Devaranjan Iyer News Today

Apparel retailers are facing challenges with unsold inventory, resulting in write-offs and impacting margins. They are reducing sourcing periods to mitigate the risk of obsolescence and adjusting their ordering strategies. The industry was unprepared for the sudden demand slump after the festive season in 2022, leading to stockpile. Retailers are now planning for shorter periods and buying closer to the season. Despite extended discounting, retail sales growth has been negative for like-for-like...

Consumer goods companies report increased sales of winter products like moisturizer, lotion, honey, woolen apparel, geyser, and room heaters due to the recent cold wave. However, the late onset of the season and warm December have affected overall winter sales, which were previously down by 5-10% in December.

Till about this cold wave, sales of winter products were muted and had degrown by 5-10% year-on-year in December. Even if the current surge may not wipe out the entire losses, industry executives expect some winter categories may eventually post flat sales.

Till about this cold wave, sales of winter products were muted and had degrown by 5-10% year-on-year in December. Even if the current surge may not wipe out the entire losses, industry executives expect some winter categories may eventually post flat sales.

Indian Consumers: While the affluent segment gravitated toward luxury apartments, high-end cars, and premium consumer goods, lower-income brackets grappled with inflation and rural hardships. Sales surged for luxury items, bustling malls and restaurants, alongside a spike in hotel room rates due to heightened demand. Conversely, FMCG companies faced stagnation in selling everyday items like biscuits, soaps, shampoos, and perfumes, yearning for increased consumption rates.

Athleisure: Sales of semi-casual or smart casual office wear, including denims, chinos, polos and casual shirts and sneakers are growing at a faster pace than traditional formal wear, according to retailers. The trend reflects an increase in employment in the services, financial and IT sectors, where formal wear has been replaced with “Friday dressing” for everyday use.

Sales of semi-casual or smart casual office wear, including denims, chinos, polos and casual shirts and sneakers are growing at a faster pace than traditional formal wear, according to retailers. The trend reflects an increase in employment in the services, financial and IT sectors, where formal wear has been replaced with “Friday dressing” for everyday use.