Page 2 - Consumers

Consumers feel relief as wheat product prices soften during festival month

Going forward, market players feel that prices would be guided somewhat by the pace of new crop sowing and also the trajectory of liquidation of wheat inventories by government agencies

79% consumers fed up with excessive convenience fee: LocalCircle survey

These charges, levied by ticket or service booking platforms like BookMyShow, PVR, IRCTC, can be as high as 20 per cent of the transaction value in some cases

Young consumers buying into brand narratives first, say new-age founders

Many young consumers are preferring to base their buying decisions on brand narratives first and products second, according to new-age brand founders. In the age of sustainability and brand connect, founders of D2C and new-age companies feel their stories convince consumers for repeat purchases, but others feel that it is the product which convinces the consumer, because it solves a problem for them. Shark tank fame oral care brand Perfora's founder Jatan Bawa said that people buy into the narrative of a young brand which is challenging the status quo, unlike legacy brands whose founders or brand building story is not well-known. "The consumers of today buy into brand narrative first and product second, because they're looking for transparency, and to resonate with the story of brands that they can be part of. With legacy brands the problem is that you don't know who started them. But most people who are consumers of young brands know the founder and their story, because the founder

NCCF procures 2,826 tn onion for buffer stock; to scale up buying

The National Cooperative Consumers' Federation of India (NCCF) on Saturday said it has purchased 2,826 tonnes of onion at Rs 2,410 per quintal directly from farmers in the last four days mostly from Maharashtra as it resumed procurement of the bulb for a higher buffer stock. The government enhanced the onion buffer stock target from 3 lakh tonnes to 5 lakh tonnes this year. Two cooperatives, NCCF and NAFED, have been mandated to procure 1 lakh tonnes each directly from farmers at Rs 2,410 per quintal to avoid panic selling amid the imposition of an export curb to control domestic prices. The two cooperatives are also disposing of the government's buffer stock of onion in both wholesale and retail markets to control the rising retail prices of onion, which at present are ruling up to Rs 60 per kg depending on the quality in Delhi and other cities. Speaking with PTI, NCCF Managing Director Anice Joseph Chandra said the cooperative commenced the procurement directly from farmers on ..

'E-commerce policy in final stages; to be presented before top-level'

The proposed national e-commerce policy being formulated by the commerce and industry ministry is in the final stages and no new draft policy will be issued now for seeking views of stakeholders, a senior government official said. The Department for Promotion of Industry and Internal Trade (DPIIT) on August 2 held a detailed discussion with representatives of e-commerce firms and a domestic traders' body on the proposed policy. In that meeting, a broad level of consensus emerged among the concerned stakeholders on the proposed policy. "Now no draft policy will come. That exercise is over now. We are just getting a final sign off, the official, who did not wish to be named, said, adding there will be a presentation of the proposed policy at the top level of the government. On data localisation, the official said that the e-commerce companies would have to follow the law of the land. Earlier the ministry had issued two draft national e-commerce policies. The 2019 draft proposed to

Low income group consumers' sentiments buoyant about Indian economy : study

Home Credit India, which is a part of global consumer finance provider Home Credit Group, has said that sentiments of the low income population in urban and semi-urban spaces are quite buoyant about the country's economy. The company in its annual consumer survey 'The Indian Wallet Study 2023' found that with the economy growing, income levels have increased for 52 per cent of the low-income consumers last year. A total 76 per cent are expecting their incomes to rise in the coming year. This has made the low income population buoyant about the country's economy. However, despite the increase in their income the consumers are highly cautious when it comes to non-essential spending, the study said. The aim of the study is to understand the financial habits and sentiments of the consumers in the low-income strata within the urban and semi-urban areas. The study was made from a randomised survey of around 2200 respondents who are in the age group of 18 to 55 years with an annual incom

Cash has no substitute: It is inclusive and the original instant payment

It gives freedom of choice to consumers, cuts across economic status and geographies

Consumer affairs dept asks online platforms to not use 'dark patterns'

The Consumer Affairs dept advised online platform to not engage in 'unfair trade practices' by incorporating dark patterns in their online interface to manipulate consumer choice

Can 'dark patterns' really be controlled?

The govt's efforts to protect consumers from manipulative advertising tactics are commendable, but ensuring compliance from e-commerce giants will be a daunting task

India to cut power tariff during solar hours, raise for peak hours

The system is expected to reduce demand on the grid during peak times when many Indian households crank up their use of airconditioning after work

Around 73% consumers trust content created by AI: Capgemini study

66% of them would be willing to seek advice from the technology for personal relationships or life and career plans

Decoding the name game of service charge added in a restaurant bill

The Restaurants' Association said that levying of service charges has been a standing practice for more than 80 years in the hospitality industry

Consumers switching back to buying regular or mid-priced packs in FMCG

The demand for regular packs has revived especially in categories like snacks, biscuits, edible oil, and detergents after more than a year

Walmart beats Q4 expectations, reports strong sales during holiday season

Walmart on Tuesday reported strong sales during the holiday season as budget-conscious consumers looking for better deals flocked to its stores. The report was a good showing for the company, considering consumers had overall cut back on their spending during the traditional November-December shopping period. Though sales rebounded at stores and restaurants last month, showing shoppers are still spending despite higher prices and several interest rate hikes by the Federal Reserve in an effort to curb the problem. The nation's largest retailer also delivered full-year sales of $611.3 billion, up 6.7% compared to the prior year. But it gave cautious guidance for the next fiscal year, saying it expects sales to increase between 2.5% to 3% and U.S. sales to jump 2% to 2.5%. And it forecast adjusted earnings per share ranging from $5.90 to $6.05, excluding fuel. Analysts surveyed by FactSet forecast $6.52 per share, on average. Shares fell more 4% in premarket trading. Walmart, like

Grievance redressal of e-comm players not up to mark: Consumer Affairs Secy

The grievance redressal mechanism of many big e-commerce players is not up to the mark as the number of complaints received by the National Consumer Helpline has risen sharply over the last four years, Consumer Affairs Secretary Rohit Kumar Singh said on Thursday. Addressing an event organised by the Public Affairs Forum of India (PAFI), Singh said the number of complaints registered on the National Consumer Helpline (NCH) has gone up to 90,000 in November compared to 40,000 in the same month last year. "Four years back, the number of complaints pertaining to e-commerce transactions was 8 per cent of the total complaints. Last month, it was 48 per cent of the total complaints," he said. "That means that grievance redressal system of many of the big e-commerce companies is not working up to the mark," he added. Singh noted that the power equation between the consumer and seller has suddenly changed. "Consumer is getting weaker and weaker, that's where the role of this ministry becom

US consumers spend $11 bn more online for domestic flights this yr: Report

Domestic flight bookings so far this year have driven $76 billion in online spend, 17 per cent more than the comparable period in 2019 (pre-pandemic), where $65 billion had been spent

Bankers take to streets with megaphones, enlist grocers to lure customers

Rising loan demand from companies and consumers has pushed annual credit growth to a decade high of 17.95% as of October, compared to a five-year average of 9.7%

Eveready PAT dips 52% to Rs 15 cr on non-cash charge of unamortised fees

Company says the charge will even out for the full year; revenue up 5% to Rs 376 cr

Over 100 mn consumers want to upgrade to 5G in India: Ericsson report

5G consumer readiness is strong in India, with the intention to upgrade to 5G being 2-3 times higher than in developed markets such as the US and UK which has had 5G for some time.

Amazon plans second Prime Day in appeal to deal-hungry shoppers

Many consumers, meanwhile, are planning to cut back because higher food and fuel costs have left them with less to spend.