Indian Retail Industry

Aditya Birla Fashion and Retail Ltd on Wednesday reported a widening of consolidated loss after tax at Rs 214.92 crore in the first quarter ended June 30, 2024, impacted by higher expenses in a subdued consumption environment. The company had posted a consolidated net loss after tax of Rs 161.62 crore in the same quarter last fiscal, Aditya Birla Fashion and Retail Ltd (ABFRL) said in a regulatory filing. Consolidated revenue from operations stood at Rs 3,427.82 crore in the first quarter as against Rs 3,196.06 crore in the year-ago period, the company added. Total expenses in the quarter were higher at Rs 3,724.89 crore as compared to Rs 3,458.02 crore in the year-ago period. "Businesses continued to navigate through a subdued consumption environment which was further exacerbated by a prolonged heat wave and weak wedding season," the company said. Net profit at a consolidated level was impacted due to continued investments in digital-first fashion brands TMRW and losses in premi

The Indian retail market is one of the fastest growing markets in the world, expected to cross USD 1.4 trillion by 2027, said the latest annual report of Reliance Industries (RIL). RIL operates the country's leading retailing firm Reliance Retail. India is poised to become the third-largest retail market by 2030, the report said adding the growth is propelled by factors like increasing urbanisation, rising income levels, expanding female workforce, and an aspirational young population. Moreover, a rising demand for premium and luxury products further fuels this growth trajectory, reflecting the evolving preferences with rising disposable incomes. This growth extends across various town classes, benefiting numerous local, regional and international brands and manufacturers. "They are being connected with consumers across diverse markets, thereby actively participating in India's ongoing growth narrative," said Reliance. Segments such as grocery, fashion and lifestyle and consumer

Cigarette maker Godfrey Phillips India on Friday said it has decided to exit from its loss-making retail business 24Seven. The board of the company in a meeting held on Friday "decided to exit from carrying out the business operations of its Retail Business Division," said a regulatory update from Godfrey Phillips India. Godfrey Phillips India was operating 150 stores/kiosks of 24Seven as of December 2023. A decision in this regard was taken following a detailed review of the company's retail business division and after due consideration of the stakeholders' feedback, long-term performance, prevailing market conditions of the retail sector and long-term business strategy of the company, it added. "The exit will be subject to completion of the necessary formalities," it said. Revenue of 24Seven in FY23 was Rs 396 crore, contributing 9.3 per cent of the total revenue from operations for the company. "The Retail Business Division had a negative net worth as on 31st March 2023 on acc

Retail inflation for farm workers rose to 7.37 per cent and that for rural labourers climbed to 7.13 per cent in November, mainly due to higher prices of certain food items. Retail inflation in October was 7.08 per cent and 6.92 per cent for farm workers and rural labourers, respectively, according to an official statement. Food inflation stood at 9.38 per cent and 9.14 per cent for agricultural and rural workers, respectively, in November compared to the respective figures of 8.42 per cent and 8.18 per cent in October 2023, and 6.19 per cent and 6.05 per cent recorded in the corresponding month of previous year (November 2022), a labour ministry statement said. According to the statement, point-to-point rate of inflation based on the CPI-AL (Consumer Price Index-Agricultural Labourers) and CPI-RL (rural labourers) stood at 7.37 per cent and 7.13 per cent in November this year as compared to 7.08 per cent and 6.92 per cent, respectively, in October 2023. The two comparable numbers

Reliance Retail (RR), the country's largest retailer, added the most number of employees at about 60,000 in FY23

According to JLL India's report, India continues to be a preferred market for international brands

A seminar on 'New Age Risks' was organised by Ficci to discuss and debate the trend of traditional risk parameters and emerging risks that may impact the industry

Top-line growth to be healthy on a low base

The Indian retail market is one of the fastest growing in the world and is expected to reach USD 2 trillion by 2032, according to Reliance Retail Director Subramaniam V. The Indian retail market is estimated at USD 844 billion in 2022 with the unorganised retail market contributing around 87 per cent of the share, he said. "The retail market is projected to grow at 10 per cent annually to reach a whopping 2 trillion by 2032 making it the fastest growing retail market of the world," Subramaniam said at an event organised by industry body FICCI here. Talking about the unorganised retail segment, Subramaniam said it is highly fragmented and lacks modern day infrastructure and technology due to smaller volume and financial resources. Subramaniam said there is a need to build an operating environment which promotes inclusive and sustainable growth for the sector and government policies and business practices of the big players must support the inclusive growth for the small players of t

India's retail industry saw a 19 per cent rise in sales over pre-pandemic levels during the April-November 2022 period riding on the back of strong performance of segments such as quick service restaurant and footwear, Retailers Association of India (RAI) said on Friday. Region wise, the eastern part clocked the highest growth at 21 per cent as compared to the same period in 2019, RAI said in a statement. North India followed with a 19 per cent growth while both western and southern parts witnessed an 18 per cent rise each, it added. "The industries that did particularly well during this period were the QSR (quick service restaurant) and the footwear industries, with a 30 per cent growth compared to 2019," RAI said. However, the beauty, wellness and personal care industry only saw a 7 per cent growth as against the same period in 2019, it added. "Consumers are back to shopping in stores, and it's something they enjoy even as they continue to buy online," RAI CEO Kumar Rajagopalan

Aditya Birla Fashion and Retail (ABFRL), Page Industries, Bata, TCNS Clothing Company, Trent, and Reliance Retail all saw their revenue hit all-time highs in the first quarter

E-commerce in the country is expected to reach $130 billion by 2026, as compared to $45 billion in 2021, according to the report

Instead of focusing on livelihoods and consumers governments have been exercised over a non-issue: foreign capital

Just after recovering from the devastating pandemic blows this year, the Indian retail industry is once again staring at uncertain times with localised restrictions back in many places to curb coronavirus infections even as the industry players are turning 'phygital' to cater to customers. With omnichannel approach gaining currency, technology will remain a key enabler for the retail industry and in 2022, the focus is likely to be on building an agile and sustainable supply chain that provides the convenience of 'phygital' shopping. Concepts like video shopping may become more mainstream and companies will continue to adopt advanced analytics to improve sales and gain granular actionable insights on buyer behaviour. Moreover, with social media and influencer marketing coming to the forefront, creativity and content push, especially with regional languages, will gain more importance. Metro Cash & Carry India MD & CEO Arvind Mediratta said COVID has changed consumer behaviour ...

Prior to joining Snapdeal, Kumar was COO of Iconic Fashion, where he led the creation of a complete omni channel sales structure and inventory management for efficient and accurate delivery of orders

Thousands of salespeople representing consumer giants face an existential threat to their business.

The slide extends Friday's losses

Retailers and FMCG makers say they have adequate stocks at stores and warehouses and are prepared to manage the situation in the wake of fresh restrictions

India's retail landscape is changing, with global and domestic consumer and retail behemoths fighting tooth and nail to woo shoppers, as many choose large, clean supermarkets over crowded local stores

The retail industry's business is on the verge of full recovery, a report said