Newsletter November 2023
Hello Reader,
As always, we are excited to share key trends shaping the industry and not-to-miss news highlights from the world of digital commerce.
This festival season witnessed a reinvigorated consumer sentiment where all major categories recorded higher revenue than last year's festival season. The B&PC category in particular has seen major growth driven by repeat purchases by buyers. Not to forget, in November a leading digital-first B&PC brand’s much-anticipated IPO was oversubscribed by 2%. And with over 35 lakh weddings in the coming months' fashion jewellery retailers are also betting big on setting new growth benchmarks for this sales season.
Over the last few months, we all shared the joy of India hosting a fabulous World Cup tournament. While the Aussies outplayed us in the finals, team India won the love of a billion hearts by staying unbeaten till the finals and playing like champions throughout. This World Cup brought about a significant boost in consumer spending which was estimated at around Rs 18,000-20,000 crore. From official jerseys to kits, the FICCI even predicted a 30% increase in the sale of merchandising during the World Cup with a 40-50% increase in footfall of food consumption, especially in the host cities.
Overall, the global headwinds are indicating a continuous growth of eCommerce dominance, with projections suggesting that the segment is on track to capture a substantial 41% share of global retail sales by 2027.
Industry Events
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Navin Joshua
Founder & Director, GreenHonchos
Middle East Retail & Ecommerce Summit 2023 by Scribe Minds & Media
Navin Joshua
Founder & Director, GreenHonchos
CLient additions
Retailers day out at Middle East Retail forum 2023
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GH Insights
Featured Story
Middle East Retail & Ecommerce Summit 2023: Shaping the Future of Middle East’s Retail & E-commerce
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