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Strong acceptance of e-commerce and digitisation is expected to accelerate the growth of India's auto sector, advisory firm Grant Thornton Bharat said. Accordingly, India's automobile market is estimated to grow more than '2.3X' from $222 billion currently to $512 billion by 2026. Notably, the analysis by Allied Market Research, Market Line, <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> and Grant Thornton Bharat showed that e-commerce portals focused on the automobile market, such as <keyword id="2947589" type="PERSON" weightage="20" keywordseo="Droom">Droom</keyword>, <keyword id="1945738" type="PERSON" weightage="20" keywordseo="Cardekho">Cardekho</keyword>, <keyword id="11077358" type="UNKNOWN" weightage="20" keywordseo="and-olx">and Olx</keyword> have put consumers and the user experience in the spotlight helping the manufacturers attract more users. Besides, the growing base of internet and smartphone users will further boost the digital transformation, and lead to an <keyword id="6374534" type="UNKNOWN" weightage="20" keywordseo="increase">increase</keyword> in expanding the market size of the e-commerce portals. "The strong emergence and acceptance of the online channel have provided an impetus to seamless solutions, price discovery, transparency, digital real-time payments along with certification on the quality of the vehicle for the consumers in the auto sector," said Rahul Kapur, Partner, Growth at Grant Thornton Bharat. According to the analysis report, since last year, Maruti Suzuki saw a five-fold increase in <keyword id="6357824" type="UNKNOWN" weightage="20" keywordseo="sales">sales</keyword> through digital means which now stand at 20 per cent of their total sales. "These changes in consumer's buying and research preferences signal a shift for the auto sector, as Covid19 played a big part in the online channel gaining traction." "Technology-enabled innovations like secure digital payments, hyper-logical logistics, analytics-driven customer engagement, increasing consumer awareness and digital advertisements are likely to support the growth going forward." As per the report, other factors such as rising middle class and young population with increasing disposable incomes will contribute towards growing the sector. Furthermore, ease of owning a vehicle through the availability of multiple financing options as well as reduction in vehicle ownership tenure due to regulatory rules in some states, cited the report as other growth inducing factors. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/nokia-x20-specifications-nokia-new-phones-price-in-india/articleshow/81981039.cms">Six new Nokia smartphones announced – price, specifications and availability details you should know</a> <a href="https://www.businessinsider.in/business/startups/news/founders-take-note-heres-why-most-startups-fail/articleshow/81981138.cms">Founders, take note: here’s why most startups fail</a> <a href="https://www.businessinsider.in/tech/apps/news/google-phone-app-now-lets-you-record-calls-automatically-from-unknown-numbers/articleshow/81982791.cms">Google Phone app now lets you record calls automatically from unknown numbers</a> <a href="https://www.businessinsider.in/business/startups/news/adar-poonawalla-serum-institute-of-india-has-bought-stake-policybazaar/articleshow/81985425.cms">Serum Institute of India buys into IPO-bound insurance unicorn PolicyBazaar, as True North sells part stake in secondary sale</a>

E-commerce and digitisation to accelerate India's auto sector growth, says report

<ul><li>The pandemic and lockdown period has brought many new learnings for all businesses, and e-commerce has undoubtedly been one of the sectors with the biggest takeaways.</li><li>As we enter a new year, we reached out to e-commerce platforms to understand what role it would play in 2022.</li></ul>The e-commerce segment has been witnessing a good growth over the last few years and has been showing no signs of slowing down in India. And why would it? Hasn’t shopping become so much easier now? We can buy anything, from groceries and perfumes to expensive jewellery, from the comfort of our homes. The pandemic further brought fundamental and long-term changes in the way people shop and make their purchase decisions. It has accelerated the industry’s growth in the country as historically offline shoppers also downloaded ecommerce apps onto their phones to shop from within the safety of their four walls. The past year and a half has brought millions of new e-commerce users, including from smaller cities and towns who now are comfortable with buying online. The industry has witnessed an uptick of 77% between 2020 and 2021 and Tier II, III cities are transacting more than ever, said a recent report by Bobble AI. This trend has pushed e-commerce platforms to embrace a wide range of regional brands and local sellers, which offer a compelling value proposition to consumers. With increasing internet penetration, e-commerce players are expecting new growth from Tier II, III and beyond, which will cumulatively contribute to $150 billion of e-commerce as per RedSeer Consulting’s report. The Indian market is expected to surpass the US to become the second-largest e-commerce market in the world by 2034, revealed another <a href="https://www.ibef.org/industry/ecommerce-presentation">report</a>. It is poised to reach US$99 billion by 2024 from US$30 billion in 2019, expanding at a 27% CAGR, with grocery and fashion becoming the key drivers of this incremental growth. As we enter a new year and e-commerce further expands its presence deeper into the country, we speak to a few e-commerce platforms to discuss what lies ahead, where would the second phase of growth come from and trends that would dominate the industry. Here’s what they had to say: <keyword id="1922572" type="General" weightage="20" keywordseo="manish-taneja" source="Orion">Manish Taneja</keyword>, Founder and CEO <keyword id="1688931" type="General" weightage="20" keywordseo="purplle-com" source="Orion">Purplle.com</keyword>: The year has witnessed major growth in the beauty ecommerce industry, ushering in the next year with great potential. In 2022, the emergence of virtual reality tools will fuel the industry. Offering virtual beauty experiences that seamlessly merge with an omni-channel approach will be the norm. Over the next year, we at Purplle will invest heavily in technology and data science advancements to further personalize customer experience. Natural, transparent beauty products, effortless shopping with shorter delivery times, data-based product development, and value-driven experiences, are some of the other trends that will emerge in 2022. Bharati Balakrishnan- Country Head and Director, Shopify India: The Indian ecommerce market will continue to evolve in 2022, with D2C brands taking centrestage, driven by growing consumer demand and local brands increasingly making ecommerce a priority. On the one hand, the new shopping habits formed over the past 18 months will become an important factor: consumers have embraced online shopping and are actively choosing small, independent brands. This means that D2C brands are here to stay, and we anticipate the emergence of a new generation of proudly Indian brands across food, fashion and lifestyle. Simultaneously, traditional brands and retailers who dominate offline are evolving to meet the demands of the new consumer - they are building to provide a consistent experience to their consumers across online and offline, and would like to use their own online stores to truly extend their brand promise to existing and new customers. It’s an exciting time to be a consumer brand in India Amit, CEO, <keyword id="9798181" type="General" weightage="20" keywordseo="olx-autos-india" source="Orion">OLX Autos India</keyword>: Rise of the prosumer: The many faces of personalisation With the majority of buyers now clearly preferring online shopping over the traditional format of in-store purchasing, the new trend is inclined towards the forward-thinking, influential and proactive prosumer. Personalisation of the products according to customers preference will be key in 2022. E-commerce marketers will need to integrate personalizing products through advanced technologies in order to provide tailor made and seamless customer experiences. In a cookie-less world, contextual marketing has reared its head in a big way. Targeting consumers has come of age - from category, to keyword, to semantic contextual targeting, now. Many more trends like crypto payments, and dynamic pricing will grow for pure-play retailers. But it is personalization for the prosumer that will chart the way forward. <keyword id="2227756" type="General" weightage="20" keywordseo="prabhkiran-singh" source="Orion">Prabhkiran Singh</keyword>, Founder CEO, Bewakoof: Live video commerce, Virtual trial rooms (or AR/VR driven fit assists), customized lifestyle products and 3D animated UX interactions are the key trends we expect to disrupt shopping experience in the coming year. Video or content commerce would be largely driven by influencer or user generated content. To drive scalability, there will be multiple SAAS companies launching solutions to simplify handshakes between brands and influencers in content acquisition, ingestion and performance driven payments space. Early movers in the space are Myntra Studio, <keyword id="8861782" type="General" weightage="20" keywordseo="trell" source="Orion">Trell</keyword> and Bewakoof Bshots. With large VC investments going into the Web 3.0 and metaverse space, a lot of the product cataloging problems around accurate sizing or fit assessment would become more trivial. We will see brands launching virtual trial rooms, 3D product shoots and fit assistants to bridge the gap between online and offline shopping experience. 3 out of 10 customers who shop on our platform would like to customize their product design and sizing. We see this as a growing trend that multiple brands will adhere to in the coming year. 3D and animated content will become a UX trend in the consumer internet industry. Animations used to be a hindrance to many designers and developers as they may slow the loading speed of websites or apps and it is data consuming. With 5G scaling up and 4G becoming a norm across the country, designers will chose to use more animations. Kashyap Vadapalli, Chief Marketing Officer &amp; Business Head, <keyword id="864887" type="General" weightage="20" keywordseo="pepperfry" source="Orion">Pepperfry</keyword>: ‘MarTech’, which essentially means amalgamation of marketing with technology, is the future of commerce where brands will run marketing in a digital and connected ecosystem to offer an immersive experience to their customers. With the advancement of technology in marketing, consumers are constantly looking for an enhanced buying experience. Thereby meaning, from 2022 onwards we will witness more technology integrated experiences like development of offline Virtual Reality shopping rooms for consumers. Since VR offers an immersive 360-degree perspective, products in virtual design, especially big-ticket items like furniture can be easily a luscious offering for customers who want an interactive experience with the product before making the decision, therefore, simplifying the buyer’s journey. Going forward, I believe, Martech will play a dominant role in the strategic priorities and investments of brands, pushing marketers to embrace digital operations and integrated customer experience. <keyword id="12792513" type="General" weightage="20" keywordseo="shubh-darpan" source="Orion">Shubh Darpan</keyword>, VP- BI &amp; Analytics, Cashify: From the trends we have seen over the past couple of years, we at Cashify believe that the demand for refurbished mobiles is here to stay. It started with the pandemic and subsequent lockdowns when having a mobile became a necessity. Refurbished devices such as smartphones, laptops, tablets, etc. were seen to be preferred by the Indian consumer. Mainly because of the economic aspect of it, the refurbished market has seen an upward motion in India. Moreover, with the shortage of chipsets, there have been fewer smartphone launches in recent times. This too has been a factor in pushing consumers towards refurbished mobiles. Refurbished smartphones offer an optimal and sustainable solution to today's tech-dependent world and we can see it going a long way. Gitanjali Saxena, Business Head - Global Luxury, Tata CLiQ Luxury <div type="image" title="Gitanjali Saxena, Business Head - Global Luxury, Tata CLiQ Luxury" msid="88446509" hostid="261"></div> Inherently, shopping is a social experience. As people continue to spend an increasing amount of time online and on social media, online shopping, which witnessed a huge boost because of the pandemic, is now also becoming social. Social shopping, which is already booming in countries like China, has been gaining momentum in India and will be a leading trend in the coming year. Engaging and immersive formats of selling, such as live commerce, will be at the forefront. In addition, AR and VR will play a crucial role in enhancing the online shopping experience, enabling more personalization, and targeting niche customers. Some of the biggest brands in the luxury fashion and beauty industries are working closely with social media platforms like Instagram and Snapchat to leverage their capabilities of live streaming, in-app shopping, and augmented reality to offer an experience that every luxury customer desires. Snapchat has harnessed the power of technology and introduced an augmented reality lens that allows for a virtual try-on of products. Convenience, personalization, and a sense of community are some of the drivers fuelling the growth of social shopping. The advancement of technology is unlocking a slew of exciting opportunities in social shopping, including user-generated content, virtual product try-ons, direct interaction with brands and peers, and instant gratification. E-commerce platforms will reimagine their strategy to integrate social shopping elements by introducing innovative and engaging formats to bolster their reach and engagement with customers. With social shopping, e-commerce platforms can revolutionize the way people shop on their platforms by presenting a new way of shopping.

Ecommerce: The trends to watch out for in 2022

<keyword id="141555" type="General" weightage="20" keywordseo="Securitisation" source="Orion">Securitisation</keyword> volume in <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> jumped 42 per cent on-year and past the Rs 1.15 lakh crore mark in the first nine months of this <keyword id="46627" type="General" weightage="20" keywordseo="fiscal" source="Orion">fiscal</keyword>, said credit rating agency CRISIL Ratings Ltd. According to CRISIL Ratings, the market activity in the quarter that ended December 2022 continued the momentum witnessed in April to September period. The activity was broad-based, with wider participation, as the number of originators crossed 120 compared with about 100 in the preceding fiscal. Among new originators in the securitised market were small finance banks that have increased their securitised issuances in recent quarters and added this mechanism as one of their routes to access incremental liquidity. Growth in the non-mortgage space was led by commercial vehicle (31 per cent) and microfinance (14 per cent) loans, CRISIL Ratings said. The credit rating agency said the unsecured loans, including personal and business loans, also continued to draw investor attention, comprising seven per cent of the securitised assets compared with three per cent in fiscal 2022. The share of property-backed loans, though, declined to about 38 per cent from about 43 per cent. Senior Director and Deputy Chief Ratings Officer <keyword id="198711" type="General" weightage="80" keywordseo="krishnan-sitaraman" source="Orion">Krishnan Sitaraman</keyword> said: "The securitisation market is continuing to regain its mojo post the pandemic, propped up by a resurgence in microfinance and increasing preference among investors for vehicle loans. Additionally, personal and business loans seem to be gaining greater acceptance, bringing diversity to the bouquet of asset classes being securitised." According to the report, direct assignment (DA) transactions accounted for 60 per cent of the nine-month transaction quantum with this route being utilised for the sell-down of most mortgage and gold loan pools. Correspondingly, the share of pass-through certificates (PTCs) was at 40 per cent, down marginally from 41 per cent a year ago. On the investor side, foreign banks and multinational institutions (about 14 per cent) were more active, given their preference for investing in PTCs backed by loans advanced to economically weaker sections. Private (53 per cent) and public sector (25 per cent) banks remained the largest investor groups, while the share of nonbanks remained low with mutual funds also making sporadic investments. The public sector banks have invested in PTC-backed pools comprising a vehicle, microfinance, and unsecured business loan receivables in recent quarters, the report said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/hdfc-bank-wipro-dmart-among-stocks-in-focus/articleshow/97018162.cms">Sensex, Nifty50 end lower led by losses in metals, auto, banks</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/paytm-payments-bank-gets-final-nod-from-rbi-to-operate-bharat-bill-payment-system-services/articleshow/97032913.cms">Paytm Payments Bank gets final nod from RBI to operate Bharat Bill Payment System services</a>

Securitisation volume in India jumps 42% past ₹1.15 lakh cr mark in 9MFY23: Crisil

Mumbai, Apr 23 () The Indian automobile industry, already dented by a protracted slowdown before the COVID-19 pandemic struck, is now staring at a severe and prolonged disruption due to domestic and global lockdowns and supply chain interruptions, a report said on Thursday. Currently, India sources 80-85 per cent of components for all vehicle segments domestically, mainly from clusters such as the National Capital Region (NCR, including Gurgaon, Manesar, Faridabad and Greater Noida), Pune (including Chakan, Talegaon and Ranjangaon) in Maharashtra, Mysuru in Karnataka, and Sriperumbudur and Hosur in Tamil Nadu. The rest is sourced through imports. "If rising COVID-19 infections lead to the lockdown being extended again in NCR and Pune clusters, there would be a material disruption in component supplies to vehicle makers - both sourced locally and imported," Ajay Srinivasan, director at rating agency Crisil Research, said. "Any extension of lockdown would dramatically increase the sourcing risk for products such as cast engine parts and transmission drives because major capacities are located in the Pune and Delhi-NCR belts. Passenger vehicles and two-wheelers will be particularly impacted since these two clusters are their major source of components," he added. According to Crisil, while tractors, which have medium-to-high dependence on NCR and Tamil Nadu, also face supply risk, the commercial vehicles are unlikely to be affected much because they source across clusters. As for imports, India is dependent on China for critical components such as electronic control chips, engine control units and sensors. If logistics between the two countries remains disrupted for longer, it may translate into higher procurement costs due to airlifting, the rating agency said in its report. Also, imports of engine components and drive transmission from the US and Germany are likely to be adversely impacted if manufacturing in these regions takes time to bounce back. For other components, there is a moderate dependence on imports. These include alloy wheels, which are mostly imported from countries in south-east Asia and China, it said, adding the two-wheeler players dependent on such imports could be affected. Going beyond these counts, logistics is also expected to cause some anxiety for vehicle makers, which mostly use the JNPT, Chennai and Mundra ports, and have about 95 per cent of goods transported from ports to manufacturing plants through roadways, according to the report. "Congestion following slower clearance of goods at ports stemming from labour shortage and lack of significant uptake in export volumes are expected to push up shipping freight rates, and also extend the turnaround times via road. This will drive up the cost for supply chains in the short term," said Hemal N Thakkar, associate director, Crisil Research. IAS ABMABM

Longer lockdown to badly hurt auto component clusters in NCR, Pune: Crisil Research

<ul><li>In our latest series, we talk to brands about how they have been marketing during these adverse times, the things they have learnt and how they are preparing for the somewhat uncertain future.</li><li>Sapna Arora, Chief Marketing Officer, OLX India shares with us her learnings of the lockdown period, the brand’s strategy to adapt to the constantly changing environment and action plan for <keyword id="9359618" type="UNKNOWN" weightage="20" keywordseo="unlock-2-0">unlock 2.0</keyword>. </li></ul>India is slowly getting back on its feet. However, brands can never revert to their old versions again. The lockdown period has taught our marketers too many lessons that can’t be unlearned. During this adverse period, the focus shifted from growing to survival, which made Indian brands grow conscious of where they spent their marketing bucks and pushed to relook and reinvent existing business models. OLX India’s Chief Marketing Officer, Sapna Arora told us how this period taught her the importance of using your own moral compass while communicating with your target audience. Even though the times were grave, the e-commerce brand used a little humour to laugh with its customers. Arora also walked us through OLX’s combat strategy which was in tandem with the government’s four lockdown phases and shared how it found a stable corner in a fluid environment. The transition started by taking a step back, observing the consumers for a while even if it meant being silent for that period -- to figure out the correct tone. It decided to opt for a reassuring, empathetic and humorous tone to walk along with its consumers. The second wave of communication was to spread a tad of positivity by reminding consumers they can make the most of their time even inside four walls. OLX’s Third and fourth phase of marketing was all about lending a hand in adjusting to the new normal, redefining the meaning of home and moving to a stage of acceptance and decluttering. As we enter unlock 2.0 phase, Arora further shares with us how consuming from the comfort of our homes will continue trending, why it is important to feel what your consumers are feeling and draft messages to resolve those concerns every time you communicate and everything else that OLX has planned for the new world order. Q. How have the last three months been for you? It has been a ride with a heady mix of chaos, assumptions, small wins and many learnings. While we were keen to continue to communicate with our user base, we spent some time figuring out the correct tone. We went ahead using our own moral compass of how we would like to be spoken to. As humans caught in this situation where currently all seemed normal, yet, danger lurked around. We communicated with our consumers in a low, reassuring, empathetic tone in order to assuage their anxiety. We did a second wave of communication around working with our consumers in helping them make sense of what was happening around. In some way, helping them resolve their emotions and steer them in a positive direction - hence we had a series of messages around what the consumers could do while they were stuck at home. There was no hard-sell of brand OLX. In a third wave, when we gathered that people had settled into a routine and come to terms with living in a lock-down, we wanted to help them get more comfortable with their living and working spaces. Hence the idea of decluttering. This is also when we talked of brand OLX. In the fourth way, we took the idea of decluttering further and helped the consumer with decluttering ideas around specific parts of their homes. Q. Have you observed consumer behaviour changing? With such a drastic change in lifestyle, there has definitely been a change in our behaviours as well. Some very defined trends have come up: Reliance on digital/ video based solutions: Instead of asking “Is there a reason to do this online?”, we are asking “Is there any good reason to do this in person?” Even local retailers are now offering ‘phygital’ stores and live-streaming as a concept has resurfaced again, back from the good-old days of ‘tele-shopping’ networks. A stark example of digital shift is seen in the auto industry. Even though it is a high ticket purchase, almost 70% of buying decisions are now taken online. Automobile brands are experimenting with new forms of content such as augmented reality, virtual reality and more. Similarly, in other categories too, brands will increasingly create digital touchpoints to move closer to their consumers and this will enable real-time conversations between both. Reduced discretionary spending and tendency to opt for affordable or alternative solutions hence propensity for pre-owned goods has been on the rise. People are increasingly wary of their expenses and have taken a conservative approach to the same. Consumers will weigh in their options before making a purchase and most of their purchases will be digitally-driven. This has translated into a strong growth for our pre-owned auto segment. Pre-owned cars are about 10%-50% cheaper than new cars hence as consumers look to up their hygiene quotient by shunning public transportation, pre-owned car demand has seen a multifold rise. Reframed meaning of home Spending extended periods of time at home has forced people to rethink their homes as spaces for working, relaxing and exercising, among other activities. Home takes on a whole new meaning as individuals and families figure out new ways to balance their work-life needs within the confines of their space. Going forward, we can expect setups at home that go far beyond a second screen. People will bring in special equipment, machines, and advanced video/audio setups to accommodate this change in lifestyle. Policies and new insurances will need to follow. Large packages are growing at an exponential rate, and we're going to continue to iterate in the space. Q. What are some things that you think will never be the same once we resume normalcy? Needless to say, some things will be forever impacted by the new habits that we have formed as consumers and the new innovations and pivots that corporations have subsequently made. Social distancing is here to stay for a long time to come at least until a vaccine is available. Humans by nature are social yet owing to social distancing there will be a marked reduction in the way consumers or brands interact with each other. Our entire societal ecosystem and relationships are built on trust which stems largely from in-person contact and communication and hence other ‘surrogates’ for trust would have to be developed. Consuming from the comfort of our homes is also a trend that will continue in a large way. These may include remote working and home shopping, which will drive opportunities for connectivity, distance learning, video conferencing, home office equipment, e-commerce, delivery services and the like. Travel is an area which will witness a profound impact as people would question if it's necessary to travel at all especially related to work. Only essential travel would be deemed suitable by users hence there would be decline in footfall in mass travel mediums and tourism related travel. Brands will increasingly grow conscious of their marketing spends and focus more on business continuity especially as more consumers move online and reinvention of business models for adapting the new normal will continue. Increasingly, we will see more brands come online and focus on the same as their primary marketing channels. Q. As markets open up, how are you ensuring that your consumers start trusting you? In the last 10 years, OLX has become synonymous with buying and selling anything online owing to which we have built a huge corpus of trust amongst consumers. As the markets open up, we have been advocating for the need to practice social distancing and practising right sanitization protocols for consumers via our marketing communication. On our retail front with <keyword id="8083535" type="COMPANY" weightage="20" keywordseo="olx-cashmycar">OLX CashMyCar</keyword>, we have resumed business as per government guidelines, across India albeit in a safe manner which would involve periodic sanitization of our retail centres and ensuring a safe and trustworthy retail experience for consumers. Our team members at our retail stores have been trained to follow the best possible sanitization protocols and adhering to the government guidelines to combat the spread of COVID-19. Additionally, we have also started home inspection services where we will offer inspection and procurement of the car for car sellers within the safe confines of their homes. Q. How do you see the e-comm sector shaping up? What would its future look like? Owing to the lockdown, e-commerce and online marketplaces has seen a boost. Once the lock-down ‘stabilized’ and ecommerce companies were in full swing, with the local physical stores being closed, there was an inevitable shift of consumers from offline to online. The pandemic has allowed buyers to throng to online marketplaces in order to cater to their needs. The transition is divided into three phases now, next and beyond, according to a recent report by EY. A quantum change will come when there is an increase in ecommerce sales in tier 2 and 3 towns, where digital consumption of content has increased but digital transactions are still low. Q. Has the current situation made you innovate and think out of the box, in terms of how you communicate with your consumers? Our communication has been driven by how we felt the consumers’ fears, anxiety, concerns, needs were playing on their minds during various phases of the lock-down. Our communication in India moved in four phases, almost in tandem with the phases of the central government’s lockdown. At the beginning, we advocated and educated our users on how to stay safe, keep their hygiene quotient up via creative communication tools such as images, gifs and videos. Across the second stage, we spoke about positivity and getting comfortable at home by using one’s time in activities such as reading, cooking, spiritual well-being etc. Subsequently, once consumers had settled into a routine and given our homes had become our sanctuaries, we spoke about decluttering and how it improves one's mental wellbeing. We did this sans any brand focus on OLX. The campaign centered around how decluttering could ameliorate the stress levels amongst users. Research has stated that a cluttered environment affects our efficiency and most households often have plenty of items they no longer use. By decluttering our environment, we are addressing how it helps alleviate accumulated levels of stress related to upkeep of the same. Thereafter, we gave specific decluttering tips, educating the user on how they could make the most out of the space and possessions they had. Additionally, we have also been focusing on highlighting positive stories around how consumers are using OLX to assist the most affected during COVID-19 via short films. We recently reached out to two lovely kids and their families on how they sold off their old toys on OLX to raise money for the PM cares fund. Marketing communication needs to be simple, positive and focus on giving hope to people amidst these testing times. Q. What does your media plan look like? Which medium gets your lion's share? As a digital-first brand, we have always had a major focus on digital media and ancillary focus traditional media. We have in the past leveraged traditional mediums such as television, OOH and radio. However, as digital usage has shot through the roof we have also been experimenting with new-age platforms. Right now, our focus is primarily on digital but we are not bound to the same. Prior to any campaign, we evaluate the best possible medium to reach out to the consumers and take a call on the same. Q. What are some of the key learnings from this experience? Key learnings are: <ul><li>Marketers should use their own moral compass in how they communicate with the consumer. </li><li>Keep the dialogue on - Brands should carry on communicating albeit in a sensitive manner.</li><li>Don't veer off track from your long term strategy - Even though the situation is extremely fluid brands shouldnt lose sight of their long term strategy. Brands should stick to their original purpose unless the circumstances have led to thought-through pivot in the business operations. </li></ul>

Marketers should use their own moral compass while communicating with consumers: Sapna Arora, OLX

Mumbai, Apr 28 () Auto sales are likely to remain muted as consumers may not flock to dealerships and even avoid shopping malls and markets due to the fear of coronavirus infection for an extended period post lockdown, a report said on Tuesday. The report by ratings agency Crisil Research projected that half of passengers vehicle sales and a third of two-wheeler volume are at risk due to the coronavirus-induced pandemic. Even if the nation-wide lockdown is lifted on May 3, resumption of normal operations at automobile dealerships would depend on whether a dealership is outside a demarcated hotspot and if it has the necessary licences from the state/ district administration to operate, the report noted. The Ministry of Home Affairs has allowed resumption of several activities from April 20, albeit by strictly adhering to social distancing norms. This covers manufacturing in industrial units, including automobile factories, under the purview of state/ district administration. In addition, the central government has directed state/ district administrations to calibrate the revocation of lockdown after demarcating districts as red (hotspots with high infection) and green (non-infected) zones. This implies that the sales outlets in red zones are likely to remain shut even if lockdown is lifted after May 3, the report said. According to Crisil, GDP growth is forecast to slow down to 1.8 per cent this fiscal, portending demand-side pressures and therefore sales of discretionary automobiles such as passenger vehicles and two-wheelers are likely to remain under pressure in the near-term. Crisil Research assessed the risk that two-wheeler and passenger vehicle industries face based on a two-factor framework – district-wise automobile sales concentration and the risk of spread of COVID-19, according to the report. "If a district that accounts for high sales of two-wheelers or passenger vehicles is also impacted severely by the pandemic, it poses a higher risk to overall industry sales," Crisil said. According to an analysis, top 100 districts account for 62 per cent of passenger vehicle sales in volume terms, with 41 per cent coming from the top 40 districts alone. In comparison, top 100 districts account for only 45 per cent two-wheeler sales and top 40 for 26 per cent, the report said. IAS MRMR

Auto sales may remain muted even after lockdown: Report

<ul><li>CRISIL cut the country’s growth estimates by 0.2% to 6.9% for the current financial year.</li><li>In 2017, the country clocked in an impressive 8.2% growth which was the fastest in the decade.</li><li>This year’s average corporate revenues were at 8%, lower than the double-digit growth seen in the last two years.</li></ul> Weak monsoons, sluggish auto sales and global cues are eating into India’s economic growth. Calling it a ‘triangulation’ of downside risks, rating agency CRISIL cut the country’s growth estimates by 0.2% to 6.9% for the current financial year. This year, India's growth might be less than the 14-year record average of 7%. Like <a href="https://www.businessinsider.in/Narendra-Modi-has-a-new-problem-big-corporates-and-moneybags-are-angry/articleshow/70450878.cms">many corporates</a>, the agency too is blaming the government. “Given the crosswinds, the sops announced so far might not be enough to pitchfork growth in this fiscal to, or above 7% per annum,” said Ashu Suyash, managing director of CRISIL said in a report on India, which was ominously titled - ‘Uphill Trek’. Just two years back, in 2017, the country clocked in an impressive 8.2% growth which was the fastest in the decade. This was followed by a cyclical downturn which came from policy initiatives along with <a href="https://www.businessinsider.in/the-only-thing-we-know-about-a-no-deal-with-china-is-that-it-would-be-terrible-for-the-worlds-economy/articleshow/70457337.cms">global trade disruption</a>. No loans, slow sales Indians are <a href="https://www.businessinsider.in/indias-consumer-confidence-has-taken-two-years-to-recover-from-demonetisation/articleshow/67896852.cms">consuming less</a>, which is affecting companies. This year’s average revenues were at 8%, which is starkly lower than the double-digit growth seen in the last two years. 
 <div type="Article" hostid="261" msid="70329099" title="Six Indian blue-chip companies have declared earnings so far - most of them lack the &amp;#39;markets mojo&amp;#39;" mstype="2" mssubtype="0"></div>



 Sales are also affected by crisis in the non-banking finance companies (NBFCs). As they are unable to access funding, they are also <a href="https://www.businessinsider.in/url-budget-2019-proposals-to-improve-market-liquidity-in-banks-nbfcs/articleshow/70090570.cms">disbursing less</a>, slowing down the growth engine. One of the many sectors affected by the lack of finance from shadow banks are automobiles. “Sales volume <a href="https://www.businessinsider.in/maruti-suzuki-july-sales-fall-by-33-5/articleshow/70477046.cms">in the automobiles sector</a> will be impacted by a trifecta – of spurt in costs due to changes in regulation, tightening liquidity, and moderating income growth. Somber farm incomes will also weigh on rural-led segments such as FMCG,” said Prasad Koparkar, Senior Director, CRISIL Research. Where do we go? The crucial question remains---can the government do something to change the falling fortunes? It sees that even if it helps stimulate the economy, it would either fall short and won’t last long either. “Given the fiscal constraints, public spending is unlikely to have the heft to pull growth above 7%. And some of the recent, and much-needed, reforms would pay off only over the medium term. There would, therefore, be some near-term onus on monetary policy to stimulate. But how effective that can be is the big question,” said Dharmakirti Joshi, Chief Economist, CRISIL. SEE ALSO: <a href="https://www.businessinsider.in/Narendra-Modi-has-a-new-problem-big-corporates-and-moneybags-are-angry/articleshow/70450878.cms">Narendra Modi has a new problem – big corporates and moneybags are angry</a>

India's economic growth this year may be less than the 14-year average
-- and the government is helpless

New Delhi, Feb 11 () Around 43-48 per cent of new three wheelers and up to 17 per cent of the new two wheelers sold in the country by 2024 could be electric vehicles (EVs), a report by Crisil Research said. In the four wheeler segment, however, the traction is expected to remain low with EV sales accounting for just 5 per cent of the new sales, it noted. The study looked at demand, supply and policy growth drivers for EVs such as battery costs, government subsidy and charging infrastructure, besides conducting a segment-wise analysis of the cost of acquisition and operation of EVs compared with existing internal combustion engine (ICE) vehicles, Crisil Research said. Faster adoption of two- and three-wheelers is a function of cost. Typically, electric scooters are cheaper to run compared with ICE scooters. And, e-autos are cheaper to both own and run compared with their ICE counterparts, it said. "In the context, supply will also be a critical factor for adoption. The top five electric two-wheeler manufacturers are expected to increase their capacity for electric variants from 0.4 million units in fiscal 2020 to over 3 million units by fiscal 2024," Crisil Research Director Hetal Gandhi said. In three-wheelers, even incumbent original equipment manufacturers are launching e-autos at a rapid pace, she added. At the other end, sales of personal electric cars will remain in the slow lane due to high acquisition and ownership costs in the absence of demand incentives, Crisil said. The number of cab aggregators though will increase as there will be a better operational economies and subsidies, it added. " "In the commercial vehicles space, subsidies to state transport undertakings will drive sales of electric buses for intra-city operations. That said, poor public charging infrastructure will impact adoption," Crisil Research added. MSS SHWSHW

Sales of electric two and three wheelers to see huge improvement by 2024: Crisil

<ul><li>OLX is planning to expand its offline used car business under the brand ‘<keyword id="7064533" type="UNKNOWN" weightage="20" keywordseo="Cash-My-Car">Cash My Car</keyword>,’ which will bring direct buying and selling of used cars. </li><li>The company is reportedly planning to set up 150 stores across 40 cities in India by 2021. </li><li>Currently, OLX has 27 stores operating in New Delhi, Gurgaon, Faridabad, Noida, Ghaziabad, Bangalore, Mumbai, Hyderabad, Pune, and Chennai.</li></ul>OLX, an Indian online marketplace for pre-owned goods, is making a big push into the used car business, with plans to <a href="https://www.livemint.com/Industry/pyhVH3xSZWF51dxLwH9RhJ/OLX-to-expand-used-car-business-offline-eyes-150-outlets-by.html">expand its operations</a>, opening up to 150 used car stores across 40 cities in India by 2021. The used ar business operates under the ‘OLX Cash My Car’ brand in collaboration with Germany Frontier Car Group (<keyword id="5821602" type="ORGANIZATION" weightage="20" keywordseo="FCG">FCG</keyword>). Currently, OLX has 27 stores that operate in New Delhi, Gurgaon, Faridabad, Noida, Ghaziabad, Bangalore, Mumbai, Hyderabad, Pune, and Chennai. OLX claims the new venture will speed up the entire process of selling a used car within 45 minutes, from inspection to online auction and payments. India’s used car market has witnessed a steady growth over the last few years from ₹385 billion in 2011 to ₹960 billion as of September 2018. The used car market may shoot up by 15% to touch ₹2,500 billion by 2021, according to an Economic Times<a href="https://economictimes.indiatimes.com/used-car-market-witnesses-steady-growth-as-new-car-sales-hit-a-speed-bump/articleshow/54382047.cms"> report</a>. This venture will operate under OLX Auto, which generates <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/with-german-company-fcg-in-tow-olx-goes-offline-for-used-car-trade/articleshow/66803652.cms">nearly 25%</a> of the overall revenue and is currently the largest revenue source for the company. OLX will directly own all the new stores, according to a Mint<a href="https://www.livemint.com/Industry/pyhVH3xSZWF51dxLwH9RhJ/OLX-to-expand-used-car-business-offline-eyes-150-outlets-by.html"> report.</a> Taking into account the growth rate of the used car business, which is 15%-16% annually, the company is expecting a steady rise in the offline business. SEE ALSO: <a href="https://www.businessinsider.in/The-11-new-cars-people-most-regularly-ditch-after-just-one-year-of-ownership/articleshow/66168880.cms">The 11 new cars people most regularly ditch after just one year of ownership</a> <a href="https://www.businessinsider.in/why-indian-automakers-saw-the-worst-festive-season-sales-in-november/articleshow/66748991.cms">Why Indian automakers saw the worst festive season sales in November</a>

Online marketplace OLX plans to open 150 ‘offline’ stores for buying and selling of used cars across India

<ul><li>At 7:45 am, SGX Nifty was down by 50 points, or 0.38%.</li><li>Here’s a list of <keyword id="73648" type="PERSON" weightage="20" keywordseo="Stocks-to-watch">stocks to watch</keyword> for in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a></li></ul>Indian stock markets could see a bounce back on Tuesday after the <a href="https://www.businessinsider.in/stock-market/news/sensex-sees-2-weeks-of-gain-wiped-out-in-half-a-day-plunges-by-over-1400-points/articleshow/79838339.cms">massive plunge on Monday</a>. At 7:45 am, SGX Nifty was down by 50 points, or 0.38%, suggesting that the Indian stock exchanges will have a tepid start to the day. This is at a time when <a href="https://www.businessinsider.in/stock-market/news/us-stocks-close-mixed-as-stimulus-optimism-clashes-with-new-virus-strain/articleshow/79895509.cms">US stocks had a mixed day</a> as stimulus optimism clashed with the new virus strain. The Dow Jones closed in the red, down by 0.67%, while S&amp;P 500 was down by 0.21%. These are the stocks to watch out for during the trading session today <keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> Infosys has announced a deal with German automotive giant Daimler AG. As part of the deal, Infosys will take over Daimler AG’s employees in Germany, the US and the Asia Pacific region. <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword> Wipro has announced a share buyback program which will open on December 29 and close on January 11. Additionally, the <a href="https://www.businessinsider.in/business/corporates/news/wipro-buys-the-it-operations-of-a-german-food-services-firm-for-700-million/articleshow/79909949.cms">IT company has also announced a deal with German multinational company Metro AG</a>. According to the ₹9,500 crore worth buyback offer, Wipro plans to purchase shares at ₹400 per share, which is 10% more than yesterday’s (Dec 22) closing price of ₹364, looking to mop up 23.75 crore shares from the market. Additionally, Wipro has signed a $700 million deal with Metro AG that will bring over 1,300 employees of the German company to Wipro. Mahindra &amp; Mahindra Mahindra’s South Korean subsidiary SsangYong Motor has filed for bankruptcy after failing to repay loans worth ₹680 crore. Jubilant FoodWorks The company has announced “The Unthinkable Pizza” based on plant protein. This comes after it had announced its foray into biryani (an Indian rice-based dish) that sent its stock soaring to a record high. <keyword id="6359783" type="ORGANIZATION" weightage="20" keywordseo="bajaj-auto">Bajaj Auto</keyword> Bajaj Auto has signed a memorandum of understanding (MoU) with the Maharashtra government to set up a manufacturing unit with an investment of ₹650 crore. Punjab National Bank State insurer Life Insurance Corporation of India has increased its stake in the bank from 4.12% to 7.73%. Majesco One of the hottest stocks in the news recently, it will be worth watching out for today as its promoter Ketan Mehta and others sold 10.5 lakh shares while Atul Limited acquired 2.14 shares. LT Foods The company received a boost in its ratings from CRISIL, who revised its outlook to ‘positive’ from ‘stable’. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/apple-rises-3-after-report-says-the-company-aims-to-produce-electric-cars-by-2024/articleshow/79872303.cms">Apple's market value grows by $102 billion after report says the company aims to produce electric cars by 2024</a> <a href="https://www.businessinsider.in/stock-market/news/us-stocks-close-mixed-as-stimulus-optimism-clashes-with-new-virus-strain/articleshow/79895509.cms">US stocks close mixed as stimulus optimism clashes with new virus strain</a> <a href="https://www.businessinsider.in/stock-market/news/billionaire-investor-sam-zell-questions-tesla-and-bitcoin-predicts-workers-will-return-to-offices-and-warns-the-us-dollar-could-be-replaced-as-the-worlds-reserve-currency-in-a-new-interview-here-are-the-15-best-quotes-/articleshow/79843473.cms">Billionaire investor Sam Zell questions Tesla and Bitcoin, predicts workers will return to offices, and warns the US dollar could be replaced as the world's reserve currency in a new interview. Here are the 15 best quotes.</a>

Top stocks to watch – Infosys, Wipro, Jubilant FoodWorks, Bajaj Auto, Majesco, and others

<ul><li>
	
Passenger vehicle sales in India have been on a downtrend for seven months now and June 2019 may be no different.</li><li>A research report released two days before the monthly auto sales data projects another month of falling car sales.</li><li>Tata Motors may be the worst hit with a 30% contraction in car sales among the listed car makers in India in June .</li></ul>Indian car makers have hit the worst patch in recent times. Passenger vehicle sales in India have been on a downtrend for seven months now and June 2019 may be no different. A research report released two days before the monthly auto sales data projects another month of falling car sales, ahead of the actual monthly automobile sales data that will be released on Monday (July 1). "Our channel checks suggest that footfalls have dried up and only those OEMs (original equipment manufacturers) who have launched new models recently are getting some response from customers, " Nirmal Bang Institutional Equities said. Tata Motors may be the worst hit with a 30% contraction in car sales among the listed car makers in India in June, according to the report followed by Maruti with a 11.6% slump while Mahindra and Mahindra seems better off than its peers with a 2.1% fall in passenger vehicle sales. 
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
 
 
 
 
 
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 Consumer sentiment has suffered due to cost increase amid strict safety regulations, delay in monsoon, rural stress, slowing economy and liquidity constraints are weighing down car sales. But stocks of Maruti and M&amp;M seem bored of falling as investors have rued the declining fortunes for quite sometime now. Maruti has lost 27% of its market value in the last one year, M&amp;M too has seen a similar loss in share price, while Tata Motors' stock has lost nearly 40% in the same period. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 Luxury car makers have had it even tougher. 2018 was a bad year and the outlook is no better for the next couple of years. "2019 is going to be a challenging year. The next two years is not going to be easy for the overall luxury segment. While I do believe that sentiment will change in the second half of the year, it does not mean there is going to be a major increase, unless there are any drastic changes, any crucial changes that are related, again, to structures of taxes and duties," Rahil Ansari, Managing Director of Audi India, told Business Insider earlier. Audi is planning to launch three new models this year, the R8, A8, and the Q8, in India. But, the German car maker is not expecting the cars to fly off the showroooms. Watch excerpts of the interview here: 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 Truck sales are flopping New norms for axle loads and a slowdown in the economy have reduced the demand for new commercial vehicles too. "Expect Ashok Leyland and Eicher Motors’ CV sales to also decline in double digits," Nirmal Bang said. 
	
	
	
	
	
	
	
	
	
	
 
 
 
 
 
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 The new axle-load norms rolled out in August 2018 allowed Indian trucks to carry about 20% more payload than earlier. Transporters re-registered their trucks with the Regional Transport Office to carry more stuff. This means there is a need for fewer trucks leading to an oversupply in the industry. Freight rates have plunged while diesel prices have gone up causing much pain for the transporters as well as truck makers, according to a recent report from Crisil. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 Both Ashok Leyland and Eicher Motors have lost nearly 32% in share price in the last one year while <keyword id="843125" type="PERSON" weightage="20" keywordseo="commercial-vehicle-sales">commercial vehicle sales</keyword> turned wobbly. For Tata Motors, it's a double whammy because both its cars and trucks are struggling. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 Other two-wheelers are skidding too but companies like Hero Motocorp, Bajaj Auto, and TVS Motor-- which largely focus on budget motorbikes with higher mileage-- are better off than the makers of cars and trucks but only slightly. The distress in rural economy has hit these manufacturers of budget motorbikes too. 
 
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
	
 
 
 
 
 
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 SEE ALSO: <a href="https://www.businessinsider.in/audi-e-tron-bookings-from-india-before-avengers-and-iron-man-drove-one/articleshow/69308189.cms?utm_source=contentofinterest&amp;utm_medium=text&amp;utm_campaign=cppst" data-type="tilCustomLink" target="_blank">India's passenger car sales decline sharply in April</a> <a href="https://www.businessinsider.in/indigo-spicejet-and-goair-airfares-soar-despite-empty-seats/articleshow/69684642.cms" data-type="tilCustomLink" target="_blank">Indian airlines have more empty seats these days but their profits are soaring like never before-- and no one seems to care</a> <a href="https://www.businessinsider.in/audi-e-tron-bookings-from-india-before-avengers-and-iron-man-drove-one/articleshow/69308189.cms" data-type="tilCustomLink" target="_blank">Audi claims it had to decline bookings for E-Tron from India even before Iron Man showed up in it</a>

Car makers in India may have more bad news to share on Monday

Mumbai, Jun 15 () A 5 per cent contraction in gross domestic product (GDP) during 2020-21 may lead to a 15 per cent fall in corporate India's revenues and poses an "existential threat" for small businesses, a report said on Monday. However, policy interventions by the Reserve Bank of India (RBI) and the finance ministry offer little hope because they cannot revive demand, which is crucial for the small businesses, the report said. The micro, small and medium enterprise (MSME) sector will have to face a sharper decline in revenues of up to 21 per cent, while operating profit margins will narrow to 4-5 per cent, said the research wing of domestic ratings agency Crisil. The agency expects a 5 per cent contraction in the economy because of the impact of the coronavirus pandemic, which has led to nearly three months of lockdown across the country with little steps at opening up lately. The government and the RBI have already announced actions like collateral-free loans of up to Rs 3 lakh crore to the segment since the onset of the crisis. "MSMEs face existential crisis, revenue to fall a fifth...a sharp decline at the operating level will also impact creditworthiness, aggravating the liquidity stretch these units have been grappling with, particularly on the working capital front," the agency said. It said there are gains to be made out of the lower commodity prices but the weak demand in the economy will ensure that the small business segment is unable to capitalise on those, it said. The average interest service coverage ratio could slide to 1-1.5 times from 2.4 times seen between the financial years 2016-17 and 2019-20, even after factoring in the benefit of moratorium on interest payments announced by the RBI, it said adding that without the moratorium, the ratio would have gone below one. The hardest hit will be the micro enterprise segment, which accounts for 32 per cent of the overall MSME debt, and are facing material stress in terms of revenue growth, operating profit margins and working capital stretch, it said. Drawing from precedents, it said previous downturns have shown that micro and small enterprises are unable to manage transient working capital challenges as easily as their large and medium peers. The policy interventions from the RBI and the finance ministry will help them tide over tapered cash flows, it said adding that the biggest concern is demand that needs to be revived for the betterment of this crucial sector. However, the report was not so optimistic on the policy interventions' ability to drive demand in the economy. "The current facilitations may not have the heft to crank up demand in the near term because fiscal stimulus is limited and only to vulnerable households," its Chief Operating Officer Amish Mehta said. "It is critical that the demand curve is yanked steeply northwards, especially in discretionary products and services," he added. He said a three-pronged strategy is essential now, which should include improvement in the sentiment around job security for formal and informal workers to boost consumption, hastening implementation of the Aatmanirbhar scheme to ensure flow of liquidity to MSMEs continues, and lenders going beyond traditional credit processes because they have to play a seminal role in recovery. From a sectoral perspective, it said consumer discretionary, construction, and export-linked ones will bear the brunt, while small real-estate contractors into EPC (engineering, procurement, construction) projects, and ceramics and textiles makers have been significantly impacted so their credit profiles are the most vulnerable. Revenue growth of MSMEs in the real estate EPC segment could almost halve with demand sliding even as rising costs, supply chain disruptions and labour issues exert severe pressure on margins, it added. Lower utilisation and partial absorption of BS-VI price hike could erode margins of auto-component MSMEs this financial year despite lower raw material prices, it said. The bigger companies are not expected to be impacted as much by the challenges, and the overall revenue growth will decline 15 per cent only while the operating profit margins will be down by a fourth, it said. AA HRS

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