Page 4 - Retail Market

Audi India reports 33% increase in retail sales at 7,027 units in FY24

Luxury carmaker Audi India on Tuesday reported 33 per cent increase in retail sales at 7,027 units for the fiscal ended March 31, 2024. The German automaker had sold 5,275 units in the country in 2022-23 financial year. "We have seen a robust growth of 33 per cent in FY23-24 on the back of a diverse portfolio. Our product portfolio continues to witness strong demand and we are poised to overcome supply challenges," Audi India Head Balbir Singh Dhillon said in a statement. He further said: "Despite ongoing growth in the luxury market, which is tapering off on the back of record-breaking sales in 2023, we are confident about the industry's potential to exceed 50,000 cars in 2024." In the March quarter, the automaker said it retailed 1,046 units in the domestic market. The company encountered challenges related to supply chain disruptions during the first quarter which had an impact on sales. The automaker had retailed 1,950 units in the January -March period of last year. Audi sta

Full throttle ahead: FY24 roars to 4.23 mn PV sales, 4.15 mn in retail

Overall automobile registrations rose 10% in FY23; Hybrids caught up with EVs in FY23; Consumer preference for cleaner fuels grew

Retail-heavy stocks plummet nearly 10% this month, shows data

All three stocks have come off sharply from their February highs

Vishal Mega Mart planning $1 bn IPO valuing supermarket chain at $5 bn

The retailer has 560 stores, mainly in smaller cities, that sell clothes and grocery items. It competes with Indian tycoon Mukesh Ambani's Reliance, Tata Group's Trent

E-commerce giant Amazon exports from India crossed $8 billion in 2023

Highest-growing categories include toys, beauty products, furniture, and luggage

Govt to sell Bharat Rice at Rs 29 per kg in retail market from next week

The Centre on Friday said it will sell 'Bharat Rice' in the retail market at Rs 29 per kg from next week to give relief to the common man and has also directed traders to disclose rice/paddy stock, as part of its efforts to control prices that have risen by around 15 per cent in the last one year. In a press conference, Union Food Secretary Sanjeev Chopra exuded confidence that these two measures along with the various restrictions of exports will help in cooling down the prices. Seeking to dispel market rumours, he categorically said the government has no plans to lift restrictions on rice exports any time soon. The restrictions will continue until prices fall to a reasonable level. "The first priority for the government as of now is to ensure that rice prices are brought down," Chopra said, while asserting that prices of all essential food items are under control except rice. Prices of rice have risen by 14.5 per cent in retail and 15.5 per cent in the wholesale markets in the la

Retail credit flows surge not resulted in stress build up: RBI report

The Indian economy was witnessing a surge in retail credit growth. The credit growth is led by a well-diversified customer base, with reasonably good financial health conditions

In India, 71% of retail businesses plan to adopt GenAI in a year: Survey

International companies like eBay, Walmart, and Nordstrom are integrating Generative AI (GenAI) for diverse applications. In India, 71 per cent of retail businesses plan to adopt GenAI in a year

Ludhiana's hosiery players bear losses due to weak demand, lack of orders

Ludhiana's famous hosiery sector is staring at losses because of weak demand for winter garments this season, as many manufacturers say they faced lack of repeat orders as well as return of stocks from traders in many states. Hosiery goods manufacturers also blame dumping of China-made winter wear items, available at much lower prices, for adding to their woes. However, bone-chilling cold wave weather conditions prevailing in the northern region have given some sort of relief as they anticipate a pick up in demand which may lead to clearance of stocks. Ludhiana hosiery sector, which is one of the oldest industry verticals, is famous for winter garments like sweaters, jackets, thermals, cardigans, pullovers, innerwear, shawls etc. Several states like Uttar Pradesh, West Bengal, Rajasthan, Himachal Pradesh, Delhi, Bihar and Haryana are among key markets for the hosiery sector. The industry representatives said they started offering discounts to wholesalers in December when the deman

New supply of retail space up 72% last year to nearly 6 mn sq ft: Cushman

The new supply of retail space in shopping malls increased 72 per cent last year to 59.48 lakh square feet across eight major cities to meet rising demand from retailers, according to Cushman & Wakefield. In 2023, as many as 11 shopping malls became operational, covering 59,48,395 square feet of space across the top eight cities. In the previous year, nine malls came into eight markets, totalling 34,49,222 square feet area. Hyderabad witnessed the completion of three shopping malls, while Pune and Chennai had two each. One shopping mall each came up in Mumbai Metropolitan Region, Delhi-NCR, Bengaluru and Ahmedabad. No fresh supply was seen in Kolkata. With 59 lakh square feet of mall commencing operations across the top 8 cities in India, Cushman said the year 2023 saw the biggest supply addition in the post-COVID world. In 2019, the same cities witnessed a new supply addition of around 50 lakh square feet of Grade-A and B+ malls. Saurabh Shatdal, Managing Director, Capital ...

The story of organising retail

Traders are still apprehensive about big retail, but organised players from Reliance Retail to Walmart are eager to forge alliances with them

Apple to fight watch ban in court after White House declines to act

Apple had already stopped selling its Series 9 and Ultra 2 watches in its online store and US retail outlets

Nov retail inflation rises 7.37% for farm workers, 7% for rural labourers

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

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

India's e-retail market estimated to reach over $160 bn by 2028: Report

The market has experienced strong growth post-pandemic, with an estimated value of $57-$60 billion in 2023, according to the report

Smallcap pie grows as retail investor faith soars, shows Capitaline data

Mutual funds' average holding in Smallcap 250 Index companies peaks at 9.26%

Moth to a flame: Why are retail traders inexorably drawn to derivatives?

Why do sensible traders use these? Some hedge using F&O. Others play news-based events

Retail broking revenues could more than double in 5 years: Bain & Company

Bain & Co highlights that the industry has also managed to penetrate beyond the top cities

Retail, e-commerce likely to see fairly good year ahead: Snapdeal CEO

Retail and e-commerce businesses are likely to see a "fairly good" year ahead, given the strength of the Indian economy and uptick of demand in various categories as well as traction from semi-urban locations, according to Snapdeal CEO Himanshu Chakrawarti. "As we are seeing currently, our economy is in a very good shape and all aspects of the business, specifically the categories that we operate in, which is in the in disposable income categories... I think we're going to see a significant boost-up next year," Chakrawarti told PTI. He was speaking on the sidelines of Digital Acceleration & Transformation Expo (DATE with Tech). "We are seeing greenshoots come through even in the semi-urban areas and with the tailwind that we have, I think both retail and e-commerce should see a fairly good year in 2024," Chakrawarti said. On Snapdeal's expansion plans, the top boss of the e-commerce platform said it is looking at ways to reach out to more and more people in the hinterland, and to .

Beverage giant Coca-Cola joins ONDC, launches marketplace Coke Shop

The initial association with ONDC is being supported through SellerApp, which will help the company leverage the ONDC network with its data-driven insights, market intelligence, and strategies