FMCG sales at organized retail stores grew 22% in 2018: Nielsen India report

SUNEERA TANDON | March 12, 2019

article image
The switch to goods and services tax (GST), acceptance of digital payments, and a consumer shift to convenience have helped push the sale of cheese, biscuits, hair conditioners, and packaged rice in modern retail stores in India for the year ended 31 August 2018. This has helped the country’s organized grocery stores register a strong 22% growth in sales, according to a report titled Reformatting Retail in India by insights firm Nielsen India released in March.The market for fast-moving consumer goods (FMCG) sold through modern retail stores in India stood at ₹41,416 crore as of August 2018, Nielsen said.The report measured the growth of such stores from August 2017 to August 2018, factoring in the impact of events such as demonetisation and the transition to GST in 2017.

Spotlight

Sterling Jewelers

Akron, Ohio-based Sterling Jewelers is one of the U.S. operations of Signet Jewelers, making it part of the largest specialty retail jewelry company in the world. Signet is the largest specialty retail jeweler in the US, UK and Canada. Signet’s results derive from the retailing of jewelry, watches and associated services. The business is managed as three operating divisions: the Sterling division in the US, the Signet UK division, and the Zale division, which operates in the US and Canada.

OTHER ARTICLES

How AI is changing the face of modern web design for retailers

Article | April 15, 2020

Consumers take just 50 milliseconds to decide whether your website is worth staying on. It's therefore important for websites to be of high-quality in order to make sales. For online retailers, items need to be presented in an enticing way that convinces customers to buy. Web design plays an important role in this. While a website needs to appeal aesthetically, it also needs to provide a simple user experience from landing on the page through to purchase.

Read More

How AI Can Help Traditional Retailers Compete Against D2C

Article | April 15, 2020

Global annual spending on artificial intelligence (AI) by retailers is expected to surpass $7.3 billion by 2022, according to Juniper Research, and IBM estimates that 79% will implement AI for customer intelligence and 75% for marketing, advertising and campaign management. Traditional retailers are hoping to reap the benefits of employing AI in these areas, but with the growth of direct to consumer (D2C) retailers – 40% of U.S. internet users expect D2C retailers to account for nearly half of their purchases within the next five years – traditional retailers must find efficient ways to catch up.

Read More

Retail supply chains will be held liable for price gouging

Article | April 15, 2020

Texas Attorney General Ken Paxton today issued a stern warning to retail suppliers, including those who supply grocery stores and pharmacies, that state law strictly prohibits price gouging in the wake of a declared disaster. Price gouging laws apply to any person or entity selling necessities at an exorbitant or excessive price after a disaster has been declared by the Governor or President. This prohibition includes those who supply retailers. Under the Texas Deceptive Trade Practices Act, any price-gougers may be required to reimburse consumers and may be held liable for civil penalties of up to $10,000 per violation with an additional penalty of up to $250,000 if the affected consumers are elderly.

Read More

Retail's secret weapon: Order fulfillment optimization

Article | April 15, 2020

The start of a new year is the perfect time to reflect on the past and prepare for the future. While holiday 2019 was another record year for retail sales, brands faced some serious challenges when it came to a shortened shopping window and the ever-growing consumer expectations around timely, accurate, and convenient deliveries (and returns). Some may believe these woes to be behind us now that the holidays are over, but the potential for spikes in product demands remains throughout 2020 leading into next year's holiday season. And if history has shown us anything, it's that now is the time for retailers to implement the right processes and technologies that ensure seamless and positive customer experiences, or risk ongoing negative impacts to the bottom line.

Read More

Spotlight

Sterling Jewelers

Akron, Ohio-based Sterling Jewelers is one of the U.S. operations of Signet Jewelers, making it part of the largest specialty retail jewelry company in the world. Signet is the largest specialty retail jeweler in the US, UK and Canada. Signet’s results derive from the retailing of jewelry, watches and associated services. The business is managed as three operating divisions: the Sterling division in the US, the Signet UK division, and the Zale division, which operates in the US and Canada.

Events