On Friday, magicpin, the hyperlocal e-commerce startup, announced its partnership with NCCF and launched the sale of tomatoes at INR 70 per kilogram. These tomatoes are available through specific online platforms that are registered on the government-backed ONDC.
According to a statement by magicpin, consumers in Delhi-NCR and a few other select cities can now order tomatoes through various platforms, including the magicpin app, Paytm, PhonePe’s Pincode, and Mystore.
“We have witnessed an overwhelming response, delivering 1,000 orders across over 90 pincodes in Delhi-NCR in just 2 days. NCCF and ONDC’s initiative aims to stand with the consumers during challenging times,” magicpin CEO and Co-Founder Anshoo Sharma said.
In order to meet the demands of a wider consumer audience, magicpin is providing a maximum purchase limit of 2 kilograms of tomatoes per user per week, priced at INR 140. The company will ensure doorstep delivery of these tomatoes to the consumers.
“On behalf of the central government, cooperatives NCCF and NAFED are already selling tomatoes at INR 70 per kg to retail consumers through mobile vans in Delhi-NCR and a few select cities,” the statement said.
The Delhi High Court imposed a fine of INR 2 lakh on two restaurant associations for their failure to fully disclose the list of members who impose a mandatory service charge and those who do it voluntarily. One of the associations, FHRAI, has already paid the INR 1 lakh fine to the department of consumer affairs on Thursday.
Justice Prathiba M Singh, in her order on Monday, directed that the costs should be paid to the department of consumer affairs.
The High Court was addressing a plea submitted by the associations – Federation of Hotel and Restaurant Associations of India (FHRAI) and National Restaurant Association of India (NRAI). The plea challenged the guidelines issued by the Central Consumer Protection Authority (CCPA), which forbade hotels and restaurants from automatically imposing service charges on food bills.
Back in April, the High Court had issued an order to the two associations, instructing them to reveal a comprehensive list of their members to support the petitions. Additionally, they were asked to specify the percentage of their members who enforced a mandatory service charge and those who opted for a voluntary contribution approach. The court also inquired if the associations objected to replacing the term ‘service charge’ with an alternative expression like ‘staff welfare fund.’ The purpose of this change was to avoid confusion among consumers that the charge was not imposed by the government.
Justice Singh, in the order issued on July 24, noted that the petitioners had shown “complete non-compliance” with the given directions. The court pointed out that the affidavits were filed without properly serving the Centre, seemingly attempting to hinder the progress of the hearing. The court stated that the petitioners had various obligations to fulfill, and none of them had filed the affidavits as per the specified order. Despite this, the court granted one final opportunity to the associations to submit the affidavits correctly.
Union consumer affairs secretary Rohit Kumar Singh, said, “The cost imposed by the Delhi HC has been paid by the association today (Thursday) which has been deposited in the Consumer Welfare Fund (CWF). We expect all the restaurants to stop levying service charges with immediate effect.”
As per the consumer affairs department, the National Consumer Helpline has recorded over 4,000 complaints since the CCPA issued guidelines on service charge in July 2022. Consumers have lodged grievances regarding being compelled to pay service charges even when they are dissatisfied with the service provided. Additionally, there have been complaints about restaurants collecting service charges under misleading names, such as ‘S/C,’ ‘SC,’ ‘SCR,’ or ‘S CHARGE.’
As part of a restructuring plan in the US, Amazon is implementing job cuts within its Fresh Grocery stores.
On Thursday, the company confirmed that it is eliminating zone lead roles, which are lower-level management positions in its grocery stores. These roles are responsible for overseeing associates and handling customer issues, among other responsibilities.
Amazon did not disclose the exact number of employees who would be affected by the job cuts. However, The Washington Post reported on Wednesday that hundreds of Fresh employees are expected to be let go as a result of the restructuring.
“Like any retailer, we periodically assess our stores organizational needs and make decisions to increase efficiencies for our employees and deliver customer value,” Amazon spokesperson Jessica Martin said in a prepared statement. “As a result, we’ve decided to evolve our in-store staffing and operations model to better serve our customers and teams.”
The retailer announced that it will collaborate with the impacted employees to assist them in finding new roles within the company. Additionally, employees who choose to leave Amazon will receive severance benefits.
Amazon runs 44 Fresh grocery stores throughout the nation, with the majority situated in California, Illinois, Virginia, and Washington state. Additionally, the company manages over 20 cashier-free convenience stores under the Amazon Go brand. Furthermore, Amazon is the owner of Whole Foods, a supermarket chain it acquired in 2017 for a significant sum of $13.7 billion.
In light of increased economic concerns over the past year, the company has been actively working to control costs across all aspects of its operations, including the grocery sector.
At the beginning of this year, Amazon announced its intentions to close certain Amazon Fresh and Go stores as part of a routine evaluation of its grocery portfolio. Subsequently, in April, Whole Foods implemented a restructuring plan, resulting in the reduction of several hundred jobs.
According to Amazon CEO Andy Jassy, groceries present a significant growth opportunity for the company. However, he also emphasized the need to identify a mass grocery format that suits the company’s objectives and requirements.
The recent job reductions at the grocery chain add to the series of layoffs at Amazon, impacting approximately 27,000 employees within the past year.
Brands frequently unveil captivating deals to entice customers and cultivate loyalty. Recently, Bangaluru’s Corner House Ice Creams launched an offer that has not only captivated customers but also garnered widespread attention from netizens.
Earlier this month, in celebration of ‘Ice Cream Day,’ an annual event observed on the third Sunday of July, the renowned ice cream company, Corner House Ice Creams, decided to offer complimentary scoops of ice cream to customers who danced their way from the storefront to the shop’s counter. This delightful promotion took place at the Indiranagar branch in Bengaluru.
Those customers who enthusiastically embraced the offer and danced their way for the free ice cream were caught on the establishment’s CCTV camera. On Wednesday, the ice cream brand delightedly shared a playful compilation of these dancing customers on their official Instagram account.
So far, this video has amassed over one lakh likes.
Commenting on it, an Instagram user wrote, “Irrespective of the free ice cream which is one of the best undoubtedly. The amount of happiness, positivity and smile this video brings is priceless. Lots of love team @cornerhouseicecreams”.
In the comments, people also shared their pleasant memories associated with the local brand, which has been around since 1982.
“I rem dropping my ice cream by mistake right after buying it and the person gave me a new one for free! Dint expect it but def made me happy like a child! Right from my college days to my 11yr old relishing ice creams, corner house has made so many memories memorable! Way to go @cornerhouseicecreams,” an Instagram user wrote.
Snoop Dogg, the renowned American rapper, has teamed up with Happi Co, a consumer packaged goods company, to introduce a delightful range of ice cream pints.
Dr. Bombay ice cream offers a delectable assortment of seven flavors: Bonus Track Brownie, Cocoa Cream Cookie Dream, Iced Out Orange Cream, Rollin’ In the Dough, S’more Vibes, Syrupy Waffle Sundaze, and Tropical Sherbet Swizzle.
Under the parent company Bosslady Foods, the newly introduced ice cream brand is proudly recognized as their inaugural product line.
Happi Co’s CEO, Sam Rockwell, said, “As a company, we’re always looking to develop products and partner with personalities and brands that embody authenticity. When Snoop approached us with the idea of starting a new company with a focus on frozen treats, it became obvious that we share core values, which is a key ingredient for a strong partnership.”
“As a fast and nimble CPG company, we have been working side by side with Snoop to create Dr. Bombay Ice Cream as true partners, using our experience in the frozen space to execute his vision. Snoop & Happi Co share core values and brand vision, and the products we’re creating fit perfectly within our expertise – it’s a recipe for success,” he added.
Dr. Bombay ice cream is available at Walmart stores nationwide.
Nestle India, a leading fast-moving consumer goods (FMCG) company, announced its financial results for the quarter ended June 2023. The company’s net profit for this quarter reached INR 698.34 crore, marking an impressive 37% increase compared to the INR 510.24 crore reported in the same quarter of the previous fiscal year.
During the mentioned quarter, total sales experienced a significant 15% year-on-year (YoY) increase, reaching INR 4,619.5 crore. Moreover, domestic sales for the period between April and June exhibited a strong growth rate of 14.6%.
According to the company’s filing with the exchanges, the profit from operations accounted for 20.7% of sales in the quarter that ended in June.
As per Nestle’s filing, the company, which operates on a January-December financial year, disclosed that its e-commerce vertical contributed 6.5% to its quarterly sales. This growth was sustained, driven by the momentum of quick commerce.
According to the company filing, the organized trade channel maintained its robust and broad-based growth across various categories. This growth was attributed to store expansion and increased footfalls. Additionally, the Out-of-Home (OOH) segment experienced strong growth by focusing on premiumization and implementing portfolio transformation initiatives.
The company reported that its Q2 exports demonstrated double-digit growth across all categories, driven by the increasing popularity of products like NESCAFÉ Sunrise and Polo.
“Strong performance is an outcome of kiosk expansion and prioritisation of emerging channels,” the company filing said.
Commenting on the earnings, the company’s Chairman and Managing Suresh Narayanan said that this was the fifth quarter in a row of double-digit growth across all product groups. “I am pleased to share that we have, yet again, delivered robust performance, with all product groups registering double-digit growth. Domestic sales growth is broad-based and grew by 14.6%, on the back of prudent pricing and supported by mix and volume with targeted brand support,” Narayanan said.
Key brands continued to perform well, led by Kitkat, Nescafe and Maggi, the MD highlighted.
Company’s expenses grew by 11% YoY to INR 3,743.15 crore in the June quarter from INR 3,369.81 crore with cost of material reported at INR 1,977.46 crore verus INR 1,847.42 crore in the year-ago period. However, benign commodity price in the reported quarter resulted in a 9% sequential drop in the cost of material consumed by the company.
Commodities such as edible oils, wheat and packaging materials have been in the lower price range. A reversal of price trend is noted in fuels with prices softening in second quarter after reaching higher level towards the end of quarter one. In fresh milk, there has been price stability. Robusta prices are elevated and are expected to remain volatile.
Parle, the beloved biscuit brand owned by Parle Products, has once again reaffirmed its status as India’s top FMCG brand. According to the latest edition of Brand Footprint, an annual ranking by Kantar Worldpanel, Parle continues to be the most favored choice among Indian consumers. Even more noteworthy is the trend of homegrown companies taking the lead, with an impressive seven out of the top 10 brands proudly representing India’s entrepreneurial prowess.
The Brand Footprint study employs a comprehensive ranking system based on consumer reach points (CRPs), a metric that considers both a brand’s penetration (number of households buying the brand) and frequency of purchase. Among the nearly 400 brands evaluated, Parle has consistently dominated the charts since the inception of the brand footprint eleven years ago, amassing an impressive 7449 million CRPs. Following closely behind is Britannia, a renowned dairy brand, with a substantial CRP of 6691 million. Both Parle and Britannia experienced remarkable growth, with a 9% and 16% increase, respectively.
Intriguingly, breaking the food-dominated top five brands is Hindustan Unilever’s shampoo brand Clinic Plus, the sole non-food exception. These brands’ consistent performance underscores their strong resonance with Indian consumers and their ability to secure significant market presence in terms of both household reach and purchase frequency.
“Consumer choice is the ultimate strength test for a brand. Over the years, consumers are making increasing trips for purchase and that adds their options and in turn their choice. This is reflected in the constant increase in CRPS we observe,” said K Ramakrishnan, Managing Director- South Asia, Worldpanel Division at Kantar.
In the fiscal year 2022, Parle Products, known for its popular brands like Parle G, Monaco, and Melody, achieved a significant milestone by surpassing $2 billion in annual revenues. This remarkable accomplishment not only solidifies its position as a leading packaged food company in India but also marks the first time any such company in the country has achieved this impressive feat.
Additionally, the report examined out-of-home consumption patterns, revealing that all of the top five brands in this category belong to snacking products. Leading the rankings is Britannia, boasting 498 million CRPs (consumer reach points), closely trailed by Haldiram’s, Cadbury, Balaji, and Parle, showcasing their widespread popularity among consumers on the go.
“As purchases for out of home consumption are on the rise and seem to have different choice triggers, we found it necessary to introduce a ranking specifically for these categories, where there is a significant out of home component,” added Ramakrishnan.
During the last fiscal year, Indian consumers made approximately 152 shopping trips to grocery stores, marking a record high. However, despite the increased store visits, the amount of their purchases has decreased. Particularly, consumers with lower incomes are now making purchases once every 52 hours, or nearly once every two days, as the impact of rising inflation prompts them to tighten their expenses.
In response to these economic challenges, most companies have opted to implement an alternative strategy instead of direct price hikes. They have reduced the sizes of their product packs, with the average pack now being 20% smaller compared to two years ago. This approach allows companies to mitigate the effects of inflation while still offering their products at accessible price points for consumers.
Over the last two quarters, the majority of companies have taken measures to address inflationary pressures. They have implemented price reductions, increased product grammages, and intensified their advertising expenditures. These efforts have been undertaken as inflationary pressures have started to ease. As a result of these strategies, companies are optimistic about a rebound in volume growth in the coming periods.
“Where required, we did lean in with price reduction, with more amount of grammage to be filled back, and we will see the impact of these changes in consumer behavior and volumes in times to come,” Ritesh Tiwari, Chief Financial Officer at Hindustan Unilever told investors.
In a recent media release on Thursday, Emami Agrotech, the edible oil and food-manufacturing division of the Emami Group, announced that it has consistently lowered the Maximum Retail Price (MRP) of its popular edible oil brands, Emami Healthy & Tasty and Himani Best Choice, by 35-40% over a span of 12 months since July 2022. This move comes as a result of the drop in global oil prices, and the company is delighted to pass on these benefits to its valued consumers.
The company diligently tracks the fluctuations in Maximum Retail Price (MRP) for its popular 1-litre pouch consumer packs, which includes the variants of mustard, soybean, rice bran, and sunflower under the Emami Healthy & Tasty brand, as well as the soybean and palmolein variants under the Himani Best Choice brand.
Commenting on this, Mr. Sudhakar Desai, CEO, Emami Agrotech said, “India imports about 56% of its annual edible oil consumption of 24-25 Million Tonne (MT). Over the last 12 months, there has been a significant drop in global prices. In view of this correction in commodity prices, as a responsible corporate, we have been cutting our prices consistently for all our oils like soyabean, palm oil, and sunflower. Over the last year, the drop in MRP has been in the range of 35-40% which brought the much-needed relief to the consumers.”
“In the domestic front, the Indian mustard crop output has increased by about 10% which again helped to stabilise the prices of the popular Mustard oil which was selling at a peak price-to-consumer of INR 200 per litre and is currently down to about INR 130 – 140 / litre. With the international prices of imported edible oils continuing to show a downward trend, consumption is likely to go up further in the next few months, especially during the upcoming festivals in the months of September and October.” Desai added.
Throughout 2021-22, the prices of edible oil experienced a continuous rise, influenced by various geopolitical factors such as the Indonesian ban on oil exports and supply chain disruptions due to the Ukraine war. Additionally, higher input and logistic costs contributed to this upward trend. However, starting from mid-June 2022, the international market has witnessed a decline in edible oil prices.
Responding to this situation, the Central government has consistently implemented measures to regulate the consumer prices of edible oil. One significant step taken was the reduction of import duties from over 40% to the current duty rate of 5.5%. Alongside this, the government has also implemented other measures, including stock controls, aimed at stabilizing the edible oil market and ensuring affordability for consumers.
On Thursday, the Indian Hotels Company Ltd, a hospitality firm under the Tata group, announced a notable 30.5 per cent increase in their consolidated net profit for the first quarter, which ended on June 30, 2023. This impressive growth was primarily fueled by robust revenue performance. The company’s net profit amounted to INR 236.01 crore during this period.
The company had posted a consolidated net profit of INR 180.84 crore in the same quarter last fiscal, Indian Hotels Company Ltd (IHCL) said in a regulatory filing.
Consolidated revenue from operations were at INR 1,466.37 crore during the quarter under review as compared to INR 1,266.07 crore in the year-ago period, it added.
Total expenses were higher at INR 1,221.76 crore as compared to INR 1,053.12 crore a year ago, the company said.
IHCL Managing Director & CEO Puneet Chhatwal said the company ended the first quarter with a strong performance led by a double-digit revenue growth.
“Maintaining our industry leading portfolio, IHCL signed 11 (hotels) and opened 5 new hotels across all its brands. With our vast footprint across over 125 locations, we will leverage the buoyancy in India’s travel and tourism sector,” he added.
The outlook for the upcoming quarters remains strong with the pace of demand driven by domestic consumption momentum, global events, and revival of international arrivals, Chhatwal said.
Giving an update on its new businesses, IHCL said Ginger hotels revenue clocked INR 100 crore milestone during the quarter, while the air catering business TajSATS clocked a 55 per cent growth in revenue at INR 205 crore.
Qmin has grown to 40 outlets and am Stays & Trails portfolio crossed over 125 bungalows across more than 50 holiday destinations, the company said.
Akshayakalpa Organic has achieved a remarkable feat in the Indian dairy industry. Over the course of 13 years, the company has been dedicated to offering pure and nourishing dairy products. Now, they are embarking on a new chapter, extending their market presence to 42 cities across Karnataka, Tamil Nadu, Telangana, Andhra Pradesh, Maharashtra, and Kerala. The introduction of their latest product, the Ultra High Temperature (UHT) milk pack, marks a significant milestone in their expansion journey. With this innovation, Akshayakalpa aims to bring their high-quality dairy to even more households in the region.
The expansion demonstrates the evolving consumer trends, where more and more people are opting for organic dairy products and seeking healthier and nourishing food options. Responding to this rising demand, the introduction of the new UHT pack by Akshayakalpa is a testament to their dedication to meeting customer needs. This innovative product combines the advantages of organic goodness with a steadfast commitment to providing consumers with the finest quality milk available in the market.
From its establishment in 2010, Akshayakalpa has led the way in promoting sustainable farm practices. Their unwavering commitment ensures that all their milk and milk products remain completely free from antibiotics, synthetic additives, and chemical pesticide residues. A key aspect of their approach is sourcing all products from content and healthy cows that reside in organic farms and are nourished with organic diets. This dedication to providing pure and wholesome dairy exemplifies Akshayakalpa’s pioneering efforts in the industry.
Shashi Kumar, CEO, and Co-Founder of Akshayakalpa Organic said, “We are on a grassroots movement to provide consumers with the right and nutritious food choices. With this launch, we aim to reach a wider audience in 42 new cities and introduce them to the goodness of organic dairy. Our UHT pack is a milestone in making organic milk accessible to consumers across major cities while preserving its natural integrity. At Akshayakalpa, we believe in the power of organic farming for the well-being of consumers, farmers, and the planet.”
With the introduction of the UHT milk pack, consumers can now relish the incredible health advantages of organic milk without sacrificing convenience. This wholesome milk is sourced from content and healthy cows, residing in stress-free environments and feasting on nutritious fodder cultivated in chemical-free soil, thus yielding pure and organic milk. Akshayakalpa Organic milk is entirely free from antibiotics, induced hormones, and chemical residues, ensuring the preservation of the natural nutrition that organic milk offers. Emphasizing both health and convenience, Akshayakalpa continues to deliver excellence in their organic dairy offerings.
Driven by a dedication to innovation and a desire to strengthen its position in the organic dairy industry, Akshayakalpa is embarking on exciting new ventures in both markets and product categories. Now, residents of cities such as Kochi, Coimbatore, Mysore, Bangalore, Chennai, Hyderabad, and others can readily access Akshayakalpa’s UHT milk packs at their nearby retail outlets. This expansion brings the goodness of pure organic dairy to consumers in these regions, promising an unparalleled experience like never before. Akshayakalpa’s commitment to excellence continues to flourish as they explore new horizons in the organic dairy market.
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