Page 3 - Retail Industry

Expecting high demand, QSRs, retail companies expand their workforce

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

Why are Indian retailers obsessed with Gen Z?

Dear Gen Z, while you may not be old enough to convince your parents for the Goa trip yet, with your shopping habits, you have certainly impressed some of the top retailers in the country >

Noel Tata's masterstroke in retail

His value lifestyle brand Zudio signals a coming of age of retail in small town India

Walmart looking at sourcing toys, shoes, bicycles from Indian suppliers

US-based retail giant Walmart is looking to source toys, shoes and bicycles from Indian suppliers as the company is targeting to increase its exports from India to USD 10 billion annually by 2027. The company also wants to develop new suppliers in categories such as food, pharmaceuticals, consumables, health and wellness, and apparel and home textiles, a company spokesperson told PTI. Officials from the Bentonville-headquartered firm recently held a virtual meeting with several domestic toy manufacturers here. The company informed toy makers about their requirements and expected quality standards as it is directly engaging with the domestic toy makers for sourcing. Global retailers such as IKEA are already sourcing toys from India for their international operations. The move is significant and highlights India's growing strength in the toy industry, especially since India was a net importer of toys until a few years ago. Confirming the development, a company spokesperson said: ..

Cyber security, accidents among top threats for industry: Ficci report

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

Retail demand shows signs of fatigue in Q4FY23 after strong run

Top-line growth to be healthy on a low base

IDFC First Bank partners Crunchfish to demonstrate offline retail payments

IDFC First Bank on Monday said it has partnered with Swedish company Crunchfish to pilot a project to demonstrate offline retail payments. IDFC First Bank, is set to be a part of RBI's pilot project to enable offline payments, the private sector lender said, adding that the project will give access to digital payments even when there is no network. The unique digital payment solution was designed by Crunchfish for merchants and customers under the RBI's Regulatory Sandbox Program, IDFC First Bank said in a release. "This project will provide support for offline retail payments based on a Digital Cash platform to the payment ecosystem of India. IDFC FIRST Bank will be one of the first few banks to be a part of this pilot project by HDFC Bank," it said. The application was approved by the RBI to demonstrate offline payments between two banks. The Development and Demonstration Agreement which is a non-commercial agreement has now been signed to give IDFC First Bank access to the Digit

Indian retail industry to reach $2 trn by 2032: Reliance's Subramaniam V

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

Reliance Consumer Products to acquire majority stake in Lotus Chocolate

It will also make an open offer to acquire up to 26 per cent stake in Lotus

Rice, wheat inflation continue to rise contrary to overall inflation

The retail inflation rate in wheat rose to 19.67 per cent in November from 17.64 per cent in October

'What if I'm next?' Fear grips Amazon India employees amid global layoffs

Those in the know say the full force of the impact of global layoffs in India will be felt in the retail division

Relief for directors of retail firms as govt amends Legal Metrology rules

The government has pointed out that the changes are being made as part of the ease of doing business

Electronics Mart India IPO to open on Oct 4; price band at Rs 56-59/share

Consumer durables retail chain Electronics Mart India Ltd on Wednesday said it has fixed a price band of Rs 56-59 a share for its Rs 500 crore initial public offering (IPO). The initial share-sale will open for public subscription on October 4 and close on October 7, the company said in a statement. The IPO consists of a fresh issue of equity shares aggregating to Rs 500 crore, with no offer for sale component. The company intends to utilise the net proceeds to fund its capital expenditure, support incremental working capital requirements and pay debt. Funds will also be used for general corporate purposes. Half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Investors can bid for a minimum of 254 equity shares and in multiples of 254 thereafter. Electronics Mart India Ltd (EMIL) was founded by Pavan Kumar Bajaj and Karan Bajaj as a proprietary concern with a

Personal retail loan disbursements rise 42% at end-March 2022: Study

Personal retail loan disbursements recorded an impressive growth of 42 per cent from March 2021 to March 2022, reflecting an improvement in overall economic and business sentiment, said a joint study by Equifax and Andromeda. The number of active personal loans increased from 3.5 crore as of March 2020 to 4 crore by March 2021, and to 6 crore by March 2022, it added. The book size of personal loans rose from Rs 5 lakh crore as of March 2020 to Rs 6 lakh crore as of March 2021 and further to Rs 8 lakh crore as of March 2022. "This is a strong indicator of the revival in consumption in the country," said K M Nanaiah, Managing Director, Equifax Credit Information Services Pvt Ltd and Country Leader, India & MEA, Equifax. The total portfolio outstanding of retail industry increased from Rs 71 lakh crore (March 2020) to Rs 80 lakh crore (March 2021), and further to Rs 89 lakh crore as of March 2022. Private banks experienced the highest growth of portfolio outstanding with a 32 per ..

75th Independence Day: Retailers look to end season sales on a high

Some offering discounts up to 75%, keeping up with the 75th Independence Day theme

Retail tech firm Arzooo raises $70 mn in Series B led by Japan's SBI group

Existing investors Celesta Capital and 3 Lines VC also participated in this round, along with Trifecta Leaders Fund and Tony Xu, the Founder of Doordash

Retail industry to grow 10% a year, reach $2 trn by 2032: BCG-RAI report

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

Future Retail defaults on repayment of Rs 5,322-cr debt

Future Retail Ltd said it has missed the due date for repayment of Rs 5,322.32 crore to lenders on account of the ongoing litigations with Amazon and other related issues

Recovery tracker: Higher mobility, power generation as Covid cases decline

Traffic congestion is rising again in major cities

Snapdeal appoints retail veteran Priyaranjan Kumar as VP and Business Head

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