The inexpensive and convenient 2-minute Maggi packets have gained popularity as a go-to solution for satisfying hunger or indulging in instant noodle cravings. However, if you decide to enjoy them at the airport, be prepared for a significant dent in your wallet. Sejal Sud, an entrepreneur and YouTuber, recently took to Twitter to express her astonishment at the exorbitant prices of this humble snack in airport establishments. Her tweet quickly went viral, sparking a lively online debate among netizens.
“The saga began with Sejal Sud tweeting about purchasing a plate of Maggi noodles. ‘I just bought Maggi for INR 193 at the airport, and I don’t know how to react. Why would anyone sell something like Maggi at such an inflated price,’ she said in the post on social media.” The content creator also attached her bill with the tweet.
I just bought Maggi for ₹193 at the airport
And I don’t know how to react, why would anyone sell something like Maggi at such an inflated price ? pic.twitter.com/oNEgryZIxx
Her post went viral in a flash, garnering over 736,000 views to date. Users, both frustrated with the exorbitant price tags on airport food and eager to delve into the economics of demand and revenue generation, joined the discussion.
Agreeing with Sud and lamenting costly items at the Airport, one user said, “also, forget about cooked food, did you check the price of the water bottle? 750ml will easily cost INR 60 (minimum).”
I just bought Maggi for ₹193 at the airport
And I don’t know how to react, why would anyone sell something like Maggi at such an inflated price ? pic.twitter.com/oNEgryZIxx
Another user, however, pointed out that the cost may not be so unreasonable when the factors affecting the price are considered. “Ma’am, Maggi costs INR 50, but to sell the same at the airport, it costs a lot of money as the cafe which sells Maggi needs to pay a huge deposit to set up that place, pay huge rent and also some part of the revenue to the airport. And on top of that, pay the staff who make Maggi and get some profit for their investment,” the user wrote.
I just bought Maggi for ₹193 at the airport
And I don’t know how to react, why would anyone sell something like Maggi at such an inflated price ? pic.twitter.com/oNEgryZIxx
The debate on Twitter raged along these two lines, with the occasional humorists interjecting. For instance, one user wrote, “You could learn from us Gujaratis, we always carry Thepla all over the world.”
I just bought Maggi for ₹193 at the airport
And I don’t know how to react, why would anyone sell something like Maggi at such an inflated price ? pic.twitter.com/oNEgryZIxx
In a recent incident in Bihar, a restaurant found itself in hot water after failing to serve sambar alongside its renowned “Special Masala Dosa.” The consequence of this omission was a hefty penalty of INR 3,500. While it is customary for dosas to be accompanied by sambar and chutney, this specific eatery in Buxar overlooked the traditional serving, resulting in a legal dispute.
On August 15, 2022, lawyer Manish Gupta made a delightful choice to celebrate his birthday by treating himself to a scrumptious masala dosa from the renowned Namak restaurant.
Having paid INR 140 for the special treat, his excitement grew as he opened the packed dosa, only to be disappointed by the absence of the customary sambar. Feeling outraged by this oversight, he immediately headed to the restaurant to inquire about the missing sambar.
The restaurant owner’s reported response left much to be desired. In a dismissive manner, he allegedly retorted, “Do you want to buy the whole restaurant for INR 140?”
Not finding satisfaction, Gupta opted to initiate legal proceedings by serving a notice to the restaurant. Unfortunately, the owner remained unresponsive, prompting Gupta to further escalate the matter by lodging a formal complaint with the District Consumer Commission.
Following an 11-month period of anticipation, the Division Bench of the Consumer Commission, headed by Chairman Ved Prakash Singh and accompanied by member Varun Kumar, rendered a verdict of negligence against the restaurant and imposed a fine of INR 3,500.
The division bench acknowledged the “mental, physical, and economic” distress endured by Manish Gupta as a result of the refusal of sambar, thus providing grounds for the imposed penalty. The fine encompassed two components: INR 1,500 for litigation expenses and INR 2,000 as the fundamental fine.
The restaurant has been given a 45-day duration by the court to make the fine payment. If the restaurant fails to comply within this specified timeframe, an additional 8% interest will be levied on the outstanding fine amount.
The public’s response to the verdict has been diverse. On one hand, there are those who consider it a fair consequence for the restaurant’s oversight. On the other hand, some contend that the penalty appears disproportionate for what they perceive as a minor issue.
Conversely, advocates of consumer rights contend that these penalties function as a deterrent, fostering accountability among businesses. They assert that the verdict serves as a vivid reminder to all enterprises to give paramount importance to customer satisfaction and uphold their commitments.
In a determined effort to address the severe environmental and ecological issues arising from the widespread usage of plastic, the government of Nagaland has implemented a comprehensive ban on single-use plastic (SUP) across the state. The objective behind this prohibition is to eliminate the detrimental impact caused by disposable plastics and promote a more sustainable and eco-friendly approach.
This is in compliance with the directives from the Central Pollution Control Board, Ministry of Environment, Forest & Climate and subsequent directives from the Urban Development Department Nagaland (UDD) as per the Environment (Protection) Act, 1986.
On Saturday, the UDD announced a ban on the production, importation, storage, distribution, sale, and usage of carry bags crafted from mod, virgin, or recycled plastic, regardless of their micron thickness.
In addition, the prohibition extends to the production, importation, storage, distribution, selling, and utilization of earbuds featuring plastic handles, plastic sticks intended for balloons, plastic flags, candy sticks, ice-cream sticks, as well as polystyrene (commonly known as Thermocol) utilized for decorative purposes.
The use of plates, cups, glasses, and various types of cutlery including forks, spoons, and knives, as well as items like straws and trays, is no longer permitted. Additionally, the practice of using wrapping or packing films around sweet boxes, invitation cards, and cigarette packets has been banned. Furthermore, plastic or poly-vinyl chloride (PVC) banners that are less than 100 microns thick and stirrers are also prohibited.
A ban on SUP has been issued, and it applies to all individuals, institutions, commercial establishments, educational institutions, offices, shops, hotels, restaurants, religious institutions or faith-based institutions, as well as central and state government departments, agencies, commissions, PSUs, missions, and militaries/paramilitaries. It is mandatory for all these entities to comply with the ban.
The UDD issued a warning, emphasizing that any violation would result in severe penalties. They announced the implementation of routine inspections to ensure compliance, and those found in breach would face substantial penalties for their actions.
Jumping onto the bandwagon, Swiggy has taken a proactive approach to stay ahead of the curve. In a recent interview, Rohit Kapoor, the chief executive officer of Swiggy’s food marketplace, shared an exciting development within the company. Recognizing the transformative potential of artificial intelligence (AI), Swiggy has formed a dedicated team consisting of around five talented individuals. Their sole responsibility is to explore, discover, and implement innovative AI applications throughout the organization. By embracing this strategic move, Swiggy aims to revolutionize its services and solidify its position in the competitive market.
The food and grocery delivery startup has been leveraging AI to generate images of food items and provide descriptions in certain cases as part of its ongoing technological experimentation. Zomato, a major competitor based in Gurugram, has also embraced AI to enhance the customer experience and streamline their operations.
“AI is not a not an area of curiosity anymore, it is an area of active workstream. AI is also a space where we don’t know what we don’t know. So we are not taking a deterministic approach there at all saying it will be only implemented in a certain area, it’s across the business,” Kapoor said.
Although reducing operational costs through the use of AI was an achievement for Swiggy, it was not the sole objective for the startup.
“Until and unless we are boundaryless in our thinking on this one right now we’ll be making a mistake… cost is only one side of it,” Kapoor added.
In a more recent development, the company introduced WhatToEat, an innovative feature designed to enhance the experience of discovering food. This functionality enables users to explore a carefully curated selection of options tailored to their mood and cravings, revolutionizing the way they find and enjoy their meals.
Swiggy has implemented AI technology, primarily in the form of bots, to assist with addressing customer queries.
“Every company has to automate customer complaints at some point and we do it where it makes sense…Can we do better refunds? Yes, we should do much better with refunds,” Kapoor said.
However, he emphasized that customer refunds constitute an inconsequential figure in the company’s profit and loss (P&L) statement, and they will not have a significant impact beyond a certain threshold.
“…refunds are a careful thing to do. Because 99 percent of the refunds are genuine but that one percent will try to misuse the system at times and we must not lose money where nothing was due. We can of course optimise refunds and improve our profitability. But is this a big swing on our P&L? The answer is no,” Kapoor, who spends four hours every weekend – on websites like Midjourney and the like – learning about AI, concluded.
There’s nothing quite like ending a meal on a sweet note—it never fails to bring joy. Whether it’s indulging in a handful of irresistible chocolates, savoring a tub of your favorite ice cream, or delighting in traditional Indian mithai, desserts have a magical way of brightening our day. Among the many delightful sweet treats, street food sweets hold a special allure. The freshly prepared sugary delights found on roadside stalls possess an undeniable charm and entice us with their irresistible flavors. While you may have already experienced the pleasure of tasting numerous popular Indian sweets, did you know that one of them has achieved recognition as one of the world’s best street food sweets?
TasteAtlas, an esteemed online travel and culinary guide originating from Croatia, has recently unveiled its highly-anticipated collection of the “Finest Street Food Sweets Worldwide,” presenting a diverse array of delectable choices to discover. Notably, several Indian sweets have been recognized and celebrated on this prestigious list. Making its mark, Mysore Pak, a delightful confection originating from southern India, proudly secured the 14th rank. Another iconic treat, kulfi, the beloved Indian frozen dessert, claimed a well-deserved 18th position. Adding to India’s sweet glory, the luscious kulfi falooda, a beloved variation of kulfi served with vermicelli and flavored syrup, was honored as the 32nd best street food sweet globally.
Securing the coveted top spot on the list is none other than the pastel de nata, a classic Portuguese egg custard tart. This delectable delicacy traces its origins back to Santa Maria de Belem in Lisbon, Portugal, where resourceful Catholic monks and nuns ingeniously crafted it using leftover egg yolks before the 18th century. The evolution of this treat took a delightful turn when the monks and nuns collaborated with a local bakery, leading to the commercial production and widespread availability of the beloved pastel de nata.
Claiming the impressive second place on the esteemed list is serabi, a delightful street food sweet hailing from Java, Indonesia. These petite Indonesian pancakes are skillfully crafted using rice flour and offer a delightful culinary experience when paired with either coconut milk or shredded coconut. Serabi presents itself in both sweet and savory variations, allowing for a diverse range of taste preferences. These delectable treats can be adorned with a myriad of toppings, ranging from luscious jackfruit and decadent chocolate to ripe bananas and crunchy crushed peanuts. The versatility and flavors of serabi truly make it a beloved street food sweet in Indonesia.
Securing an impressive third position is the renowned dondurma, a Turkish ice cream with its roots tracing back to Kahramanmaras, Turkey. This exceptional frozen delight is celebrated for its remarkable resistance to melting, making it an extraordinary treat to savor. Dondurma’s distinctive feature lies in its dense and delightfully chewy texture, adding an enjoyable element to each mouthful. The combination of its unique qualities has catapulted dondurma to great popularity, making it a cherished and sought-after street food sweet in Turkey.
Although India’s Mysore Pak, kulfi, and kulfi falooda have certainly left a lasting impression on the list of the world’s finest street food sweets, the ultimate crown belongs to Portugal’s pastel de nata. Alongside a myriad of other delectable treats from different corners of the globe, these sweet wonders consistently captivate our palates, transforming street food exploration into a thrilling culinary voyage.
On Saturday, the wholesale prices of tomatoes in Delhi witnessed a significant decline of approximately 29%. This decline occurred right after the launch of a government initiative by the Centre, wherein tomatoes were made available at a discounted price of INR 90 per kilogram through the government-owned consumer cooperative, NCCF.
According to government data, the wholesale price of tomatoes in the national capital witnessed a decline, reaching INR 7,575 per quintal on Saturday from its previous peak of INR 10,750 on Friday. Despite this decrease, there was no corresponding adjustment in the retail price, with the average price at outlets remaining unchanged at INR 178 per kg, the same as Friday. Officials have mentioned that it typically takes a day or two for the impact of the wholesale price drop to be reflected in the retail market.
The National Cooperative Consumers’ Federation (NCCF) facilitated the sale of approximately 24 tonnes of tomatoes on Saturday. This was accomplished through the utilization of their vans and the distribution across Safal outlets in Delhi, Gurgaon, Faridabad, and Noida. The previous day, Friday, saw a total sale of around 18 tonnes.
“We are selling all the best quality tomatoes that we are getting from other states. This will continue till prices fall significantly,” said an official.
According to the price monitoring cell of the consumer affairs ministry, the wholesale price of a crucial kitchen item has shown a consistent rise, starting from INR 9,400 per quintal on July 10 and reaching INR 10,750 on July 12. These prices remained stable for the following two days. Officials have taken measures by deploying several NCCF vans throughout the NCR, and with more outlets selling tomatoes at a fixed price of INR 90, it is expected that the prices will gradually decrease in the coming days.
Regarding the retail prices, there was a significant increase, with a jump from INR 127 per kilo on July 10 to INR 178 on Friday.
Despite a significant increase in revenue, Avenue Supermarts Ltd recorded a modest 2.3% year-on-year (YoY) growth in net profit for the quarter ending in June, amounting to INR 695.36 crore.
The operator of the hypermarket chain announced a year-on-year revenue growth of 18% for the quarter, reaching INR 11,584.40 crore.
The board has additionally granted permission to provide employee stock options, contingent upon shareholders’ approval at the upcoming annual general meeting.
As part of the ESOP scheme 2023, the company intends to extend an offering of up to 1,500,000 options. These options, upon exercise, would entitle the holders to an equivalent number of equity shares valued at INR 10 each in the company.
“Options shall be granted to eligible employees who are in General Management “G” Grade and who are in employment of the company as on the date of grant,” the D-Mart chain operator said.
Avenue Supermarts experienced limited net profit growth due to a subdued operational performance. The company’s operating profit, which is determined by earnings before interest, taxes, depreciation, and amortization (EBITDA), only increased by 2.8% compared to the previous year, reaching INR 1,036 crore.
The operating margin experienced a significant decline of 133 basis points compared to the previous year, resulting in a current operating margin of 8.95%. This decrease can be attributed to a decrease in gross margins.
“Overall, gross margins are lower compared to the same period in the previous year, primarily due to lower sales contribution of apparel and general merchandise,” said Neville Noronha, CEO & Managing Director.
According to Noronha, the contribution from general merchandise is showing signs of recovery and is moving closer to the levels seen before the pandemic. In the quarter, the company expanded its operations by opening three new stores, bringing the total number of stores to 327.
During the quarter under review, there was a significant increase in total expenses, which surged by 20% compared to the previous year, amounting to INR 10,700 crore. The cost of employees also experienced a rise of 13.4% from the previous year, reaching INR 178 crore. In terms of taxes, the outgo for the quarter totaled INR 236.32 crore, slightly higher than the INR 230.2 crore paid during the same period last year.
Pizza Hut, the leading quick-service restaurant chain, has made remarkable strides in expanding its presence over the past two years. With a doubling of its store count to over 820 locations, the company has solidified its position in the market. Looking ahead, Pizza Hut shows no signs of slowing down its growth trajectory. A top company official has confirmed the brand’s commitment to an “aggressive expansion spree,” with a particular focus on emerging smaller markets. This strategic move aims to further strengthen Pizza Hut’s foothold and capitalize on untapped opportunities.
According to Merrill Pereyra, the Managing Director of Pizza Hut Indian Subcontinent, the company has shifted its focus towards two key demographics: ‘Gen Z’ and the expanding middle class. This middle class is steadily progressing up the consumption ladder, exhibiting greater purchasing power.
Pizza Hut is prioritizing its growth strategy by targeting emerging markets in Tier II and III cities. These markets already account for 50 percent of its business in India, and the company aims to capitalize on the untapped potential that lies within these areas.
During the first quarter, which concluded on March 31, 2023, Pizza Hut India Subcontinent achieved an impressive 16 percent growth in System Sales.
“In the last two years, we have doubled our estate. We have gone from 417 restaurants to 820. We plan to keep that expansion going. We believe in the country,” said Pereyra.
Though he did not share the projected numbers of restaurants, he said, “We have been here for 25 years and we want to keep growing. We will keep growing and there is no reason to slow down.”
In 2022, Pizza Hut India accomplished an impressive System Sales Growth of 47 percent, surpassing all other Pizza Hut subsidiaries worldwide.
Pereyra stated that in Asia (excluding China), there is approximately one Pizza Hut restaurant for every 300,000 people, whereas in India, this ratio is significantly higher, with one restaurant for every 3 million people.
“This shows how much more we can penetrate here. This shows the opportunity how much this market can grow,” he said.
According to Pereyra, there lies “enormous potential” in expanding into India to connect with the youthful consumer base within the ‘untapped’ Tier II and Tier III markets.
“We have made a significant commitment to expanding our presence in emerging markets… With an aim to further harness the potential that exists in these markets, 50 per cent of our total stores have been strategically opened in these regions,” he said.
Presently, Pizza Hut’s business is divided, with 50 percent of their revenue stemming from delivery services, while the remaining portion originates from dining and takeaway sales.
While discussing the expansion of the domestic QSR (quick service restaurant) industry, he mentioned that it is positioned to experience a Compound Annual Growth Rate (CAGR) of 11.9 percent over the next five years, resulting in a market worth around USD 80 billion.
“There is enough growth potential in India for a business like ours for more than 10 years. The middle-class people are moving up in the buying power,” he added.
In India, Pizza Hut operates a network of 820 quick-service restaurants (QSR) across 200 cities through its two franchise partners, Devyani International Ltd and Sapphire Foods.
“We have maintained a long relationship with our franchisee partners, and they have been performing very well,” said Pereyra.
Pizza Hut’s menu also caters to the Indian taste palates, offering a delightful array of options.
“We have recently launched exciting new pizza flavours like Mazedar Makhni Paneer, Dhabe Da Keema and Nawabi Murg Makhni to make our products even more appealing to the Indian palate,” he said.
Further, the company has introduced Chicken Seekh Kebab crust, acknowledging the love Indians have for this iconic snack. “We even brought in the epic Momo Mia pizza, which allows customers to relish their most loved street food item,” he said.
Pizza Hut has expanded its presence by joining the government-supported Open Network for Digital Commerce (ONDC) platforms. This move, as stated by Pereyra, not only enhances their customer reach but also contributes to their overall growth.
“India has a vast young population, further offering ample scope for all platforms and players to grow and flourish. In this light, we view ONDC as another opportunity for us to enhance its accessibility and reach with consumers,” he said.
Pizza Hut is owned by Kentucky, US-based Yum! Brands Inc, which also owns other QSR brands such as KFC and Taco Bell.
Nestlé India has finalized plans to allocate INR 894 crores for the establishment of a new food processing unit in Odisha. This investment is anticipated to deliver a substantial uplift to the industrial sector of the state.
The company has also obtained the necessary approval from the authorities, and it is anticipated that approximately 800 individuals will be hired by the company.
This is Nestlé’s 10th production facility in India, dedicated to the manufacturing of packaged food products.
The upcoming plant will be situated in Khurda district, which is in close proximity to Bhubaneswar, the capital of the state.
In response to the substantial surge in sales over the past few years, Nestlé made a significant investment of INR 700 crores in the establishment of its ninth plant in Sanand, Gujarat. This strategic move aimed to enhance the company’s production capacity and reinforce its commitment to meeting growing market demands.
Amidst the Covid-19 pandemic, the company experienced a significant growth in net sales, reaching INR 16,790 crores with a compound annual growth rate (CAGR) of 11%. Additionally, the company’s net profit witnessed a CAGR of 6.7%, amounting to INR 2,305 crores in the calendar year 2022. It is worth noting that Nestlé follows a financial year schedule that spans from January to December.
Marico, one of the leading home-grown fast-moving consumer goods (FMCG) firms, reveals in its latest annual report an ambitious projection for its food business. Anticipating significant growth, the company envisions its food division scaling up to INR 850 crore in the fiscal year 2023-24.
The report emphasizes that Marico’s master brand, Saffola, which offers a variety of healthier food options, has successfully widened its total potential market to more than INR 10,000 crore. This expansion was achieved by introducing a diverse range of nutritious value-added products.
Marico aims to boost its revenue from the foods portfolio to INR 850 crore by the fiscal year 2024, following a successful performance of nearly INR 600 crore in the fiscal year 2022-23. In recent years, Marico has made significant strides in the food segment, diversifying its offerings with a range of products under the Saffola Munchie brand. This expansion includes oats, honey, noodles, peanut butter, mayonnaise, and ready-to-eat healthy snacks.
The company places great emphasis on several key factors to drive the growth of its food business. These include unwavering focus on market development, brand building, supply chain excellence, distribution expansion, and sustained innovation.
Marico has experienced a significant transformation in its domestic revenue composition, thanks to its innovative portfolios in the areas of food, premium personal care, and digital-first segments. In FY20, these portfolios accounted for only 8% of their domestic revenues. However, by FY23, they have successfully grown to represent 15% of the company’s domestic revenues. Looking ahead, Marico anticipates a further expansion, with the share of these portfolios projected to reach 20% of domestic revenues by FY24.
Marico has set its sights on expanding its premium personal care offerings, with the ambitious goal of achieving a Compound Annual Growth Rate (CAGR) surpassing 20%. This growth will be driven by a combination of innovative product development, deep market insights, and leveraging the company’s robust brand equity.
The existing lineup of digitally-focused brands within the company is displaying robust growth and is projected to achieve a run-rate of INR 400 crore by the end of FY24.
Marico recorded a consolidated turnover of INR 9,764 crore for the fiscal year concluding on March 31, 2023. Within this, its domestic business accounted for INR 7,351 crore in turnover, showing a slight increase compared to the preceding year. However, the volume growth remained modest at 1%, primarily due to ongoing retail inflation, which had an impact on consumption patterns, especially in rural regions.
Despite the challenges posed by inflation, Marico’s India business displayed resilience, achieving an operating margin of 19.8%, surpassing the previous year’s performance. This improvement was attributed to a combination of factors, including a decline in key commodity prices and a favorable mix of products within the portfolio.
In Marico’s domestic operations, the Parachute brand of coconut oil accounted for 37% of the revenue, while the Saffola franchise, which offers high-quality refined edible oils, contributed 23% to the overall revenue.
During the fiscal year 2023, the food sector experienced impressive growth, with a notable 20% increase in revenue, approaching the significant milestone of INR 600 crore. This growth can be attributed to the exceptional performance of the core oats franchises and the growing popularity of newly introduced products throughout the year.
Marico possesses a vast network that caters to 5.6 million outlets via 900 distributors and 7,500 stockists.
During his speech to shareholders, Saugata Gupta, the CEO and MD of Marico, recognized a decline in general trade as a result of consumption challenges faced by rural India and lower-middle-income segments in urban areas. He emphasized the changing patterns of consumer behavior, indicating a growing preference for alternative channels like modern trade and e-commerce, especially in urban regions.
Marico is actively investing in the development of a comprehensive distribution strategy that encompasses multiple channels, embraces agility, and relies on data-driven insights. The company’s objective is to enhance its market position in various channels by forming strategic alliances, implementing channel-specific product strategies, and fostering customer engagement. Marico recognizes the immense opportunities present in the Indian market and firmly believes that both traditional and alternative channels can coexist and thrive in a mutually beneficial manner.
In order to extend its influence in rural areas, Marico intends to broaden its network of stockists and strengthen its presence in urban regions through targeted efforts aimed at chemists, cosmetics stores, and specialty food outlets.
Gupta highlighted the strategic importance of Marico’s dedicated foods Go-To-Market strategy, placing it as a top priority. This strategy is centered around targeting premium specialty food stores, with the objective of achieving rapid growth in the food business by increasing the availability of a wider range of products, ensuring effective in-store execution, and engaging shoppers effectively. The foods Go-To-Market approach has successfully expanded to more than 20 cities and is actively working towards fortifying its network and enhancing distribution coverage.
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