Page 2 - Consumer Market

BS Manthan: Can't have one-size-fits-all trade policy, says Piyush Goyal

Speaking about free-trade agreements (FTAs), he said India was in dialogue with the European Union (EU), the United Kingdom (UK), Peru, Chile, and some countries in the Gulf Cooperation Council (GCC)

KFC India operator Devyani posts slow Q3 revenue growth at 7%, costs spike

"Consumer sentiment remains subdued, despite Q3 traditionally being a strong and festive quarter," Chairman Ravi Kant Jaipuria said in a statement. This, coupled with total expenses jumping nearly 16%

Optimistic about overall growth prospects, good demand ahead: Pidilite MD

Rural and semi-urban markets are growing 1.5 times faster than the urban market for Pidilite Industries, helping it register a double-digit volume growth and it sees positive demand environment in the last quarter also, says its Managing Director Bharat Puri. The company achieved a double-digit volume growth in the first three-quarters of FY24 and Puri expects to continue the momentum with a broad-based growth across categories. "We see a good demand environment, government spending on infrastructure, the housing sector and real estate is seeing an upsurge. So, overall we remain optimistic about the overall prospects of our sector," said Puri in a virtual media roundtable. Pidilite, which passed on the benefits of lower-cost prices to consumers, does not see any disruption in the supply chain from the geopolitical crisis, which is brewing in the Middle East. "Fortunately for us, most of our raw material comes from the East rather than from via the Red Sea. Right now, raw material

Television may cost 10% more as prices of open cells continue to increase

The retailer said some manufacturers might pass it on in a staggered manner as they also sit on some amount of inventories

As consumer credit grows, India's lending boom can be safer, if not slower

For lenders, however, the problem with adding new borrowers is the incremental cost

Tata Consumer Products to raise $782 mn through issue of commercial papers

Tata Consumer Products said on Friday it will raise up to 65 billion rupees (about $782 mn) through issue of commercial papers and rights issue of shares

Q3FY24 earnings preview: Consumer business to boost RIL's earnings

Analysts estimate strong performance in consumer businesses to be offset by a decline in O2C earnings

Tapping the many Indias

India's massive consumer market represents one of the biggest open market opportunities in the world. Yet the confusion that grips marketers - local and global - refuses to go

Delhi retailer gets Rs 3,000 penalty for charging Rs 7 for paper carry bag

A consumer commission here has directed a fashion apparel retailer to pay a fine of Rs 3,000 for charging Rs 7 to a customer for a paper carry bag without prior intimation. The District Consumer Disputes Redressal Commission (East Delhi) was hearing a complaint claiming deficiency in services by Lifestyle International Pvt Ltd for charging Rs 7 for a paper carry bag. The commission's President, S S Malhotra, and members Rashmi Bansal and Ravi Kumar noted that the retailer was charging for paper carry bags after the ban on plastic bags on the grounds that paper bags were costlier than plastic bags. "The question to consider before this commission is not the use of plastic bags or paper bags, but whether or not, any additional cost can be imposed upon customers to provide carry bags at the time of making payment for the goods selected for purchase, without prior notice/information being given to them," the commission said in a recent order. It said the complainant established his cas

Households see a rise in inflationary pressures for year ahead: RBI survey

Consumer confidence stable; fairly optimistic about economy, employment, income

Govt launches hackathon to tackle 'dark patterns' on some online platform

This is the third hackathon the consumer affairs department is organising after the successful hackathon on onion and tomato, he said

Daewoo enters Indian consumer electronics market via Kelwon Electronics

South Korean brand Daewoo has entered into fast-growing Indian consumer electronics and appliances market through its licensee partner Kelwon Electronics & Appliances, which has plans to invest around Rs 300 crore in the next three years. Kelwon, which sells products, including Lithium Hybrid Inverters and LED TVs, will introduce products in sectors such as energy and power, and consumer electronics, under brand Daewoo - now owned by South Korean conglomerate POSCO DAEWOO. As per its marketing strategy, Kelwon would adopt a twin brand strategy, where it will place the products under Daewoo in the premium and mid-premium segment, while mass to mid-premium would be catered through its own brand, its Managing Director H S Bhatia said. Kelwon will initially get the Daewoo products manufactured locally here through OEM (Original Equipment Manufacturer), under the R&D and technical support from the South Korean brand. However, when the volume picks up substantially in the coming ...

Star rating programme for solar PV modules to help consumers: R K Singh

Like home appliances, consumers will soon be able to choose solar panels with higher efficiency under the government's star rating programme for solar photovoltaic module, which was launched on Friday. Union Minister for Power, New and Renewable Energy R K Singh launched the initiative which provides ratings from 1-5 stars on the basis of the efficiency of modules. In his address, Singh said that now consumers can make an informed decision. The ratings will help consumers choose the best of the panels while getting solar installations from vendors. "Like the appliances where there is star ratings you know which appliance is better in terms of energy efficiency. Similarly, now the consumer will not be at the mercy of the seller for solar installations. By checking the star ratings one can select the more efficient panels," the minister said. This will also help build consumer confidence and give a push to solar installations in the country, he added. The programme is voluntary for

Nikon expects 35% sales in FY24 during upcoming festive, wedding seasons

Consumer sentiments in the festive season are in the "right direction" and Nikon India will record 35-37 per cent of its FY24 sales during this period and the wedding season that follows, Managing Director Sajjan Kumar said on Wednesday. The festivals are followed by the wedding season, which would further catalyse camera sales, he said. "This wedding and festive season will contribute 35-37 per cent of our business (in FY24)," Kumar told PTI on the sidelines of a Nikon event here. Like appliances and consumer electronic products, camera sales also get high traction during the festive season, which starts from Onam in south India and continues through Ganesh Chaturthi, Durga Puja, and Diwali. "The kind of response we are getting and customer participation we have observed is certainly in the right direction. It is very very promising. "We as a brand are ready to offer many options like easy EMI, cashback, memory storage cards, additional battery or even a camera charger for the ..

Domestic D2C market likely to reach GMV of $35 billion by 2027: Redseer

The report said that third-party logistics (3PL) would ride on the back of the Indian D2C market growth

Consumers intent to shop online, spend more this festive season: Survey

A significant percentage of consumers have expressed an intent to shop online during the upcoming festive season and are also willing to increase their spending this year, says a survey. According to the Amazon India commissioned survey by Nielsen Media, based on a sample size of 8,159 consumers across metro and smaller cities, found that 87 per cent of consumers in metros and 86 per cent across tier-2 cities (population 10-40 Lakh) prefer to shop online this festive period. As per the survey, "81 per cent of consumers intend to shop online during this festive season. 1 in 2 consumers are willing to increase their spending this festive period compared to last year." According to a Redseer Consulting report, consumer spending in festive sales of 2022, had increased marginally by 3 per cent on a year-on-year basis. The Nielsen Media survey found that 3 in 4 consumers wait for online festive shopping events to purchase large appliances, as these events give them access to new brands a

Indian consumer spending likely to be higher this festive season: Report

Indian consumer spending is expected to be higher this festive season, on the back of increasing purchases of celebratory items and luxury goods, according to a survey by Deloitte. Deloitte's ConsumerSignals research said that about half of the participants believe they can effectively handle significant unexpected expenses in the near future. "With the festive season nearing, Indian consumer confidence is increasing, with 56 per cent indicating their readiness to spend on celebratory items," it added. In the short term, the survey said, consumer spending is set to rise, particularly in clothing, personal care and recreation, entertainment and leisure. "These trends point to increased spending as the festive season nears," it said. Rajeev Singh, Partner and Consumer Industry Leader at Deloitte Asia Pacific said that healthy growth in India's economy is encouraging consumers to embrace premium and luxury spending. "This shift extends across consumer durables, travel, and hospitali

After Q1FY24 results, Street positive on IDFC First Bank's growth strategy

Provisions were flat sequentially (up 55 per cent YoY) at Rs 480 crore and net profit was at Rs 770 crore (up 61 per cent YoY and down 5 per cent QoQ)

Ahead of festival season, 54% consumers say they prefer hybrid shopping

In lead-up to the festival season, as many as 84 per cent of consumers have increased their shopping budgets compared to last year, the report said, which surveyed over 1,000 Indian mobile users

Definition of consumer includes beneficiary

The National Commission observed that the nominee is the rightful claimant under a policy, hence there was no merit in the objection that she couldn't file a complaint