Consumers

Consumers switching back to buying regular or mid-priced packs in FMCG

The demand for regular packs has revived especially in categories like snacks, biscuits, edible oil, and detergents after more than a year

Walmart beats Q4 expectations, reports strong sales during holiday season

Walmart on Tuesday reported strong sales during the holiday season as budget-conscious consumers looking for better deals flocked to its stores. The report was a good showing for the company, considering consumers had overall cut back on their spending during the traditional November-December shopping period. Though sales rebounded at stores and restaurants last month, showing shoppers are still spending despite higher prices and several interest rate hikes by the Federal Reserve in an effort to curb the problem. The nation's largest retailer also delivered full-year sales of $611.3 billion, up 6.7% compared to the prior year. But it gave cautious guidance for the next fiscal year, saying it expects sales to increase between 2.5% to 3% and U.S. sales to jump 2% to 2.5%. And it forecast adjusted earnings per share ranging from $5.90 to $6.05, excluding fuel. Analysts surveyed by FactSet forecast $6.52 per share, on average. Shares fell more 4% in premarket trading. Walmart, like

Grievance redressal of e-comm players not up to mark: Consumer Affairs Secy

The grievance redressal mechanism of many big e-commerce players is not up to the mark as the number of complaints received by the National Consumer Helpline has risen sharply over the last four years, Consumer Affairs Secretary Rohit Kumar Singh said on Thursday. Addressing an event organised by the Public Affairs Forum of India (PAFI), Singh said the number of complaints registered on the National Consumer Helpline (NCH) has gone up to 90,000 in November compared to 40,000 in the same month last year. "Four years back, the number of complaints pertaining to e-commerce transactions was 8 per cent of the total complaints. Last month, it was 48 per cent of the total complaints," he said. "That means that grievance redressal system of many of the big e-commerce companies is not working up to the mark," he added. Singh noted that the power equation between the consumer and seller has suddenly changed. "Consumer is getting weaker and weaker, that's where the role of this ministry becom

US consumers spend $11 bn more online for domestic flights this yr: Report

Domestic flight bookings so far this year have driven $76 billion in online spend, 17 per cent more than the comparable period in 2019 (pre-pandemic), where $65 billion had been spent

Bankers take to streets with megaphones, enlist grocers to lure customers

Rising loan demand from companies and consumers has pushed annual credit growth to a decade high of 17.95% as of October, compared to a five-year average of 9.7%

Eveready PAT dips 52% to Rs 15 cr on non-cash charge of unamortised fees

Company says the charge will even out for the full year; revenue up 5% to Rs 376 cr

Over 100 mn consumers want to upgrade to 5G in India: Ericsson report

5G consumer readiness is strong in India, with the intention to upgrade to 5G being 2-3 times higher than in developed markets such as the US and UK which has had 5G for some time.

Amazon plans second Prime Day in appeal to deal-hungry shoppers

Many consumers, meanwhile, are planning to cut back because higher food and fuel costs have left them with less to spend.

Consumers dislike convenience fees for digital payment of services: Survey

People prefer making transactions online but regard service charges as unjustified and costly

Reliance Retail buys into 'desi' power by acquiring local consumer brands

By acquiring a string of local consumer brands, the conglomerate is looking to build volumes and scale in its private label retail business

Transactions in Indian retail sector up 160% in H1 of CY2022: CBRE study

Pent-up demand from customers post-pandemic for immersive engagement and convenient in-store experiences has driven productivity at retail spaces, says report

'Right to Repair': Soon, consumers & third-party vendors may fix products

Committee identifies farming equipment, cell phones, consumer durables among sectors for policy

Hike in power purchase adjustment cost won't impact consumers: Kejriwal

Delhi Chief Minister Arvind Kejriwal on Monday said the increase in power purchase adjustment cost (PPAC) won't impact consumers

More than half of global consumers didn't save during pandemic: Survey

Just 13% used them to fund holidays and social events since restrictions lifted, and 19% used the money for home improvements or moving house

Celebrities must disclose interest in products they endorse: Govt

Both government and private advertisements shall be covered by the new set of rules

Bounce rate eases to 22.5% in April despite inflationary pressures

The bounce rate is always higher by volume than value as lower ticket sizes generally tend to bounce more

Walmart, Flipkart offer Indian manufacturers access to 120 mn US consumers

The roadmap is a part of Walmart's efforts to expand its sourcing from India to $10 billion a year by 2027.

We're building single shopping place for next billion consumers: Meesho CXO

Orders have grown 13x since July 2021, pet supplies, stationery among new categories added. Next up: musical instruments, industrial supplies, books, video games

UK govt cracks down on misleading cryptocurrency ads to protect consumers

The UK government on Tuesday joined a slew of nations in cracking down on misleading cryptocurrency ads to protect consumers.

All channels except wholesale higher than pre-Covid levels: ITC's B Sumant

In a Q&A, the firm's executive director dwells on the more long-lasting consumer trends, the recovery in distribution channels and emergence of a dual trend in demand