Category: Retail

Apple MacBooks, smartwatches go on sale in US as Black Friday nears

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Apple products rarely go on sale — but as Black Friday nears, the unthinkable is happening. Retailers in the US are unleashing mouth-watering deals on Apple MacBooks, smartwatches and iPads. Black Friday is the Friday the follows Thanksgiving, which marks the start of the Christmas shopping season as brands, retailers and companies offer huge discounts on their products.

Here are some deals on Apple products being offered in the US:

MacBook

The biggest discount is on Apple’s MacBook Pro lineup where you can get discounts of around 25 percent. The 14-inch M1 Pro MacBook Pro (10-core CPU, 16-core GPU, 16GB RAM, 1TB SSD) and the 16-inch M1 Pro MacBook Pro (10‑core CPU, 16‑core GPU, 16GB RAM, 512GB SSD) both retail for around $2,000 on Amazon but currently have a hefty $499 off on their prices. The slightly cheaper 14-inch M1 Pro MacBook Pro (8-core CPU, 14-core GPU, 16GB RAM, 512GB SSD) retails for around $1,600 and has a discount of $399 currently. The MacBook Air (M1) 256GB is also being sold for its lowest ever price of $799 on Amazon, with a discount of $200.

Also read: Tim Cook wishes speedy recovery to Maharashtra boy who was saved by Apple watch

Smartwatch

Apple’s newly-refreshed entry-level smartwatch is also available on the e-tailer for a steal. The Apple Watch SE is priced at $279 but is currently available for just $199 on Amazon. If you’re looking for a high-end smartwatch from the company then you can buy the latest Apple Watch Series 8 with a $50 discount over its retail price of $399 at Amazon.

Also read: Apple prepares to source chips from Arizona plant: Report

iPad

One of the best tablets in the market, the 12.9-inch iPad Pro 2021 also has a discount of $300 at Best Buy, the American electronics chain. With the discount, the 128GB model is being sold for just $799.

Also read: You can get up to Rs 7000 off on Apple iPhone 14 at JioMart: Here is how

While no such sales have been announced in India, major retailers may offer some of their own deals on Apple smartphones, laptops, tablets and more.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

How to get a Nothing phone (1) for less than half its price on Flipkart

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Flipkart is offering exclusive discounts on the Nothing phone (1). Customers can combine several offers to get the maximum discount. The Nothing phone (1) is a unique smartphone with a transparent design on the back developed by the budding tech company.

Flipkart is giving a flat Rs 1,000 off on the phone’s price and has listed it at a starting price of just Rs 32,999. Customers using a Flipkart Axis Bank credit card can get an additional 5 percent cashback. Further, customers who opt for exchanging their old smartphone (in working condition) can get up to Rs 17,500 off on the Nothing phone (1).

Customer can also sign up for Flipkart Pay Later option to get a Flipkart gift card worth up to Rs 500. Easy EMI options are available as well, with EMIs starting at Rs 2,963 per month.

Also read: Nothing announces ear (stick) limited drops on Flipkart and Myntra today

Features of Nothing phone (1)

The Nothing phone (1) is a mid-range phone offered in three models, 8GB+128GB, 8GB+256GB and 12GB+256GB. It is powered by Qualcomm Snapdragon 778G+ processor and features a unique transparent design and glyph interface on its back.

It comes in two colour options, black and white, and its glyph interface at the back has light patterns made up of 900 LEDs that indicate signals, app notifications, charging status and more.

Also read: Are big fat Indian weddings back? Vendors rejoice as post-pandemic sales soar even as inflation pinches

The smartphone boasts a 6.55-inch full HD+ OLED display with 60Hz to 120 Hz adaptive refresh rate and a layer of Corning Gorilla Glass 5 for protection.

The phone is equipped with dual 50 MP camera with advanced sensors on the back, with the main camera is the flagship Sony IMX766 and the front camera is a 16MP Sony IMX471 camera. It packs a decent battery of 4500 mAh.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Research shows consumers paid most via credit and debit cards during September quarter

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Hansa Research, an Indian Consumer Insights Provider, released its Consumer Sales Survey (CSS) Report on Monday. Hansa said that the report aims to understand consumer buying behaviour on online and offline channels during sales season. The survey was conducted from July to September when several shopping sales were active in physical stores as well as on e-commerce platforms. 

As per the CSS Report, mobile phones (51 percent) are the most bought products as compared to shoes, apparel, kitchen appliances, self-care, watches and bags. Mobile phones also saw 10 percent more sales in the top eight metro cities like Mumbai, Delhi, and Bengaluru. Shoes (46 percent) and electronic accessories (42 percent) are the other top purchases. Moreover, the report also showed that between online and offline shopping, consumers prefer the former. The only exception to this is in the category of books; which showed equal sales at both online and offline platforms. 

In terms of payments, the report showed that e-wallets are the preferred mode of payment. However, interestingly, the total transaction value made using credit/debit cards ended up being more than any other payment option.

Also Read: Microsoft pauses new Windows 11 update to some users; here is why

There are also gender preferences in the items purchased; women purchase clothes, cosmetics and kitchen items and males shop for mobiles and electronic items. However, the gap between men and women purchasing mobiles or electronic accessories is not huge. Only six percent of men buy more mobiles and five percent more electronic accessories compared to women. In contrast, the gender gap is in favour of women (16 percent) in apparel purchases over men. The survey covered consumers from 19 cities belonging to households in socio-economic classes (SEC) A, B and C.

Most consumers make purchases for immediate use rather than for future use. However, items such as apparel, shoes and bags saw less gap between future and immediate use indicating a ‘Buy Now, Use Later’ consumption behaviour.

Also Read: Apple search engine might get delayed as top talent moves to Google

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

India’s retail sales last month were up 19% over pre-pandemic levels of October 2019

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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India recorded a 15 percent increase in retail sales last month, compared to last year and a 19 percent increase over pre-pandemic levels of October 2019, according to Retailers Association of India (RAI) data. The retail sales for September were up 17 percent from last year and shot up 21 percent from before the COVID-19 pandemic.

The sales were led by the western part of the country were sales were up 25 percent, with north lagging at 14 percent over pre-pandemic levels of 2019. A similar trend was seen on a year-on-year basis as well.

In terms of categories, consumer durables and electronics led sales, with October and Diwali being the season when most people buy electronics, both on the back of it being auspicious and on the back of discounts offered. Sales were up 32 percent year-n-year and 38 percent up from 2019 levels. However, jewellery, and apparel and clothing sales saw slower growth as compared to September, despite festive season also being peak season for these categories. Jewellery sales were up 13 percent year-on-year & 16 percent over October 2019 levels, while apparel and clothing sales were up 11 percent YoY and 12 percent over October 2019.

Among other categories, food & grocery sales were up 15 percent year-on-year and 23 percent over October 2019. Footwear sales were up 13 percent from last year and up 22 percent from October 2019, while beauty wellness & personal care sales were up 8 percent from last year and 16 percent over pre-pandemic levels.

Kumar Rajagopalan, CEO, Retailers Association of India said that the industry saw varied experiences in the market where some brands (especially the known established brands) did well, while some suffered. There was pressure visible in the entry level segment as well, as also echoed by consumer durable makers and other retailers.

One category that lagged this month, he said, was homeware. Data also shows that furniture sales rose only 8 percent in October on a year-on-year basis and over 2019 levels.

“Usually consumers come buy 10-15 days ahead of time, but this time we saw consumers being more measured and most shopping happened only in the last minute, right before Diwali. So there were a lot of crowds, but people were buying what they needed in the last minute,” he added.

Rajagopalan added that while inflation headwinds were visible, combining October data with November is likely to present a clearer picture of festival season demand.

“The removal of pandemic-related restrictions has resulted in all-round growth of retail businesses across regions and categories. In order to understand the complete impact of the festival season on retail sales, it is essential to see the figures of October and November combined. We would await the results for the month of November to draw definitive conclusions. However, all the signs indicate a positive trend,” Rajagopalan added.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Berger Paints hopes to see a turnaround as raw material prices cool off

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Berger Paints posted a healthy 20 percent revenue growth in the second quarter of the ongoing financial year that ended in September but the gross margin was down 300 bps owing to high raw material costs.

The management is hopeful that the softening of raw material prices being seen now will lead to profitability improvement in the second half of the year. The company is happy with its urban market demand but is hoping for an uptick in the rural market.

Abhijit Roy, the MD & CEO of the company, told CNBC-TV18, in an interview after the earnings, “Urban demand was better than the rural areas. And we expect that the rural will also pick up now in the second half of the year.”

Berger Paints is hopeful of an improvement in gross margin going forward.

“As far as the volume growth is concerned, we registered a volume growth of around 11 percent in quarter two with value growth of around 22.5 or 23 percent,” he added.

Berger Paints expects to see an approximate 10 percent volume growth in the remaining fiscal.

“The volume value difference will however decrease because in the last year all the price increases had happened towards November. We finished off most of it. So therefore the volume value gap will go down substantially. This quarter it was 12 percent. Next quarter, it will be much lesser than that,” Roy said.

For the full interview, please watch the video

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Good results expected from Bata India on a low base in September quarter

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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[wealthdesk shortname=”Bata India” isinid=”INE176A01028″ bseid=”500043″ nseid=”BATAINDIA” sector=”Leather Products” exchange=”nse”]

Bata India will be reporting its quarter two FY23 results on November 10, 2022. After Campus and Metro’s listing, Bata has actually been quite an underperformer in the footwear space. It’s down about 20 percent from its 52 week high as well.

However, this time around, it’s a good set which the Street is expecting and that’s primarily on account for low base.

Post the pandemic, people are back to school, offices, social events and also back to buying a lot of comfort footwear, which is actually margin accretive for Bata itself.

Revenue growth is largely expected to be led by price hikes that the company has taken and also as a result of that the EBITDA will jump on a high base.

What’s the Street working with this time around for Bata?

Analysts are looking at 28.5 percent in terms of a top line growth. On bottom line, they are looking at Rs 90 crore versus Rs 37 odd crore.

Also Read: Bata says kids returning to schools aided firm in posting highest quarterly sales

Growth outlook in the second half is important to watch out because the third quarter for the company is among the largest quarters. Raw material trajectory and store expansion is something that the analysts will be eyeing closely as well.

For more, watch the accompanying video

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Shopping is a therapy, says Raymond which is in business for 97 years

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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[wealthdesk shortname=”Raymond” isinid=”INE301A01014″ bseid=”500330″ nseid=”RAYMOND” sector=”Textiles – Woollen & Worsted” exchange=”nse”]

Raymond’s Group CFO Amit Agarwal on November 4 said that the company has seen good numbers, which is reflected in a more-than 26 percent growth in branded textiles, 65 percent-plus growth in the branded apparel business — leading to a strong performance for the second quarter.

The fabric and fashion retailer reported over a two-fold jump in its consolidated net profit at Rs 162 crore in the second quarter of the ongoing fiscal, on improved growth across its business segments. In fact, it said that the company has seen buoyed domestic demand driven by strong consumer sentiments, and an uptick in social gatherings and celebrations with the onset of festivities.

“We are looking at a growth and that is reflected by delivering the highest or record revenue, EBITDA numbers, PAT numbers and if I look at our numbers pre-COVID, on a consolidated basis, we have grown 15 percent,” said Agarwal.

While talking about the e-commerce business, he said, “People thought during the pandemic that there has been a significant shift to online and which would remain permanent in nature is not actually not the case.”

Also Read: Raymond’s shirt segment not impacted due to high cotton prices as wedding season kicks in

“We think, as Raymond, being in the business for 97 years, that shopping is an experience, it is therapy. So we are seeing that the brick and mortar store has its relevance and we are growing our store count as well,” Agarwal said.

On real estate business, he said, “We have sold 85 percent of our total launched inventory. We have 2 projects in Thane. One is TenX where we sold 120 units and the second is The Address by GS, where we sold 67 units. So that reflects that in the quarter we have been getting strong bookings and the trend continues.”

Also Read: Real estate sector enjoying festive run, experts bullish on realty index

For more details, watch the accompanying video

Also, catch all the live updates on markets with CNBC-TV18.com’s blog

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Reliance Retail launches athleisure label Xlerate with Hardik Pandya as brand ambassador

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Reliance Industries Ltd’s (RIL) retail arm Reliance Retail Ltd on Tuesday, November 1, launched an athleisure brand, Xlerate, on its new commerce platform, AJIO Business.

The brand caters to the unique requirements of sports and fitness enthusiasts who seek style and comfort in their fitness journey. It offers a wide variety of high-quality, functionally-superior sporting merchandise and footwear that deliver industry-leading style and convenience, Reliance Retail said.

Xlerate has something on offer for every value segment, with prices starting at Rs 699. The brand reflects the spirit of fitness-conscious young men and women of India who take an active interest in sports.

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Hardik Pandya

Further, Reliance Retail has signed ace Indian cricket all-rounder Hardik Pandya as its brand ambassador. AJIO Business partners with retailers and merchants across the country to empower them with an extensive portfolio of 5,000-plus fashion and lifestyle brands.

The products offered by Xlerate include sports shoes, athletic and lifestyle footwear, apparels such as track pants, T-shirts, shorts, and other accessories. Xlerate products are exclusively available on AJIO Business.

Any retailer in India, including small-sized general sports stores and fashion retail outlets, can place an order for Xlerate products by registering on AJIO Business.

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Speaking on the Xlerate launch, Akhilesh Prasad, President and CEO — Fashion and Lifestyle at Reliance Retail, said Xlerate is sure to delight the value-conscious consumer with its superior and affordable product offering.

Commenting on his association with Xlerate, Hardik Pandya said, “I am pleased to associate with Xlerate. I think they have an extremely stylish and comfortable range of products. Their brand ideology, ‘Don’t brake, Xlerate,’ resonates with my philosophy in life, to continue working hard with self-belief and intensity.”

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Amazon India seller Appario Retail to stop selling on platform within a year

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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E-commerce firm Amazon India on Friday, October 28, said online seller Appario Retail Private Ltd will cease to be a seller from the company’s online platform within 12 months.

“Amazon and India’s Patni group-owned Zodiac Wealth Management LLP have agreed to renew their joint venture Frontizo Business Services Private Limited. Partners have decided that Appario Retail Private Limited, a wholly-owned subsidiary of Frontizo, will cease to be a seller on amazon.in and amazon.in/business within the next 12 months,” a joint statement said.

Appario Retail is one of Amazon’s largest sellers in India and a wholly-owned subsidiary of Frontizo Business Services, which is a joint venture between Amazon India and Patni Group-owned Zodiac Wealth Management LLP. It mainly sells smartphones, smartwatches, electronics, etc across brands.

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Appario and Cloudtail are the two most prominent sellers on the e-tailer’s platform, which came under CCI scanner earlier this year for being Amazon’s preferred sellers.

Online retail firm Cloudtail India, one of the largest sellers on the Amazon India marketplace, stopped selling on the e-tailer’s platform in May 2022.

Also read: Key challenge for CCI is implementing amendments: Ex-chairman AK Gupta

Cloudtail is primarily engaged in the business of trading goods on the e-commerce marketplace. It is a joint venture (JV) firm between Infosys Founder N.R. Narayana Murthy and Amazon.

The JV was dissolved after Murthy’s Catamaran, which held a 74 percent stake in the Prione Business Services, that operated the JV, decided to discontinue it in August last year. The American e-commerce giant holds a 24 percent share.

Also Read: LTTS to hire over 1000 engineers for its new Mysuru campus

Prione Business Services was formed in 2014 and was up for renewal on May 19, 2022. However, in August, Amazon and Catamaran announced that they have mutually decided to not continue their joint venture beyond May 2022.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

FMCG sales up 10.6% in Diwali week led by commodities, chocolates and confectionery

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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India’s FMCG sales in the Diwali week of October 18-24 grew 10.6 percent over the corresponding Diwali week of 2021, data from retail intelligence platform Bizom showed.

Sales in the month of October until Diwali (Oct 1-24) grew 5.6 percent over September, while they grew 5.2 percent over the same period last year. This uptick – after sales fell 9.6 percent month-on-month in September – was led by sale of commodities, chocolates and confectionery on the back of the festive season.

Bizom says that the rise in consumption of sweets and savouries during Diwali led to a surge in commodity sales, which increased 26.4 percent in October over September.

Also read: Festive season witnesses strong sales across most sectors

And gifting led to a surge in sales of confectionery and chocolates, which grew 12.9 percent. It added that consumers have exhibited Revenge festivities which has helped drive FMCG sales up despite headwinds of inflation keeping their non-food discretionary spends relatively under control.

As a result, FMCG non-food discretionary products remained under pressure despite the festival season. 

This is also evidenced in the category-wise sales data. While commodities chocolates and confectionery grew, all other category saw a decline in sales over September. Packaged foods sales were down 3.9 percent while homecare was down 4.3 percent.

Personal Care sales too, continue to be under pressure, down 17.6 percent. And beverages being off season saw a decline of 23.1 percent in sales.  

Last month too, these categories saw sales decline where beverage sales were down 6.3 percent, packaged foods down 6.7 percent, homecare 8.6 percent in September over the previous month of August.

Inflationary pressures continued in rural markets, with urban showing stronger growth than urban.

Also read: Mumbai buyers loosen their purse strings for Diwali

“Also, with monsoons being erratic this year, we’ve seen  droughts in some regions as well as excessive rainfall leading to crop damage. This hasn’t helped improve rural consumer sentiment too much,” Akshay D’souza, CMO, Bizom said.

FMCG companies too, have been flagging a rural slowdown on the back of inflation. While announcing its Q2 earnings, HUL’s Sanjiv Mehta said that for FMCG, rural markets saw volumes decline 9 percent while urban markets saw a 3 percent decline while overall, the sector saw a value growth of 7 percent, while volumes declined 6 percent.

The company said it continues to be cautiously optimistic because while there are some signs of a pickup from September, volumes are still negative and commodity prices still inflated.

Dabut too said that rural demand was lagging urban for the company for the first time in five quarters. However, it added that green shoots are visible with the recovery of the festive season.

With some commodities showing signs of cooling off, companies expect rural demand to pick up in the second half of the fiscal.

Also read: NHPC targets Rs 15,000 cr revenue and Rs 5,000 cr net profit in next 5 years

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow