Online sellers are gearing up for a promising festive season in 2023, expecting a significant uptick in sales after a rocky first three quarters of the year. A report by Redseer Strategy Consultants highlighted the optimism among sellers, with at least a 15 per cent year-on-year (YoY) jump in festive sales anticipated. The report, based […]
Consumers across India are bullish, excited and more eager than ever to shop online during this festive season, as per a study conducted by Nielsen Media India, on behalf of Amazon India. 81 per cent indicated strong sentiment and intent; 78 per cent trust online shopping and 1 in 2 intend to increase online spending, […]
Myntra, the fashion, beauty and lifestyle ecommerce platform has introduced a conversational AI-powered chatbot, Maya, to make customers’ shopping experience more seamless and customised, while helping them expedite their decision-making. With its elevated capability, Myntra’s virtual fashion influencer, Maya, transcends serving fashion inspiration on social media, to now also extending AI-backed shopping assistance on the […]
Diamonds have always been an enduring symbol of love, happiness and the celebration of life’s most cherished moments. As we approach the upcoming festive season, the diamond jewelry industry is poised for significant growth, with expectations of a remarkable 20 per cent increase compared to last year’s festivities. This year has witnessed phenomenal growth in […]
The profit margins of fashion retailers are likely to contract by around 120 bps in FY2024 due to higher discounts and ad spends, despite an estimated 13 per cent revenue growth, the rating agency Icra has said. According to Icra’s recent industry analysis, the operating profit margins of 11 listed retail entities in its sample set, […]
Ahead of the highly anticipated Big Fashion Festival, Myntra’s marquee annual festive shopping bonanza, Myntra has strengthened its collection in the Home category by adding 50,000 new stylish products and over 20 new brands in the last quarter. Popular segments in Myntra’s Home portfolio include fine and elegant Home Furnishing, Trendy Art & Decor pieces, Lamps & Lighting, Kitchen & […]
The government has reduced the permissible wheat stock for traders, wholesalers and large-scale retailers to 2,000 tonnes from 3,000 tonnes, with immediate effect. The move aims to curb the rise in prices, according to Sanjeev Chopra, Secretary of Food and Public Distribution. However, Processors can maintain the same quantity of stock as earlier. Chopra emphasised […]
Ahead of Ganesh Chaturthi festival, Goa Chief Minister, Pramod Sawant, on Thursday unveiled the Goa Chavath e-Bazaar, listing products by local women entrepreneurs and self-help groups on ‘Swiggy Minis’ as part of a Memorandum of Understanding (MoU) with online delivery platform, Swiggy. The delivery platform entered into an agreement with the Goa government on Thursday […]
The Society of Indian Automobile Manufacturers (SIAM) has revealed that August 2023 witnessed achievements in the Indian automotive industry, with the highest-ever year-on-year monthly sales for Passenger Vehicles and Three-wheelers. The announcement was made by SIAM during the release of the monthly sales data for August 2023. Highest-ever passenger vehicle sales reported. This growth reflects the resilience […]
A report on Thursday revealed that 54 per cent of consumers in India will engage in hybrid shopping, combining online and offline methods close to the heels of the upcoming festive season, Dusshera and Diwali. The study by InMobi found that 84 per cent of buyers have increased their online shopping budgets compared to last […]
