While there was a 6 to 7 per cent increase in volume compared to last year in the first few days of the month which coincided with festivals, a large part of the demand is yet to hit the market.
'All competitors are sourcing within the country, so we'll be at the same level of competition.'
Will it be Noel Tata, Ratan Tata's half brother?
West Bengal is home to 43,000 Durga Pujas, and the business around it is a major economic driver.
Fast-moving consumer goods (FMCG) distributors' association has written to the Ministry of Commerce and Industry, expressing its apprehensions that the "unchecked expansion" of quick commerce platforms was leading to severe disruptions in the retail ecosystem. India Consumer Products Distributors Federation on Thursday shot an email to the government, saying that significant challenges were posed by the rapid growth of quick commerce platforms such as Blinkit, Zepto and Instamart to the traditional retail sector and the FMCG distribution network in the country.
Retailers are set to end a prolonged period of sluggish sales as the end-of-season sales (EOSS) coincide with the upcoming long weekend. Apparel and lifestyle retailers have faced challenges since the festival season last year. However, with EOSS, which began in June, sales have started to recover, showing noticeable improvement in July and August.
'Customers are coming in; if they aren't buying, they are at least visiting the stores, which was not the case before the Budget.'
The Budget proposals are expected to boost the fortunes of consumer goods and fast-moving consumer goods companies, which have been struggling with poor consumer demand for more than a year. The Budget announcements, such as the increase in standard deduction by Rs 25,000 for income-tax payers and slab revisions, will put more money in their hands, boosting consumer demand. Private consumption is also likely to benefit from a new scheme to offer internships to 10 million youths in the country's top 500 companies.
Vivek Biyani, the nephew of retail veteran Kishore Biyani, will launch a retail chain focused on direct-to-consumer (D2C) brands under the name Broadway, along with actor Rana Daggubati, Apurva Salarpuria of Salarpuria Group and Anuj Kejriwal of Anarock Retail. This new retail format is a multi-brand outlet, which will house D2C brands under one roof. The first store is set to open in Delhi in August this year, and subsequent store launches in Hyderabad and Mumbai are slated in September 2024 and March next year, the company said in its release.
Subhash Dandekar, chairman emeritus of Kokuyo Camlin and the man known for bringing colours to artists as well as students in the country, passed away on Monday at 85.
Hindustan Unilever (HUL) will closely assess the global initiatives of its parent under the productivity programme and evaluate what works best for its business and people, said the company. The statement from HUL comes after its parent Unilever recently told its employees that it will cut a third of office-based jobs in Europe by the end of 2025. "We will closely assess the global initiatives of Unilever under the productivity programme and evaluate what works best for our business and our people," HUL told Business Standard.
The spring/summer end-of-season sales have been advanced by a week with brands having high inventories due to weak demand in May because consumers avoided shopping in the hot month.
The prospective bidders of Haldiram Snacks Foods (HSFPL), a leading food firm, have sought clarity on the ownership of the brand as it is currently owned by different family factions. The Delhi and Nagpur families have decided to merge their operations and formed a joint venture to sell part of their stake. On the other hand, the Kolkata family runs its separate, independent operations. Bankers said prospective bidders of the company do not want any confusion over the brand in future. They have sought clarity over usage of the brand.
Since 2008, the Bureau of Energy Efficiency is running a star rating programme, under which electric equipment are rated according to their efficiency. This in turn helps the consumers save electricity.
'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.'
'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.
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.
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