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Koovs.com pips Flipkart, Amazon in customer experience in India

Koovs.com pips Flipkart, Amazon in customer experience in India

IANS -
As Indians look for seamless, safe and personalised online shopping experiences in the social distancing times, online fashion site...
Increased home-baking in COVID times, spikes Hershey's sales of syrups, spreads & cocoa powder Chocolate maker Hershey India has witnessed a sharp increase in the sales of its grocery portfolio, which consists of syrups, spreads and cocoa powder, as home baking activities have gone up during the pandemic time, said a company official. According to a PTI report: The company, which looks India as a key focus market, is working on the transformation of its portfolio over the last three years and would continue to look for the growth opportunities here. "Sales of our Hershey's grocery portfolio (which is Syrups, Spreads and Cocoa Powder) in June was nearly double versus the average monthly run rate in the first quarter of this year, demonstrating that our business is now accelerating again. "So during the lockdown, families have been spending time together, they have been cooking at home and recent consumer trends also indicated that there's been a significant surge in people searching for home baking and cooking recipes," Hershey India Managing Director Herjit Bhalla told PTI. Besides, Hershey India has ramped up its capabilities on e-commerce during the COVID-19 times, which is a focus area of the company and also partnered with several food delivery apps such as Swiggy and Dunzo to deliver its products at consumers' doorsteps. "We have looked at the current situation as an opportunity to emerge stronger. We've looked at every spend pool across the value chain to challenge existing assumptions. This has helped us unlock savings and efficiencies in both cost and cash," said Bhalla. During the pandemic, the company has witnessed people buying in more volumes as the frequency of visiting stores has declined. Besides the value of the purchase has also gone up as consumer is spending more time in the kitchen and usage of grocery range has gone up. However, consumers are being cautious in their spending and are looking for more value-based offerings. "Its mix of things, they are cautious when stepping outside at the same time they are looking for better value, so they are focusing on larger pack sizes," he told PTI. According to Bhalla, the company is simplifying its demand planning, supply chain to be able to focus on specific requirements of the consumers. "So if consumers look for low-cost trial packs, we have them. Or if consumers look for larger premium packs, we have those as well. Everything that we are making, is largely produced in the country and it is tested and customised for an Indian consumer's palate," he further told PTI. Its three brands Hershey's, Sofit and Jolly Rancher has been growing at a CAGR of 30 percent for last three years. "We are focused on Hershey's, Sofit and Jolly Rancher and these focus brands, over the last 2-3 years have been delivering about 30 per cent growth and our focus is to sustain that as we go along," Bhalla told PTI. "If you really look at us, we are a fairly young business in India and we are still in our growth stage to really bring in our entire portfolio into the market." Earlier, in January this year, it had introduced chocolates which includes Hershey's Kisses, Hershey's bars and Hershey's Exotic Dark. "Our strategy, very clearly, is to continue focusing on building our business in India. India is one of our most important international markets and over the last 10 years we have created a stronghold in India with the Hershey's brand and some of the key categories being milkshakes, cocoa powder, all of these we hold leading positions and that has enabled us to build our chocolate portfolio in the country," he told PTI. On being asked about the expansion plans of Hershey for the Indian market, Bhalla said India is a key focus market for the global chocolate maker, where the company is focusing to build a strong brand and is committed to bringing its portfolio here. "For the Hershey Company, India is one of the most important focus in international markets. It is a market that we are committed to, in the long run. We have committed a US$ 50 million investment in the country at the end of 2017. Given the fact that Indians have a sweet tooth and market in India is big and growing, we are very confident of bringing in the portfolio and enabling our consumers to interact a lot more with the brand," he was quoted by PTI as saying.

Maternity clothing startup MomSoon eyes over 2-fold rise in sales this...

Indiaretailing Bureau -
Maternity clothing wear startup MomSoon is expecting an over two-fold rise in sales this fiscal as it plans to...

Fashion accessory brand Ceriz works to elevate the style quotient of...

Charu Lamba -
Accessorising has always been a very important part of fashion. Belts, bags, shoes and jewellery add incredible value to...
French fashion brand Ceriz launches first store in Mumbai

French fashion brand Ceriz launches first store in Mumbai

Indiaretailing Bureau -
Ceriz, the French high-fashion brand, said 'bonjour' to Mumbai by opening its first-ever store in the metropolitan city. The...

Fashion accessory brands step into bullish footwear category

IMAGES Business of Fashion -
At the recently re-launched Central at Ambience Mall, Vasant Kunj, Kishore Biyani, Chairman, Future Group, announced his company is...
Kishore Biyani-led Future Group to step up focus on footwear segment

Kishore Biyani-led Future Group to step up focus on footwear segment

Charu Lamba -
Kishore Biyani, Chairman, Future Group is planning to step up the group's focus on men’s footwear retail since the...
Future Lifestyle to buy 29.9 pc stake in Koovs for Rs 140 crore

Future Lifestyle to buy 29.9 pc stake in Koovs for Rs...

Indiaretailing Bureau -
Future Lifestyle Fashions, part of Kishore Biyani-led Future group, said it will acquire 29.9 percent stake in London-listed e-commerce...
Koovs to raise 23 mn pounds; expand presence in Indian e-commerce market

Koovs to raise 23 mn pounds; expand presence in Indian e-commerce...

Indiaretailing Bureau -
UK-based online fashion player Koovs plc is looking to raise about 22-23 million pounds this year to accelerate its...
Cover Story launches flagship store at Ambience Mall, Gurugram

Cover Story launches flagship store at Ambience Mall, Gurugram

Indiaretailing Bureau -
Cover Story, a fast fashion brand for women by Future Style Lab, has launched its flagship store at Ambience...
Leveraging exclusivity in fashion

7 ways in which fashion retailers leverage exclusivity

Indiaretailing Bureau -
For fashion retailers, the concept of exclusivity makes one of the most advantageous marketing opportunities. A recent research elaborates on...
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