Retail sales to stay flat this year

Retailers expect flat sales this year on the back of low consumer sentiment and a tight credit market, says a Boston Consulting Group report titled ‘Winning with Uncertainty’. To win in the face of these challenges, retailers need to build agility into their business model, the report says. Abheek Singhi, partner at Boston Consulting Group, […]

Flipkart allows third-party sellers on its website

In a bid to bring independent sellers and buyers together, Flipkart Online Services Pvt. Ltd., which runs India’s biggest online shopping portal flipkart.com has launched Flipkart Marketplace. It will virtually bring sellers and buyers at one place from where they can do the transaction. This will mean that a third party merchant can sell his […]

Jewellers who take gold on lease & hedge get a shield against fall

KOLKATA | MUMBAI: Gold’s spectacular fall was a bonanza for retail buyers, but a mixed bag for jewellers and traders. Top-end jewellers with professional treasury operations sailed past the storm and are feasting in the gold rush, but the smaller ones, spoilt by the 12-year bull run, suffered as they didn’t bother to hedge their […]

Pop-Up stores: Are they here to stay?

The emergence of the pop-up stores has changed a corner of the retail landscape and created a new and exciting platform for brands to showcase a different side to their personality. This short-term format gives a brand the opportunity to show the best of what they do in a short, sharp burst, which is a […]

France’s Auchan plans to set up 60 stores in India: Anand Sharma

France-based Auchan, one of the world’s largest hypermarket chains, has plans to open 60 stores in India, Commerce and Industry Minister Anand Sharma said today. Global chairman of Auchan, Vlanney Mulliez had yesterday called on Sharma. “(Officials of) Auchan group met us yesterday…they want to open 60 stores in India,” he said when asked if […]

Reliance to open five cash & carry stores in the next quarter

Reliance Retail plans to launch five Cash & Carry stores in the country in the next quarter, a key company official said here today. Reliance Retail announced the launch of its second cash and carry store in the country, called ‘Reliance Market’ here after Ahmedabad. “Right now, we have five additional stores that are coming […]

Wal-Mart’s into crowd-sourcing now

Crowd-sourcing, in the Indian context, is the art of organising rent-a-rally for political parties. The western definition has no discernible political overtones, it basically means roping in lots of people to complete a task, for faster and better results. So, Wal-Mart’s imminent foray into crowd-sourcing is hardly addition of a brilliantly appropriate new product to […]

BJP tells the US it is firmly opposed to FDI in retail

BJP has conveyed to the US that it is still firm in its opposition to FDI in multi-brand retail, a proposal which the government has decided to go ahead with after getting an approval from Parliament. BJP sources said the issue was flagged by US Ambassador Nancy J Powell when she called on party president […]

FDI proposals worth over Rs 2,609 cr including Claris Otsuka approved

The government today said it has approved 12 FDI proposals, including that of pharma firm Claris Otsuka, totalling over Rs 2,609 crore. The Foreign Investment Promotion Board (FIPB) headed by Economic Affairs Secretary Arvind Mayaram, also cleared the proposal of Decathlon Sports India’s proposal for induction of foreign equity worth Rs 700 crore to engage […]