HIGH DEMAND FOR PREMIUM ITEMS
• Most consumer goods categories see 10-15% growth over last year
• Redseer estimates that sales through online channels grew by a fourth during the festival sales to $32,000 crore
• This growth is 68.4% higher than prepandemic days in 2019
• Share of mobile handsets down to 46% in 2021 from 53% 2018
• Industry executives say sales growth of automatic washing machines in high double digits, butsemi-automatic in single digits
• 43-55 inch and higher ultra-HD smart TV sets selling the fastest, followed by 65-inch category
• Sales of refrigerators larger than 350 litres growing by 20%
Defying negative sentiment, the country's leading manufacturers of consumer goods have managed to regain growth momentum this festive season.
After nearly two years of pandemic induced disruption and poor economic activities, sales in all key consumer categories have spiked since early October, primarily driven by the online channel.
From packaged foods to home appliances and personal electronics, most consumer goods categories have registered 10-15 per cent growth over last year, when sales remained flat.
Continue reading your story on the app
Continue reading your story in the newspaper
Waning Demand For iPhone 13s Points To Consumer Caution
Apple just offered a new reason to be worried about the state of the consumer. The company is telling suppliers of waning demand for its iPhone 13. The warning suggests shoppers have either satiated their appetite for new stuff or are uneasy about extravagant purchases in a world of soaring prices and a pandemic that refuses to go away. Throw in the new omicron mutation, and it's a heady mix for shoppers.
Omicron May Cause Reinfections, Fuel A Surge In Cases, Say Experts
This is evident from the steep rise in cases in S Africa where new variant has overtaken Delta as predominant strain in circulation
Strategy to adopt blockchain into govt systems released
MeitY wants states to develop state-specific blockchain apps on shared infra
Omicron, Fed's hawkish tone pull indices down
However, markets see weekly gains for the first time in 3 weeks
CV sales surge 11% YoY in Nov on reopening bounce
Pickup in economic activities, low base from last year help numbers
India's First Two Omicron Cases Detected In K'taka
One is local, another South African national; govt says no need to panic
First 'buy report on Paytm sees firm turning profitableby 2026
Paytm, which has moved wildly since its listing after India's largest initial public offering, has received the first buy rating from a brokerage that expects the company to turn profitable by March 2026.
EU fines Barclays, HSBC, Credit Suisse for forex cartel
EU antitrust regulators on Thursday fined Barclays, Credit Suisse, HSBC, and NatWest €344 million ($390 million) for foreign exchange market rigging, closing a key chapter in a high-profile investigation.
India reaches 40% non-fossil fuel capacity in Nov, 9 years ahead of target
India has achieved the target of 40 per cent of its installed electricity generation capacity being from non-fossil energy sources, an official statement said on Thursday.
Credit card spend crosses ₹1trn first time in amonth
Buoyed by the festival season euphoria, credit card spends for the first time crossed ₹1 trillion in a month in October, revealed the latest figures released by the Reserve Bank of India (RBI) on Thursday.
With significant user traction and investor interest, the cloud kitchen business is entering the inevitable phase of disruption, but with no clear winners yet
SMALL CITIES AND TOWNS ARE DRIVING ONLINE SALES DURING THE FESTIVE SEASON AS TOP E-COMMERCE PLAYERS STEADILY MAKE INROADS INTO TIER III TOWNS AND BEYOND
BRANDS BRIDGE THE DIGITAL DIVIDE
The future focus for marketers must reside in striking the perfect balance between online and offline retail
ADVANTAGE: CLOUD KITCHEN
Many restaurants shifted towards cloud kitchens during the pandemic, using their existing kitchens for takeaway and delivery orders. This trend is likely to continue as customer footfalls remain dismal
IT REMAINS THE BACKBONE FOR DIGITAL PAYMENTS COS' SUCCESS
Three strategic themes in IT that help in structurally scaling up technology in any digital payments company and make it a driver for business growth
97% of TikTok's userbase in India captured by local players
AFTER popular Chinese short video app TikTok was banned by the Indian government in June last year, home-grown players in the segment have been able to acquire nearly 97 per cent of the platform’s daily active userbase (DAUS), a report released by consulting firm Redseer said on Wednesday.
WHY THE BFSI SEGMENT NEEDS TO BEEF UP ITS CYBER SECURITY INFRASTRUCTURE
Sandeep is a cybersecurity professional with 9+ years of experience bringing together the best security experts to simplify the complicated cybersecurity problem. In 2019, Sandeep founded and introduced two products to the cybersecurity industry. The first one, BugDazz, a Pentest as a service and the second one, AuthSafe, for fighting with online frauds.
E-tailers Buck The Slowdown Blues
Festival season sales, rise in non-metro shoppers drive growth