The unorganized grocery retail segment has been witnessing tremendous changes post COVID-19 which has been a strong pivot and breakthrough for the Kirana store owners. More Kirana stores are accepting digital Payments as now customers prefer contactless shopping. QR codes, mobile payments and digital transactions are becoming core of Retail Grocery stores as the pandemic has deepened the consumer’s sense of trust for neighbourhood stores. Let’s discover more through this week’s edition of “Indian Retail at a glance” where in addition to the digital penetration by Kirana stores, we understand how Brands are planning to create NFTs to communicate their identity.
From fashion to food, behind the scenes of India's direct-to-consumer rush
With customers increasingly becoming more conscious about their preferences, they are demanding the same from their brands too. Gone are the days when you had to settle for a face wash or body scrub from one of the few available brands.
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NFTs: How Brands will drive engagement and loyalty in the coming decade
For a generation which values its online identity a lot more than its offline identity, NFTs provide a way to establish an identity beyond a Name and a Display Picture. In the coming years, NFTs are how we will display the brands we love, the causes we care about, the movies we love and even the products we are proud to own in the real world. Think of it is a Social Brag and it makes sense: in the digital world: the reason you buy a NFT is the same reason you buy a T-shirt from your favourite brand.
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Role of Supply Chain Management in Kirana Store Recovery
From times immemorial the next-door grocery has been your support system during times of distress when suddenly you wake up in the morning and find there is no sugar for your first cup of tea to sip along with your favorite newspaper. It was somewhere around the mid to late 1990s that large format retail stores began to bob their head offering consumers a ‘shopping experience’ like never before.
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QR Code at Kirana Shop, Direct Cash Transfer to Poor—Internet Economy is Powering New India
On the Diwali day, Finance Minister Nirmala Sitharaman tweeted a video of Gangireddula community members who walk with their dressed up old oxen and collect alms door to door. What was unique about this video was that the money was being taken through a QR code. Mobile payments, the pole star use case of India’s internet connectivity revolution, have been easily adopted by a small, predominantly farming community, living in the states of Andhra Pradesh and Telangana.
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Good Glamm Group India's first unicorn in DTC beauty and personal care biz
The Mumbai-based firm has been valued at $1.2 billion in the latest round of funding, up from $310 million in the previous round, making it the newest member of the coveted unicorn club. It is the 35th startup to achieve unicorn status in 2021 alone and the first direct-to-consumer (DTC) beauty and personal care company to reach such status in the country.
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Coca-Cola India net profit declines 28.4 pc to Rs 443.4 cr in FY21; revenue down.
Coca-Cola India's net profit declined 28.4 per cent year-on-year to Rs 443.38 crore and its revenue from operations was down 16.2 per cent to Rs 2,297.51 crore in the pandemic-hit FY21, according to regulatory documents. The cola major had logged a net profit of Rs 619.14 crore in FY20 while its revenue from operations in that year had stood at Rs 2,741.54 crore.
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Adani targets food staples business for expansion
Billionaire industrialist Gautam Adani will be pouring more resources into acquisitions as he doubles down on his bet on the food staples business. He plans to buy manufacturing facilities in food staples and expand them — a playbook he followed in the edible oil business, which today commands a dominant share of India’s organised market.
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How Dietary Supplement Manufacturer Forest Raga is Helping People to Switch to Adopt Healthy Lifestyle
Organic products or products with minimal chemical concentration are more used by today’s customers. Of late, consumers are relying on nature and building confidence in natural plants anew. With this notion, Forest Raga was founded to contribute to the best of human health and also, heal the planet.
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Nykaa founder’s wealth tops $6.5 billion after blockbuster IPO
Nayar, who owns about half of Nykaa, is now worth about $6.5 billion as shares of the firm surged as much as 89% when they started trading Wednesday. She’s become India’s wealthiest self-made female billionaire, according to the Bloomberg Billionaires Index.
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Britannia's rerating hinges on success in new segments
Britannia Industries' sharp plunge in September quarter profit sent its shares tumbling 4 per cent in Tuesday's trade, even as some brokerages chose to keep their price targets unchanged for the stock. Analysts said the stock could be in for some lackluster performance in the short term.
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Inflation remains a big concern going forward, says Dabur India CEO Mohit Malhotra
Unabated inflation is going to remain a concern for the FMCG companies in quarters ahead, indicated the management of FMCG major Dabur India in a post-earnings call on November 2. According to Mohit Malhotra, the company will continue to battle inflation in the third quarter which so far has not shown any signs of easing even as the COVID-19 pandemic subsides. CLICK HERE TO READ MORE
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