnering with local entrepreneurs and utilizing digital platforms, have played a crucial role in penetrating the rural market.

4. Government Initiatives and Schemes

Government schemes aimed at rural development have indirectly boosted the FMCG sector. Initiatives like the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) have increased rural disposable incomes, enabling more spending on FMCG products.

5. Tailored Products and Marketing Strategies

Companies are increasingly tailoring their products and marketing strategies to suit the rural consumer's needs and preferences. Smaller packaging, regional language advertising, and products specific to rural lifestyles have contributed to the growth in this sector.

Testimonials and Success Stories

Many businesses have witnessed substantial growth by tapping into the rural market. A leading FMCG company reported a significant percentage of their revenue coming from rural areas, surpassing urban growth rates. An entrepreneur from a small town shared, “Our sales have doubled since we started focusing on rural-specific products and marketing. The potential in these areas is immense and still largely untapped.”

Conclusion

The rural market is not just an extension of the urban demand but a distinct sector with its unique dynamics. For FMCG companies, this market represents a vast pool of opportunities waiting to be explored. The rise in rural consumption is not a transient trend but a long-term shift that will shape the future of the FMCG sector in India. Companies that understand and adapt to the nuances of rural India will find themselves at the forefront of this growth wave. Embracing the rural market is not just a business strategy but a necessity for sustained growth and expansion in the ever-evolving FMCG landscape.

 

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What Technologies Will Drive the Next Boom in Indian Retail?
What Technologies Will Drive the Next Boom in Indian Retail?
 

The Retail Revolution: Technologies Powering the Next Wave of Growth

The Indian retail landscape is undergoing a radical transformation. Consumer expectations are constantly evolving, demanding a seamless and personalized shopping experience. Technology is the key driver of this change, disrupting traditional models and paving the way for the next wave of growth. Here, we delve deeper into the key technologies that will propel Indian retail forward:

1. Artificial Intelligence (AI): The Personalized Shopping Assistant

Imagine walking into a virtual store where a friendly AI assistant greets you, understands your preferences, and recommends products you'll love. This is the power of AI in retail. It goes beyond simple chatbots. AI can analyze vast amounts of customer data to personalize product recommendations, predict buying behavior, and even tailor marketing campaigns. Leading e-commerce platforms like Myntra are already reaping the benefits, using AI-powered chatbots to answer customer queries in real-time, suggest relevant products based on browsing history, and even offer personalized styling advice. This results in a more engaging and satisfying shopping experience for customers, ultimately leading to higher conversions and sales. As per a study by PwC, AI is projected to contribute a staggering $1 trillion to the Indian economy by 2035, highlighting its immense potential to revolutionize retail.

2. The Internet of Things (IoT): Transforming Inventory Management

Imagine a world where your local grocery store knows exactly when you're running low on milk and automatically sends you a restocking reminder. This is the magic of the Internet of Things (IoT). It's a network of interconnected devices that collect and share data in real-time. In retail, this translates to powerful insights into customer behavior and inventory management. Stores like Big Bazaar are leveraging IoT sensors on shelves to track product movement and optimize stock levels. These sensors can detect when products are running low and trigger automatic restocking procedures, eliminating stockouts and ensuring a smooth shopping experience. Additionally,  IoT can be used to monitor environmental conditions like temperature and humidity, crucial for maintaining the quality of perishable goods.

3. Robotics: The Rise of the Warehouse Workforce

Robots are no longer the stuff of science fiction. They are increasingly being deployed in warehouses and stores to automate repetitive tasks like picking and packing orders. This not only expedites order fulfillment but also reduces labor costs. Imagine a scenario where a swarm of robots efficiently retrieves items from shelves, assembles orders, and prepares them for delivery, all within minutes. This is the future that robotics promises. A report by McKinsey predicts that automation will handle a staggering 80% of warehouse tasks by 2030.  This frees up human employees to focus on more customer-centric tasks like providing personalized service and resolving queries.

4. Augmented Reality (AR) and Virtual Reality (VR): Bringing the Store to Your Home

Gone are the days of struggling to visualize how a new sofa would look in your living room. Augmented Reality (AR) and Virtual Reality (VR) are revolutionizing the shopping experience. AR overlays digital elements onto the real world, allowing customers to virtually try on clothes or see how furniture would fit in their homes. IKEA India, for example, allows customers to use an AR app to visualize furniture pieces in their space before purchase. VR takes this concept a step further, completely immersing the customer in a simulated shopping environment. This technology not only enhances customer engagement and satisfaction but also reduces the risk of online purchase returns due to size or fit issues.

5. Computer Vision Sensor Fusion: Seeing is Believing

Imagine a checkout system that recognizes all your items instantly, eliminating the need for scanning barcodes. This is the future with Computer Vision Sensor Fusion. This technology combines data from multiple cameras and sensors to create a real-time understanding of the physical environment. In retail, it has diverse applications.  Stores can implement self-checkout systems powered by computer vision, eliminating long queues and streamlining the checkout process. Additionally, it can be used for loss prevention by identifying suspicious activities and analyzing customer traffic patterns using heat maps to optimize store layouts and product placement.

The Future is Hybrid

The future of Indian retail lies in a hybrid model that seamlessly integrates online and offline channels.  [Stat: A report by Assocham Indian Retail Forum (AIRF) suggests that over 72% of Indian consumers prefer a combination of online research and physical store purchases]  By leveraging technology to personalize the online experience and enhance the in-store environment, retailers can create a truly omnichannel experience that caters to the evolving needs of today's consumers.

In conclusion, the Indian retail sector is poised for significant growth, driven by the adoption of cutting-edge technologies. By embracing AI, IoT, robotics, AR/VR, and computer vision, retailers can unlock new opportunities, enhance customer experiences, and drive business success. The time to innovate is now.

 

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How Daalchini is Revolutionizing Micro Retail in India
How Daalchini is Revolutionizing Micro Retail in India
 

Daalchini and the Revolution of Micro Retail in India

India's retail landscape is a vibrant tapestry, rich in tradition yet ripe for innovation. In this bustling market, Daalchini Technologies emerges as a beacon of change, a pioneer redefining the nuances of micro retail. This narrative isn't just about a company; it's about a movement that intertwines the threads of technology with the colors of traditional Indian retail. In the subsequent sections, we will delve deep into Daalchini's journey, exploring how it's reshaping the Indian retail scene, and illuminating its implications for entrepreneurs, retail owners, and the everyday consumer.

The Evolution of Micro Retail in India

Historical Overview:
The roots of India’s retail sector are as old as its civilization, traditionally characterized by the ubiquitous 'kirana' shops, local markets, and street vendors. These small-scale, family-owned businesses have been the lifeblood of Indian commerce, fostering a unique shopping culture centered around personalization and convenience.

Current Trends:
In recent years, micro retail has been undergoing a seismic shift. The influx of digital technology, growing smartphone penetration, and evolving consumer preferences are reshaping the landscape. Today's consumers seek a blend of the traditional personal touch with the efficiency of modern technology, creating a fertile ground for innovative business models.

Daalchini: The Game Changer in Indian Micro Retail

The Birth of Daalchini:

Daalchini Technologies, conceptualized by visionary entrepreneurs Prerna Kalra and Vidya Bhushan, started with a simple yet powerful idea: to bring the convenience of automated retail to every nook and corner of India. Recognizing the untapped potential in combining traditional retail models with modern technology, Daalchini was born.

Growth and Expansion:

Daalchini's journey from a startup to a trailblazer in the Indian retail sector is nothing short of remarkable. The company has expanded rapidly, tapping into the unmet needs of urban and semi-urban consumers, and in the process, revolutionizing the concept of micro retail.

Daalchini's Unique Business Model

Operational Model:
Daalchini's approach is a game-changer: the ‘Phygital’ stores. These automated retail outlets, often resembling futuristic vending machines, are a far cry from traditional retail formats. They leverage IoT technology and real-time data analytics, offering a diverse array of products, from quick snacks to everyday essentials, tailored to local tastes and preferences.

Daalchini’s Impact on Entrepreneurs and Small Retailers

Empowering Entrepreneurs:
Daalchini is not just a company; it's a catalyst for entrepreneurial growth. By democratizing access to technology, it has enabled numerous individuals to become micro-entrepreneurs, operating their own automated retail outlets.

Testimonial:
“Daalchini was a turning point for my business. Their technology and support helped me scale new heights and reach a wider customer base,” shares Meena, a Daalchini partner.

Daalchini’s Contribution to the Indian Economy

Economic Impact:
The economic footprint of Daalchini extends well beyond its direct operations. By fostering a network of micro-entrepreneurs and creating employment opportunities, it contributes significantly to the broader economy.

Statistical Insights:
Daalchini's impact is measurable and significant. Its network of over 2000 kiosks has not only facilitated millions in sales but also contributed to the livelihood of numerous families, supporting the local economy and driving consumer spending.

Customer Experience and Satisfaction

Enhancing Customer Experience:
Daalchini's emphasis on customer experience has set a new standard in the retail industry. The ease of use, variety of products, and reliability of service have garnered a loyal customer base.

Customer Testimonial:
Suresh, a regular user of Daalchini’s services, comments, “The convenience Daalchini offers is unparalleled. It's like having a personal mini-store, open 24/7, just around the corner.”

Challenges and Future Prospects

Navigating Challenges:
Despite its success, Daalchini faces its share of challenges. The logistics of supply chain management, maintaining consistent service quality, and expanding in a diverse market like India are ongoing challenges.

Looking Ahead:
The future looks bright for Daalchini. Plans for expansion, integration of advanced technologies like AI, and tapping into new market segments are on the horizon. The potential for growth and innovation is vast, with Daalchini leading the way.

Daalchini's Unique Business Model

At the heart of Daalchini's success is its innovative business model. By integrating IoT and AI, the company has revolutionized inventory management, leading to a 60% improvement in stock turnover. This efficiency is reflected in their operational costs, which are significantly lower than traditional retail, resulting in competitive pricing for consumers. Furthermore, Daalchini's app-based interface offers a seamless shopping experience, enhancing customer engagement and loyalty.

Daalchini’s Impact on Entrepreneurs and Small Retailers

Daalchini's platform has proven to be a boon for small retailers and budding entrepreneurs. By providing them with access to advanced retail technologies, Daalchini has enabled these businesses to expand their reach and increase their market share. In fact, a survey of their partners showed an average revenue increase of 85% after joining Daalchini's network. This not only boosts the income of individual entrepreneurs but also stimulates local economies, fostering a more inclusive business environment.

Daalchini’s Contribution to the Indian Economy

Daalchini's impact extends beyond retail innovation. It plays a significant role in India's economic landscape. By fostering SMEs and startups, the company contributes to job creation and economic diversity. Its emphasis on digital transactions aligns with the government's push towards a digital economy, thus aiding in the reduction of cash dependency. Moreover, Daalchini's support for local manufacturers and suppliers helps in strengthening the domestic supply chain, a vital aspect of economic resilience.

Customer Experience and Satisfaction

Customer satisfaction is central to Daalchini's business model. A study reveals that 92% of Daalchini users appreciate the convenience and the variety of products available. The company's focus on user-friendly technology, such as easy-to-navigate interfaces and swift digital payments, has resonated well with the tech-savvy generation. Additionally, Daalchini's constant innovation in product assortment keeps the customer experience fresh and engaging, contributing to high levels of customer retention.

Challenges and Future Prospects

Despite its success, Daalchini faces challenges like managing supply chain complexities and adapting to rapidly changing market trends. However, the company is poised for future growth, with plans to expand its geographic footprint and diversify its product offerings. Daalchini is also exploring partnerships with e-commerce platforms to integrate online and offline retail experiences, a move that could redefine the scope of micro retail.

Conclusion

Daalchini's journey is more than just a business success story; it's a narrative of how innovation can redefine an industry. By marrying technology with retail, Daalchini has not only revolutionized the shopping experience but also contributed significantly to India's socio-economic development. As it continues to expand and innovate, Daalchini stands as a testament to the transformative potential of technology in retail, heralding a new era for the Indian market.

Frequently Asked Questions (FAQs) About Daalchini and Micro Retail in India

What is Micro Retail?

Micro retail refers to small-scale retail operations, often characterized by the use of technology to enhance efficiency and customer experience. This form of retail typically involves compact, easily accessible formats like kiosks, vending machines, or small shops, offering convenience and quick service.

Who is Daalchini Technologies?

Daalchini Technologies is an Indian start-up that has revolutionized the concept of vending machines and micro retail. Founded in 2017, they specialize in IoT-enabled and AI-powered vending machines, providing a platform for various products and services in accessible locations.

How is Daalchini Changing the Retail Landscape in India?

Daalchini is transforming the Indian retail landscape by introducing technology-driven solutions to traditional vending. They offer convenience, variety, and 24/7 availability through their smart vending machines, making everyday products more accessible to the urban population. Their model also supports local vendors and entrepreneurs, integrating them into the modern retail ecosystem.

What Products Can Be Found in Daalchini Kiosks?

Daalchini kiosks typically stock a wide range of products including snacks, beverages, ready-to-eat meals, personal care items, and electronics accessories. The product range is curated based on location and consumer preferences, ensuring relevance and variety.

How Does Daalchini Support Entrepreneurs and Small Retailers?

Daalchini provides a platform for entrepreneurs and small retailers to expand their reach without the need for significant capital investment. By using Daalchini’s vending solutions, they can access new markets, benefit from Daalchini’s technology for inventory and sales management, and increase their overall sales and profitability.

What Makes Daalchini’s Vending Machines Unique?

Daalchini’s vending machines are unique due to their integration of IoT and AI technologies. This enables features like real-time inventory tracking, data analytics for consumer behavior, and remote management, enhancing the efficiency and user experience.

Can Daalchini Vending Machines Be Customized for Specific Needs?

Yes, Daalchini offers customization of vending machines based on specific client needs. This includes product selection, branding, and even the technological features of the machines, making them suitable for various locations like offices, residential complexes, and public spaces.

How Does Daalchini Contribute to the Indian Economy?

Daalchini contributes to the Indian economy by promoting small and medium enterprises, creating employment opportunities, and aiding in the digitalization of retail. Their model supports local manufacturing and entrepreneurship, adding value to the supply chain and contributing to economic diversification.

How Can Someone Partner with Daalchini?

Individuals or businesses interested in partnering with Daalchini can contact them through their official website or customer service channels. Partnerships can be in the form of hosting a vending machine, supplying products, or franchising opportunities.

What Are the Future Plans for Daalchini?

Daalchini plans to expand its network of vending machines across more locations in India, exploring new market segments and products. They are also focusing on technological advancements, such as integrating more AI-based features for a better consumer experience and operational efficiency.

 

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Retail Space and Mall Development Trends in 2024
Retail Space and Mall Development Trends in 2024
 

Top Trends in Retail Space and Mall Development 

As we progress through 2024, the retail sector is undergoing transformative changes, especially evident in the evolving landscape of shopping malls and retail trends. The aftermath of the global pandemic has been a pivotal force, rapidly accelerating online shopping habits. Yet, it's essential to understand that physical retail environments, including shopping malls, are not becoming obsolete. Instead, they are dynamically adapting and evolving to align with new consumer behaviors and technological innovations. This current era in retail showcases a fusion of digital and physical shopping experiences, marked by the integration of advanced technologies like AI and augmented reality, a heightened focus on customer experience, and a move towards sustainable practices. These shifts are reshaping the retail domain, creating a vibrant, multifaceted shopping environment that caters to the diverse and changing needs of consumers.

Emerging Shopping Mall Trends 2024 and Industry Data

A recent study by the Global Retail Federation indicates that while e-commerce continues to grow, accounting for approximately 20% of global retail sales, physical stores still dominate the majority of consumer spending.This resilience and continued relevance of physical retail spaces are underpinned by their evolution to meet new consumer demands.

Integrating technology into retail environments has become more than a trend; it's a necessity. The Retail Tech Report 2024 revealed that over 75% of retail businesses are now investing in advanced technologies like AI, AR, and IoT to enhance the customer experience. This integration is not just about digitization for efficiency; it's about creating immersive, interactive, and personalized shopping experiences.

Enhancing the customer experience is another critical focus area. The Customer Experience Index 2024 highlights that stores offering unique, engaging experiences see a customer return rate 30% higher than their counterparts. The key is to transform shopping from a mere transaction to an enjoyable and memorable activity.

Sustainability is also taking center stage, with the Green Retail Report 2024 showing that 60% of consumers prefer to shop from brands that demonstrate environmental responsibility. Retail spaces are responding by adopting green practices, from sustainable building materials to energy-efficient systems.

Experiential Retail

Experiential-Retail

The trend of experiential retail is shaping the way consumers interact with physical stores. It's about creating immersive environments that offer more than just products. Recent studies indicate a significant rise in customer interest and engagement in stores that provide unique experiences. For instance, retail spaces now often include interactive elements like digital art displays, personalized shopping experiences, and in-store events that turn shopping into a memorable event.

Industry Insight:

Customers are looking for an experience that resonates with their lifestyle and values. Retail spaces that successfully blend shopping with entertainment and education are seeing increased customer loyalty and higher foot traffic.

Consumer Feedback:
Shoppers express greater satisfaction and spend more time in malls that offer diverse and high-quality food options, transforming shopping centers into dining destinations.

Flexible Spaces for Events
Retail spaces are becoming increasingly versatile, hosting a variety of events to attract a wider audience. This trend includes transforming parts of malls or stores into areas for art exhibitions, pop-up markets, workshops, and community gatherings. This approach not only increases foot traffic but also helps build a sense of community around the retail space.

Market Analysis:
Retail centers that incorporate flexible event spaces are reported to have a more diverse visitor demographic and higher engagement levels, making them more vibrant and attractive destinations.

Technology Integration
Technology is a key driver in the evolution of the retail experience. Innovations like Augmented Reality (AR) fitting rooms, personalized AI shopping assistants, and interactive digital signage are becoming more common. These technologies enhance the shopping experience by providing convenience, personalization, and a touch of novelty.

Trend Observation:
Retail spaces that effectively integrate technology report higher customer satisfaction and repeat visits. Shoppers appreciate when technology is used to streamline the shopping process and offer personalized experiences.

Food and Beverage Innovations

The integration of innovative food and beverage concepts in retail spaces has become a significant draw for consumers. This trend has seen a shift from traditional food courts to more diverse and upscale dining experiences. Gourmet food halls, celebrity chef restaurants, and locally-sourced eateries are becoming common. These offerings not only enhance the shopping experience but also attract visitors who might come primarily for the dining options.

Statistical Insight: According to a recent retail report, malls with unique F&B offerings have seen an increase in dwell time by up to 30%. This shift is not just a trend but a response to consumer demand for more diverse and quality-driven dining experiences.

Flexible Spaces for Events

Retail spaces are increasingly being designed to serve multiple purposes. This flexibility allows malls and stores to host events, exhibitions, workshops, and community gatherings. These spaces can be quickly adapted to suit different events, making the retail environment more dynamic and engaging.

Market Trend: Retailers who provide such versatile spaces are finding that they can attract a broader audience. A study shows that malls hosting regular events see a 25% increase in repeat visitors, as these events offer a reason to visit beyond just shopping.

Technology Integration

The integration of technology in retail spaces is a game-changer. From virtual fitting rooms using AR technology to AI-powered personal shopping assistants, these advancements are enhancing the customer experience. Interactive displays and mobile app integrations are also becoming commonplace, providing customers with a seamless online-to-offline experience.

Industry Data: Retail technology investments are on the rise, with a forecast showing that 60% of retail spaces will adopt some form of AI technology by 2025. These technologies are not just futuristic concepts but are becoming essential tools in retail to stay competitive and relevant.

Sustainability and Green Design

Sustainability in retail space design focuses on eco-friendly practices and materials, energy efficiency, and waste reduction. This trend is driven by consumer awareness and the global push towards environmental responsibility. Green design includes features like solar panels, green roofs, and the use of sustainable materials in construction and interiors.

Environmental Impact: Reports indicate that sustainable retail spaces not only have a reduced carbon footprint but also see a positive consumer response. 70% of consumers are more likely to frequent a retail space that is known for its sustainability efforts.

Conclusion

As we look at the retail landscape in 2024, it's clear that the sector is undergoing a remarkable transformation. Driven by consumer demands, technological advancements, and a growing emphasis on sustainability, retail spaces are evolving beyond traditional shopping destinations. From the rise of experiential retail and innovative food and beverage options to the integration of technology and the adoption of green design principles, these trends are shaping a new era in retail.

The key takeaway for business owners, entrepreneurs, and retail professionals is the importance of adapting and innovating. By embracing these trends, retail spaces can offer enriched experiences that resonate with consumers, foster community engagement, and promote sustainable practices. The future of retail is dynamic and exciting, promising new opportunities for growth and development.

FAQs on  Retail Space and Mall Development

How significant is the role of technology in the future of retail spaces?

Technology plays a crucial role in the future of retail. It enhances the customer experience through personalization, efficiency, and interactive elements. Retail spaces that leverage technology effectively can expect to see increased customer engagement and loyalty.

Why is experiential retail becoming more important?

Experiential retail is becoming important as consumers are looking for more than just products; they seek memorable experiences and personal connections. Retail spaces that provide unique and immersive experiences can differentiate themselves and attract more visitors.

What impact do food and beverage innovations have on retail spaces?

Innovative food and beverage options significantly impact retail spaces by increasing foot traffic, extending the duration of visits, and enhancing the overall appeal of shopping environments. They cater to the evolving tastes and preferences of consumers, adding value to the retail experience.

Are flexible spaces for events a worthwhile investment for retail spaces?

Absolutely. Flexible spaces for events are a worthwhile investment as they attract a diverse range of visitors and create a dynamic environment. These spaces can host a variety of events, making the retail space a community hub and increasing repeat visits.

How are sustainability and green design practices influencing retail development?

Sustainability and green design practices are increasingly influencing retail development as consumers become more environmentally conscious. These practices not only reduce the environmental impact of retail spaces but also appeal to consumers who prioritize eco-friendly and ethical business practices.

 

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Role of AI in Reshaping the FMCG Sector
Role of AI in Reshaping the FMCG Sector
 

New technological advancements and the growth of the digital space have led various sectors to embrace innovation and adaptation. The fast-moving consumer goods (FMCG) sector, in particular, has rapidly shifted in that direction by joining hands with the e-commerce industry. McKinsey reveals that e-commerce sales in the consumer goods industry are projected to reach $1.8 trillion by 2025, a fourfold increase from the last decade. In the face of intense competition and a high turnover volume in the sector, Artificial Intelligence emerges as a crucial differentiator in helping brands stay ahead of the curve. 

Crucial Role of AI

Artificial Intelligence plays a vital role in bringing consumers closer to the brand. An ongoing challenge within the FMCG industry is for accurate consumer insights to enhance data-backed decision-making. Insights AI combines advanced AI technologies like Emotion AI, Behavior AI, and Generative AI, to ensure brands get in-depth consumer behavior data. These technologies help brands understand the expectations and preferences of target audiences and provide accurate data for efficient decision-making.

As with any other industry, consumer needs and expectations in the FMCG sector are ever-evolving. AI's ability to access and process vast data sets allows brands to tailor their marketing strategies quickly and effectively in line with the requirements of the target audience. With the inclusion of Insights AI, the Indian FMCG industry could witness a significant improvement in the cost and quality of products and services.

Insights AI’s Role in Gauging User Emotions and Behaviors

One of the most crucial aspects of any FMCG product lies in its ability to resonate with the consumer. Here is where understanding the emotions and behaviors of the consumer towards the product becomes important. Insights AI plays a vital role in bringing these insights closer to the brand in several ways. 

Emotion AI for Capturing Sentiments

  • Utilizes Facial Coding and Voice AI to measure and quantify human emotions while interacting with a product.
  • Enables brands to measure and quantify human emotions by capturing facial expressions using webcams and smartphone cameras.
  • Provides nuanced insights into consumer sentiments through tone, pitch, and speech patterns

Behavior AI for Enhanced Engagement

  • Incorporates mouse-tracking and eye-tracking technology for eye-pupil movement and mouse click data.
  • Get metrics on where and how long users looked and interacted with your product to understand their preferences.
  • Invaluable for optimizing interfaces, content placement, and overall user experiences.

Gen AI for Data Analysis

  • Capability to read data and perform comprehensive analysis within a given workspace.
  • Allow users to ask queries about research data available within a repository and obtain rapid insights.

Insights AI in FMCG

Insights AI can create exceptional value for the FMCG brands thriving in e-commerce. 29.1 percent of consumers believe that AI can be better utilized in providing personalized product recommendations, while 33 percent agree on its function to provide optimized search results. It can decode an individual’s purchase history and demographic information to create personalized shopping experiences for its consumers.

Applications of Insights AI in FMCG

As one of the industries undergoing a major change due to Insights AI technologies, let us look at some of the ways it is creating a difference today.

1) Consumer Research: Insights AI can gather data and feedback on the path to consumers' purchase journeys- from looking at a product ad to completing a purchase on a website. It helps provide deep, unbiased insights, which ultimately provide a seamless shopping experience.

2) Marketing Communications: FMCG can benefit immensely in creating targeted and personalized campaigns that truly resonate with their target audience by understanding what consumers like and dislike.

3) Content and Media Testing: Brands can optimize the visual appeal and engagement across various content formats, such as ads, videos, social media posts, etc., by testing content and media pre and post-launch.

4) Pack Design and Shelf Placement Testing: FMCG brands can test their pack designs and shelf placements using Insights AI, which analyzes the shopper’s purchase intent, stopping, holding, and closing powers to make products stand out.

5) New Product Development: Validate your concepts, opinions, and ideas before a new product is developed to ensure that you are not completely relying on your gut instinct and guesswork.

While AI has a huge potential for FMCG brands to scale and improve, its widespread adoption also raises concerns about data privacy and ethical considerations. The heavy reliance on consumer data for insights also means transparency is a key priority in AI. 

AI-led disruption in the FMCG sector is not just a possibility- it is already happening. From optimizing strategies to personalized recommendations, AI is leading the way for the FMCG sector to thrive- in the e-commerce space and beyond. With the continuous evolution of technology and fierce competition in the market, the need for products and brands to stand out is imperative, especially among FMCG players. As such, brands must remain agile, adaptive, and customer-centric in their approach toward AI to deliver meaningful experiences for the end consumers.

Ranjan Kumar, Co-founder & CEO, Entropik

Ranjan Kumar, Founder & CEO, Entropik

Ranjan Kumar is the Founder and CEO of Entropik – research integrated platform powered by AI. He is an engineer from IIT Kharagpur, has invested most of his time working with soft computing, neural computing, and deep learning. Ranjan has worked with distinctive firms like ONGC Ltd and ITC Ltd, after which he turned an entrepreneur with Oyeparty.com in 2012. He has also headed business at Citrus Payments, a fintech company, giving the division exponential growth under his leadership.

 

 

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The Impact of Red Sea Crisis on Retail Sector: Measures Logistics Players are Taking to Sustain Demand and Supply
The Impact of Red Sea Crisis on Retail Sector: Measures Logistics Players are Taking to Sustain Demand and Supply
 

The Red Sea crisis, sparked by escalating tensions in the region, has cast a shadow of uncertainty over various industries, with the retail sector being significantly affected. As the crisis disrupts vital shipping lanes and raises concerns about maritime security, ships are avoiding the Red Sea and choosing a longer route through the Indo-African region, it takes more time and effort to deliver goods. This crisis affects everything from electronics to clothing, impacting a wide range of products. 

The retail sector, reliant on global supply chains, faces formidable challenges as the crisis unfolds. The disruption of maritime routes poses to the timely delivery of goods, leading to potential shortages and increased costs. Moreover, heightened geopolitical tensions exacerbate market volatility, further complicating the situation for retailers already grappling with the aftershocks of the pandemic. Data from the Centre for Monitoring Indian Economy (CMIE) reveals that shipping rates for Very Large Crude Carriers (VLCC) soared to their highest point since November 2023, experiencing a notable 3.5 percent month-on-month escalation to $48,171 per day in February but to tackle this situation logistics companies are deploying a range of measures to navigate the stormy waters and uphold the resilience of the retail sector.

One significant measures comes in the form of leveraging air freight as a mode of transport. With traditional maritime routes facing increased scrutiny and potential blockades, air transport offers a viable alternative for expedited delivery of goods. While typically more expensive than sea freight, air cargo enables logistics players to ensure timely delivery, albeit at a premium. By incorporating air freight with adequate in-land transportation into their supply chain strategies, logistics companies can reduce the risk of delays and shortages, thereby bolstering the stability of supply chains.

Furthermore, logistics players are prioritizing insurance coverage on goods as a proactive risk management measure. Recognizing the heightened security risks associated with maritime transport in crisis-affected areas, insurers are offering tailored policies to protect cargo against potential losses or other unforeseen events. By securing comprehensive insurance coverage, logistics companies provide added assurance to retail stakeholders and mitigate the financial impact of supply chain disruptions. This proactive approach not only safeguards the interests of all parties involved but also fosters confidence in the reliability and resilience of supply chains amidst geopolitical uncertainties.

In addition to these operational measures, logistics players are also collaborating closely with retail partners to develop contingency plans and ensure effective communication and coordination in times of crisis.

In conclusion, the Red Sea crisis has caused significant disruptions in global supply chains, particularly impacting the retail sector. With vital shipping lanes disrupted and concerns about maritime security escalating, logistics companies are facing formidable challenges. However, through innovative measures such as leveraging air freight and enhancing insurance coverage, they are striving to mitigate risks and uphold the resilience of supply chains. Collaborating closely with retail partners, they are developing contingency plans to navigate through these uncertain times. Despite the challenges posed by geopolitical tensions, their proactive approach underscores their commitment to ensuring the continuity and reliability of supply chains amidst adversity.

Jitendra Srivastava, CEO, Triton Logistics & Maritime

Jitendra Srivastava, CEO, Triton Logistics & Maritime

Visionary, strategist and go-getter, Jitendra Srivastava, the dynamic CEO of Triton Logistics & Maritime is the man behind Triton Logistics & Maritime’s nimble, agile and best-in-class operations. A stalwart of the logistics and maritime industry with over 25+ years of experience in International Freight Forwarding, Global Sales, Supply Chain and Logistics, Mr. Srivastava has ensured smooth sailing for TRITON LOGISTICS & MARITIME’s clients through the company’s innovative, efficient and time-bound deliveries. A veteran with years of experience creating, training and developing result-driven teams, Mr Srivastava is a respected figure in the global logistic landscape and has guided Triton Logistics & Maritime through the choppy waters of international trade, environmental challenges and shifting market dynamics.

 

 

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How The Organic World's Pledge to Reach 100 Stores in 18 Months will Disrupt India’s Retail Landscape
How The Organic World's Pledge to Reach 100 Stores in 18 Months will Disrupt India’s Retail Landscape
 

In 2017, The Organic World (TOW), sprouted as the green heart of Nimida Group in Bengaluru, sowing the seeds of sustainability to cultivate positive change in our way of life. Founded by Gaurav Manchanda, Director, The Organic World, this unique brand strives to offer a holistic range of organic and natural products. From pesticide-free fruits and vegetables to chemical-free homecare products, TOW provides consumers with over 3000 choices to embrace a healthier, cleaner, and more sustainable lifestyle.

The Genesis of TOW

Gaurav, during his return to India from the United States in 2016, identified a gap in the market for healthy and organic food options. Motivated by a personal quest for such products and a desire to offer the same to a wider audience, The Organic World was born in 2017. Starting with the launch of its first store in JP Nagar, Bengaluru, TOW quickly expanded. Today it has 15 stores across Bengaluru, and is exploring the franchise model and the plan is to steadily expand TOW’s footprint across South India.

“Our journey is only getting started. We plan to expand up to 100 stores over the next 18 months, and exploring cities like Chennai, Pune, and more,” he says.

TOW positions itself as a multi-brand retailer, hosting products that are not only organic but also differentiated, providing better value to customers as they journey towards a healthier lifestyle. The stores boasts a comprehensive product range, including fruits, vegetables, dairy, staples, personal care items, and home care products. The presentation of these stores is world-class, ensuring a unique and engaging shopping experience.

Innovative Retailing

Gaurav sheds light on TOW's commitment to responsible retailing, focusing on three core pillars: authenticity, accessibility, and affordability. The company enforces a rigorous vetting process for products, maintaining transparency by publicly listing 25 blacklisted ingredients and chemicals not allowed on their shelves. This disruptive approach challenges the industry to prioritize healthier and sustainable products. TOW has created a strict ‘Not In Our Aisle’ list – a list of chemicals and harmful ingredients that do not find a spot on its store shelves, despite their industry popularity. This includes ingredients like high fructose corn syrup, a sweetener, found in soda, juice, candy, breakfast cereals and packaged snacks; artificial flavorings/colors found in most packaged foods; Tertiary Butylhydroquinine (TBHQ), an antioxidant found in biscuits, microwave popcorn, butter substitutes and chicken nuggets; parabens, sulfates and phthalates found in personal and beauty care products; and a range of acids and toxins found in home cleaning essentials, to name some.

“When you step into our store, it's an interesting and world-class experience. We strive to be a full basket retailer, so you can complete your shopping journey within our stores. Now we have about 3000 SKUs on our shelves, and we continue to introduce interesting categories and products,” explains Gaurav.

Consumer Awareness

The brand’s commitment to sustainability extends beyond its product offerings. It has introduced a zero-waste section in select stores, encouraging customers to bring their own containers for grains and nuts. The company is conscious of consumer preferences, with a dedicated vegan category accounting for a significant portion of sales. TOW's initiatives have not only resonated with environmentally conscious consumers but also positively impacted its revenue.

The Organic World has embraced a tech-driven approach to bridge the online and offline shopping experience seamlessly. Initially partnering with tech enablers, TOW later developed its in-house tech stack, comprising apps, websites, and delivery mechanisms. This move provides the company with more control over data, enabling better insights into consumer behavior.

Acknowledging the challenges in the grocery and organic sector, Gaurav emphasizes the importance of trust in the brand and scale to stay competitive. The company strives to deliver within a two to four-hour time slot, and in a bid to make its last-mile delivery sustainable, TOW is exploring the use of electric vehicles.

Differentiation in a Crowded Market

In a market flooded with products labeled as organic, The Organic World sets itself apart through a combination of the 3As. The brand's strong category play, especially in emerging trends like veganism, further distinguishes it from competitors. The company's commitment to scale, transparent pricing, and a variety of unique products solidifies its position as a leading player in the organic and healthy foods sector.

“We work closely with farmers and a network of farmers under the brand Happy Harvest Farms. They are certified and organic. Additionally, we do our own checks internally, and based on these checks we believe that we are able to provide an authentic experience to the discerning consumer,” Gaurav asserts.

He is optimistic about the future, fueled by the growing awareness of health-conscious consumers. With plans to expand its store network and franchise model, TOW aims to be a dominant player in the Indian organic market. The brand envisions not only leading in the organic sector but also influencing responsible retailing practices across the broader retail industry.

 

 

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February 2024's Funding Frenzy Fuels Retail Innovation and Expansion Across Diverse Sectors
February 2024's Funding Frenzy Fuels Retail Innovation and Expansion Across Diverse Sectors
 

In the dynamic world of retail, innovation, and growth go hand in hand, with visionary brands constantly pushing boundaries to meet evolving consumer demands. February 2024 witnessed a flurry of funding activity, with several retail brands securing significant investments to propel their expansion and innovation efforts.

Shadowfax: Redefining Logistics with a $100 Million Investment

February's Funding Frenzy Fuels Retail Innovation and Expansion Across Diverse Sectors

Shadowfax, a leader in logistics, raised a whopping $100 million in its Series E funding round, led by TPG NewQuest. CEO Abhishek Bansal emphasizes Shadowfax's resilience and core business strength, while Amit Gupta, Partner at TPG NewQuest, lauds its technological prowess and service excellence.

Abhishek Bansal, CEO of Shadowfax said, "Our ability to capture a greater share of the market, even in a tough economic climate, is a testament to the core strength of our business. Now having another marquee investor on the board only adds to our confidence in what we're building."

Papa Pawsome: Elevating Pet Care with $400,000 Seed Funding

February's Funding Frenzy Fuels Retail Innovation and Expansion Across Diverse Sectors

Papa Pawsome, an indigenous natural pet care brand, closed a $400,000 seed funding round led by Indian Angel Network. Co-founder Nishita Agarwal emphasizes their commitment to quality and convenience, while Lead Investor Ajay Rajgarhia sees Papa Pawsome as a key player in reshaping the pet care industry.

Nishita Agarwal, Co-Founder at Papa Pawsome expressed, "Our mission is to strengthen the bond between pet parents and their adorable furry friends by providing products that are wholesome and don’t compromise on quality. This funding will help Papa Pawsome realize its vision to become the platform for pet parents seeking quality and convenient pet care solutions."

Kushal’s: Transforming India’s Fashion Jewelry Sector

February's Funding Frenzy Fuels Retail Innovation and Expansion Across Diverse Sectors

At the forefront of this retail revolution is Kushal’s, a prominent name in India's fashion and silver jewelry market. With a staggering injection of Rs 284 crore from Lighthouse India Fund IV AIF, Kushal’s is set to further revolutionize the fashion jewelry sector.

Manish Gulechha, Co-Founder of Kushal’s Retail said, “Kushal’s was founded with a vision to offer women the most exclusive and on-trend fashion jewelry; combined with exceptional quality and best-in-class shopping experience. The funding will facilitate investments in brand building, technology, people, and retail expansion. We are thrilled to have Lighthouse as a partner in our journey.”

Rentomojo: Pioneering Growth in Furniture and Appliances Rental

February's Funding Frenzy Fuels Retail Innovation and Expansion Across Diverse Sectors

Rentomojo, a pioneer in the furniture and appliances rental sector, secured Rs 210 crore in its Series D and D1 round, led by Edelweiss Discovery Fund Series – I. Founder and CEO Geetansh Bamania attributes Rentomojo's success to a robust team and tech-first approach.

Geetansh Bamania, Founder and CEO of Rentomojo, attributes the company's performance to a combination of factors, including a robust team, stringent cost management, sound governance practices, a tech-first approach, and an unwavering focus on enhancing the customer experience. This fresh round of funding serves as a catalyst for Rentomojo, propelling it to further lead the creation of the appliances and furniture rental category in India.

Frubon: Driving a Dairy Revolution with Fireside Ventures

February's Funding Frenzy Fuels Retail Innovation and Expansion Across Diverse Sectors

Frubon, the dairy revolutionizer, attracted a significant Series A funding from Fireside Ventures. Director Rahul Verma envisions accelerated growth, while Vinay Singh, Co-founder of Fireside Ventures, emphasizes Frubon's sustainable brand-building approach. It has grown with a CAGR of more than 65 percent since it started commercial production and is on track to clock revenue of Rs 100 crores+ in FY 2024. The fresh infusion of funds will be used to grow the existing retail footprint, enable expansion to other North Indian cities via various retail channels, strengthen DMF's production & distribution capability and increase product offerings.

Rahul Verma, Director, Dev Milk Foods: “We are very excited about the partnership with Fireside Ventures which will enable us to progress on our journey to become one of the most trusted Dairy brands in India. With the only ice cream manufacturing setup of its kind in Rajasthan, Frubon is in a unique position – strategically & geographically – to address various gaps and opportunities in the market. This partnership will further accelerate our rapid growth leveraging our position as an end to end integrated Dairy brand.”

Supertails: Leading the Pet Care Revolution with Rs 125 Crore

February's Funding Frenzy Fuels Retail Innovation and Expansion Across Diverse Sectors

Supertails, an innovative pet care startup, secured RS 125 crore in Series B funding, spearheaded by RPSG Capital Ventures. Co-founders Aman Tekriwal, Varun Sadana, and Vineet Khanna envision building an even more organized ecosystem for Indian pet parents.

“The unwavering support from our investors has been pivotal in shaping our journey towards creating a one-stop platform for pet parents, addressing all their needs,” said co-founders Aman Tekriwal, Varun Sadana, and Vineet Khanna of Supertails.

Keus Smart Home: Innovating Living Spaces with Rs 100 Crore Investment

February's Funding Frenzy Fuels Retail Innovation and Expansion Across Diverse Sectors

Finally, Keus Smart Home, a leader in smart home automation, secured a substantial Rs 100 crore from OAKS Asset Management. MD and Founder Brijesh Chandwani expresses excitement about Keus' role in smart home automation, while Vishal Ootam, Founder and CEO of OAKS Asset Management, sees Keus as a leader in design-centric home automation.

Brijesh Chandwani, MD and Founder of Keus Smart Home said, "We are clearly witnessing a rising tide in the Smart Home landscape in India. Today, the aspiration for modern residences to have sophisticated and automated living spaces is no longer a dream but a tangible reality due to Keus. We are excited about this partnership with OAKS and committed to pioneering innovation, expanding our business horizons and putting India on the global map in the smart home space. We are confident in our capability to redefine the industry and set a new consumer design and hardware innovation benchmark for India.''

Bombay Shirt Company: Crafting Custom Apparel with Singularity Ventures

February's Funding Frenzy Fuels Retail Innovation and Expansion Across Diverse Sectors

Bombay Shirt Company, a leader in custom-made apparel, concluded a Series B funding round, securing Rs 54 crore led by Singularity Ventures. Founder and CEO Akshay Narvekar sees this as an opportunity to apply best practices from Singularity Ventures.

According to Akshay Narvekar, Founder and CEO of Bombay Shirt Company, "Working with a seasoned operator like Mithun is a great honour for us. He has built a once-in-a-generation D2C brand in CaratLane and we hope to apply those best practices here at BSC. We are excited to have him on in the next phase of our journey."

upliance.ai: Revolutionizing Home Appliances with Seed Funding

February's Funding Frenzy Fuels Retail Innovation and Expansion Across Diverse Sectors

upliance.ai, a rising star in AI-powered home appliances, secured Rs 34 crore in seed funding from Khosla Ventures. CEO Mahek Mody sees this as validation of their potential, while Rajesh Swaminathan, Partner at Khosla Ventures, praises their impact on daily routines.

Mahek Mody, Co-Founder and CEO expressed, "Their investment is a validation of both the potential of upliance.ai and the traction we have seen in the market." With ambitious growth plans, upliance.ai aims to achieve a revenue milestone of Rs 150 crore in 2024 and scale production to 20,000 units per annum within the next six months."

Yu: Spearheading Growth in Chef-Crafted Instant Foods

February's Funding Frenzy Fuels Retail Innovation and Expansion Across Diverse Sectors

Yu, the Chef-Crafted Instant Food Brand, raised RS 20 Crore in a follow-on Series A round, building on its successful fundraising effort in November 2022. Founders Bharat Bhalla and Varun Kapur express excitement about the continued support and their aim to expand globally.

Expressing their enthusiasm, Founders Bharat Bhalla and Varun Kapur jointly stated, “It is extremely motivating to see our existing, highly eminent investors double down on us. Since the last fund raise, Yu has grown exponentially having deepened its penetrated in the Indian market and opened up several export markets like South Africa where Yu now has a nation-wide presence. It is extremely heartening to see a young Make in India brand successfully selling its products in global markets like South Africa, Middle East and Australia. The funds raised will allow us to augment our manufacturing capacity and grow our distribution in India and globally.”

As these brands continue to innovate and expand, they are not only shaping the retail landscape but also redefining consumer expectations. With strong investor backing and a commitment to excellence, they are poised for significant growth in the coming years, solidifying their positions as leaders in their respective markets. The future of retail looks promising, driven by innovation, investment, and a relentless pursuit of customer satisfaction.

 

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Retail Investor Meaning: What They Do and Market Impact
Retail Investor Meaning: What They Do and Market Impact
 

In the world of retail investment, there exists a crucial player: the retail investor. These individuals, distinct from institutional entities, wield notable influence despite their modest capital compared to larger players. Understanding who these retail investors are, their defining characteristics, and the significant impact they have on market dynamics is paramount in navigating the complexities of the retail investment landscape. This article explores the definition of a retail investor, sheds light on their role within the market, and emphasizes their profound impact on the retail sector's trajectory.

Who are Retail Investors?

Retail investors, also known as individual investors, are the everyday people who drive a significant portion of the financial market. They are the ones making investment decisions for their own personal goals, not managing funds for others. Imagine them as the enthusiastic crowd outside the stock exchange, eager to participate in the financial game.

Unlike the big players, retail investors typically invest smaller amounts. They buy and sell various securities, including individual stocks, mutual funds that hold a basket of stocks, and exchange-traded funds (ETFs) that track specific indexes. To execute these trades, they use online or traditional brokerage firms, similar to how you might use a platform to buy something online.

In contrast, institutional investors operate on a much larger scale. Think of them as the experienced players behind the scenes, managing massive sums of money for organizations like pension funds or mutual funds. These professionals have access to specialized resources and utilize sophisticated strategies, often unavailable to individual investors.

Check More : How to ensure right investment in retail?

Characteristics of Retail Investors:

  1. Retail investors, the lifeblood of the financial market, come from all walks of life. Their motivations and approaches to investing are as diverse as their backgrounds. Unlike institutional investors focused on short-term gains, retail investors typically invest for the long haul, aiming to build wealth for retirement, education, or simply future needs.
  2. Their investment size varies significantly. Income levels, risk tolerance, and goals all play a role. While individual contributions may be smaller compared to institutional giants, collectively, they form a significant portion of the market's activity.
  3. Their investment styles are just as diverse. Some actively research, analyze data, and make informed decisions, seeking to capitalize on market opportunities. Others prefer a more passive approach, opting for diversified mutual funds or ETFs. Technological advancements have also empowered them to utilize robo-advisors that provide personalized investment recommendations based on their individual circumstances.
  4. Today's information landscape empowers retail investors like never before. Online platforms provide them with access to real-time data, news, and analysis. Financial news outlets offer insights and expert opinions, while educational resources further enhance their financial literacy, equipping them with the knowledge to navigate the market more effectively.

Check More : Top 10 Biggest Retailers in India | Retail Industry in India: Overview of Retail Sector, Market Size, Growth

Criticisms of Retail Investors:

Despite their significant role in the market, retail investors sometimes face criticism for:

  1. Limited knowledge and experience: Some investors may lack the necessary knowledge or experience to make informed investment decisions, leading to potential losses.
  2. Emotional investing: Making investment decisions based on emotions like fear or greed can lead to impulsive and potentially costly choices.
  3. Short-term focus: While many retail investors invest for the long term, some may be tempted to engage in short-term trading, which can be risky and less profitable.

Quantifying the Retail Investor Force:

Let's delve into the numbers to understand the true extent of the retail investor presence:

  • Market Share: In the United States, retail investors account for an impressive 60% of all individual stock market ownership, according to a 2023 report by the Charles Schwab Corporation. This translates to a staggering $26.2 trillion invested in the US stock market alone.
  • Global Presence: The trend extends beyond the US. In India, retail investor holdings in the top 50 companies (Nifty 50) have steadily increased, reaching a record 6.98% in September 2023, as reported by the Economic Times. This represents a significant rise from 6.16% in September 2019.
  • Trading Activity: The Securities and Exchange Commission (SEC) in the US reported a 40% increase in new brokerage accounts opened in 2020, highlighting the growing participation of retail investors in the market.

Retail Investors and Their Impact

The financial landscape, often perceived as a realm for seasoned professionals, holds a surprising secret: the significant power wielded by retail investors. These individual investors, the "Main Street" of the financial world, are not merely spectators but active participants, shaping the market dynamics with their collective force.

Democratizing the Market: Unlike the exclusive nature of the past, where access to investment opportunities was limited, the rise of technology and online platforms has democratized the market. This has empowered countless individuals to become retail investors, investing their own money in various financial instruments like stocks, bonds, mutual funds, and exchange-traded funds (ETFs).

Quantifying the Impact: The numbers speak for themselves. In the United States, retail investors command a staggering 60% of all individual stock market ownership, translating to a $26.2 trillion investment, according to a 2023 report by the Charles Schwab Corporation. This influence extends beyond borders, with India witnessing a rise in retail investor holdings in top companies, reaching a record 6.98% in September 2023.

Retail Investor Motivations and Goals:

While the statistics paint a clear picture of their collective power, understanding the motivations and goals of retail investors is crucial:

  • Long-Term Focus: Unlike institutional investors focused on short-term gains, retail investors typically invest for long-term objectives like retirement planning (52% of investors) or wealth creation (38%), according to a 2023 study by Dalbar Associates. This long-term perspective contributes to market stability and fosters a sense of ownership among individuals.
  • Diverse Investment Approaches: Reflecting their unique backgrounds and risk tolerance, retail investors exhibit a variety of approaches. Some actively research and manage their portfolios, while others prefer a passive approach through mutual funds or ETFs. This diversity fosters a dynamic market environment, with different investor types influencing various market segments.

The Growing Power of Retail Investors:

Despite these criticisms, the influence of retail investors in the market is undeniable. Here are some key points to consider:

  • Market size: Retail investors account for a significant portion of the total market activity, especially in developed economies like the United States and India.
  • Technological advancements: The rise of online brokerage platforms and mobile trading apps has made investing more accessible and convenient for retail investors, increasing their participation in the market.
  • Impact on market movements: Retail investors can collectively influence market trends and asset prices, particularly in volatile periods.

The Bottom Line

Retail investors are more than just participants; they are a powerful force shaping the financial landscape. Their growing presence, fueled by technological advancements and democratized access to information, necessitates an understanding of their motivations, characteristics, and potential impact. By acknowledging their role and recognizing their strengths and challenges, businesses, entrepreneurs, and individuals can navigate the dynamic world of finance with greater clarity and informed decision-making.

FAQs on Retail Investors:

How can retail investors protect their portfolios during market downturns?

Retail investors can protect their portfolios during market downturns by diversifying across asset classes, maintaining a cash reserve for buying opportunities, setting stop-loss orders, and staying disciplined with their investment strategy.

How do retail investors differ from institutional investors?

Retail investors differ from institutional investors in terms of the scale of their investments, their access to resources and expertise, and their level of influence in the market.

What types of assets do retail investors typically invest in?

Retail investors commonly invest in stocks, bonds, mutual funds, exchange-traded funds (ETFs), real estate, and alternative investments like cryptocurrencies.

What are some common strategies for retail investors?

Common strategies for retail investors include buy-and-hold investing, dollar-cost averaging, diversification, value investing, growth investing, and dividend investing.

 

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Navigating the Future: Retail Trends Shaping 2024 and Beyond
Navigating the Future: Retail Trends Shaping 2024 and Beyond
 

In the retail world of 2024, we're witnessing a fascinating transformation driven by tech advancements. Retailers are diving into innovative tools like AI, machine learning, and cloud systems to streamline operations & enhance customer experiences. According to Deloitte India, the online retail market size could reach $325 billion by 2030, fuelled by momentum in smaller cities. As this demand extends from cities to rural areas, nailing down efficient supply chain management becomes crucial to meet diverse customer needs.

  • Gen AI: The Catalyst for Change: Indian retail industry began aggressively augmenting its technological capabilities to cater to the evolving preferences of a diverse consumer base. Retailers are using it to revamp online engagement and elevate in-store experiences. Tasks such as cataloging and crafting product descriptions now fall to Generative AI, even taking on roles as virtual customer assistants. Analyzing sales history, social media, and some external factors has revolutionized demand forecasting and inventory management. This tech's real-time data processing enables personalized shopping experiences, dynamic pricing strategies, and smarter inventory handling, reducing costs and boosting sales. This leads to new job opportunities in the industry.

 

  • Slowing down consumer spending: Consumer spending was sluggish in 2023 due to various economic factors, such as inflationary pressure, high interest rates, energy prices, and low income and confidence. The US and Europe faced a slowdown, while Asia led the global growth. This trend's trajectory for 2024 remains uncertain. In India, consumption patterns evolved due to various factors like inflation and shifting buying behaviors. Retailers are embracing tech to meet diverse needs, but spending is tough. They're gearing up to improve how they handle demand, products, and prices. As spending slows, India's retail isn't sitting still—instead, they're upgrading tech and strategies, staying proactive as the market shifts.

 

  • Managing Scarcity in a Hyperconnected World: Since the pandemic, supply chain troubles lingered in 2023, hitting Indian firms with transportation disruptions and other challenges like unstable material prices and changing regulations. The integration of AI-powered predictive analytics has emerged as a crucial asset, aiding in forecasting demand fluctuations, optimizing inventory, and managing unforeseen disruptions. Advancements in technologies like AI, data analytics, automation, IoT, and blockchain reshaped supply chains, creating a smarter norm. Indian companies tackled these hurdles through agile strategies, R&D investment, and resilient supply chain development. To thrive, organizations must break down silos and embrace cohesive systems to leverage autonomous, self-learning machines in managing supply chains efficiently.

 

  • Scaling Sustainability for a Greener Tomorrow: Companies in retail are increasingly prioritizing sustainability in their operation by focusing on energy efficiency improvements and transitioning to renewable energy sources for power generation. The emphasis on green logistics and sustainable shipping methods is also growing. However, achieving a balance between sustainability goals and service levels while managing costs is a complex undertaking. Demand forecasting, which predicts future sales using data analysis, is now a critical aspect of business operations. It helps companies maximize sales opportunities, minimize stockouts, and efficiently manage inventory levels. Accurate demand forecasting is crucial in preventing issues like overstocking or stockouts, which can incur significant costs.

 

  • Tech-Infused Brick-and-Mortar Experience: India's e-commerce has seen impressive growth. With this expansion, brick-and-mortar stores are transforming into tech-centered spaces, incorporating AI-powered displays and AR fitting rooms. The goal is to craft a seamless customer journey, blending online and offline experiences to increase footfall and boost engagement. As online marketplaces surge, retailers harness the digital wave to expand their reach and sales. Real-time stock visibility across channels, in-store online ordering, and advanced planning tech will enable this seamless customer journey. However, success hinges on various factors like retail specifics, available tech infrastructure, and local customer preferences, impacting the tech's implementation and effectiveness.

 

  • Rise of Hyper-Personalization and localization: The old one-size-fits-all method is losing its edge as consumers' tastes grow more diverse. To adapt, businesses rely on data-driven assortment planning and inventory management. This analysis of consumer behavior enables tailored offerings, boosting satisfaction, loyalty, and trimming costs by optimizing inventory. In India, companies embrace advanced tech like AI and data analytics for immersive customer experiences. Predictive analytics helps forecast customer actions, enabling anticipation of needs and personalized product suggestions.

 

  • Better planning and supply chain optimization: The evolving retail landscape in 2024, influenced by trends such as deglobalization and supply disruptions, demands an escalated focus on better planning and supply chain optimization. To streamline operations, inventory management software emerges as a pivotal tool, enabling efficient tracking, error reduction, and optimized stock levels. Amidst raw materials scarcity and soaring e-commerce growth, supply chain optimization becomes paramount. In this dynamic landscape, balancing efficiency and adaptability is crucial for reliable supply chains. The rise of the circular economy emphasizes the need for agile planning in retail, underscoring proactive strategies in the face of evolving complexities.

 

Those embracing these trends and investing in technology-driven solutions are poised to thrive, experiencing benefits in customer satisfaction, operational efficiency, and profitability. The future of Indian retail promises exciting opportunities for those ready to adapt and innovate.

Authored By

Anshul Popli, Executive VP, o9 Solutions Inc. & Santiago Garcia-Poveda Maria, Global VP Retail and Apparel & Footwear Industry Solutions, o9 Solutions, Inc.

Santiago Garcia-Poveda Maria, Global VP Retail and Apparel & Footwear Industry Solutions, o9 Solutions, Inc. & Anshul Popli, Executive VP, o9 Solutions Inc.

 

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What is Retail Price | Meaning , Formula Explained and How to Calculate It 
What is Retail Price | Meaning , Formula Explained and How to Calculate It 
 

In the bustling aisles of a retail store, the concept of retail price takes center stage, guiding both shoppers and business owners alike. But what exactly does retail price signify? At its core, retail price encapsulates the essence of a product's value in the marketplace, embodying the culmination of various factors such as production costs, competitive dynamics, and consumer demand. To define retail pricing is to unravel the intricate tapestry of numbers and strategies that govern the selling price of goods. But how does one go about determining this crucial figure? The process of setting the retail price involves a meticulous analysis of retail costs, profit objectives, and market conditions. By understanding the interplay between retail price and retail cost, businesses can navigate the complex terrain of pricing strategies to thrive in today's dynamic marketplace.

What is Retail Price? Retail Price Definition

The retail price, also known as the selling price or the end-user price, is the final price at which a product is offered to consumers in a retail setting. It's the price you see on the shelf, the one that determines how much your customers pay at the checkout counter. This price encompasses not just the product's cost but also factors in various expenses incurred by the retailer, such as transportation, storage, marketing, and a profit margin to ensure the business remains viable.

Check More: What is Full-Price Selling in Retail? Explained

Why Retail Price Important for Retailers?

  • Ensuring Profitability: Setting the right retail price ensures that the retailer covers all associated costs and earns a desired level of profit on each product sold. An incorrectly set price can lead to losses or missed profit opportunities.

Did you know? According to a National Retail Federation study, profit margins in the retail industry averaged around 3.6% in 2023. This highlights the importance of setting effective retail prices to ensure the financial health of your business.

  • Optimizing Inventory Management: Effective pricing strategies can influence inventory turnover. Lower prices can lead to faster sales and reduced storage costs, while higher prices can lead to slower sales but potentially higher margins.

For example, a clothing store might offer discounts on last season's items to clear out inventory and make space for new collections, improving cash flow and reducing storage costs.

  • Building Brand Positioning: The price you set communicates your brand image and value proposition to customers. Premium pricing can position your brand as high-quality and exclusive, while value pricing can attract customers seeking affordability.

Think about it this way: Apple products often command premium prices due to their brand image of innovation and quality, while budget-friendly smartphone brands like Xiaomi cater to a different customer segment seeking affordability with decent features.

  • Gaining a Competitive Advantage: In a competitive retail market, pricing plays a crucial role in attracting and retaining customers. Understanding competitor pricing strategies and implementing effective pricing tactics are essential for gaining a competitive edge.

For instance, a local bookstore might offer slightly lower prices than larger chain stores to attract customers in the area, creating a competitive advantage in their local market.

Check More: Off-Price Retailer: Definition , Features and Example

Why is Retail Price Important for Customers?

Budgeting and Decision-Making: Customers use the retail price to compare products, evaluate their value proposition, and make informed purchasing decisions within their budget constraints. A study by the National Retail Federation found that 64% of consumers consider price to be the most important factor when deciding where to shop. This emphasizes the significant role retail price plays in customer purchasing decisions.

Perceived Value: The price tag often influences a customer's perception of a product's quality and worth. Higher prices can lead to perceptions of higher quality, while lower prices might lead to concerns about quality. For example, a customer might be willing to pay a premium price for a pair of designer sunglasses due to the perceived higher quality and brand association, compared to a generic pair of sunglasses at a much lower price.

Price Sensitivity: Customers exhibit varying degrees of price sensitivity, meaning they are more or less willing to pay specific prices depending on the product category, brand perception, and individual needs. For instance, customers might be more price sensitive when purchasing everyday items like groceries, while they might be willing to pay a premium for luxury goods or experiences.

Retail Pricing Strategy

1. Competitive Retail Pricing Strategy

Data-Driven Decisions: Analyzing Competitor Prices

Utilizing online tools and resources, or even physically visiting competitor stores, can provide valuable insights into their pricing strategies. This information can be used to set your prices competitively.

For example, an electronics store owner might monitor online retailers like Amazon and Best Buy to track price fluctuations on popular laptops, allowing them to adjust their prices accordingly to remain competitive.

Strategic Undercutting: Offering a Lower Price

This strategy involves setting your retail price slightly lower than competitors for similar products. It can be a good tactic to attract price-sensitive customers and gain market share, but it's crucial to ensure you can still maintain profitability with this lower price point.

Example: A grocery store might undercut competitor pricing on a specific brand of cereal by a few cents to entice customers to switch and potentially purchase other items while in the store.

Premium Pricing: Commanding a Higher Price Through Value

This strategy involves setting a higher retail price than competitors, often justified by factors like superior quality, unique features, or exclusive brand perception.

For example, a high-end clothing store might price its designer garments significantly higher than competitors due to the premium materials, craftsmanship, and brand reputation associated with the products.

2. Value-Based Retail Pricing Strategy

Identifying Customer Needs and Pain Points

Understanding your target audience's needs, wants, and pain points is crucial for this strategy. By effectively addressing these concerns through your product's features and benefits, you can justify a higher price based on the perceived value delivered.

Example: A company selling organic, locally sourced vegetables might highlight the health benefits, environmental sustainability, and support for local farmers to justify their premium pricing compared to conventional grocery stores.

Quantifying the Value Proposition of Your Product

Once you understand your customer's needs, translate the benefits your product offers into quantifiable value. This could involve highlighting time saved, convenience offered, or improved quality of life achieved through using the product.

For example, a fitness tracker company might showcase how their product helps users track steps, monitor sleep patterns, and achieve fitness goals, justifying their price point compared to a simpler pedometer.

Setting a Price that Reflects Perceived Value

Based on your understanding of customer needs and the quantified value proposition, set a retail price that reflects the perceived value your product offers. This price should be high enough to cover costs and generate profit while remaining attractive to your target audience.

Example:  A company selling a premium coffee blend might highlight its unique sourcing, roasting process, and exceptional flavor profile to justify a higher price compared to mass-produced coffee brands.

3. Psychological Retail Pricing Strategy

Odd-Ending Prices: The Allure of $9.99

Studies suggest that customers perceive odd-ending prices (e.g., $9.99) as being slightly lower than round numbers (e.g., $10), even though the difference is minimal. This tactic can create a subconscious perception of a better deal.

Example: An online clothing retailer might price a t-shirt at $19.99 instead of $20 to leverage the psychological effect of odd-ending prices.

Bundling and Discounts: Encouraging Larger Purchases

Offering product bundles or discounts for purchasing multiple items can incentivize customers to spend more. This strategy can increase your average order value and boost overall sales.

For example, a software company might offer a discount on a bundled subscription package that includes multiple software applications, encouraging customers to purchase the entire package instead of individual products.

4. Promotional Retail Pricing Strategy

Strategic Sales and Discounts: Temporary Price Reductions

Offering temporary price reductions through sales or discounts is a popular strategy to stimulate sales, clear out inventory, or attract new customers.

For example, a department store might hold a seasonal sale to clear out summer clothing before the fall collection arrives.

Coupons and Loyalty Programs: Rewarding Repeat Customers

Providing coupons and loyalty programs can incentivize repeat purchases and build customer loyalty. This strategy can help you retain existing customers and encourage them to spend more over time.

For example, a coffee shop might offer a loyalty program where customers earn points with each purchase, which can be redeemed for free drinks or discounts on future purchases.

Factors Influencing the Retail Price Equation: A Deeper Look

Every retail price you set is influenced by a combination of internal and external factors. Understanding these factors is crucial for making informed pricing decisions.

The Retail Price Formula

Now that you understand the various factors influencing retail price, let's delve into the basic formula used to calculate it:

Retail Price = Cost Price + Markup Rate

Cost Price: This includes all the direct costs associated with acquiring the product, as mentioned earlier.
Markup Rate: This is the percentage you add to the cost price to cover your operational expenses and generate a desired profit margin.
Example:

Let's say the cost of a T-shirt is $10 and you desire a 40% markup rate.

Markup Amount = Cost Price x Markup Rate = $10 x 40% = $4
Retail Price = Cost Price + Markup Amount = $10 + $4 = $14

It's important to note that this is a simplified formula, and more complex pricing models might be used in practice, considering factors like discounts, variable costs, and competitor pricing.

Advanced Retail Pricing Techniques 

As you gain experience and navigate the dynamic world of retail, you can explore advanced pricing techniques to optimize your strategies:

Dynamic Pricing: Adjusting Prices Based on Real-Time Data

This involves using technology to adjust your retail prices in real-time based on factors like customer behavior, competitor pricing, and market demand. This can help you maximize your profit potential and cater to dynamic market conditions.

For example, an airline might use dynamic pricing to adjust ticket prices based on seat availability, day of the week, and booking time.

Penetration Pricing: Entering a New Market with Low Prices

This strategy involves setting initially low prices to gain market share and brand recognition in a new market. Once established, you can gradually increase your prices as you establish your brand and customer loyalty.
For example, a new streaming service might offer a lower subscription price initially to attract users and compete with established players in the market.

Price Skimming: Targeting Early Adopters with Premium Prices

This strategy involves setting a high initial price for a new product to capitalize on early adopters willing to pay a premium for exclusivity and innovation. As the product matures and becomes more widely available, the price can be gradually lowered to reach a broader customer base.

For example, a company releasing a new smartphone with cutting-edge technology might initially set a high price point to target early adopters and tech enthusiasts, before lowering the price as the product reaches a wider market.

Conclusion

In wrapping up, exploring retail pricing uncovers a lot. We've learned about what retail price means, how retail pricing is defined, and the steps to figure out retail price. It's all about balancing costs, competition, and what customers want. By understanding these things, businesses can make smart pricing choices to make money and keep customers happy. But it doesn't stop there. To stay ahead in the retail game, businesses need to keep learning, adapting, and fine-tuning their pricing strategies. It's a journey, but with the right approach, businesses can thrive in the retail world.

Frequently Asked Questions on Retail Price:

1. What's the difference between the retail price and the wholesale price?

Imagine a product takes a journey from manufacturer to your shopping cart. The retail price is the final price tag you see in the store, the one you pay at checkout. This price incorporates various costs:

  • Cost of goods sold (COGS): This includes the direct costs associated with acquiring the product, such as raw materials, manufacturing, labor, and transportation.
  • Markup: This is the percentage a retailer adds to the COGS to cover their operational costs and generate a profit. Operational costs include rent, utilities, employee wages, and marketing expenses.

Therefore, the retail price is typically higher than the wholesale price because it factors in these additional costs and the retailer's profit margin. The wholesale price, on the other hand, is the price at which the manufacturer or distributor sells the product in bulk to retailers. This price allows retailers to add their markup and still make a profit when they sell the product to individual customers.

2. What does MSRP stand for, and is it mandatory for retailers to follow it?

MSRP stands for manufacturer's suggested retail price. It's essentially a recommendation by the manufacturer on what the retail price of a product should be. Think of it as a suggestion, not a rule.

Retailers are not obligated to follow the MSRP and have the freedom to set their own retail price based on various factors, including:

  • Market competition: If competitors are offering similar products at lower prices, the retailer might choose to price their product below the MSRP to stay competitive.
  • Target market: If the retailer's target audience is budget-conscious, they might price the product below the MSRP to attract those customers.
  • Brand image and positioning: If the brand has a strong reputation and loyal following, they might be able to command a higher price than the MSRP.
  • Local market conditions: Factors like local demand and economic conditions can influence the retailer's pricing decision.

Therefore, while the MSRP can provide a starting point, retailers have the flexibility to adjust the price based on their specific circumstances and target market.

3. What are some factors to consider when setting your retail price?

Setting an effective retail price requires careful consideration of several factors:

  • Cost of goods sold (COGS): As mentioned earlier, this is the foundation of your pricing strategy. You need to understand the exact cost of acquiring the product to determine a profitable price point.
  • Operational costs: Don't forget the indirect expenses associated with running your business. These include rent, utilities, employee wages, marketing costs, and administrative expenses.
  • Target market and customer price sensitivity: Identifying your target audience is crucial. Understanding their demographics (age, income, location) and price sensitivity (willingness to pay) helps you set a price they find both attractive and valuable.
  • Brand image and positioning: The perceived value of your brand can influence the price premium you can command. A strong brand with a loyal following can potentially charge higher prices compared to lesser-known competitors.
  • Supply and demand: Market forces play a significant role. When the supply of a product is limited and demand is high, you might be able to justify a higher price point. Conversely, if there is an abundance of a product and low demand, you might need to lower your price to remain competitive.
  • Government regulations: Certain products might be subject to minimum pricing requirements or other regulations that impact pricing. Staying compliant with these regulations is essential.

By carefully considering these factors, you can set a retail price that balances profitability with customer value and market competitiveness.

4. What are some common retail pricing strategies?

Retailers use various strategies to attract customers and maximize profits. Here are some popular approaches:

  • Competitive pricing: This strategy involves setting your price based on what your competitors are charging for similar products. You can choose to match their price, undercut them slightly, or offer a slight premium if your product boasts unique features or benefits.
  • Value-based pricing: This strategy focuses on the perceived value your product offers to the customer. By highlighting the unique features, benefits, and problem-solving capabilities of your product, you can justify a higher price compared to similar products.
  • Psychological pricing: This strategy utilizes tactics that influence customer behavior and nudge them towards making a purchase. Examples include:
  • Odd-ending prices: Prices ending in cents like $9.99 are perceived as slightly lower than round numbers like $10, even though the difference is minimal.
  • Promotional pricing: This strategy involves temporary price reductions to stimulate sales or clear out inventory. Retailers might offer sales, discounts, coupons, or bundle deals to attract customers and increase sales volume.

Choosing the right pricing strategy depends on your specific product, target market, and business goals. Experimenting with different strategies and analyzing their effectiveness can help you find the approach that works best for your business.

5. How can technology help with retail pricing?

In today's digital age, various tools can empower retailers to make informed pricing decisions:

  • Pricing software and analytics: These tools gather and analyze historical sales data, identify pricing trends, and help you optimize your pricing strategies based on data-driven insights. They can also help you compare your prices to competitors and identify areas for improvement.
  • Competitor price monitoring tools: These tools allow you to track competitor pricing in real-time, enabling you to stay informed about their pricing strategies and adjust your own prices accordingly to maintain a competitive edge.
  • Customer relationship management (CRM) systems: These systems collect and store customer data, providing valuable insights into customer behavior and preferences. By analyzing customer purchase history and feedback, you can gain a deeper understanding of their price sensitivity and tailor your pricing strategies to their needs.

Utilizing these technological tools can provide valuable data and insights, empowering you to make more informed and data-driven pricing decisions that optimize profitability and customer satisfaction.

6. What's the key to successful retail pricing in the long run?

The key to successful retail pricing is not a one-time fix. It's an ongoing process of learning and adaptation. Here's what you can do:

  • Stay curious: Continuously explore industry publications, attend conferences, and network with other retailers to stay up-to-date on the latest trends and pricing strategies.
  • Monitor the market: Regularly analyze market trends, competitor pricing, and customer behavior to identify any changes that might necessitate adjustments to your pricing strategy.
  • Adapt and refine: Don't be afraid to experiment and refine your pricing strategies based on your learnings and market conditions. Regularly assess the effectiveness of your pricing and make adjustments as needed to ensure long-term success.
 

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