The Akshay Patra Foundation marked the 11th anniversary of its Surat kitchen with a special celebration. Meenaben M Gajjar, the Deputy Municipal Commissioner for PM Poshan Yojna at the Surat Municipal Corporation, graced the event with her presence. Joining her were a prominent gathering of corporate visionaries, distinguished academics, and enthusiastic citizens, all fervent supporters of The Akshaya Patra Foundation’s admirable cause.
This gathering provided a platform for acknowledging and celebrating exceptional students and teachers hailing from Akshaya Patra-supported schools in Surat. These remarkable individuals personify the tangible results of our collective endeavors, providing compelling evidence of the transformative influence of our continuous dedication. This public-private partnership has not only nourished and educated India but also served as a guiding light for sustainability, fostering a brighter future.
Jaganmohan Krishna Dasa, unit-president, Gujarat, aptly states, “In the PM Poshan program, we see the power of unity. Together, we’re forging a future where no child knows hunger, and every mind is enriched with education.”
The Surat kitchen plays a pivotal role in one of Akshaya Patra’s most extensive PM Poshan Mid-Day Meal initiatives, serving more than 375,088 children across Gujarat, with a significant 150,000 beneficiaries in Surat alone.
In the rapidly changing world of business, a successful transaction is just the beginning of your client relationship. Customer involvement does not end when a purchase is made; rather, it begins at that point.
Many businesses emphasize the customer journey leading up to a purchase, but it’s what happens after the sale that can make or break customer loyalty. Post-purchase engagement is vital for several reasons:
Customer Retention: Engaged customers are more likely to stay with your brand. A positive post-purchase experience reinforces their decision to choose you over competitors.
Brand Advocacy: Satisfied customers are your best advocates. When you engage with them post-purchase, you encourage them to share their positive experiences with others.
Cross-Selling and Upselling: Post-purchase engagement provides opportunities to introduce customers to additional products or services, increasing their lifetime value.
Strategies for Effective Post-Purchase Engagement
Express Gratitude
Start your post-purchase engagement with a simple “Thank You.” Expressing appreciation shows that you value your customers. Personalized thank-you notes or messages can go a long way in making customers feel special.
Solicit Feedback
Gather feedback from customers about their experience with your product or service. Surveys and reviews can help you understand what you’re doing right and where you can improve. Showing that you’re open to feedback demonstrates your commitment to customer satisfaction.
Educational Content
Provide customers with educational content related to their purchase. This can include user guides, how-to videos, and tips for making the most of their new product. Empowering your customers with knowledge enhances their experience and increases their satisfaction.
Loyalty Programs
Create a loyalty program that rewards customers for repeat purchases. Loyalty points, exclusive offers, or early access to new products can incentivize customers to keep coming back.
Personalized Recommendations
Leverage data and AI to provide personalized product recommendations based on the customer’s purchase history. This shows that you understand their preferences and can introduce them to products they may not have discovered otherwise.
Social Media Engagement
Interact with customers on social media platforms. Respond to their comments, acknowledge their posts about your brand, and engage in conversations. Social media is an excellent channel for building a community of loyal customers.
Problem Resolution
Make it easy for customers to reach out to you if they encounter issues with their purchase. Quick and effective problem resolution shows that you prioritize their satisfaction.
Exclusive Content and Offers
Provide post-purchase customers with exclusive content or offers. Access to webinars, events, or discounts can create a sense of belonging to an exclusive club, encouraging repeat business.
Anniversary Reminders
Send anniversary reminders to celebrate the time a customer has been with your brand. Whether it’s the anniversary of their first purchase or signing up for your service, marking these milestones reinforces the relationship.
Success Stories in Post-Purchase Engagement
Amazon: Amazon excels in post-purchase engagement with its review requests and recommendations. They leverage customer data to suggest related products and encourage users to review their purchases. This keeps customers engaged and coming back for more.
Starbucks: Starbucks’ loyalty program is a classic example of post-purchase engagement. They reward customers with points for each purchase, which can be redeemed for free drinks and exclusive offers. This keeps customers returning to Starbucks locations.
Zappos: Zappos is known for its exceptional customer service. Their post-purchase engagement includes easy returns, 24/7 customer support, and a 365-day return policy. This level of service keeps customers satisfied and loyal.
The journey with your customers doesn’t end with a purchase; it evolves into a continuous relationship. Post-purchase engagement is an opportunity to reinforce the value of your brand, enhance customer satisfaction, and drive loyalty. By expressing gratitude, soliciting feedback, providing educational content, and implementing loyalty programs, businesses can create a customer-centric continuation that results in brand advocacy and long-term success. In today’s competitive landscape, customer-centric post-purchase engagement is the secret sauce for turning one-time buyers into loyal, lifelong customers.
The process from food discovery to savoring a delectable dish in the modern culinary scene frequently begins with a tap or swipe on a mobile device. As technology continues to alter the way we eat, culinary brands have an unprecedented potential to implement mobile-first strategies that cater to today’s digital-savvy foodies.
The Mobile-First Culinary Revolution
Gone are the days when we flipped through heavy cookbooks or relied solely on restaurant reviews in magazines. Today, our culinary exploration starts with our smartphones. Whether it’s searching for a new recipe, ordering takeout, or reading restaurant reviews, mobile devices have become our gastronomic companions.
The Ingredients of a Successful Mobile-First Strategy
1. User-Friendly Mobile Apps
Culinary brands, be it restaurants, food delivery services, or cooking blogs, should invest in user-friendly mobile apps. These apps should be intuitive, responsive, and provide a seamless experience for users. Ordering food, browsing menus, and making reservations should be as easy as a few taps.
2. Visual Feast: Stunning Food Photography
Mobile users love visual content, and culinary brands can take advantage of this by showcasing mouthwatering food photography. High-quality images of dishes, behind-the-scenes glimpses of the kitchen, and even videos of chefs in action can captivate and entice food enthusiasts.
3. Social Media Engagement
Social media platforms are the modern-day food critics and culinary influencers. Engaging with your audience on platforms like Instagram, TikTok, and Pinterest is essential. Share recipes, cooking tips, and behind-the-scenes stories to build a loyal following.
4. Personalized Recommendations
Leverage data analytics to provide personalized recommendations. Suggesting dishes based on a user’s previous orders or preferences can enhance the customer experience and boost sales.
5. Interactive Cooking Experiences
For cooking blogs and culinary education brands, interactive cooking experiences are a win-win. Mobile apps can include step-by-step guides, ingredient lists, and even timers for recipes, making cooking easier and more enjoyable for users.
6. Mobile-Optimized Websites
For culinary brands with websites, ensure they are mobile-optimized. The majority of users will access your site via their phones, and a seamless mobile experience is paramount.
7. Food Delivery and Reservations
For restaurants, offering mobile-friendly options for food delivery and reservations is essential. Users should be able to reserve a table or place a takeout order with ease.
8. User-Generated Content
Encourage customers to post their culinary creations on social media and tag your brand. Share and celebrate user-generated content to build a sense of community and loyalty.
Success Stories in Mobile-First Culinary Strategies
Uber Eats: Uber Eats has mastered the art of mobile food delivery. Their user-friendly app and personalized recommendations make ordering food a breeze. They also embrace partnerships with restaurants, allowing users to access a wide range of culinary experiences.
Tasty by BuzzFeed: Tasty’s mobile app and social media presence have made cooking more accessible and engaging. Their short cooking videos and easy-to-follow recipes cater to the mobile-savvy cooking enthusiast.
OpenTable: OpenTable’s mobile app simplifies restaurant reservations. Users can easily browse available tables, view menus, and make reservations with a few taps. The app’s convenience has made restaurant reservations an effortless mobile experience.
In a world where screens are the gateway to culinary adventures, embracing mobile-first strategies is essential for culinary brands. User-friendly mobile apps, captivating visual content, social media engagement, personalized recommendations, and interactive cooking experiences are key ingredients for success. By adapting to the mobile-driven culinary landscape, brands can savor the benefits of loyal customers, increased engagement, and growth in the digital age. So, as a culinary brand, remember to not just delight taste buds but also master the art of delighting mobile screens.
In the constantly shifting business scene, your brand image is more than just a logo or a statement. It is the essence of your company’s identity, expressing its values, culture, and mission. In a world where consumers want authenticity and purpose-driven brands, creating a brand image that smoothly matches with your identity is critical.
The Essence of Brand Image
Your brand image is the visual, emotional, and psychological representation of your company. It encompasses how your customers perceive your brand and what your business stands for. A strong brand image not only distinguishes you in a competitive market but also fosters trust and loyalty among your customers.
Start with a Strong Brand Identity
Before crafting your brand image, it’s vital to establish a clear brand identity. Ask yourself:
What are your core values?
What is your mission and vision?
What sets your company apart from the competition?
What is the personality of your brand (e.g., is it playful, serious, compassionate, innovative)?
Who is your target audience, and what do they value?
Understanding these fundamental aspects is the foundation upon which your brand image will be built.
Consistency is Key
A successful brand image relies on consistency. All aspects of your business, from your website to your marketing materials to your customer interactions, should align with your established brand identity. Consistency breeds trust, as it reassures customers that your brand is authentic and reliable.
Visual Elements and Branding
Visual elements play a significant role in conveying your brand image. This includes your logo, color scheme, typography, and design style. These elements should not only be visually appealing but should also reflect your brand’s personality and values.
For example, a brand committed to environmental sustainability might use earthy colors and organic design elements to convey its dedication to the environment.
Emotional Connection
Build an emotional connection with your audience. Your brand image should evoke feelings and resonate with your target demographic. Storytelling is a powerful tool for achieving this. Share your brand’s journey, values, and successes through compelling narratives that engage and inspire your customers.
Authenticity Matters
Authenticity is the cornerstone of a successful brand image. Be genuine and transparent in your communication and actions. If you profess to be socially responsible, for instance, show how your business actively contributes to social causes. Authenticity fosters trust, and trust is a powerful driver of brand loyalty.
Engage with Your Audience
Engage with your audience on a personal level. Respond to their comments and concerns, and actively seek their feedback. By showing that you value their opinions and that their voice matters, you deepen the connection between your brand and your customers.
Case Studies in Authentic Brand Image
Nike: Nike’s brand image aligns with values of empowerment, determination, and achievement. Their “Just Do It” slogan and iconic swoosh logo are synonymous with athletic excellence and personal growth. Nike embodies these values not just through marketing but by supporting athletes and promoting active lifestyles.
Patagonia: Patagonia has built a brand image deeply rooted in environmental sustainability and ethical practices. Their clothing and gear reflect a commitment to reducing environmental impact. Their brand identity is consistently communicated through their actions, from their Fair Trade practices to their “Don’t Buy This Jacket” campaign.
Dove: Dove’s brand image is centered on promoting self-esteem and positive self-image. They’ve consistently run campaigns that challenge conventional beauty standards, promoting inclusivity and authenticity. Dove’s brand image is not just about their products but about their social mission.
Crafting a brand image that embodies your values and aligns with your identity is a multi-faceted process that requires dedication and consistency. A well-defined brand identity, visual elements that reflect your personality, emotional storytelling, authenticity, and genuine engagement with your audience are the cornerstones of a strong brand image. Brands like Nike, Patagonia, and Dove demonstrate that when your image aligns with your values, it’s not just about the products you sell but the impact you make in the world. In the era of conscious consumerism, building a brand image that resonates with your target audience is more crucial than ever.
Concerned consumerism has taken the stage in a world that is increasingly concerned of its environmental impact. Consumers are not only looking for brands that align with their values and sustainability objectives; they are also looking for brands that align with their values and sustainability goals. Converting customers into champions is a strong tactic for organizations that have adopted sustainability.
Conscious consumers are driven by more than just product features or prices. They seek brands that share their commitment to environmental sustainability, ethical practices, and social responsibility. These consumers prioritize transparency, authenticity, and purpose-driven initiatives. To win them over, businesses need to embrace these values and effectively communicate their efforts.
1. Transparency and Authenticity
Conscious consumers value transparency. They want to know where a product comes from, how it’s made, and its environmental and social impact. Brands should be open about their sourcing, manufacturing processes, and supply chain ethics. Authenticity is key. When you communicate your sustainability efforts honestly, consumers are more likely to trust your brand.
2. Certifications and Labels
Consider obtaining recognized sustainability certifications and labels for your products. Labels like “Fair Trade,” “Organic,” and “Recyclable” provide immediate credibility to conscious consumers. These certifications signal that your brand adheres to rigorous environmental and ethical standards.
3. Educational Content
Create educational content that informs consumers about the environmental and social impact of their choices. Blog posts, videos, and infographics can explain complex sustainability topics in an accessible manner. By providing valuable information, you position your brand as a resource for conscious consumers.
4. Storytelling
Share your brand’s sustainability journey through storytelling. Highlight your mission, values, and the positive changes you’re making in the world. Personal stories and testimonials from employees and customers can help convey the emotional connection to your brand’s mission.
5. Eco-Friendly Packaging
Show your commitment to sustainability through eco-friendly packaging. Using recycled materials and minimizing waste not only aligns with conscious consumers’ values but also communicates your dedication to reducing your environmental footprint.
6. Supply Chain Responsibility
Ensure responsible sourcing and manufacturing practices in your supply chain. Auditing suppliers for ethical labor conditions and environmental responsibility is crucial. Consumers appreciate brands that take these measures to protect both people and the planet.
7. Engage in Social Causes
Conscious consumers often support brands that actively participate in social causes. Whether it’s supporting a charity, championing environmental initiatives, or contributing to local communities, demonstrating your commitment to social responsibility can win over advocates of sustainability.
8. Customer Involvement
Engage your customers in sustainability initiatives. Involve them in campaigns, support consumer-driven sustainability movements, and encourage them to participate in recycling or upcycling programs related to your products.
9. Feedback and Improvement
Always be open to customer feedback. Ask for suggestions, and show that you are committed to continuous improvement in sustainability efforts. Consumers appreciate brands that listen and adapt to their concerns.
10. Collaboration and Partnerships
Collaborate with other sustainable brands and organizations. Partnerships can expand your reach and credibility in the conscious consumer community. Joint efforts often garner more attention and support.
Success Stories in Conscious Consumerism
Several brands have successfully converted conscious consumers into loyal advocates:
Patagonia: Patagonia is known for its commitment to environmental causes. The brand engages in various sustainability initiatives and encourages customers to repair their clothing rather than buy new items, promoting longevity and sustainability.
TOMS: TOMS’ “One for One” program has been a powerful driver of conscious consumer support. For every product purchased, the company donates to someone in need, aligning with social responsibility.
Ben & Jerry’s: This ice cream brand not only sources fair-trade ingredients but also advocates for social and environmental causes through its campaigns. Their dedication to these values resonates with conscious consumers.
Converting advocates of sustainable brands into loyal customers is a process that requires authenticity, transparency, and a genuine commitment to sustainability. By aligning your brand with conscious consumer values, educating your audience, and actively engaging in environmental and social causes, you can foster lasting loyalty among this influential group of consumers. Conscious consumerism is more than just a trend; it’s a movement, and businesses that embrace it stand to gain not only loyal customers but also contribute to a more sustainable and ethical world.
Understanding consumer behavior is both an art and a science in today’s ever-changing marketing landscape. It’s a fluid mix of psychology, data analysis, and creativity. Marketers who can decipher the complex patterns of customer behavior have a huge advantage in developing effective tactics that resonate with their target audience.
The Art of Consumer Behavior Analysis
1. Empathy as a Compass
At its core, marketing is about connecting with people. To decode consumer behavior, marketers must tap into their empathetic side. Empathy allows you to understand the motivations, desires, and pain points of your target audience. By putting yourself in their shoes, you can create marketing campaigns that truly resonate.
2. Storytelling
Humans are hardwired to respond to stories. The art of storytelling in marketing involves crafting narratives that engage and emotionally connect with your audience. Stories can make your brand relatable and memorable.
3. Creativity and Brand Identity
A strong brand identity can be a powerful influencer of consumer behavior. Marketers need to nurture creativity to develop a unique brand persona that stands out. Consistency in design, messaging, and tone helps build recognition and trust.
The Science of Consumer Behavior Analysis
1. Data-Driven Insights
The science of consumer behavior relies heavily on data analysis. By collecting and analyzing consumer data, you can gain insights into their preferences, behaviors, and buying patterns. Tools like Google Analytics, customer relationship management (CRM) software, and social media analytics provide valuable information.
2. Segmentation
Segmenting your audience based on demographic, geographic, psychographic, and behavioral factors helps you tailor your marketing efforts. By understanding the unique needs of each segment, you can create more personalized and effective campaigns.
3. A/B Testing
A/B testing involves comparing two versions of a webpage, email, or advertisement to determine which one performs better. This scientific method allows you to make data-driven decisions about what resonates with your audience.
4. Predictive Analytics
Predictive analytics uses historical data to forecast future trends and behaviors. Machine learning algorithms can identify patterns and provide insights into what consumers are likely to do next, enabling marketers to proactively respond.
Valuable Insights for Marketers
1. Consumer Pain Points
Understanding consumer pain points is crucial. Identify the problems your product or service can solve. Address these pain points in your marketing messaging to show how you can make a positive impact in your customers’ lives.
2. Social Proof
Consumers are influenced by the behavior of others. Encourage and showcase customer reviews, testimonials, and case studies. Social proof can significantly impact consumer decisions.
3. Visual Content
Visual content, including images and videos, is highly engaging and can convey complex messages quickly. Incorporate visual elements into your marketing strategy to capture attention and deliver your message effectively.
4. The Power of Scarcity and Urgency
Scarcity and urgency tactics can drive action. Limited-time offers and low-stock alerts can motivate consumers to make a purchase sooner rather than later.
5. Emotional Triggers
Consumer decisions are often emotionally driven. Tap into emotions like joy, fear, nostalgia, or trust to create a connection with your audience. The emotional resonance can lead to more meaningful interactions.
6. Feedback Loops
Collect feedback from customers and continuously refine your marketing strategy. Feedback loops help you adapt to changing consumer behavior and preferences.
The art and science of decoding consumer behavior require a delicate balance of empathy, creativity, data analysis, and strategic thinking. By combining the emotional storytelling and brand identity with data-driven insights, segmentation, A/B testing, and predictive analytics, marketers can develop highly effective campaigns that resonate with their target audience. The insights gleaned from understanding consumer behavior not only drive business growth but also foster lasting relationships with customers. In today’s dynamic marketing landscape, the ability to decode consumer behavior is an invaluable skill that sets successful marketers apart.
Apollo Global Management, a private equity firm based in the United States, has made a deal to acquire The Restaurant Group (TRG), the parent company of Wagamama, for a total of £506 million ($620 million).
As a result of this deal, TRG will undergo a privatization process.
As reported by Reuters, this agreement has been reached after a prolonged effort by activist investors to bring about significant changes within the dining operator.
Apollo has been eyeing the acquisition of TRG for an extended period, driven by the private equity firm’s belief that TRG has solidified its presence in the casual dining sector through its diverse range of concepts and brands.
As part of this acquisition, Apollo has consented to remunerate TRG stakeholders with 65 pence per share in cash.
Going forward, Apollo has agreed to support TRG in further developing its business by investing in the customer offering and future growth of its footprint.
Leveraging its industry expertise, Apollo also plans to support TRG and its management team throughout the upcoming phase of growth for Wagamama, Pubs, and Concessions.
TRG chairman Ken Hanna said, “TRG operates a diverse portfolio of some of the UK’s leading hospitality brands.
“As a result of ongoing positive management actions and the margin accretion plan we announced in March this year, the group has recovered well from the challenges of the pandemic and the cost of living crisis.
“The TRG Board continues to have confidence in the plan, but is cognisant of the premium and the certain value of the Apollo offer against the backdrop of a challenging macro-economic environment.”
Last month, TRG reached an agreement with Big Table Group to sell its loss-making leisure arm, which includes restaurant brands such as Frankie & Benny’s and Chiquito.
India is considering moving sugar exports from the ‘restricted’ category to the ‘prohibited’ category for the entire 2023-24 (October-September) season. This decision stems from concerns about the adverse effects of the weakest monsoon in five years on sugarcane crops in the prominent producing states of Maharashtra and Karnataka, as conveyed by two government officials.
Currently, sugar mills have the option to request an export quota within the restricted category. However, transitioning to the prohibited category would entail a complete prohibition on sugar exports.
“Sugar output is expected to fall to 30 million tonnes (mt) in the 2023-24 sugar season against domestic consumption of 27.5-28 mt due to El Nino compromising monsoon rain in August,” one of the officials said. “However, El Niño is anticipated to strengthen through 2023-24, which could lead to intensification of dry conditions during the next sugar season. This may lead to a further decline in sugar production during the 2024-25 season,” the official added.
The El Nino weather phenomenon rendered August the driest month in over a century, with only 161.7 mm of rainfall, marking the lowest precipitation levels since 1901.
In the 2021-22 season, India, which had surpassed Brazil to become the world’s largest sugar producer and the second-largest exporter, imposed export controls in October of that year, implementing a mill-specific quota system. By the end of the 2022-23 crop year, local sugar mills had exported 6.2 million metric tons of sugar.
On June 2nd, it was reported that the food and public distribution department might not grant sugar mills unrestricted authority to export sugar, aiming to maintain domestic supply and price stability. Following this, on August 29th, there were reports that the government would reevaluate its sugar export policy, presently categorized as restricted. This review is scheduled for October, following the submission of crop estimates for the 2023-24 season by state cane commissioners.
As India approaches critical elections, the government has intensified export restrictions in an effort to stabilize domestic prices. In addition to sugar, India has also imposed restrictions on the export of wheat and rice.
During the 2022-23 season, India is projected to have generated approximately 32.7-32.8 million metric tons of sugar, with 4.3 million metric tons of the commodity diverted for ethanol production. The season is expected to conclude with 5.5-6 million metric tons in stocks.
“More diversion of sugar to ethanol production may lead to lower closing stocks. A slightly higher closing stock will help contain domestic retail prices of sugar and will be used as a buffer for the 2024-25 season,” the official said.
“The government does not want to take a risk as its priority is to ensure adequate supply for domestic consumption, keep domestic sugar prices in check, ethanol production and adequate closing stock at the end of the season,” the second official said.
At the time of the press deadline, inquiries directed to the representatives of the ministries responsible for commerce, agriculture, consumer affairs, and food and public distribution received no response.
As Durga Puja approaches, thoughts turn to the culinary haven of Kolkata, a city known for its gastronomic delights. What could be more delightful than celebrating this festive occasion in Delhi with the exquisite flavors of Bengal? Get ready for a culinary adventure as Chowman, Kolkata’s renowned Chinese restaurant, prepares to tantalize the taste buds of food enthusiasts.
Famous for its diverse selection of genuine Chinese dishes, diners have the opportunity to savor a variety of non-vegetarian treats, including dishes like Kolkata-style Chilli Chicken, Golden Fried Fish, Tangra-style Mixed Noodles, Prawn Pepper Salt, Konjee Crispy Lamb, Kolkata-style Chilli Pork, and many others.
Featuring a wide-ranging vegetarian menu, Chowman is set to dazzle food enthusiasts with delectable offerings like Four Treasured Mushrooms, Honey Chilli Lotus Stem, Chilli Tofu, Exotic Veg in Mountain Chilli Sauce, and other delightful options.
But that’s not all! You can enjoy exclusive discounts through the Chowman App. Receive a 15% discount when you dine in with Chowman Pay or save up to INR 250 on your delivery orders when using the app. So, whether you choose to visit Chowman or prefer the comfort of dining at home, make your Durga Puja celebrations truly grand by ordering exclusively through the Chowman App.
Where: Chowman, All Delhi-NCR Outlets (East of Kailash, Noida Sector-18, Indirapuram and Pitampura)
Discount- Dinein offer 15% off on paying via Chowman Pay Only
One week prior to Durga Puja, the cost of vegetables is once again steadily rising, with items such as cauliflower, eggplant, long beans, capsicum, and chili all surpassing the hundred-rupee mark, while others are edging closer to it.
Furthermore, trade insiders assert that there is no immediate relief in prospect. They argue that while the demand-supply disparity contributes to the price surge, retailers engaging in unreasonable profiteering are also culpable.
The heavy rainfall during the final phase of the monsoon has resulted in extensive flooding across the southern regions of Bengal. This has disrupted the vegetable production cycle in areas including Howrah, Hooghly, North and South 24 Parganas, East Burdwan, and West Midnapore.
As a result, there is a heightened reliance on Jharkhand, Assam, and Odisha for sourcing supplies. Additionally, substantial quantities of cabbage, cauliflower, beans, capsicum, drumsticks, and eggplants are being imported from Bengaluru and Pune.
Over the last ten days, the prices of all vegetables have surged significantly, with some witnessing a 40% rise, others a 70% increase, and a few even exceeding the 100% mark.
“We are buying fewer veggies and more potatoes to strike a balance,” said Roshni Pal, a marketing executive with a private company.
Amalendu Sarkar, a government school teacher, says he is cutting corners to keep monthly expenses in check. “Prices of all commodities are going up. With income remaining near-constant, we have no option but to cut corners. When even this does not help, the kitchen budget eats into emergency savings,” he said and urged greater monitoring of the retail market by government agencies.
Over the last ten days, vegetable prices in Kolkata have surged dramatically, putting pressure on household budgets. Trade insiders attribute this price hike to two main factors: the demand-supply imbalance caused by heavy rainfall in the final stages of the monsoon, leading to extensive flooding in southern Bengal, and retailers’ profiteering practices.
On the other hand, retailers contend that they are purchasing vegetables at elevated prices from wholesale markets, which necessitates selling them at higher rates. They insist that the root of the issue is the substantial rainfall, submerging vegetable fields and causing a decrease in production and a decline in quality.
But a closer scrutiny of retail prices vis-a-vis wholesale prices reveal a wider-than-usual gap. “There will always be a gap between wholesale and retail prices. But it is a cause of concern when this gap exceeds 20% even after taking into account the cost of transportation and the loss of 5% due to damaged vegetables. It is unfair and bad economics if a retailer earns much more than a farmer who produces the vegetables,” said Kamal De, president, Bengal Vendors’ and Farmers’ Association.
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