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The <keyword id="23021375" type="General" weightage="20" keywordseo="domestic-passenger-vehicle-industry" source="keywords">domestic passenger vehicle industry</keyword> volumes declined by low single digit in August 2024 as compared with August 2023, because of weak retail demand trends and higher <keyword id="21396778" type="General" weightage="20" keywordseo="inventory-levels" source="keywords">inventory levels</keyword> at the dealerships according to Kotak Institutional Equities. The report suggests that the major reason for the sluggishness in sales of tractors is the uneven spatial distribution of rainfall, particularly in northern and eastern regions. It also highlights that growth will pick up in the coming months on the back of <keyword id="23021373" type="General" weightage="20" keywordseo="improved-monsoon" source="keywords">improved monsoon</keyword> conditions. The upcoming festive season will also improve the situation as traditionally it is a peak period for auto sales. Strong festive demand could help offset some of the losses experienced in the first half of the fiscal year. The weak wholesale figures in August were driven by private vehicles (PV), commercial vehicles (CV) and tractor original equipment manufacturers (OEM). Retail sales declined in single digits (yoy) for most of the companies. The PV segment saw a low single-digit decline in domestic wholesale volumes year-on-year (YoY) in August 2024, driven by weak retail demand and elevated inventory levels at dealerships, which stood at approximately 70 days. The retail sales fell by mid-single digits YoY during the month. Maruti Suzuki India Limited (MSIL), the largest player in the segment, reported a 4 per cent YoY drop in total volumes, including a 5 per cent decline in domestic sales but it was partially offset by a 6 per cent rise in the export volumes. MSIL's wholesale market share is estimated to have slipped by 250 basis points YoY to approximately 40.5-4 per cent says the report. Other major players also faced challenges in sales. Tata Motors recorded a 3 per cent YoY decrease in PV volumes, while Hyundai Motors reported an 8 per cent drop. However, Mahindra &amp; Mahindra (M&amp;M) bucked the trend with a 16 per cent YoY increase in PV volumes, and Toyota India posted a significant 37 per cent YoY growth on low volumes. Kia and MG Motors also experienced an uptick in sales. The two-wheeler (2W) segment showed resilience with high single-digit YoY growth in domestic wholesale volumes, largely driven by channel filling ahead of the festive season. Retail sales of the internal combustion engine (ICE) two-wheelers grew by mid-single digits YoY, while electric two-wheeler (EV 2W) sales surged by 41 per cent YoY, propelled by new mass-market EV launches and attractive discounts. Among the key players, Hero MotoCorp (HMCL) saw a 5 per cent YoY rise in volumes, and TVS Motor reported a robust 14 per cent YoY increase, with growth in both domestic and export segments. Bajaj Auto's volumes grew by 18 per cent YoY, driven primarily by domestic sales. However, Royal Enfield faced a 5 per cent YoY decline in volumes. Going forward, the report highlighted that the Commercial Vehicle (CV) segment underperformed during the month, with domestic volumes declining by low double digits YoY, primarily due to weakness in the Medium and Heavy Commercial Vehicle (MHCV) truck and Light Commercial Vehicle (LCV) segments. Tata Motors experienced a 15 per cent YoY drop in domestic CV volumes, with sharp declines in Small Commercial Vehicle (SCV) cargo (down 23 per cent) and MHCV trucks (down 15 per cent). Ashok Leyland also reported a 7 per cent YoY decline in CV volumes, while VE Commercial Vehicles (VECV) managed a modest 1 per cent YoY increase. In August, the domestic tractor segment remained flat YoY with volumes coming in 5-6 per cent. During this period, M&amp;M's tractor volumes grew by 1 per cent YoY, while Escort Kubota's volumes remained unchanged compared to the same period last year. The report says that strong festive demand could help offset some of the losses experienced in the first half of the fiscal year, particularly if economic conditions and consumer sentiment improve.

Auto Industry sales to surge on the back of improved monsoon, festive season demands: Report

<ul><li>India’s erratic weather conditions have been a setback for <keyword id="3734576" type="PERSON" weightage="20" keywordseo="spice-industry">spice industry</keyword> even during the festive season. </li><li>Several states have witnessed sluggish demand across spices specially <keyword id="55635" type="ORGANIZATION" weightage="20" keywordseo="Turmeric">turmeric</keyword>. </li><li>Spot turmeric prices are quoting lower day after day at the major Erode market </li></ul>The erratic monsoons this year has taken the colour off Indians and their food too, as it seems. While the festive spirits are high, the celebratory foods will fall short of spices. Several states have witnessed sluggish demand across spices specially turmeric, says a report by SMC Capital. Sluggish demand day by day Even as vegetable prices are going up, this festive season, the prices for spices like turmeric, jeera (cumin), dhania (<keyword id="150916" type="COMPANY" weightage="20" keywordseo="Coriander">coriander</keyword>) are coming down. "Spot turmeric prices are quoting lower day after day at the major Erode market (in Chennai) amid sluggish demand. According to traders, demand is weak due to the ongoing rains in many states," the report says. Finger turmeric was sold at ₹5,669-7,809 a quintal. The root variety was sold at ₹5,251-6,465 a quintal at the Erode Turmeric Merchants Association Sales yard. Same is the case with <keyword id="44533" type="COMPANY" weightage="20" keywordseo="Cardamom">Cardamom</keyword> futures “Cardamom futures may witness an upside momentum towards 3200-3300 levels in November. The sentiments are upbeat due to strong festival season demand and lesser supply. This is the <keyword id="1503662" type="PERSON" weightage="20" keywordseo="Peak-season">peak season</keyword> for cardamom. Ideally, at least 150tn should arrive in the market, but only half the quantity is arriving for sale,” said the report.

The feast season in India is turning out to be less spicy

As India gears up for its vibrant festive season, a notable surge in <keyword id="23052492" type="General" weightage="20" keywordseo="seasonal-hiring" source="keywords">seasonal hiring</keyword> is taking place across various industries, with gig roles leading the charge. According to data from job site Indeed, seasonal hiring is projected to rise by 20% this year compared to last, driven primarily by <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword>, logistics, and retail sectors, as companies prepare for heightened consumer demand. Sashi Kumar, Head of Sales at Indeed India, emphasised, "The festive season is a crucial period for businesses across India, and we're seeing a significant uptick in hiring for seasonal roles as companies prepare to meet heightened consumer demand." <h3 style="line-height:1.2;margin-top:14.0pt;margin-bottom:4.0pt;">What is gig work?</h3>Gig work refers to flexible, short-term, or freelance employment often facilitated by digital platforms. Unlike traditional full-time jobs, gig workers are hired on a project basis, allowing them to work for multiple employers or companies as needed. These roles are popular in industries like food delivery, transportation, and logistics. During India's <keyword id="21015356" type="General" weightage="20" keywordseo="festival-season" source="keywords">festival season</keyword>, when businesses experience a spike in demand, gig workers play an essential role in ensuring smooth operations across sectors like retail and e-commerce. <h3>Gig labour during festival season</h3>The festive season in India, spanning from September to December, is one of the busiest times of the year for businesses. As a result, companies ramp up hiring to cope with increased sales and customer demand. Seasonal roles in delivery, logistics, warehouse operations, and customer support see the highest demand, as businesses focus on timely deliveries, inventory management, and customer satisfaction. Indeed's data reveals that the top gig roles witnessing a rise in hiring this season include <keyword id="21462485" type="General" weightage="20" keywordseo="delivery-executives" source="keywords">delivery executives</keyword>, <keyword id="22103182" type="General" weightage="20" keywordseo="warehouse-workers" source="keywords">warehouse workers</keyword>, <keyword id="23052493" type="General" weightage="20" keywordseo="logistics-coordinators" source="keywords">logistics coordinators</keyword>, <keyword id="23052494" type="General" weightage="20" keywordseo="in-store-sales-executives" source="keywords">in-store sales executives</keyword>, and customer care executives. While major cities like Mumbai, Bengaluru, and Delhi see a steady increase in demand for gig workers (18-20%), tier-2 and tier-3 cities like Nagpur, Jaipur, and Vadodara are emerging as key contributors, witnessing a hiring surge of 22-25%. <div type="Article" hostid="261" msid="112999246" title="As fast as some jobs are growing, others are losing steam" mstype="2" mssubtype="0"></div><h3><keyword id="3480589" type="General" weightage="20" keywordseo="meesho" source="Orion">Meesho</keyword> major contributor</h3>One of the standout examples this festive season is Meesho, a leading e-commerce marketplace in India. According to sources, the platform has enabled around 8.5 lakh seasonal job opportunities, representing a 70% increase from last year. Of these, 5 lakh jobs were created within Meesho's seller network, while another 3.5 lakh jobs emerged in the logistics sector. Sourabh Pandey, CXO of Fulfilment and Experience at Meesho, shared, "This festive season, we are particularly thrilled to have enabled 8.5 lakh seasonal jobs, especially in tier-3 and beyond cities. Empowering SMBs, local manufacturers, and logistics providers to scale their business is resulting in meaningful economic opportunities that are driving financial inclusion in these regions." Meesho has reportedly also partnered with prominent third-party logistics providers such as Delhivery, Ecom Express, and Shadowfax to meet the increased demands of the festive season. These collaborations have not only expanded logistics capacity but also helped generate gig opportunities in first-mile, middle-mile, and delivery associate roles. Abhishek Bansal, CEO &amp; Co-founder of Shadowfax, commented, "We are particularly excited to nearly double our capacity across several value-added services, such as Reverse Quality Check-Based Pickups and Hand-to-Hand Doorstep Exchange. These efforts ensure smooth deliveries and returns during the festive rush." <div type="Article" hostid="261" msid="112720685" title="If you want to find a job, it&amp;#39;s time to specialize" mstype="2" mssubtype="0"></div><h3 style="line-height:1.2;margin-top:14.0pt;margin-bottom:4.0pt;">The future of gig work in India</h3>The rapid rise in <keyword id="23052491" type="General" weightage="100" keywordseo="gig-hiring" source="keywords">gig hiring</keyword> reflects the evolving needs of today's consumers, particularly during high-demand periods like the festive season. The e-commerce industry, which saw a 35% rise in demand for seasonal workers, is expected to continue driving this trend, with logistics and retail sectors close behind. "The industries that are growing — e-commerce, logistics, quick commerce — are doing so because they're aligned with the needs and behaviours of today's consumers,” Sashi Kumar explains. “This is where the future of India's <keyword id="19916569" type="General" weightage="20" keywordseo="job-market" source="keywords">job market</keyword> could be heading". With a flurry of companies contributing significantly to job creation, particularly in tier-3 and tier-4 cities, gig work is becoming a vital source of employment across the country. As India's job market evolves, gig work is likely to play an even larger role in shaping the future of work, offering flexibility and economic opportunity to millions of workers. (With inputs from agencies)

E-commerce is expected to help seasonal hiring for gig roles surge by 20% this festival season: reports

The Months from August to November are by far the busiest months for the Indian transportation sector. The air sector for transportation is quite expensive in the country, hence people and companies prefer to save a penny using the land transportation facilities. 
 In a report by <keyword id="1561455" type="COMPANY" weightage="40" keywordseo="transportation-corporation">Transportation Corporation</keyword> of India (<keyword id="109696" type="COMPANY" weightage="80" keywordseo="TCI">TCI</keyword>), the company stated that the <keyword id="108235" type="ORGANIZATION" weightage="80" keywordseo="logistics">Logistics</keyword> sector witnesses a spike of 10-15% in volume during the <keyword id="46637" type="UNKNOWN" weightage="80" keywordseo="festive">festive</keyword> season. And around these months most companies gear themselves to cater to the increased demand for logistics and supply chain services. 
 
To overcome the extreme demand some logistics firms are sourcing vehicles from the market to meet sudden volume increase, which has also increased the freight rate by 5%. A problem faced during this time by transportation companies is of driver shortage, which can leads to stalling of vehicles and companies are not able to complete orders. This is probably the reason goods do not reach the destinations on time around these months. 
 
According to TCI, the goods that are expected to see increased movements this season are White goods and electrical appliances, apparels, foot wears, garments, mobile handsets, pooja material and more. Major movements of goods are from North and West to all other parts of India. The spike eases soon after <keyword id="188" type="ENTERTAINMENT" weightage="80" keywordseo="Diwali">Diwali</keyword> and some rise is again seen in the month of December. However, that is not as big as the one seen around Diwali. This season is no different than the last, as factories and businesses are busy shipping goods all over the country and make the most of the festivities.

Indian
Logistics Sector Witnesses 10-15% Rise In Demand Around The Festive Season

Luxury carmakers <keyword id="19980471" type="General" weightage="20" keywordseo="Mercedes-Benz" source="keywords" meta.keywordsubtype="org" meta.entityname="Mercedes-Benz" meta.hostid="153" meta.entityid="Mercedes-Benz">Mercedes-Benz</keyword>, <keyword id="19911529" type="General" weightage="20" keywordseo="Audi" source="keywords" meta.keywordsubtype="org" meta.entityname="Audi" meta.hostid="153" meta.entityid="Audi">Audi</keyword>, and <keyword id="19911528" type="General" weightage="20" keywordseo="BMW" source="keywords" meta.keywordsubtype="org" meta.entityname="BMW" meta.hostid="153" meta.entityid="BMW">BMW</keyword> are eyeing robust sales during the festive period this year with demand for <keyword id="20194571" type="General" weightage="20" keywordseo="High-end-cars" source="keywords">high-end cars</keyword> continuing to see an upward trend in India. In an interaction with PTI, Mercedes-Benz India MD and CEO Santosh Iyer said the luxury car segment is set for its best-ever performance this year with <keyword id="19894908" type="General" weightage="20" keywordseo="Festive-season" source="keywords">festive season</keyword> offtakes playing a major role in the overall performance. He noted that the festive season generally gives high double-digit <keyword id="20040491" type="General" weightage="20" keywordseo="Sales-growth" source="keywords">sales growth</keyword>, helping the automaker to average out single-digit growth of the earlier quarter. "So in that sense, on an average, then we are able to get a double-digit growth during the festive season," Iyer stated. Elaborating on the overall industry, which still remains a very small part of the overall passenger vehicle market in the country, he said the segment is headed for record volumes this fiscal year but not all players are witnessing growth." Some (companies) are even degrowing, some are flat and they are facing headwinds, but because we are the primary player in the market, we still feel the luxury car market should cross 50,000-51,000 cars this year," Iyer said. The luxury car market in India currently remains very small accounting for less than 2 % of the overall passenger vehicle market in the country. Audi India Head Balbir Singh Dhillon said the automaker anticipates positive buying trends to continue during the festive season. "Our best-selling models - the A4, A6, Q3, Q3 Sportback, Q5, Q7, and the newly launched Q8 - continue to drive robust demand," he added. The company is equally optimistic about the e-tron range, the e-tron GT and RS e-tron GT, Dhillon said. BMW Group India President Vikram Pawah said the fundamentals of the Indian economy are sturdy and consumer confidence in the luxury segment is on the rise. "For BMW Group India, the order bank is solid and we are trying our best to speed up deliveries for our customers. Along with additional bookings around Diwali and Dussehra, we are confident of closing the year on a high note while clocking impressive growth," he stated. He noted that the group is witnessing very strong demand for products across all segments. Pawah said that in the run-up to the festive season, the company has introduced several special editions of its existing model range. The festive season usually commences with Onam and ends with Diwali every year.

Luxury carmakers Mercedes, Audi, BMW expect robust sales this festive season

<ul><li><keyword id="31174" type="PERSON" weightage="20" keywordseo="brands">Brands</keyword> have seen early signs of recovery during <keyword id="126295" type="ORGANIZATION" weightage="20" keywordseo="Akshaya-Tritiya">Akshaya Tritiya</keyword> and <keyword id="6385850" type="UNKNOWN" weightage="20" keywordseo="Raksha-Bandhan">Raksha Bandhan</keyword> and their businesses are approaching normalcy. </li><li>After surviving the storm during the lockdown, brands have a lot of hope resting on the festive season to bring in cheer and profitability in their businesses. </li><li>With Ganesh Chaturthi around the corner, we decided to speak to a few brands across categories on how they are preparing for the festive season and what kind of expectations they have pinned on the latter half of the year for recovery. </li></ul>Brands are pinning a lot of hopes on the festive season this year to help them bounce back. They have started working on their advertising campaigns in full swing to win back consumer trust and help shape the <keyword id="29547" type="PERSON" weightage="20" keywordseo="Market">market</keyword> sentiment. The festive season, which begins in August and continues till January, often results in a disproportionate increase in demand of goods and services, marking an important period for most consumer brands. However, the pandemic this year has made consumers frugal and the current market unrest has taken a sharp toll on the total spends. As per Madison’s report, AdEx collapsed by as much as 65% because of COVID-19 in Q2, indicating how badly the economy has been performing so far. Last year for Television, the Indian Premier League (IPL), ICC World Cup and Elections in Q2’19 contributed around Rs 3,000 crore (34% to the TV AdEx in Q2’19). However, the pandemic removed both these money-spinners from the AMJ quarter this year, which has added to the decline. This year, brands are trying to come up with innovative solutions to reach out to their consumers at their door steps and are optimistic about seeing a stable growth in the next few months. Fashion e-commerce giant Myntra has seen early signs of recovery and <keyword id="1549018" type="PERSON" weightage="20" keywordseo="consumer-sentiments">consumer sentiments</keyword> picking up during Raksha Bandhan as it witnessed a surge in demand for women's ethnic wear, men’s occasion wear, kids wear, and accessories such as watches, handbags. It also saw 3.5 million customers shopping during the June edition of EORS, a testimony of how consumer sentiments are getting back on track. “The festive season, followed by winter, is the most exciting quarter for Myntra. This year we are expecting a massive scale and growth in festive buying as consumer sentiment continues to be strong. Myntra is already operating at a pre-lockdown scale, and this upcoming festive season will definitely help us in boosting our growth further. Our focus will continue to be on enhancing customer experience by providing high-quality merchandise in a curated and personalized store, along with safe and fast delivery. Our new customer acquisition is at an all-time high and we are ensuring we help them in all their lifestyle needs. We are witnessing a spike in our Tier II and Tier III customers and orders as well,” said Ayyappan Rajagopal, Head of Business, Myntra. Another new-age brand Melorra that specializes in modern jewellery, has managed to avoid the losses incurred by various other businesses during the pandemic months. It saw a 400% growth in the last financial year, and is confident of matching that level of growth with a strong performance in the upcoming festive season. “The festive season this year is expected to be even more impactful than the past for Melorra. Firstly, the lockdown that started in March slowed down the jewellery purchase due to disruption in the delivery logistics, and most of the people are looking to buy jewellery now that the deliveries have resumed. Given the pandemic, all festivities in the first 2 quarters of the FY was a washout, hence there could be a trend reversal during festive season – but not at the previous levels. Since the prices are also at an all-time high, customers would opt for lightweight and trendy gold jewellery that is not only stylish but also easy on the pocket. Melorra caters to women who live in the moment and do not keep gold stacked away in lockers like before. Hence, it is definitely a key period for the brand and the jewellery industry at large,” said Sharat Krishnan, Head of Marketing, Melorra. The festive season has always been the most important part of the year for the jewellery business. Titan has already seen 80% recovery because people are celebrating their milestones with their families at home. It has a campaign and launch of a new collection lined up for October. Ajoy Chawla, CEO Jewellery Division, Titan Company Ltd sees no reason why the festive season shouldn’t be as good as last year. “It would be as good as last year or slightly lesser. The most optimistic expectation is that it should be as good as last year. Even if it is 90% or 80% close to last year’s performance, that’s good. We’re currently seeing 80% recovery and this is my best estimate. We’ve seen this recovery because people are still celebrating milestones like anniversary, birthdays, etc. They understand that the reality is grim but how long can you keep your life on hold? They want to feel good. Also, Q3 is wedding season but the festive season is delayed this year so the season may start a little slower unless there are massive rebound cases. Some markets also take two steps forward and three steps back, there is always some fluctuation. However, after October, we are hoping to see more stability. We will also launch a new collection and campaign around October,” shared Ajoy Chawla, CEO Jewellery Division, Titan Company Ltd. On what the consumer sentiment would likely be this festive season, Nidhi Sinha, Head of Content, Mintel India said, "One of the most important things people are looking forward to once the restrictions of the pandemic are lifted is meeting friends and family. However, according to research from Mintel’s Global COVID-19 Tracker in August, 42% of Indian consumers are looking forward to meeting family and friends in person compared to 34% of consumers in early July. This desire has accelerated due to the onset of the festive season." Mintel's research data indicates that consumer sentiment is improving and there is more willingness to spend on luxury items and good brands in the market. Sinha added, "Ganesh Chaturthi, which is round the corner, would be one such important festival that would entail celebrations in a different way so as to be in line with the pandemic protocols. As people continue to be under restrictions due to the pandemic, this festival is expected to be low key compared to regular times. However, Mintel research highlights that 30% of Indian consumers are planning to spend more on clothes and accessories, presenting an opportunity for brands. This is indicative that people are planning to spend on indulgences despite a negative economic outlook. Brands like Gemini oil, Ferns and Petals and Cadbury have been very agile in talking about the changing face of the festivities and how it is an opportunity for people to spend such festivals at home with their loved ones.” Festive season is an important period for the retail industry. It is a time when consumer spending is at an all-time high. One of the leading sportswear brands PUMA has multiple new launches planned throughout the season to cater to increasing demand. Telling us how the consumer sentiment changed in retail, Abhishek Ganguly, General Manager, PUMA India and Southeast Asia said, “As we’re witnessing right now, online channels will continue to be a convenient option for consumers to shop. Given the precautions around health and safety, we are seeing people shop online or go to a store where they are confident about the hygiene measures being implemented. Having said that, as lockdown continues to be relaxed across the country, we are seeing a steady week-on-week increase in footfalls with consumers visiting our stores to buy fashion essentials.” On festive expectations, Ganguly added, “Over the last 3-4 months, we have been seeing steady growth across both our offline and online channels. The conversions have increased substantially from pre-Covid times as people exactly know what they want to buy and are shopping with a clear intent. Given the trend of how things are continuing to improve compared to the previous months, we are very hopeful of a strong September and October. We hope this trend continues through the festive season and beyond.” Electronics giant Philips has launched a few new products like Smart Hair Dryer, Eyebrows Trimmer this month to ride on the improving consumer sentiment due to the festive season. Gulbahar Taurani, Vice-President, Personal Health, Philips Indian Subcontinent, Philips India, said, “The trends indicate that this is going to be a good season. We will have our challenges in terms of supply chain, partial lockdown, movement of products because the number of COVID cases are going up. From a demand standpoint, we see a very positive sentiment. I believe that this is going to stay, which will drive the festive season. As a part of the festive season, we had a couple of new launches last month itself.” The furniture segment, which was on complete halt during the lockdown as it did not fall under essentials, is also gearing up for the festive months. Given that individuals are spending more time at home due to the lockdown, home-grown brand Pepperfry witnessed an uptick in demand for WFH furniture and décor. In fact, Pepperfry is already at 100% of its pre-lockdown sales volumes. Kashyap Vadapalli, Chief Marketing Officer &amp; Business Head, Pepperfry is now anticipating to see this trend boost their sales further as people continue to focus on making their home spaces better equipped for everything. The brand is upping its digital media game and has launched a new campaign called ‘Swadeshi is Great’. “Given that household products and celebrations at home play such an important role during the festive season, consumers are constantly looking to revamp/renovate the space such that the home category witnesses a natural upswing in demand during festivals. With this combination of consumer adaptation and brand innovation, we are positive about the consumers’ outlook and demand for categories like home décor and furniture. As consumers have become apprehensive with regards to shopping offline or even stepping outside, they are increasingly adapting to buying online. Our online business is already at 120% of pre-COVID levels. As we move along, we plan to keep innovating with digital tools to enhance our consumers’ buying experiences,” said Vadapalli. The sudden outbreak of the pandemic brought a lot of businesses to a standstill. However, one of the few sectors that have seen an upturn amid the nationwide lockdown is EdTech. Now, to evolve with changing times and to prepare for the upcoming festive season, upGrad is looking at altering its marketing strategy. It is shifting its spends towards TV as consumers would want to spend more time together, while supplementing it with digital. Telling us what kind of changes EdTech has gone through lately, Arjun Mohan, CEO-India, upGrad said, “Given the current scenario, consumer priorities are being re-calibrated. They are now undergoing a behavioral shift which is directly reflecting on their spends. Unlike earlier, individuals today have ample time and money to spend on upskilling options, which otherwise, was parked for a later date. upGrad has seen a big behavioral shift in the mindset of parents too towards learning online, as they have seen their kids benefiting from it in real-time. This is one of the major drivers that has created a massive demand for our specialised online programs, which not only enhances the domain knowledge, revise skill sets, etc. but also help professionals achieve desired career outcomes.” All brands voiced their confidence that the worst has passed, and the markets will only move towards normalcy hereon.

Festive Marketing: Brands are optimistic that improving consumer sentiments will help them bounce back and bring in profitability

<ul><li>Other than IT, telecom and healthcare sectors also witnessed a notable decline in hiring in October this year as compared to last year. </li><li>The insurance sector saw a phenomenal year-on-year growth in hiring at 93% this <keyword id="36208" type="General" weightage="20" keywordseo="festive-season" source="Orion">festive season</keyword>. </li><li>The growth graph for hiring in the national capital was found to be flat as compared to last year.</li></ul>The slowdown is real in India’s information technology industry. The sector, which created the maximum jobs over the last two years, is seeing a hiring slowdown now. According to the <keyword id="15405162" type="General" weightage="20" keywordseo="Naukri-Jobspeak-index-report" source="Orion">Naukri Jobspeak index report</keyword>, hiring was down 18% this festive season in October as compared to last year. Bangalore, the IT hub of India saw the maximum drop in hiring at 16% in the <keyword id="46964" type="General" weightage="20" keywordseo="IT-sector" source="Orion">IT sector</keyword> this October, as compared to the same month last year. A similar trend was seen in Hyderabad (12%) and Pune (11%) during the same period. IT majors in India have cut down in hiring by at least <a href="https://www.businessinsider.in/business/news/amid-risks-of-a-slowdown-these-it-companies-are-best-placed-to-survive-the-storm/articleshow/95228871.cms">57% in the second quarter</a>. Wipro reported the maximum cut of 95%, followed by <keyword id="6357150" type="General" weightage="80" keywordseo="tcs" source="Orion">TCS</keyword> at 58%. This is in spite of the fact that attrition in the IT industry is high. <keyword id="6354512" type="General" weightage="80" keywordseo="infosys" source="Orion">Infosys</keyword> and HCL Tech witnessed the highest attrition rates at 27% and 23% respectively. <cmsannotation type="cmsannotation" annotationid="Telecom, healthcare hiring slowed down too" comment="subhead" text="Telecom, healthcare hiring slowed down too">Telecom, healthcare hiring slowed down too</cmsannotation> Other than IT, telecom and healthcare sectors also witnessed a notable decline in hiring sentiments by 19% and 13% respectively in October this year as compared to last year. “The temporary deceleration in hiring activity was expected given the festive season, however when you compare the data with last year’s festive window (Nov’21), the Index is a healthy 13% ahead which is reassuring,” said <keyword id="2554121" type="General" weightage="80" keywordseo="pawan-goyal" source="Orion">Pawan Goyal</keyword>, chief business officer, Naukri.com. In comparison, the insurance sector in India saw a phenomenal year-on-year growth in hiring at 93% this festive season. BFSI, oil, travel and hospitality, real estate and auto are some of the other sectors which continued to show upward hiring trends this season. “It is also interesting to note that most key industries maintained hiring expansion during this month which is likely to only get stronger as year-end approaches,” Goyal added. <cmsannotation type="cmsannotation" annotationid="Delhi stayed flat in hiring" comment="subhead" text="Delhi stayed flat in hiring">Delhi stayed flat in hiring</cmsannotation> The growth graph for hiring activity in the national capital was found to be flat this festive season as compared to last year’s. Whereas, other metros like Mumbai and Kolkata continued to grow by 8% and 15% respectively. Amongst non-metros, cities like Jaipur, Kochi, Vadodara, and Coimbatore saw an uptick in demand for white collared professionals, says the report. While demand across experienced professionals stayed neutral in October this year, senior professionals with over 13 years of experience saw an uptick in demand growing by 6% over last year. Meanwhile, demand for freshers stayed flat and demand for mid-level professionals (4-12 years) declined by 4%. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/amid-risks-of-a-slowdown-these-it-companies-are-best-placed-to-survive-the-storm/articleshow/95228871.cms">Amid risks of a slowdown, these IT companies are best placed to survive the storm</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/more-indians-are-interested-in-buying-products-have-a-dating-experience-in-the-metaverse-report/articleshow/95232293.cms">More Indians are interested in buying products, have a dating experience in the Metaverse: Report</a>

Hiring slowed down in the IT sector this festive season: Report

This Diwali season is proving to be lucky for leading brick and mortar retailers, as they are seeing double-digit surge in their same-store sales. This has happened despite the big discount sales that top online rivals rolled out last month. This has hinted at a sharp u-turn from last year's trend when we saw physical stores reporting subdued demand because of customers’ growing fondness fro e-commerce players. 
 The retailers that have seen good sales count in big names like Future Group, <keyword id="123895" type="PERSON" weightage="100" keywordseo="Arvind-Brands">Arvind Brands</keyword>, <keyword id="64373" type="CITY" weightage="100" keywordseo="Shoppers-Stop">Shoppers Stop</keyword>, <keyword id="182667" type="COMPANY" weightage="100" keywordseo="Vijay-Sales">Vijay Sales</keyword>, <keyword id="138873" type="COMPANY" weightage="100" keywordseo="Puma">Puma</keyword> and <keyword id="26842" type="PERSON" weightage="100" keywordseo="Max">Max</keyword>. all these names have reported floating demand for their products in the past two weeks. 
 
Future Group, which is country's largest retailer, is reportedly all set to grow its business by 25 to 30% this Diwali season. Retailers have attributed the rise in demand for their products to fresh merchandise, fewer discounted merchandise of big brands on online portals, and early onset of winter chill in some parts of the country. 
 
"With fewer discounts by ecommerce and new season merchandise offered by physical retailers, we are seeing same-store sales growth of 8-15%," said J Suresh, chief executive at Arvind Lifestyle Brands, which sells brands such as Gap, US Polo, Wrangler and Calvin Klein. 
 
Last year, e-commerce giants Flipkart, Amazon and Snapdeal pursued an aggressive discounting policy during the festive season, which helped them gain market share and traffic. This in turn left an impact on the demand in physical stores; this forced traditional retailers to approach the government over what they said was predatory pricing. 
 
What has come out of this trend is the fact that e-commerce players and brick and mortar retailers can coexist in the market, without necessarily harming each other. 
 
Govind Shrikhande, Managing Director at the country's largest department store chain Shoppers Stop, stated that the "huge gap" between end of season sales in August and Diwali has also helped the surge in demand. 
 
A survey by global research firm Ipsos reported that nearly 81% consumers prefer to buy from physical stores during festive seasons rather than from online companies, no matter the discounts. 
 
Indian festive season, which starts from Durga Puja and continues till Diwali season sees a quick upsurge in the consumer spending, because of financial issues taking a back step and festive emotions seeping in to the priority. 
 Industry insiders have said that big marketers like LG, Apple and Panasonic started their festive promotions much earlier than usual this year. This was done to ensure that their offline trade is not hit hard by <keyword id="1472817" type="UNKNOWN" weightage="100" keywordseo="online-discounts">online discounts</keyword>. 
 
Meanwhile, e-commerce majors have started to consolidate their business with a significant increase in the number of vendors and product categories. With more and more people taking to online shopping through mobile apps, this has helped in the expansion of the overall market. 
 
<a href="http://www.rochelleallison.com/wp-content/uploads/2011/01/real-estate-property-sales-increase.jpg">Image source</a>

For retail shops, Christmas came early!

<ul><li>The <keyword id="36208" type="General" weightage="20" keywordseo="festive-season" source="Orion">festive season</keyword> has always been important to brands, especially to e-commerce players who line up big bumper discounts, look for more retail brands to partner and ramp up their product offerings.</li><li>This festive season, e-commerce platforms are focusing on bringing more personalisation and curation to customers shopping online through greater tech and marketing integration.</li><li>More and more e-commerce platforms are also exploring social commerce, turning their apps into super apps by bringing content, products and trends under one roof for consumers to watch and shop at once.</li><li>With increasing internet penetration, e-commerce players are expecting new growth from Tier II, III and beyond this festive, which will cumulatively contribute to $150 billion of e-commerce as per RedSeer Consulting’s report.</li><li>We speak to India’s leading e-commerce players to find out more about their festive plans and revival expectations.</li></ul>The year 2020 accelerated e-commerce industry, perhaps by a decade, revolutionising the way brands operate, run, and grow their businesses, as well as how consumers choose to shop and pay. In the initial months of the lockdown, businesses witnessed a clear shift in consumer behaviour. Historically offline shoppers also came online due to convenience and safety. Consumers are still hesitant to return to in-store shopping completely and audiences from Tier II and Tier III are also preferring to shop online. The pandemic has evidently caused an inflection point for e-commerce in the country. With the second-largest internet user base, India has emerged as one of the most prominent markets globally. Around 480 million people in India have access to the internet out of which 90 million are online shoppers, according to estimates from management consultancy RedSeer. Shoppers from India’s small towns and cities will cumulatively contribute to $150 billion of e-commerce GMV in the coming decade, until 2030, revealed RedSeer. <div type="image" title="redseer - ecomm report" msid="85901903" hostid="261"></div> After spending a glum year and a half, consumers are excited to celebrate the festive season with upcoming shopping sales for Diwali, Dussehra and Christmas. IPL and ICC T-20 World Cup will further improve consumer sentiment this year. According to a survey conducted by The Trade Desk and YouGov, 82% of consumers shopped online at least once a month in the past six months, and nearly one in four made online purchases several times a week or more often. Titled ‘<a href="https://pages.thetradedesk.com/rs/527-INM-364/images/TheFestiveSeasonPulse2021.pdf">The Festive Season Pulse 2021</a>,’ it further said that 91% of Indian consumers are planning a purchase during the upcoming festive season and six in 10 are interested in learning about new brands during festive season sales. To leverage this uptick in consumer sentiment, the e-commerce category is all set to begin its festive marketing blitz and is preparing to line up big discounts for the season in a few weeks. For this 30-day period leading up to the festive season, leading fashion e-commerce platform <keyword id="319719" type="General" weightage="20" keywordseo="myntra" source="Orion">Myntra</keyword> has planned ‘Big Fashion Festival,’ which will be followed up with Myntra Diwali Sale, with a focus on ethnic wear. It will also be focusing on emerging categories like Beauty and Personal care, kidswear and categories such as innerwear and essentials which have experienced tailwinds post-Covid. Myntra’s Chief Business Officer, Ayyappan Rajagopal said, “We are expecting this festive season to be bigger than last year with more customers using online channels to make their purchases. Demand usually peaks in the 30 days leading to Diwali and we expect this year to be no different. In fact, the demand in the 2 months leading to the festive season is expected to be far more than last time (because people have learnt with time to adapt to a pandemic world). We expect high demand from across geographies and markets - metros, Tier 1, Tier 2, T3 cities and beyond. To cater to that, we have built the right ethnic wear, beauty, and home selection, and have partnered with brands on best deals. Hence, to leverage this demand and provide best value to our customers, we are organizing Big Fashion Festival and Myntra Diwali Sale to make this season a resounding success.” Right on the heels of the festive season, Myntra ramped up its marketing game by onboarding Hrithik Roshan, Vijay Deverakonda and Dulquer Salmaan as its newest brand ambassadors, alongside the existing celebrity ambassadors Kiara Advani, and Samantha Akkineni. Now, it is hoping to double its customer base and cater to Gen-Z shoppers with its high-decibel marketing. “With the optimism coming from recovery from Covid and revival in shopping sentiments along with the habitualisation of digital foray across all customer segments, we see a lot of new customers shopping during this festive season. We have also seen trends in Metro/T1 markets where Myntra has been traditionally strong, pointing towards such a revival. With a positive overall sentiment, we will be looking at doubling our customer base during this period. There will also be an added focus towards expanding our footprint in southern markets, deeper penetration into Tier 2 / 3 towns and exploring customer addition through emerging categories like Kids wear, Inner wear, fashion accessories, Beauty and persona care, etc. The greatest focus will be on Gen-Z cohort of shoppers,” shared Rajagopal. E-commerce platforms are also focusing on bringing more personalisation and curation to customers shopping online through greater tech and marketing integration. More and more e-retailers are exploring social commerce, turning their apps into super apps by bringing content, products and trends under one roof for consumers to watch and shop at once. D2C fashion platform Bewakoof.com that recently raised Rs 60 crore in an investment round led by InvestCorp, IvyCap and Spring Marketing Capital, is expecting to Rs 120 crore in brand sales this quarter. It recently rolled out celebrity-led digital campaigns with Rajkummar Rao, Sanya Malhotra and Farhan Akhtar. It plans to further build its market presence by signing more A-list celebrities to its roster and launch a 360-degree campaign by October. On the technology side, the company intends to launch a gamification-led loyalty program as it upgrades its Bewakoof Tribe with new and exclusive launches for the club members. Sharing the platform’s festive plans further, Prabhkiran Singh, Founder CEO, Bewakoof.com said, “Post pandemic, we saw a strong recovery and growth in certain categories like casual wear and leisurewear because of customers staying at home and with the pandemic slowing down, we expect a strong recovery in categories like ethnic wear, bags, accessories, etc in the festive season ahead. We’re also looking to capitalise on winter wear more this year than usual with winter around the corner and have put in investments accordingly. We expect our brand sales to be Rs 120 crore for the festive quarter.” For Bewakoof, the northern and western markets see the highest demand, followed by West Bengal and Assam because of Durga Puja. Currently, over 6 million customers visit Bewakoof.com every month. Singh told us that the festive season serves as a crucial window in the year for new customer acquisition and bringing back customers that haven’t shopped again for a while. The platform is also planning on increasing its marketing spends this festive. “For this year, 15% of our total marketing budget will be spent for the upcoming festive season.” We’re in the process of rebranding Bewakoof in the next 1-2 months and we’ll have a new look, logo, tagline along with a new set of celebrities that will endorse Bewakoof so we’re excited to roll this out and create buzz around it along with backing it up with top-funnel marketing investments. We plan to go heavy on top-funnel marketing investments starting October,” said Singh. E-retail platform OLX has upped its UI to woo its customers, digitising the entire process of online retailing, including verification of all its premium items. OLX Autos launched a verified inventory of cars with a new interface, which provides a detailed history of the car right from the ownership period all the way up to the service history of the car, and access to a host of financing options and after-sales products like insurance and warranty. As a result, OLX has witnessed a surge in demand for pre-owned cars. Sapna Arora, CMO, OLX India said, “Green shoots are already visible in the used car retail segment. The demand for pre-owned cars has been 25% higher than the pre-Covid levels while there has been an 82% plus growth in demand for pre-owned smartphones. Our goods category has also witnessed a strong rebound, as demand and supply have gone up by an average of 68% and 25%, respectively, compared to pre-Covid levels. The upcoming festival season is important for us as we expect the gap to be narrowing down between pre and post-Covid levels. There has been a strong uptake of e-commerce across regions, especially in Tier 2 and Tier 3 cities, with consumers there making the greatest shift to online shopping. We will continue to focus on the pre-owned auto segment and are expecting to surpass the demand this festive season.” At an industry level, Arora told us that e-commerce players are leveraging on hyper-personalisation to create individualised experiences on the platform and AI-powered chatbots are being implemented by the online retailers to bring customers close to an offline retail experience with a high engagement rate. Sharing OLX’s plan, Arora added, “This festive season we plan to use innovative solutions via relevant messaging at different levels of the retail journey. Our consumer base is growing organically. During this year’s lockdown, a lot of people moved online and we saw growth, about 30% more daily active users (DAUs) from our previous pre-Covid peak. In the festive season, our huge inventories across segments will contribute to increasing the DAU’s on the platform.” As per Nielsen India’s E-commerce Consumer Panel (E-Analytics Solution), there was a double-digit increase in average spend of online shoppers for electronics and accessories (39%), mobile and accessories (12%), and fashion, including apparel, footwear, and accessories (10%) after the pandemic. Appliances (e.g.TV, WM, refrigerators, etc.) also saw notable shopper spending increase at 9%. E-commerce giant Amazon is also ramping up its product range for the festive season. “Together with thousands of small &amp; medium business and brand partners, we continue to offer our customers the widest selection, convenience, and fast delivery. We are humbled by how millions of Indian customers have made us a part of their daily lives. Also, customers continue to believe that online shopping is the safest way to shop which has been reflecting in all the recent events of Amazon like Prime Day 2021, Great Freedom Festival, Rakhi Store, Onam store and so on. This festive season is not a normal one for reasons we all know and our success metric would be focused on how we can make our sellers successful. Customers can look forward to shopping from a wide selection of products across categories like Home &amp; Kitchen, Fashion &amp; Beauty, Appliances and Smartphones, Grocery essentials and more from the comfort and safety of their homes," said an Amazon India spokesperson. This growth trajectory of e-commerce platforms in India testifies how customers are increasingly recognising the importance of comfort shopping within closed doors, and after seeing their businesses take a plunge in the first three months of the lockdown, more and more sellers are also coming online.

This festive season, e-commerce platforms are betting big on Tier II and III markets, which are likely to contribute $150 million to e-commerce growth this year

<ul><li>Around 4,000 jobs were posted every day during the <keyword id="36208" type="General" weightage="20" keywordseo="festive-season" source="Orion">festive season</keyword> this year, says the <keyword id="198540" type="General" weightage="80" keywordseo="apna" source="Orion">Apna</keyword> report. </li><li>Cities including Mumbai, Bengaluru, Pune, Chennai and Indore witnessed a massive increase in the employer base. </li><li>Hospitality and beauty &amp; wellness industries witnessed a 65% growth in the number of employers this year as compared to the same period last year.</li></ul>The Covid-19-free festive season this year saw the creation of over two lakh jobs especially by the small and medium-sized businesses (<keyword id="417894" type="General" weightage="50" keywordseo="smbs" source="Orion">SMBs</keyword>) and micro, small and medium enterprises (MSMEs), according to a new report by jobs platform Apna. “Festive season is the time for Indian companies to hire professionals in order to maximise their business, creating a pool of opportunities for professionals across the industry. The season’s data reflects how the Indian economy is getting back on track,” said Manas Singh, chief business officer, Apna. The report further said that there was a massive increase in the number of employers looking out for the right talent pool across job roles like telecalling, <keyword id="6380915" type="General" weightage="50" keywordseo="bpo" source="Orion">BPO</keyword>, telesales, receptionist, front office, help desk admin and office assistants between September 1 to October 27 this year. Roles such as business development, telemarketing and sales also witnessed a growing demand in metro cities like Delhi-NCR, Mumbai and Bengaluru. In fact, during the festive season, on an average, 4,000 jobs were posted everyday, said the report. Cities including Mumbai, Bengaluru, Pune, Chennai and Indore witnessed a massive increase in the employer base during the festive season this year. <cmsannotation type="cmsannotation" annotationid="Sectors recording the most number of jobs" comment="subhead" text="Sectors recording the most number of jobs">Sectors recording the most number of jobs</cmsannotation> According to the report, the hospitality and beauty &amp; wellness industries witnessed a 65% growth in the number of employers this year as compared to the same period last year. The logistics and delivery industry recorded a 21% increase in the number of job applications during this period as the sector offered higher pay and better perks due to higher demand for professionals in the festive season. Delivery jobs were most popular in metro cities like Mumbai, Bengaluru and Delhi this season. E-commerce, food and hospitality sectors hired the maximum number of gig professionals this season. <keyword id="6358977" type="General" weightage="50" keywordseo="swiggy" source="Orion">Swiggy</keyword>, Zomato, Zepto, and Licious were the top recruiters during the season, the report added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/hardika-shah-is-the-founder-and-ceo-of-fintech-company-kinara-capital/slidelist/95200480.cms">A mother’s struggles as a kirana-store owner drove her daughter to help small biz owners access loans</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/hearts-from-covid-positive-donors-appear-safe-for-transplantation-study/articleshow/95202521.cms">Hearts from Covid-positive donors appear safe for transplantation: Study</a>

You Searched For "festive season demands" and got 10 results

Auto Industry sales to surge on the back of improved monsoon, festive season demands: Report

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The feast season in India is turning out to be less spicy

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E-commerce is expected to help seasonal hiring for gig roles surge by 20% this festival season: reports

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Luxury carmakers Mercedes, Audi, BMW expect robust sales this festive season

PTI

Festive Marketing: Brands are optimistic that improving consumer sentiments will help them bounce back and bring in profitability

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Hiring slowed down in the IT sector this festive season: Report

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For retail shops, Christmas came early!

BI India Bureau

This festive season, e-commerce platforms are betting big on Tier II and III markets, which are likely to contribute $150 million to e-commerce growth this year

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Over 2 lakh jobs created this festive season, says report

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