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Beyond the Surface: Techniques for Deeper Sales Team Performance Analysis

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SnackTeam
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Sales Performance Metrics

In the fast-paced world of business, staying ahead of the competition requires more than just a superficial understanding of your sales team’s performance. While traditional metrics like revenue and quotas provide a basic overview, a deeper analysis is necessary to uncover the underlying factors influencing success or challenges. Here are the techniques that go beyond the surface, offering a nuanced perspective on sales team performance analysis.

1. Customer-Centric Metrics

Understanding the customer journey is crucial for effective sales performance analysis. Beyond measuring sales figures, businesses should focus on metrics that highlight the customer experience. Net Promoter Score (NPS), customer satisfaction surveys, and feedback mechanisms can provide valuable insights into the team’s ability to connect with and satisfy customers. A high NPS may indicate not only successful sales but also customer loyalty and potential for repeat business.

By analyzing customer-centric metrics, businesses can identify patterns in customer interactions and tailor sales strategies accordingly. This approach allows sales teams to refine their approach based on customer feedback, ultimately enhancing long-term relationships and increasing the likelihood of referrals.

2. Behavioral Analytics

Gone are the days of relying solely on outcome-based metrics. Today, the focus is on understanding the behaviors that lead to successful outcomes. Behavioral analytics tools, often integrated into Customer Relationship Management (CRM) systems, track various activities such as email engagement, call duration, and meeting frequency.

Analyzing these behavioral patterns can uncover valuable information about the effectiveness of different sales strategies. For example, if successful deals often follow a specific communication pattern, sales managers can coach their teams to replicate those behaviors. Conversely, identifying patterns associated with unsuccessful deals allows for targeted interventions and adjustments.

3. Sales Team Collaboration Analysis

Sales is no longer an isolated function within organizations. Modern businesses emphasize cross-functional collaboration, and understanding how well your sales team collaborates with other departments is essential. Analyzing collaboration can involve assessing communication within the team, as well as interactions with marketing, product development, and customer support.

Collaboration analysis can uncover bottlenecks and inefficiencies in the sales process. For instance, if there is a breakdown in communication between sales and marketing, it may impact lead generation and conversion rates. Addressing these issues through improved collaboration can lead to a more streamlined and effective sales process.

4. Data-driven Coaching and Training

Traditional coaching methods rely heavily on subjective observations and qualitative assessments. While these have their place, incorporating data-driven coaching and training methods can take performance analysis to a deeper level. Video analysis tools, for instance, allow sales managers to review and analyze actual sales calls, identifying specific areas for improvement.

Data-driven coaching can pinpoint strengths and weaknesses in individual performance, enabling targeted training programs. Moreover, it provides objective criteria for assessing progress over time. By leveraging data in coaching and training, businesses can ensure that their sales teams are continually evolving and adapting to the dynamic nature of the market.

5. Predictive Analytics for Sales Forecasting

Predictive analytics utilizes historical data and statistical algorithms to forecast future sales trends. Beyond providing a simple revenue projection, advanced predictive analytics can identify factors influencing sales success and failure. This allows businesses to proactively adjust strategies based on anticipated changes in the market.

For example, if historical data reveals that certain market conditions are associated with increased sales, the sales team can focus efforts during similar conditions in the future. Additionally, predictive analytics can identify potential risks, enabling proactive measures to mitigate challenges before they impact performance.

6. Employee Satisfaction and Well-being Metrics

Sales performance is intricately linked to the well-being and satisfaction of the sales team. High turnover rates and burnout can significantly impact productivity and morale. Monitoring metrics related to employee satisfaction, such as engagement surveys, turnover rates, and workload distribution, can provide crucial insights into the overall health of the sales team.

Understanding the factors that contribute to employee satisfaction allows businesses to implement strategies that foster a positive work environment. This, in turn, positively influences performance, as satisfied and motivated sales teams are more likely to achieve and exceed targets.

Final Thoughts:

In the competitive landscape of modern business, the ability to analyze sales team performance beyond surface-level metrics is a strategic imperative. By incorporating customer-centric metrics, behavioral analytics, collaboration analysis, data-driven coaching, predictive analytics, and employee satisfaction metrics, businesses can gain a comprehensive understanding of the factors influencing sales success.

Moving beyond traditional sales analysis approaches not only allows businesses to adapt to market dynamics but also fosters a culture of continuous improvement within the sales team. As technology continues to advance, embracing these deeper analytical techniques will be essential for businesses aiming not just to survive but to thrive in an ever-evolving marketplace.

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Planet-Friendly Persuasion: Strategies for Converting Consumers to Sustainable Choices

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SnackTeam
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Sustainable Marketing

In an era where climate change and environmental degradation are at the forefront of global concerns, the responsibility to make sustainable choices has shifted from governments and corporations to individuals. Consumers play a pivotal role in driving change through their purchasing decisions, and businesses are increasingly recognizing the need to adopt planet-friendly practices to appeal to this conscientious market. This shift in consumer behavior presents both challenges and opportunities for businesses aiming to align their strategies with environmental sustainability.

Understanding the Green Consumer

The green consumer is no longer a niche market; it’s a growing force influencing industries across the board. These consumers prioritize eco-friendly products and are willing to pay a premium for sustainable choices. To tap into this market, businesses must first understand the motivations and values that drive green consumer behavior.

Research indicates that eco-conscious consumers are motivated by a combination of environmental concerns, health considerations, and ethical values. They seek products and services that minimize their ecological footprint and support companies committed to sustainability. Therefore, businesses looking to convert consumers to sustainable choices must build trust by transparently communicating their commitment to eco-friendly practices.

Transparency and Education

One of the cornerstones of persuading consumers to make sustainable choices is providing clear information about the environmental impact of products and services. Transparency builds trust and empowers consumers to make informed decisions aligned with their values.

Businesses can achieve transparency by clearly communicating their sustainability practices, certifications, and the overall life cycle of their products. This information should be easily accessible through various channels, such as product labels, websites, and marketing materials. Moreover, educational campaigns can help consumers understand the positive impact of their choices, fostering a sense of responsibility and empowerment.

Innovative Packaging and Design

The environmental toll of packaging has gained significant attention in recent years. Consumers are increasingly aware of the excessive use of single-use plastics and the impact of packaging waste on the planet. Businesses can leverage this awareness by adopting innovative packaging solutions that reduce environmental impact.

Eco-friendly packaging, such as biodegradable materials or minimalistic designs that use fewer resources, can be a persuasive factor for environmentally conscious consumers. Additionally, brands can educate consumers on proper disposal methods, encouraging recycling and composting. By making sustainability a part of the packaging narrative, businesses can enhance the perceived value of their products.

Price Point and Accessibility

While many consumers express a willingness to pay more for sustainable products, the reality is that price remains a critical factor in purchasing decisions. To bridge this gap, businesses should strive to make sustainable choices more accessible and cost-effective.

Economies of scale can play a crucial role in making sustainable products more competitively priced. Businesses that invest in sustainable practices should communicate how these choices lead to long-term cost savings, allowing them to offer eco-friendly options at more affordable prices. Special promotions, discounts, and loyalty programs can further incentivize consumers to choose sustainable alternatives.

Collaboration and Partnerships

The journey towards sustainability is often complex and requires collaboration across industries. Businesses can enhance their sustainability efforts by forming partnerships with like-minded organizations, suppliers, and NGOs.

Collaborations can extend to joint initiatives, such as reforestation projects, clean energy investments, or waste reduction programs. By aligning with reputable partners, businesses can amplify their impact and demonstrate a collective commitment to planetary well-being. This collaborative approach not only benefits the environment but also enhances the brand’s image, making it more attractive to eco-conscious consumers.

Technology as an Enabler

Advancements in technology offer innovative solutions for businesses seeking to integrate sustainability into their operations. From supply chain management to energy-efficient technologies, businesses can leverage cutting-edge solutions to reduce their environmental impact.

For example, artificial intelligence (AI) can optimize supply chains, reducing waste and improving efficiency. Smart technology can enable energy monitoring and conservation measures, showcasing a commitment to sustainability. Businesses that embrace technological innovations not only enhance their environmental credentials but also position themselves as forward-thinking and adaptive in the eyes of consumers.

Building a Community of Sustainability

Creating a sense of community around sustainable choices can be a powerful motivator for consumers. Businesses can foster this sense of community through social media engagement, events, and online platforms that connect like-minded individuals.

Encouraging user-generated content that highlights sustainable practices, sharing success stories, and creating spaces for open discussions can strengthen the bond between a brand and its environmentally conscious consumer base. This community-building approach extends the impact beyond individual purchases, creating a network of advocates who actively promote and support sustainable choices.

The Bottom Line: A Win-Win Proposition

In the pursuit of converting consumers to sustainable choices, businesses discover that environmental responsibility is not just an ethical obligation but a strategic advantage. Embracing sustainability is a win-win proposition, benefiting both the planet and the bottom line.

By aligning with the values of eco-conscious consumers, businesses not only contribute to a healthier planet but also position themselves as leaders in their respective industries. The key lies in authenticity, transparency, and a genuine commitment to making a positive impact. As the call for sustainability grows louder, businesses that successfully navigate this shift will not only secure the loyalty of today’s consumers but also pave the way for a more sustainable future.

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Transparency in Turmoil: Maintaining Openness and Trust in a Crisis

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SnackTeam
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In the fast-paced and interconnected world of business, the landscape is often marked by unpredictability. Economic downturns, public relations nightmares, and global crises can strike at any moment, testing the mettle of companies and their leadership. In such turbulent times, the importance of transparency cannot be overstated. Maintaining openness and trust during a crisis is not only a moral imperative but a strategic necessity for businesses aiming to weather the storm and emerge stronger on the other side.

The Foundation of Trust

Trust is the cornerstone of any successful business relationship. It is built over time through consistent communication, ethical behavior, and a commitment to transparency. However, when a crisis hits, trust can quickly erode if companies are perceived as withholding information, making questionable decisions, or prioritizing profits over people.

A prime example is the global COVID-19 pandemic, which thrust businesses into uncharted territory. Companies that embraced transparency, providing regular updates on safety measures, financial challenges, and their plans for the future, earned the trust of their stakeholders. On the other hand, those that attempted to downplay the severity of the situation or remained silent faced reputational damage that may take years to repair.

The Power of Open Communication

In times of crisis, open communication becomes more critical than ever. Transparent communication serves as a bridge between companies and their stakeholders, be they employees, customers, or investors. Providing timely and accurate information helps manage expectations, mitigates uncertainty, and positions the company as a reliable source of truth.

Leadership must communicate clearly, addressing concerns head-on and acknowledging the challenges faced. This can involve town hall meetings, regular email updates, or even leveraging social media to connect directly with stakeholders. By being proactive in sharing information, companies demonstrate accountability and a commitment to addressing the situation transparently.

Navigating Financial Challenges

Financial difficulties often accompany crises, and how a company handles these challenges speaks volumes about its commitment to transparency. Instead of resorting to layoffs or other cost-cutting measures without explanation, transparent companies communicate the rationale behind these decisions. Sharing the broader financial picture, including cash flow projections and debt management plans, fosters understanding and reduces speculation.

Transparency extends to financial reporting as well. Companies should be forthright about the impact of the crisis on their financial health. This includes discussing any potential disruptions to revenue streams, acknowledging decreased profitability, and outlining strategies for recovery. By doing so, companies not only build trust with investors but also position themselves as resilient entities capable of adapting to adverse circumstances.

Ethical Decision-Making

Crises often present leaders with ethical dilemmas. Transparent companies prioritize ethical decision-making, even when faced with difficult choices. Clearly communicating the ethical considerations behind decisions helps stakeholders understand the company’s values and reinforces trust.

For example, if a company is forced to make layoffs, transparent communication involves explaining the criteria used for selection, the steps taken to support affected employees, and the long-term strategy for rehiring or retraining. This level of openness demonstrates a commitment to fairness, empathy, and integrity, which can go a long way in preserving trust.

Learning from Mistakes

In the midst of a crisis, mistakes are almost inevitable. What sets transparent companies apart is their ability to acknowledge and learn from these missteps. Whether it’s a public relations blunder, a supply chain disruption, or an operational oversight, admitting fault and outlining corrective actions is essential.

By being open about mistakes, companies humanize themselves and show a willingness to grow. This authenticity resonates with stakeholders, who are more likely to forgive and continue supporting a company that takes responsibility and demonstrates a commitment to improvement.

Building Resilience Through Transparency

Transparency not only sustains trust during a crisis but also lays the foundation for resilience. Companies that prioritize open communication and accountability foster a culture of trust that permeates through all levels of the organization. This trust, once established, becomes a valuable asset during times of upheaval.

Employees in transparent organizations are more likely to weather uncertainty with resilience, knowing that their leaders are committed to honesty and ethical decision-making. Customers, too, are more likely to stick with a brand they trust, even in challenging times. In the long run, the transparency practiced during a crisis becomes a legacy that strengthens the company’s reputation and relationships.

Final Thoughts:

In an era where information flows rapidly, and public perception can make or break a business, transparency is no longer optional; it is a strategic imperative. Navigating a crisis with openness and trust not only helps companies survive the immediate challenges but positions them for sustained success in the future.

As businesses continue to face unprecedented challenges, those that prioritize transparency will not only weather the storm but emerge with a strengthened foundation of trust. The ability to communicate openly, make ethical decisions, and learn from mistakes is not just a business strategy; it’s a commitment to building enduring relationships that can withstand the trials of time. In the transparency journey, companies don’t just manage crises; they transform challenges into opportunities for growth, resilience, and lasting success.

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Precision Selling: How to Create a Step-by-Step Process for Your Product

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SnackTeam
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Product's Sales

In today’s dynamic business landscape, the art of selling has evolved beyond traditional methods. In a world inundated with choices and information, customers seek not just products but personalized solutions that address their unique needs. Precision selling has emerged as a strategic approach, emphasizing the importance of a carefully crafted, step-by-step process to engage customers effectively and drive sales.

The Essence of Precision Selling

Precision selling is a holistic approach that aligns your sales strategy with the specific needs and preferences of your target audience. It goes beyond the one-size-fits-all model, recognizing that each customer is unique. The essence lies in understanding your customers’ pain points, motivations, and behaviors to deliver a personalized experience that resonates with them.

Step 1: Customer Profiling and Segmentation

The foundation of precision selling lies in thorough customer profiling and segmentation. Before you can create a step-by-step process, you need to know your audience intimately. Analyze your existing customer base, conduct market research, and identify common characteristics, preferences, and pain points. Segment your audience based on demographics, psychographics, and buying behavior.

For instance, if you’re selling a software solution, segment your audience based on industry, company size, and specific challenges they face. Understanding these nuances allows you to tailor your messaging and approach to resonate with each segment.

Step 2: Define Clear Objectives and Key Performance Indicators (KPIs)

Once you’ve segmented your audience, establish clear objectives for your precision selling process. What do you want to achieve with each interaction? Whether it’s lead generation, conversion, or building long-term relationships, having defined objectives helps your sales team stay focused and measure success.

Identify Key Performance Indicators (KPIs) that align with your objectives. These could include conversion rates, customer satisfaction scores, or the number of upsells. Regularly monitor and analyze these metrics to refine your precision selling strategy continuously.

Step 3: Craft a Compelling Value Proposition

In precision selling, a generic pitch won’t cut it. Craft a compelling value proposition that speaks directly to each customer segment. Highlight the specific benefits and solutions your product offers to address their pain points. Use language and examples that resonate with each segment’s unique challenges and aspirations.

Your value proposition should not only differentiate your product from competitors but also communicate how it adds significant value to the customer’s specific needs.

Step 4: Personalized Communication Channels

The channels through which you communicate with your audience are as important as the message itself. Leverage a mix of traditional and digital channels, depending on your audience’s preferences. Email, social media, webinars, and personalized sales calls can all play a role in your precision selling process.

Consider the buying journey of each customer segment. Tailor your communication channels to meet them at every touchpoint, providing the information and support they need at each stage of the decision-making process.

Step 5: Implement Data-Driven Insights

Precision selling thrives on data. Leverage customer data, analytics, and artificial intelligence to gain insights into customer behavior and preferences. Use these insights to refine your messaging, optimize your sales process, and anticipate customer needs.

For instance, if your analytics reveal that a particular customer segment tends to drop off during the trial period, proactively address their concerns with targeted communication or additional resources to ensure a smoother experience.

Step 6: Continuous Feedback Loop

The precision selling process is not static. It requires constant evaluation and adaptation. Establish a feedback loop that encourages communication between your sales team, customer support, and customers themselves. Collect feedback on the buying experience, product satisfaction, and any pain points encountered.

Regularly review your precision selling strategy based on this feedback, adjusting your approach to better align with evolving customer needs and market trends.

Step 7: Training and Development

Equip your sales team with the skills and knowledge needed to execute the precision selling process effectively. Provide training on customer profiling, communication strategies, and the use of data-driven insights. Foster a culture of continuous learning to ensure your team stays agile in responding to changing customer dynamics.

Final Thoughts:

Precision selling is a strategic imperative in the modern business landscape. By embracing a step-by-step process tailored to your product and audience, you can create a seamless and personalized buying experience that resonates with customers. From customer profiling to continuous feedback loops, each step plays a crucial role in optimizing your sales strategy and driving long-term success. As the business landscape continues to evolve, precision selling will be the compass guiding businesses toward sustainable growth and customer satisfaction.

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Black Friday fever holds strong in India: Sales to skyrocket by over 70%

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SnackTeam
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ecommerce
(Representative Image)

E-commerce platforms and brands are preparing for strong Black Friday sales as analysts and platform executives anticipate the event’s growing influence in the Indian market, despite its American origins.

Nykaa, Tata Cliq, and Myntra, a Flipkart-owned platform, along with brands such as H&M and Zara, are hosting these sales in India.

Sales in both online and offline markets in India are projected to surge by more than 70% during the Black Friday week this year, as per estimates provided by the market research firm 1Lattice, in comparison to typical business-as-usual (BAU) weeks.

Black Friday in the United States falls on the Friday after Thanksgiving, serving as the busiest shopping day of the year and signaling the commencement of the Christmas shopping season. This sale period often extends to the subsequent Monday, known as Cyber Monday.

Ashish Dhir, the Executive Vice President for Consumer and Retail at 1Lattice, suggests that Black Friday sales will be more advantageous for online sellers in comparison to their offline counterparts. However, some offline sellers are also expected to explore sale events. The enhanced benefit for online commerce stems from its consolidated nature, enabling more effective creation of narratives, advertisements, and discounts for less familiar events like Black Friday compared to the more fragmented offline ecosystem, explained Dhir.

Tata Cliq, the e-commerce company, aims for a 50% boost in revenue from Black Friday sales compared to the previous year across all three of its platforms—the main platform, the premium-focused Tata Cliq Luxury, and the beauty and personal care-focused Tata Cliq Palette, according to CEO Gopal Asthana.

“On Tata Cliq Luxury and Tata Cliq Palette, we are in fact seeing a 5x and 4x jump, respectively, over the non-sale period,” Asthana added.

According to 1Lattice’s Dhir, this year’s Black Friday is anticipated to outperform the previous year, with sales during the week expected to be around 50% to 60% higher than typical business-as-usual (BAU) weeks.

Asthana reported that Tata Cliq experienced a 70% overall growth during Black Friday last year.

In 2022, the e-commerce platform Nykaa recorded 800,000 orders on the initial day of sales, marking a 40% increase compared to the previous year. While the company did not provide estimates for this year’s sales, it mentioned offering discounts of up to 50% on over 2,100 brands.

The momentum is also growing in smaller towns.

“At the end of the day, if you offer a customer certain deals and discounts, he/she will act on it even if he doesn’t fully understand what the offer is for,” Dhir said. “57% of the purchases were made by shoppers from tier-2 and tier-3 cities collectively … Besides metros, the highest orders came from Lucknow, Chandigarh, Ghaziabad, Jaipur, Guwahati and Jammu,” Nykaa said about its 2022 Black Friday sales in an emailed statement.

While Black Friday sales already compete with other events such as Valentine’s Day or Republic Day, they still lag significantly behind the flagship sales during Dussehra and Diwali, and even trail behind Christmas sales, according to Dhir.

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Cantabil surpasses 500 stores, sets sights on Nepal for expansion

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SnackTeam
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Cantabil

Apparel manufacturer Cantabil Retail India is seeking to enhance its global presence by venturing into Nepal with its first Exclusive Brand Outlet (EBO), the company announced in a media release on Friday.

“This marks a new chapter in our journey, and we are eagerly awaiting to introduce the Cantabil experience to a new audience worldwide,” Deepak Bansal, director of the company said.

The clothing retailer also shared that it reached its 500th store milestone by opening a store in Rekabganj, Ayodhya.

On achieving this milestone, Bansal said, “We are not only thrilled about this achievement, but also excited about the prospects it opens for us all over the country.”

In the ongoing fiscal year 2023-24, Cantabil launched 69 exclusive retail outlets spanning 14 diverse cities. The company currently maintains a footprint in over 250 cities throughout India and has intentions to inaugurate additional stores in the upcoming months. It envisions expanding further into Tier II and III cities.

In the current year, the clothing retailer expanded its offerings by venturing into the footwear and athleisure category, debuting its initial store in Hapur, Uttar Pradesh. Additionally, the company plans to establish five exclusive brand outlets dedicated to these categories by the year’s end.

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Grocery retailer The Organic World to expand nationwide with 100 stores by 2025

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SnackTeam
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The Organic World
The Organic World

The Organic World, a grocery store specializing in organic and natural products, aims to expand its presence to 100 stores by the end of 2025. The retailer, which recently inaugurated its latest store in Bengaluru, currently operates 17 stores.

The retail expansion strategy will incorporate both COCO (Company Owned, Company Operated) and FOMO (Franchise Owned, Franchise Operated) models. Additionally, although the overarching goal is to establish a nationwide presence, the initial emphasis will be on key markets such as Chennai and Hyderabad.

In line with the company’s value proposition, the new store houses over 2,000 groceries. Gaurav Manchanda, Founder & Director, the Nimida Group, the parent company of The Organic World,said, “We are thrilled to extend our commitment to healthier choices to the vibrant community in ITPL, strategically situated near IT hubs such as Bellandur, Whitefield, and Marathahalli. Our 17th store is not just about expansion but also about empowering individuals to embrace a chemical-free lifestyle by making informed and better choices in their daily and monthly consumption.”

The company’s expansion strategy encompasses investments in company-owned stores and the exploration of the franchise model. This approach aims to make organic choices more widely accessible, fostering a healthier and more sustainable way of living for a broader audience.

It asserts to provide certified organic fruits and vegetables, atta, dals, rice, and flour free from chemicals, dairy and eggs without hormones and antibiotics, cold-pressed oils, pure desi cow ghee, home cleaning essentials devoid of toxins, beauty and personal care products without parabens and sulfates, health and wellness products free from chemicals, and snacks without trans fats. Additionally, it offers a thoughtfully curated selection of childcare products.

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MiSora brings taste of authentic Japanese fusion cuisine to Jeddah

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SnackTeam
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Japanese fusion cuisine

MiSora, an upscale Asian dining establishment, has opened its first location in Jeddah, Saudi Arabia, as reported by Zawya.

Renowned for its Japanese fusion cuisine, MiSora will present guests with traditional sashimi and specialty rolls crafted with a regional perspective.

The recently established location on Prince Sultan Road in the Al Rawdah district will also feature meticulously crafted salads, dim sum, robata, and wok dishes.

MiSora head chef Rafiq Abrahams was quoted by the news agency as saying, “Our intention is not just to serve Japanese cuisine. Our intention is to immerse our patrons in the Japanese culture.

“From the kitchen to the table, from the preparation to the presentation, our dishes will exude the traditions of Japan and I am confident that the locals will notice.”

Chef Abrahams mentioned that the Japanese restaurant will procure top-notch ingredients from around the world.

He added, “Bringing Asian ingredients to the Middle East is something that will keep Misora patrons coming back for more. Ingredients that will entice the taste buds and create a sense of curiosity are the key to maintaining happy patrons.

“My aim is to engage as many senses as possible. It is not just about arousing the eyes and the palate. Patrons need to feel that they are walking into a new world. Those who have been to Japan will have a sense of familiarity.

“We want to foster a warm and inviting atmosphere by training the staff to provide exceptional hospitality whilst patrons feel embraced by the rich cultural tapestry MiSora has to offer.”

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H&M bolsters Indian presence with two more outlets in Pune and Bengaluru

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SnackTeam
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H&M

Swedish fashion brand Hennes & Mauritz (H&M) has opened its 57th and 58th stores in India, marking a significant milestone in its aggressive expansion strategy within the South Asian country.

The most recent additions to H&M’s store lineup in India have been unveiled in Pune and Bengaluru. These new outlets are situated in Phoenix Mall of the Millennium, Pune, and Forum South, Bengaluru, according to a social media post by Louis Coucke, the CFO and country controller for India at H&M, posted on Friday.

The recent expansions bring H&M’s store tally in Bengaluru to six. In Pune, this latest rollout marks the fourth outlet and introduces the brand’s inaugural home concept store in the Maharashtra city.

“We are incredibly happy to open our sixth store in Bangalore. This city has exceeded all our expectations since our first launch in 2016,” said Yanira Ramirez, Country Sales Manager, H&M India.

“We have also seen incredible love for H&M HOME since its launch in India in 2022, and now, we are thrilled to bring this experience to Pune,” Ramirez added.

Market watchers perceive H&M’s expansion strategy in India as aggressive, given that the Stockholm-based fashion brand has opened 58 stores since its entry in 2015. In contrast, its competitor Zara from Spain, operating under the Inditex SA umbrella, has rolled out 21 stores in India, despite entering the market five years before H&M.

Established by Erling Persson in 1947, the Swedish fashion brand H&M made its foray into the Indian market in October 2015. As of November 2023, the brand has expanded its presence to 58 stores across 30 cities in the country. Additionally, H&M provides an online shopping platform accessible through its website, app, and through the fashion e-commerce company Myntra.

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India to lead global sugar industry as Chair of the International Sugar Organisation in 2024

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SnackTeam
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sugar
Sugar (Representative Image)

India, the world’s largest consumer and the second-largest producer of sugar, has accomplished a noteworthy achievement by being appointed as the Chair of the International Sugar Organisation (ISO) for the year 2024.

As outlined in a press release from the Ministry of Consumer Affairs, Food and Public Distribution, this declaration was made at the 63rd council meeting of the ISO in London, underscoring India’s rising prominence in the worldwide sugar industry.

Sanjeev Chopra, Secretary (Food) of the Government of India, expressed India’s commitment to spearheading sustainable practices in sugarcane cultivation, sugar, and ethanol production, and maximizing the utilization of by-products.

With a substantial 15 percent share in global sugar consumption and a noteworthy contribution of 20 percent to global sugar production, India’s influence on global sugar trends is undeniable, as highlighted in the press release.

Being the largest consumer and the second-largest producer of sugar, the country is well-suited to assume leadership of the International Sugar Organisation, the premier international body for sugar-related products, boasting a membership of approximately 90 countries.

As Brazil takes the lead in the Western Hemisphere, India, positioned as the market leader in the Eastern Hemisphere, assumes a crucial role in shaping the dynamics of the global sugar market.

Moreover, the press release emphasized that India’s rise to become the world’s third-largest ethanol producer highlights its dedication to green energy and its efforts to tackle issues associated with excess sugar in the domestic market.

India’s proactive stance on green energy is apparent in the notable surge in ethanol blending, reaching 12 percent in the fiscal year 2022-23, a significant jump from 5 percent in 2019-20.

This aligns with the country’s efforts to reduce dependence on fossil fuel imports and contribute to meeting COP 26 targets. Ethanol production has surged from 173 crore litres to over 500 crore litres during the same period.

The Indian sugar industry has showcased resilience and adaptability, evident during the COVID-19 pandemic. Operating mills during lockdowns and contributing to the country’s demand for hand sanitisers, the industry has proven its robustness.

Importantly, India has become the payer of the highest cane price to its farmers while maintaining efficiency, profitability, and self-sufficiency without relying on government financial assistance.

The sugar industry’s synergy with the government has resulted in a historic low in cane dues pendency. More than 98 per cent of cane dues for the 2022-23 season have been cleared, and over 99.9 per cent of cane dues from previous seasons have been settled, stated the press release.

This reflects the industry’s commitment to prioritizing the well-being of farmers.

India has set a benchmark in keeping domestic sugar retail prices consistent and stable, limiting the increase to just 5 per cent, despite a global surge of about 40 per cent in one year, read the press release.

This consumer-centric approach has positioned India as a responsible player in the global sugar market.

On the technical front, the National Sugar Institute in Kanpur has extended its collaboration with several countries, including Indonesia, Nigeria, Egypt, and Fiji, read the release.

This collaboration aims to share the latest technologies and best practices in the sugar sector, showcasing India’s commitment to fostering international cooperation.

As India assumes the Chair of the International Sugar Organisation for 2024, the nation is poised to lead the global sugar industry toward sustainable practices, collaborative innovation, and responsible growth, further solidifying its standing as a key player in the international arena.

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