Flipkart’s grocery segment expands rapidly, achieving 1.6X YoY growth

May 21, 2024

Flipkart, a leading player in the e-commerce sector, has seen a remarkable 1.6X year-on-year growth in its grocery segment. This milestone highlights Flipkart’s dedication to delivering a comprehensive online shopping experience to consumers across India, offering a wide selection of daily essentials at competitive prices.

Flipkart Grocery prioritizes offering fresh produce at competitive prices. To build consumer trust, all products display manufacturing and expiry dates, ensuring transparency and freshness. The platform is expanding its presence in major metropolitan areas, including Bangalore, Chennai, Kolkata, Mumbai, and New Delhi, as well as in tier 2 and smaller towns. This expansion includes growing consumer bases in cities like Aurangabad, Bankura, Bokaro, Chhatarpur, Guwahati, Jamshedpur, Krishnanagar, and Visakhapatnam.

Continue Exploring: E-commerce giant Flipkart expands grocery operations with new center in Visakhapatnam

It distinguishes itself as the sole e-commerce company providing next-day delivery in over 200 cities, spanning major metros and smaller towns such as Anantapur, Berhampore, Gorakhpur, Moradabad, Nagaon, Saharsa, Shimoga, and Vellore. With products starting at just INR 5, Flipkart Grocery attracts cost-conscious consumers, reinforcing its reputation as a destination for value.

Top-performing categories include essential staples like oil, atta, as well as FMCG products such as tea, detergents, and personal care items. Premium categories have also experienced significant growth, with liquid detergents increasing by 1.8 times, and both dry fruits and energy drinks growing by 1.5 times.

Continue Exploring: Flipkart’s UPI hits new high: Records 5 Million transactions in March

To address rising demand, Flipkart has upgraded its grocery supply chain infrastructure, establishing 11 grocery fulfillment centers in strategic locations such as Ahmedabad, Bhubaneswar, Chennai, Hubli, Hyderabad, Kolkata, Ludhiana, Malda, Patna, Sonipat in Delhi NCR, and Visakhapatnam. These centers span over 1.2 million square feet and have a capacity of nearly 2.1 million units, processing 160,000 grocery orders daily.

Utilizing in-house technology, it has streamlined its operations to meet the growing demand for online groceries. Innovations like voice-enabled shopping, zero-interest credit, and open-box delivery have played a crucial role in improving the overall customer shopping journey. Moreover, data analytics are utilized to provide competitive pricing, identify customer clusters for efficient proximity, and enable real-time delivery tracking.

As part of its sustainability drive, the e-commerce giant now completes over 50 percent of its grocery deliveries using electric vehicles (EVs), reflecting a remarkable 140 percent year-on-year surge. Pioneering in states such as New Delhi, West Bengal, Maharashtra, Karnataka, Telangana, and Tamil Nadu, Flipkart is committed to fostering a more eco-friendly future. Further initiatives involve delivering groceries in reusable totes and employing eco-conscious packaging materials to curtail waste and lessen environmental footprint.

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Hari Kumar G, Vice President and Head of Grocery at Flipkart, said, “The growth of Flipkart in the grocery sector mirrors our steadfast dedication to fostering innovation and prioritizing customer needs in emerging categories, all while ensuring competitive value for everyday grocery essentials. As we continue to expand and improve our services, our focus remains on providing unparalleled convenience to millions of customers throughout India.”

“At Flipkart, our aim is to establish pioneering benchmarks in the digital grocery arena, reaffirming Flipkart as the top pick for customers. We are steadfast in our commitment to making e-grocery accessible to every corner of the nation. With our dynamic team and customer-centric philosophy, we are on the brink of transforming the way India approaches online grocery shopping,” he added.

Continue Exploring: Flipkart expands grocery operations with fourth fulfillment center in West Bengal

Lost Sheep Coffee unveils fully traceable RTD iced coffee range

SnackTeam

May 21, 2024

Lost Sheep Coffee, a UK-based coffee roaster, has introduced a new line of barista-quality, specialty grade RTD canned iced coffees.

Available in two flavors, mocha and latte, these milk-based iced coffees feature Lost Sheep Coffee’s signature Get To The Hopper blend. Crafted from beans sourced from Paranaiba, Brazil, and Huila, Colombia, these beans undergo hand-roasting at the brand’s Whitstable-based roastery. The result is a rich and creamy concoction with notes of chocolate and caramel.

Both beverages are crafted with skimmed milk, ensuring they contain fewer than 85 calories per can, catering to the increasing consumer preference for lighter choices. Additionally, they boast traceability from ‘farm to can’, meeting the demand for transparency and accountability in sourcing.

Continue Exploring: Nescafé unveils premium Espresso Concentrate Coffee for barista-style home brewing

Stuart Wilson, the creator of Lost Sheep Coffee, remarked, “As Gen Z consumers show a preference for ready-to-drink coffee over hot brews, the category is vibrant. However, currently in the UK, no other brand offers ‘farm-to-can’ traceable, specialty-grade beans in a milk-based ready-to-drink coffee format.”

He further elaborated, stating, “While numerous ready-to-drink coffee offerings rely on instant coffee, ours stands out with its use of specialty-grade coffee beans, the pinnacle of quality globally. Sourced meticulously, our beans hail from Paranaiba, Brazil, cultivated at an elevation of 1100 meters above sea level, alongside carefully selected beans from Huila, Colombia, grown at altitudes ranging from 1500 to 2000 meters.”

“In the ready-to-drink market, this degree of traceability sets us apart, positioning us perfectly to revolutionize the category with a novel, specialty-grade product that is both innovative and competitively priced.”

Wilson clarified that, considering 35% of consumers express interest in RTD coffee offering functional benefits, the brand anticipates expanding the range to include products fortified with added protein and vitamins within the upcoming months.

The RTD iced coffees can be found at numerous UK retailers, priced at an RRP of £2.20 per can.

Continue Exploring: Subko Coffee Roasters reports 94% surge in sales to INR 13.5 Cr in FY23

Conscious Chemist partners with GoKwik to accelerate digital expansion and enhance shopper experience

SnackTeam

May 21, 2024

Conscious Chemist, a Gurugram-based skincare and cosmetics brand, has partnered with the e-commerce enablement platform GoKwik.

Through this partnership, Conscious Chemist aims to expand its presence across major Indian cities and towns, enhancing brand growth and optimizing the shopper experience.

“We are already seeing a 42% increase in conversions on our website since integrating with GoKwik. We are confident that this partnership will be a pivotal chapter in the next phase of our growth journey,” said Robin Gupta, founder and CEO of Conscious Chemist.

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Conscious Chemist experienced significant growth following its feature on Shark Tank India, with revenue increasing fourfold and website traffic jumping fivefold. The company now plans to deepen its digital D2C presence by leveraging GoKwik’s technology and data science capabilities. This will optimize the checkout process through seamless login experiences, automatic address pre-filling, extensive payment options, and strategic discounts, all aimed at accelerating revenue growth.

Within a short period, following its partnership with GoKwik, Conscious Chemist has witnessed a surge in order volume by 20% and an uplift in GMV of 88%.

GoKwik CEO and co-founder Chirag Taneja said, “We are pleased to support them in elevating their growth and expanding their digital footprint.”

Conscious Chemist has recently secured INR 1 crore in debt from Recur Club to fuel its marketing efforts, product research, and digital expansion. The collaboration with GoKwik further reinforces its commitment to facilitating future expansion endeavors.

Continue Exploring: Skincare brand Conscious Chemist secures INR 1 Crore debt capital from Recur Club to fuel growth and expansion

GoKwik hosts a diverse array of over 1500 e-commerce brands spanning fashion, beauty, health, nutrition, electronics, and various other vital categories. Notable brands in its portfolio include Lenskart, Neemans, Man Matters, Good Glamm Group, and Shoppers Stop, among others.

Third Wave Coffee expands Mumbai presence with 23rd store in Santacruz

SnackTeam

May 21, 2024

Third Wave Coffee, a quick service restaurant (QSR) brand, has launched its 23rd store in Mumbai. Situated at Santacruz, the new outlet represents its sixth collaborative space with the Mumbai-based bookstore chain, Crossword Bookstores.

Rajat Luthra, CEO of Third Wave Coffee, remarked, “The addition of our new Santacruz location not only expands our presence in Mumbai but also underscores our dedication to nurturing community ties and promoting a culture centered on reading and learning.”

This marks the coffeehouse chain’s 118th location across the country.

Continue Exploring: Third Wave Coffee appoints former KFC CEO Rajat Luthra as new chief, Sushant Goel transitions to board role

Nidhi Gupta, director of Crossword Bookstores, expressed, “Nestled within the welcoming atmosphere of Crossword Bookstore, this latest Third Wave Coffee establishment provides visitors with an ideal environment to savor a high-quality coffee experience amidst a sanctuary of books.”

Gupta added, “This partnership further integrates the realms of outstanding coffee and intellectual engagement, offering a perfect destination for both coffee aficionados and bibliophiles.”

Founded in 2017 by Sushant Goel, Ayush Bathwal, and Anirudh Sharma, Third Wave Coffee operates under Heisetasse Beverages Private Ltd., an Indian company with cafes in various cities across India, including Hyderabad, Coonoor, Bengaluru, Delhi, Mumbai, Chandigarh, and Pune.

In September 2023, the company secured $35 million in Series C funding from Creaegis and its existing investor, WestBridge Capital. The funding is earmarked for nationwide expansion, bolstering its supply chain, advancing capabilities, and technology investments.

Continue Exploring: Third Wave Coffee raises $35 Million in Series C funding round led by Creaegis, plans to enhance cafe experience and expand technology innovation

Beauty platform Nykaa grants 4.05 Lakh ESOPs ahead of Q4 results

SnackTeam

May 21, 2024

Nykaa, a leading beauty and fashion ecommerce platform, has granted 4.05 Lakh stock options under its Employee Stock Option Policy (ESOPs) scheme ahead of its earnings call for the quarter and year ending March 31, 2024 (FY24).

Based on the opening price of INR 176.75 on May 21, the allocated stocks’ valuation could be approximately INR 7.15 Cr.

This comes nearly two years after the company’s last major employee stock option grant. Under Nykaa’s ESOP 2022 scheme, 16 lakh shares were granted to its employees, along with 4 lakh units under the Stock Unit Plan, 2022.

Continue Exploring: Nykaa shares rally 6% as company anticipates ‘high-twenties’ revenue growth in Q4

Employees who received stocks could exercise their rights at the face value of Nykaa shares on the grant date, provided they did so within 90 days of issuance, according to the company’s prior disclosure regarding the Stock Unit Plan.

By allotting new stock plans, the company joins the ranks of startups using this strategy to enhance their employer brand profiles, which have suffered significant damage due to multiple mass layoffs reported within the ecosystem.

Data indicates that approximately 55% of founders are relying on ESOPs to attract the Indian workforce back to the startup ecosystem in 2024.

This trend has led numerous companies to allocate stock options to their workforce. For example, the logistics unicorn Delhivery disclosed the issuance of 75,000 stock options through its ESOP 2012 program just last week. Likewise, notable players such as Paytm, Cartrade, PocketFM, Spinny, and Cred have recently extended stock grants to a larger portion of their employees over the past few months.

For the Falguni Nayar-led beauty marketplace and house of brands, the announcement of ESOPs comes as it prepares to reveal its financial results for Q4 FY24 and FY24. Nykaa expresses confidence in reporting robust growth for the quarter.

Continue Exploring: Fashion, grocery, and general merchandise to dominate two-thirds of Indian e-commerce market by 2027: Nykaa CEO Falguni Nayar

In April, the company projected a “mid-twenties YoY” increase in revenue for the entire financial year 2024. It also forecasted “early thirties” growth in gross merchandise value (GMV).

In its last disclosed financials for Q3 FY24, the company witnessed a notable surge in its net consolidated profit, more than doubling to INR 17.4 Cr compared to the INR 8.5 Cr profit recorded in the same quarter of the previous year. Furthermore, its operating revenue experienced significant growth, increasing by 22% to INR 1,788 Cr in the reported quarter from INR 1,462 Cr posted in Q3 FY23.

Continue Exploring: Nykaa continues strong growth trajectory: Q3 net profit doubles YoY to INR 17.4 Cr

Target slashes prices on thousands of essentials as inflation drives customers to seek deals

SnackTeam

May 21, 2024

This summer, Target aims to lower prices on a wide range of everyday essentials, spanning from diapers to milk. With inflation putting pressure on household finances and an increasing number of Americans scrutinizing their expenses, the retail giant is responding by making these staples more affordable.

Already implemented on 1,500 products, the price reductions will eventually extend to 5,000 items including food, beverages, and essential household supplies. Target and similar retailers are adapting to the needs of customers facing rising grocery costs, although inflation is showing signs of easing. Many consumers are opting for private label brands offered by Target and other major retailers, which are often more budget-friendly than popular name brands.

In January, Target introduced a collection named Dealworthy, featuring nearly 400 essential items spanning from apparel to electronics, priced at under $1, with the majority priced below $10.

Recently, McDonald’s announced its intention to launch a $5 meal deal in the U.S. next month, aiming to combat declining sales and customer dissatisfaction due to increased prices. Meanwhile, Walmart reported robust quarterly sales, attributed to a surge in customer traffic, including affluent households earning over $100,000, in search of deals.

Continue Exploring: McDonald’s and Krispy Kreme join forces to bring doughnuts to all US outlets

Target is acutely aware of the spending restraint among shoppers and, in March, disclosed its first annual sales decline in seven years.

In the initial three months of this year, inflation has surged unexpectedly, following a steady decline in the latter half of 2023. The heightened figures at the start of 2024 have dampened optimism regarding the containment of the most severe inflationary period in four decades, sparking concerns of a potential resurgence in prices.

Last week’s latest inflation report indicated that prices, at least for the previous month, had started to decline once more.

On Monday, Target Corp. announced that the reduced prices will be gradually introduced throughout the summer on both national brands and its own private labels.

“In addition to our consistently low everyday prices, which we regularly fine-tune to remain competitive in the market and ensure that you receive excellent value every day,” the company stated in a prepared announcement.

Target is expected to provide further insights into its understanding of customer behavior and its strategies for addressing any shifts when it unveils its quarterly financial report on Wednesday.

Continue Exploring: India’s retail inflation eases to 11-month low of 4.83% in April, food prices remain a concern

Burger King’s parent company completes $1 Billion acquisition of Carrols Restaurant Group

SnackTeam

May 21, 2024

Restaurant Brands International Inc., the parent company of Burger King, has finalized its previously announced purchase of Carrols Restaurant Group, Inc.

In this agreement, RBI is obtaining all remaining shares of Carrols, not currently owned by the company or its affiliates, at $9.55 per share in cash, totaling a valuation of Carrols at around $1.0 billion.

Continue Exploring: Burger King’s parent RBI to acquire Carrols Restaurant Group for $1 Billion

By acquiring the largest Burger King franchisee in the United States, RBI expands its portfolio in line with the “Reclaim the Flame” strategy. As stated earlier, RBI intends to inject an extra $500 million to expedite the refurbishment of more than 600 Carrols eateries. Once the renovations are complete, RBI aims to transfer ownership of most acquired establishments to new or current smaller franchisees within the next seven years.

For the acquisition’s financing, RBI subsidiaries obtained a modification to their current credit arrangement, boosting their borrowing limit by $700 million to reach $5.9 billion in total. These funds, combined with existing cash reserves, facilitated the completion of the acquisition, encompassing the settlement of Carrols’ credit arrangement and the redemption of its outstanding debt.

Continue Exploring: Burger King sweetens its menu with new frozen cotton candy drink

Radico Khaitan’s Magic Moments Vodka achieves remarkable milestone, sells 6.3 Million cases, surpassing INR 1000 Crores in FY24

SnackTeam

May 21, 2024

Radico Khaitan Limited, a leading IMFL company, has achieved a remarkable milestone with its flagship brand, Magic Moments Vodka. In the fiscal year 2024, the brand exceeded expectations by selling over 6 million cases, totaling sales worth INR 1000 Crores. This achievement signifies a substantial growth for Magic Moments Vodka compared to the previous fiscal year’s sales of 5.2 million cases.

Since Radico Khaitan introduced Magic Moments Vodka into the premium category in 2006, it has swiftly become a favorite among consumers, firmly establishing itself as India’s premier vodka brand and the 7th largest globally until last year. With forthcoming rankings, it is poised to climb higher this year. Currently commanding a nationwide market share of 60%, the brand has witnessed an impressive 21% volume growth compared to the previous year, a testament to its strong appeal and consumer preference. Magic Moments Vodka’s success can be attributed to its ability to captivate consumers with its smooth and refined flavor, coupled with innovative marketing strategies, resulting in unprecedented sales figures.

Continue Exploring: Radico Khaitan reports 26.43% rise in Q4 FY24 net profit

Expanding its range of spirits, Magic Moments made a splash with the recent introduction of Pink Vodka and the Holi Hai Edition towards the close of the financial year. The enthusiastic response from consumers underscores the brand’s keen market insight, making substantial contributions to its overall sales. Magic Moments Vodka offers a wide range of products in both the Semi-Premium and Premium Vodka categories, including Magic Moments Remix, Verve, and Dazzle. Additionally, the brand offers a selection of ready-to-drink vodka-based cocktails, catering to the diverse palate preferences of its consumers.

Continue Exploring: Radico Khaitan launches flavor-filled Magic Moments Remix Pink Vodka

Moreover, favorable word-of-mouth endorsements have bolstered the brand’s reputation and widespread acclaim. Given that newcomers to the liquor scene frequently seek recommendations, Magic Moments Vodka’s well-established name and exceptional quality have positioned it as a top choice for first-time liquor consumers, thereby playing a crucial role in its sustained success within the vodka market.

Abhishek Khaitan, the Managing Director of Radico Khaitan, expressed his enthusiasm, stating, “This milestone is a testament to Radico Khaitan’s unwavering dedication to delivering excellence to our consumers, as well as the relentless efforts of the Magic Moments team. It’s more than just a celebration for our brand or the company; it’s a tribute to the remarkable support and loyalty of our consumers. Their trust and backing have elevated Magic Moments Vodka to become a household name in India’s liquor industry, crafting memorable experiences for consumers across the nation.”

He further commented, “Throughout the years, Magic Moments Vodka has shown unwavering commitment as the country’s premier vodka brand, constantly innovating with new products, implementing strategic and relevant marketing campaigns, and cultivating a mutual passion for music, all to provide captivating consumer experiences.”

Continue Exploring: Radico Khaitan’s Rampur Asava honored as Best World Whisky in the 2023 John Barleycorn Awards

KFC India unveils four refreshing beverages to beat the scorching summer heat!

SnackTeam

May 21, 2024

As temperatures rise across the country, everyone is wondering: how can we beat the heat KFC India has the perfect solution: four uniquely refreshing beverages that not only beat the heat but krush it! These icy cold drinks are a must-try this scorching summer.

Cool off with the classic Krush Lime, the perfect blend of Indian masala and lemony zest.

For those who enjoy minty flavors, try the Virgin Mojito, a refreshing mix of lemon, muddled mint, and chilled soda.

Continue Exploring: Premiumization trend boosting growth in food chains like KFC, McDonald’s, and Popeyes: ICICI Securities Report

Next on the summer beverages menu is the Masala Pepsi, a spicy twist on the cult classic. Finally, there’s the Mountain Dew Mojito, a tangy blend of mint and lime topped with refreshing Mountain Dew.

Starting at just INR 59, KFC’s new range of refreshing summer drinks is the perfect way to beat the heat.

Beat the heat at a nearby KFC restaurant and sample all four beverages through dine-in or takeaway.

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Indian authorities inspect Everest & MDH units following bans by Singapore & Hong Kong

SnackTeam

May 21, 2024

MDH and Everest Spices (Representative Image)

Indian authorities have engaged with top spice brands Everest and MDH, which have faced bans in Singapore and Hong Kong due to the detection of ethylene oxide. Inspections of their manufacturing facilities have been conducted, and recommendations for corrective actions have been made. “We have held three consultations with the industry,” a senior official noted, emphasizing the industry’s earnest approach in addressing the issue and ensuring compliance with maximum residue limits. It was noted that certain export samples failed to meet standards in the aforementioned countries, prompting the recommendation of corrective actions based on these findings.

Continue Exploring: After Hong Kong Ban, New Zealand investigates contamination concerns in MDH and Everest Spice products

“We are ensuring that supply chain issues are addressed so that those products can be traced to countries, and country-specific guidelines are met with,” said the official. They emphasised that the testing, storage, transportation, and production of spices were all covered by the inspections. All spices exported to Hong Kong as well as Singapore must now undergo an ETO test, according to a statement made earlier this month by the Spices Board of India, the main organisation in charge of spice exports. In 2022, the ministry also required ETO testing for spices going to European markets. In addition, the board has released extensive guidelines that cover this matter and include alternate sterilisation techniques like irradiation and steam sterilisation.

The guidelines also outline standards for packaging, transportation, sample handling, and testing. Non-compliance with ETO regulations by Everest and MDH in Singapore and Hong Kong resulted in the recall and ban of certain batches of their products from these markets.

Hong Kong prohibits the presence of ETO in its food products, while Singapore maintains a limit of 50 parts per million. In the EU, the allowable limit ranges from 0.02 to 0.1 mg per kg. The American Spice Trade Association has acknowledged that ETO is permitted for use in spices. According to US regulations, 7 ppm of ETO and 940 ppm of 2-chloroethanol (2-CE) are allowed. “There is a lack of standardization in ethylene oxide limits or testing protocols globally,” added another official.

Continue Exploring: MDH and Everest spice controversy threatens over half of India’s spice exports, urgent action needed: Report

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