06 January 2023, Mumbai

Sales of e-commerce retailers in India during the month-long festival season in 2022 were almost double the pre-pandemic 2019 sales. So says Redseer Strategy Consultants.

Tier II and Tier III cities drove festive sales, and a significant portion of the sales came from electronic products and mobile phones.The country’s fragmented retail market of over 13 million general trade stores or the local kirana stores is expected to continue to drive retail for the next decade.

The eB2B market stood at $5 billion in 2021 and could touch $100 billion in gross merchandise value by 2030. Further, the internet market gained confidence, and many tech companies went public, raising funds through initial public offers. The drastic increase in digital consumption and increased digital penetration in Tier II plus cities are the primary growth drivers responsible for the spike in India’s digital advertising ecosystem.

With an increasingly high flow of consumers from Tier II plus cities adopting short video commerce, India is likely to witness a massive surge in digital advertising investments aimed at driving sales. During the last few days of December 2022 shopping centers across India experienced high footfalls and crowds even during weekdays.Brands added to the festive cheer with end of season sales.

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 03 January 2023, Mumbai

Indian retail will soon have a single window clearance to acquire all registrations, licences or clearances for trade.

There may be a single license for a retail store and a general category of license for selling over the counter items for retailers without the requirement of employing qualified professionals.The aim is improvement in the ease of doing business in the retail sector. One of the proposals is an accident insurance scheme for traders and traders’welfare boards at the national, state and district levels.

The policy is not intended for e-commerce, direct selling, multi-level marketing or street vendors and the aim is to provide a national common framework for the development of the retail sector across the country. As per the draft policy, efforts will be made to replace licenses with a simple registering process and pan-India acceptance of a license issued by one state will be encouraged. Wholesale distribution markets may be treated at par with industrial areas or parks.

India’s retail industry is projected to grow nine per cent through 2030. Retail accounts for over ten per cent of the country’s gross domestic product and around eight per cent of employment. India is the world’s fifth largest global destination in the retail space.

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 27 December 2022, Mumbai

Premium and luxury products in the jewellery, electronics and fashion segments have led to a rebound of footfall in malls. So says Icra.

During the April to September period this fiscal, trading values recovered to about 115 per cent of pre-Covid levels, backed by an increase in spend per footfall in these sectors. Mall footfall was around 85 per cent of pre-Covid levels. The trading density is expected to remain firm till March 2023 given the impact of the festive season.

Additionally, rental income has bounced back driven by a higher revenue share owing to an increase in retail trading density due to premiumisation. Rental income reached 123 per cent of pre-Covid levels in the first half of fiscal year 2023 and is expected to be around 125 per cent of that in the second half as well. Rental income is expected to increase five or six per cent year on year in fiscal year 2024.Vacancy levels increased marginally till September at 18 per cent from 16 per cent in the year ended March 31, 2022, with new supply of malls in the current year.

Food and grocery retailers are expected to close the current financial year with a 20 per cent growth.

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  05 January 2023, Mumbai

V-Mart Retail opened 15 new stores during the October-December quarter. The 15 new stores include two in Jharkhand, four in Rajasthan, five in Uttar Pradesh, one in Uttrakhand, one in Telangana, one in Madhya Pradesh and one in Tripura.

The company has been on an expansion spree and plans to open new stores with a focus on Tier II, III and IV cities in 2023. The value fashion retailer offers a wide selection of men’s, women’s, and children’s casual, ethnic, and occasion wear as well as accessories and lifestyle goods.

The company currently runs 414 stores across Tier II, III and IV cities. This winter V-Mart is seeing a good response for sweatshirts, pullovers and jackets. Once it gets colder,especially in the northern part of the country, the retailer expects more sales of heavy jackets, mufflers and caps.

V-Mart Retail’s revenue for the second quarter rose by 50 percent. Net loss narrowed to Rs 11 crores. In all six new Unlimited stores were opened in South India this year and they have been delivering higher sales productivity as compared to the legacy Unlimited stores.

Limeroad was acquired by V Mart earlier, is the primary omni e-commerce vehicle for V-Mart’s online presence. Limeroad is an online fashion marketplace.

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 29 December 2022, Mumbai

Victoria’s Secret’s store in New Delhi is the brand’s biggest and first full assortment store in north India.

This is Victoria’s Secret’s first store in New Delhi and the brand’s biggest store in India. The Victoria’s Secret store, spread across a whooping 5500 sqft, is the luxury lingerie, beauty and loungewear brand’s biggest store in India, flaunting the brand’s latest concept of spacious, bright and aspirational stores, aptly called the store of the future.

Store of the future features streamlined navigation to effortlessly guide customers throughout the space, a modern fitting-room, as well as a welcoming and seamless shopping experience. The store has a wide assortment of modern, fashion-inspired collections including signature lingerie, casual sleepwear, athleisure and accessories, as well as fragrances and body care.Designed to offer a modern and effortless shopping experience, the store offers some enticing features including one-on-one complimentary fitting appointments with specially trained experts and a dedicated fragrance section.

The American luxury intimate wear mogul has a whole section of Pink merchandise at the store. The store joins more than 1,350 Victoria’s Secret stores worldwide. The world’s largest intimate specialty retailer has entered the Indian market keeping in mind the needs and sizes of Indian women.

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 26 December 2022, Mumbai

India’s retail industry saw a 19 per cent rise in sales over pre-pandemic levels during the April 2022 to November 2022 period. So says the Retailers Association of India.

The eastern part clocked the highest growth at 21 per cent as compared to the same period in 2019. North India followed with a 19 per cent growth while both the western and the southern parts witnessed an 18 per cent rise.

Industries that did particularly well during this period were the quick service restaurant and the footwear industries, with a 30 per cent growth compared to 2019. The beauty, wellness and personal care industry saw a seven per cent growth as against the same period in 2019.

Consumers are back to shopping in storeseven as they continue to buy online. The last two years witnessed dramatic changes in the Indian retail industry and adoption of technology by offline retailers saw a quantum jump.

For 2023 retail in India is expected to grow better than all other key markets across the world. Omnichannel retail has become the norm for retailers. Concepts like Open Network for Digital Commerce will enable millions of small retailers to participate in digital commerce.However, the coronavirus worry still looms large in other countries and inflation creates headwinds for retail.

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 04 January 2023, Mumbai

During the last few days of December 2022 shopping centers across India experienced high footfalls and crowds even during weekdays.

Brands added to the festive cheer with end of season sales. From 20 per cent to 60 per cent off to half-price sales and buy one get onefree, brands across the country began offering great discounts to customers. Retailers advanced the annual mega sales season by almost two weeks this year. Generally, sales are conducted in the first or second week of January.With the winter season and winterwear sale coinciding this year, winter apparel and accessories are literally flying off the shelves with many retailers, thanks to the huge discounts on them.

Fashion brands like Nautica, American Eagle, The Body Shop, Ritu Kumar, Marks & Spencer, Vero Moda, Guess, Mango, Iconic, Massimo Dutti, Charles and Keith, H&M, Rosso Brunello, Forever New, Hidesign, Rareism, Lacoste and Beverly Hills Polo Club are offering up to 50 per cent off to customers. Brands like Bath and Body Works, Aldo, Aldo Accessories and Global Desi Girl are going all out this season by offering a flat 50 per cent off on everything in the store.With the offers continuing into the new year, brands and shopping centers alike are hoping that the shopping frenzy goes on.

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 28 December 2022, Mumbai

Ikea plans to invest approximately Rs 4,000 crores on operations in Uttar Pradesh.

Uttar Pradesh is the most populated state in India and has over 200 million inhabitants. The area thus represents a large retail opportunity for Ikea to further establish itself in the Indian market.

Ikea specialises in home furnishings, home textiles, home décor, and accessories and currently operates brick-and-mortar stores in Indian cities including Mumbai, Navi Mumbai, Hyderabad, Bangalore, New Delhi, and Gurgaon. Globally, the business runs over 458 stores in 62 different markets and is also known for its selection of Swedish foods.

Ikea’s sales in India went up by 77 per cent in fiscal 2022. Total income went up by 73 per cent. Total operating expenditure, excluding interest, depreciation and amortization, was up 45 per cent. The company’s expansion plan and operations were impacted due to the global pandemic. However the home furnishing retailer not only managed its operations in an effective way but also extended its support to society through its various partners for helping needy people and for minimising the spread of the pandemic. The company also ensured the safety of its co-workers while managing its operations.

During fiscal year 2022, Ikea continued to work on its plans towards positioning, growth and profitability of the omni-channel business in India.

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 26 December 2022, Mumbai

Vishal Mart has launched party wear blazers and suits for in men. This has been done in view of the marriage season.

The range of blazers starts from Rs 2500 to Rs 3500 while the range of men’s suits starts from Rs 3000 to Rs 6000 which are available in premium quality. Besides this a range of sweatshirts, shirts and other accessories for men is available at Vishal Mart with an unmatched quality and at unbelievable prices. The retailer makes efforts to bring the best possible products from all parts of the country and abroad for serving consumers and patrons. There is also a wide range of tiffinboxes, sippers, water bottles, toasters, electronic items, garments and many more. Vishal Mart caters to men, women and children.

Vishal Mart is India’s leading fashion led hypermarket with 400 plus stores spread across India. Vishal’s mission is to provide shoppers with a wide range of the latest fashion, general merchandise and grocery needs. The belief that customer satisfaction is as important as its products and services has helped this establishment garner a vast base of customers, which continues to grow by the day.

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 03 January 2023, Mumbai

Max has opened a store in Thane. The store is 10,000 sq ft. Customers can expect a world-class shopping environment stocking the latest in international fashion from around the globe, as well as Max’s own label of in-house designs in carefully chosen color palettes. Shoppers can enjoy great prices on an excellent range of over 3,000 styles every season, in brand-new designs, silhouettes, and fabrics.

Max, a leading brand in value fashion, is currently attracting major attention from customers this holiday season. Max commenced its store trading with a flat 50 per cent off which is uncommon at the time of new store launches. Max is currently offering customers attractive discounts of up to 50 per cent off on a wide variety of choices in order to fulfill their desire of upgrading their wardrobe and embracing the new year in style.

Max, an Indian fashion label owned by Landmark, offers apparel, footwear, and accessories for the entire family.Max Fashion has innovative, forward-looking business strategies to mark its dominance in the value fashion market.Max retails out its own private label merchandise which is created by a team of in-house designers who are exposed to international fashion trends and excel in tailoring the styles to suit Indian sensibilities.

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 28 December 2022, Mumbai

Forever 21 has opened a store in Mizoram. The store is spread across an area of 3,110 sqft and houses the latest collections from the brand that includes winter wear, fitted dresses, bodysuits, super crops, co-ords, jackets, accessories, and footwear, among others. This is the brand’s first store in Mizoram and with this Forever 21 has four stores in the northeast.

Forever 21 is an American fashion brand run in India with a license with Aditya Birla Fashion and Retail. In July 2016, Aditya Birla Fashion and Retail acquired exclusive online and offline rights to the India network of Forever 21.Forever 21 brings the newest runway and catwalk trends to young fashionistas and takes pride in offering the highest quality comfort clothing.

Founded in 1984, Forever 21 operates more than 550 stores in 27 countries around the world. The brand has over 20 stores in India and sells online on all leading e-commerce platforms.Forever 21 operates by bringing in new merchandise daily to keep the store exciting.

Forever 21 offers clothing and accessories for women, men and children. In the US Forever 21 has shifted its focus to rebuilding its presence while turning to collaborations, influencers and a better-curated assortment to drum up excitement for its brand once again.

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 26 December 2022, Mumbai

Fast fashion retailer brand Forever 21 has opened a store in Chennai. This is the brand’s second store in Chennai.

Forever 21 offers clothing and accessories for women, men and children. Forever 21 operates by bringing in new merchandise daily to keep the store exciting. The American fast fashion retailer is known for its cheap and trendy apparel and accessories. In the US Forever 21 has shifted its focus to rebuilding its presence while turning to collaborations, influencers and a better-curated assortment to drum up excitement for its brand once again.

The brand was founded in 1984 and has more than 550 stores in 27 countries across the globe.

Aditya Birla Fashion and Retail runs Forever 21 in India as a franchise operation. In July 2016, Aditya Birla Fashion and Retail acquired exclusive online and offline rights to the India network of Forever 21. The brand reaches out to 300 towns and cities in the country.

Aditya Birla Fashion and Retail hosts product lines that range from affordable and mass market to luxurious, high-end styles and cater to every age group, from children and youth to men and women. Over the years, the company has brought various global brands like Simon Carter and Ted Baker to the Indian retail market.

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