As quick-commerce players find their foothold among consumers, brands are all set to step up their presence on these platforms.
'Customers flocked to purchase gold in large numbers during the event.'
'We are seeing signs of improvement in rural overall in terms of demand, but I would still keep my fingers crossed.'
Indian smartphone sales, traditionally dominated by the entry and mid-range segments, are set to change as high-end and super-premium devices capture consumer attention. The premium category is expected to grow by more than 20 per cent in calendar year (CY) 2024 compared to the previous year. While the overall smartphone market is expected to w
'Although currently, urban areas contribute more to growth than rural, there is no reason why rural areas should not contribute.'
'Our target will come from rural areas as there are more outlets there.'
With rising incomes, education, and health awareness in India, especially in the big cities, droves of people are saying no to sugar.
Food delivery major Swiggy has received approval from its shareholders for a $1.25 billion initial public offering (IPO), according to filings made with the Registrar of Companies sourced by Tofler. The Bengaluru-based firm plans to raise as much as Rs 3,750 crore (around $450 million) via a fresh issue and up to Rs 6,664 crore (around $800 million) through an offer-for-sale (OFS) component, the filings stated.
The Food Safety and Standards Authority of India (FSSAI) has commissioned a quality check on MDH and Everest products. This follows complaints that several popular spice mixes of the two leading brands contained traces of ethylene oxide more than the permissible levels, official sources said. This move by FSSAI comes after Hong Kong and Singapore recalled variants of the two masala majors' products in their countries.
Consumer goods firms and auto companies are witnessing an upturn in rural demand, which had been lagging for most of FY24. Expectations of a bumper rabi crop harvest have helped turn the tide. The Reserve Bank of India's (RBI's) Monetary Policy Committee kept the repo rate unchanged last week, noting that as rural demand catches up, consumption is expected to support economic growth in 2024-25.
Fast-moving consumer goods (FMCG) companies anticipate sustained volume pressures in the January-March quarter (Q4) coupled with sluggish rural growth during the period. Brokerages estimate top-line growth to be in low single digits in the quarter. Also, the late onset of winter had an impact on demand for winter products which range from moisturisers to hot beverages.
Consumers may have to shell out more to buy television panels as manufacturers say they may raise prices again in April. The industry has been facing this issue of price rise post the pandemic and open cell prices have gone up by around 30 per cent in the last one year. And, television panel manufacturers expect this trend to continue.
Furniture retailer Ikea India on Thursday said it will shut down its store in Mumbai's R City Mall by the middle of this year and explore omnichannel formats in the city. The store at R City Mall, which is spread across 72,000 sq ft, opened in June 2022 to test the viability of small-format stores. The company's plan to shut down the store illustrates the concerns surrounding the viability of running a small-format store, given the rising rentals.
The third quarter (Q3) of 2023-24 (FY24) has proven to be pivotal, witnessing some startups turning profitable and others enhancing their performance as their businesses finally begin to deliver. Startups like Delhivery, Zomato, PolicyBazaar, Mamaearth, and Nykaa have either become profitable or improved their profit margins in Q3FY24. A renewed focus on profitability, supported by operational efficiencies, expense rein-in, and robust demand during the festival season, has empowered companies to strengthen their performance.
Fintech major PhonePe on Wednesday announced the launch of its homegrown Indus Appstore specifically for the Indian market, in a bid to compete with global incumbents like Google Play Store and Apple's App Store. The Indus Appstore is PhonePe's attempt at creating a more competitive and localised mobile app store economy for India, which is already the world's largest market for mobile apps.
Byju Raveendran, chief executive officer (CEO) and co-founder of Byju's, along with its nearly 51 investors, are responsible for the beleaguered edtech firm's current predicaments, said Ronnie Screwvala, executive chairman and co-founder of edtech platform UpGrad. Speaking at the second edition of the ASU+GSV & Emeritus Summit in Gurugram, he emphasised that "one rotten apple" should not affect the entire edtech sector.
'In staples, we have still managed in rural areas.'
Leading up to Valentine's Day on February 14, quick-commerce platforms like Blinkit and Swiggy Instamart have witnessed a phenomenal uptick in the sales of products related to the occasion, such as roses and chocolates. Meanwhile, e-commerce giants like Amazon and Flipkart have gone live with their respective Valentine's Day sale events, offering generous discounts on products. Sales of chocolates and roses on Zomato-owned Blinkit shattered previous records at the beginning of this year's Valentine's Day week, on February 7, which is celebrated as Rose Day.
'What has happened at Byju's is no surprise to anyone.'
Layoffs, corporate restructuring, governance and most importantly profitability: The 14 Indian startups that plan IPOs this year are pulling out all the stops to ensure successful market debuts.
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