Category — Consumer Goods

iPhone X Scores Big in India

This is the first time that Apple‘s global launch of a new iPhone included a concurrent launch in India.  From taking a horse carriage procession (or baraat that’s seen at Indian weddings) to purchase the new iPhone X to waiting hours in line before retail stores can open, Apple’s most expensive iPhone had fans in India vying to buy it. In less than a week of its November 3 launch, the iPhone X was “out of stock” at online sites and offline stores.

Several Apple fans came and went empty-handed; some authorized resellers and corporate partners were also disappointed at the limited stock handed to them, reports the Economic Times Retail. Faisal Kawoosa, principal analyst, Telecom and ESDM, CyberMedia Research suggests that the situation for Apple will take time to settle down. “Although there are initial supply issues, the situation for Apple will gradually come to normal as they strengthen the supply chain. They need to do it fast,” he added.

iPhone X

Anshul Gupta, research director, Gartner India said, “Despite the high price of the iPhone X, it will remain a growth driver for iPhone sales and its delayed launch means some of the fourth quarter of 2017 demand will shift to 2018. The immediate availability of the iPhone in line with other global markets shows the growth opportunity and overall importance of the Indian market.”

 

November 7, 2017   No Comments

Cargill to Invest Additional $240 Million in India

Minnesota-based Cargill said it will invest $240 million in India over the next five years in its business of edible oil, cocoa and chocolates, starches and sweeteners, and animal nutrition. This announcement was made at the World Food India Conference held in Delhi in early November by Cargill Asia Pacific CEO  Peter Van Deursen, at a MoU signing ceremony in the presence of Harsimrat Kaur Badal, India’s minister for Food Processing.

Cargill Logo

Van Deursen said, “India is an important market for us and this increased investment demonstrates our commitment to the country and the development of its agriculture and food processing industry,” reports BusinessLine.

The company employs more than 3,500 employees in India. Last year, Cargill inaugurated its first wet corn milling plant in India, set up with an investment of $100 million. The company also inaugurated a new dairy feed mill in Bathinda, Punjab, and its largest business services center in Bangalore.

November 7, 2017   No Comments

India is Fastest Growing Market for Hershey

For Pennsylvania-headquartered The Hershey Company, India has emerged as the fastest growing market in Q3 when Hershey India recorded a strong double digit constant currency net sales growth of 16 percent, overtaking Brazil and Mexico, and exceeding the company’s plans.

The Times of India reports that outside of North America, India is one of only four focus markets for Hersheys, the other 3 being China, Brazil and Mexic0. CFO Patricia A. Little said, “Our transition of the India portfolio is enabling a higher margin business, and we are on track to expand gross margins here by 1,000 basis points in 2017.”

Hershey's Chocolates

“We anticipate an investment of about $50 million during the next five years as we focus on growing and expanding our presence in India. India is one of our key International focus markets and we are investing to build this important business,” chairman and managing director, Hershey India, Praveen Jakate said. “This is enabling adjustments in the local marketplace that should result in a sustainable operating model,” he added.

 

 

 

November 3, 2017   No Comments

Walmart Ups the Ante in India

 Arkansas-headquartered Walmart is planning a threefold increase in the pace of opening stores by 2020 in India. It plans to open 50 new stores by 2022 to take the total store count to 70.

“We are opening five to seven stores next year. Eventually, we want to open 15 a year, which should happen from 2020,” president and chief executive Krish Iyer said. The firm spends around $12 million per store for an average size of 55,000 square feet, and it has signed up for 19 sites so far.  Iyer added that Walmart considered India as a priority market in terms of providing resources to build capacities, back-end infrastructure, and implementing technology.

Walmart inaugurated one of its first global fulfilment centers or ‘dark store’ in India, in an effort to speed up operations in the country. The 45,000 square feet center at Bhiwandi near Mumbai will cater to the business needs of resellers, mom-and-pop grocery stores, offices and institutions through online orders mostly stock packaged consumer products and home supplies.

Walmart best price store in India

Walmart’s  Best Price store in India

 

November 2, 2017   No Comments

WhatsApp Partners with eTailers in India

With a 200 million plus user base that communicates in 10 Indian languages to generate 50 billion messages a day, Facebook-owned WhatsApp is turning toward businesses in India to monetize the platform. It has already partnered with travel portals  MakeMyTrip and Goibibo, and is now planning to add Flipkart, utility agencies, movie houses, and telecom players too. Users will be able to access the services offered and make payments on WhatsApp itself via a new WhatsApp wallet.

WhatsApp Logo

In February this year, WhatsApp co-founder, Brian Acton, met India’s minister for Information Technology Ravi Shankar Prasad to discuss ways the company could contribute to India’s digital commerce initiatives, reports the Business Standard.

 

October 31, 2017   No Comments