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<keyword id="19923231" type="General" weightage="100" keywordseo="Air-India-Express" source="keywords" meta.keywordsubtype="org" meta.entityname="Air India Express" meta.hostid="261" meta.entityid="Air India Express">Air India Express</keyword>, part of the <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword>, is set to reconfigure its aircraft starting in April 2025 and will be focusing solely on <keyword id="23932064" type="General" weightage="20" keywordseo="economy-class-seating" source="keywords">economy class seating</keyword>, a PTI report says. This follows the merger of AIX Connect (formerly AirAsia India) with Air India Express on October 1, marking a major step in Tata’s broader consolidation of its airline operations. Currently operating a fleet of 90 aircraft, including Boeing 737s and A320s, Air India Express has plans to expand its reach, particularly to smaller cities and towns. The airline aims to simplify its fleet by eliminating <keyword id="21350335" type="General" weightage="20" keywordseo="business-class" source="keywords">business class</keyword> seats, opting instead for a uniform economy layout across its narrow-body planes. The decision comes as the airline faces supply chain challenges that have delayed the delivery of new aircraft. To bridge the gap, it has already inducted 35 white-tail Boeing 737-8 planes, with plans to add 15 more in the coming months. White-tail aircraft are planes originally manufactured for other carriers and later repurposed by Air India Express. These planes, often with varying business class configurations, will be reconfigured to fit the airline’s new model. The PTI report adds that by eliminating business class, the airline aims to better serve its core market—connecting <keyword id="20567886" type="General" weightage="20" keywordseo="Tier-2-and-Tier-3-cities" source="keywords">Tier 2 and Tier 3 cities</keyword> with major metropolitan hubs, while expanding its international network. In addition to strengthening its domestic routes, Air India Express plans to focus on regional international flights, particularly to destinations in the Gulf, Southeast Asia, and eventually South Asia. Air India Express’ network strategy is closely aligned with that of the larger Tata Group’s airline portfolio, which includes Air India, Vistara, and the recently merged AIX Connect. As part of this consolidation, Air India Express aims to meet growing demand for affordable travel between smaller towns and metros, a market segment identified as a key growth area. The move towards an economy-only fleet reflects broader industry trends, with many <keyword id="20314404" type="General" weightage="20" keywordseo="low-cost-carriers" source="keywords">low-cost carriers</keyword> focusing on streamlining operations to reduce costs and improve efficiency. Air India Express plans to increase its fleet to over 110 aircraft by the end of the financial year, with further additions expected in the future. (with PTI inputs)

Air India Express to bid adieu to business class seats next year, will turn into economy only airlines

Small and medium enterprises (<keyword id="20086849" type="General" weightage="20" keywordseo="SMEs" source="keywords">SMEs</keyword>) are driving a major surge in <keyword id="21881529" type="General" weightage="100" keywordseo="job-applications" source="keywords">job applications</keyword> across key sectors, with more than 35 million job applications recorded in the first eight months of 2024, according to a report by jobs and professional networking platform apna.co. The growth is fueled by rising demand in sectors like BFSI (Banking, Financial Services, and Insurance), BPO (Business Process Outsourcing), and hospitality. The report highlights that the surge in job applications is largely for roles such as Sales &amp; Marketing Managers, Accounting Technicians, Telecallers, Back Office Executives, and Business Development Associates. These positions are critical for the expansion of businesses in these sectors, and the growing demand reflects a strong upward trend in hiring. "SMBs and MSMEs employ more than 110 million people, making them the backbone of our economy. Their success is crucial for our nation's journey towards achieving a USD 5 trillion economy," said Nirmit Parikh, Founder &amp; CEO of apna.co. Parikh emphasised that the demand for skilled workers in these sectors is expected to continue growing, creating vast opportunities for <keyword id="20019820" type="General" weightage="20" keywordseo="job-seekers" source="keywords">job seekers</keyword> across India. <h2>Major growth in Tier-2 and Tier-3 cities</h2>An interesting trend noted in the report is that over 55% of the total job applications for SMB roles came from tier-2 and tier-3 cities, including Jaipur, Indore, Ahmedabad, Lucknow, Kochi, and Bhubaneswar. As businesses expand into these cities, the talent pool is evolving to meet the growing demand, fostering a symbiotic relationship between employers and job seekers. Out of the 35 million job applications received, 14 million came from women, marking a 30% year-on-year increase in female participation. Women are increasingly taking on roles across diverse fields like finance, accounts, marketing, and graphic design, reflecting their rising involvement in the workforce. As SMEs and MSMEs continue to grow, the <keyword id="19972727" type="General" weightage="20" keywordseo="employment-opportunities" source="keywords">employment opportunities</keyword> they generate are set to further contribute to India’s economic goals, fueling progress toward the USD 5 trillion economy target. (With inputs from PTI)

Small businesses generated 35 million job applications till Aug 2024, 14 million were from women: Report

More than 40 per cent of <keyword id="20081234" type="General" weightage="20" keywordseo="consumers" source="keywords">consumers</keyword> in Tier 3 to 6 cities use <keyword id="19994585" type="General" weightage="20" keywordseo="digital-payment" source="keywords">digital payment</keyword> on a daily basis, while 45 per cent claimed to use it once in two days, a new survey report has said. "This reflects the frequent usage of <keyword id="6358577" type="General" weightage="20" keywordseo="digital-payments" source="Orion">digital payments</keyword> by consumers, even in Tier 3 to 6 locations of the country," said a report by Chase India on The State of Digital Payments in India. The report identifies the key challenges faced by <keyword id="20442209" type="General" weightage="20" keywordseo="merchants" source="keywords">merchants</keyword> and consumers in the adoption of digital payment services at the grassroots level. According to the report, nearly half of the merchants who are not using digital payments in rural India are unaware of the service. In contrast, a staggering 94 per cent of consumers who are not using digital payments are aware of it but still don't use it, as they face issues like lack of internet connectivity, limited knowledge, mistrust in online payments and service-related problems. The report added that around 74 per cent of consumers claimed to be using digital payment services for a transaction a family member made. The report said around 41 per cent of merchants claimed to receive less than 25 per cent of their sales through digital payments, around 15 per cent of merchants claimed to receive over 50 per cent of their sales through digital payments. "This shows the potential left to be tapped with respect to increasing the usage of digital payments at the grassroots level," the report said. A total of 2,240 respondents were surveyed for the report, including 1,184 consumers and 1,056 merchants, spread across 16 districts, covering eight states in different geographic zones of the country. The report also said that lack of awareness about digital payments was a crucial finding. Around 46 per cent of merchants had never used digital payments because they were unaware of it. The survey revealed that, on average, around 36 per cent of merchants claimed to be processing over 50 digital payment transactions every month. Also, around 23 per cent of merchants claimed to be processing not more than 1 digital payment transaction every alternate day. Most merchants process digital payment transactions of less than Rs 15,000 every month. Only a handful of merchants claimed to process digital payments of over Rs 1 lakh. The main challenges that hinder the adoption of digital payments were inadequate infrastructure, service-related issues, capacity constraints and lack of trust in digital Payments, it said. "KYC is a vital step in onboarding merchants for using digital payments services. However, the survey discovered that nearly one in three merchants faced difficulties in completing the KYC process due to a lack of requisite documents, capacity constraints and the time taken for onboarding, among other reasons," the report said. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-to-be-launched-on-september-9-heres-everything-we-know-so-far/articleshow/112828818.cms">Apple iPhone 16 to be launched on September 9 – here’s everything we know so far</a> <a href="https://www.businessinsider.in/stock-market/news/a-company-with-8-employees-looking-to-raise-12-crore-ended-up-getting-applications-worth-over-4700-crore/articleshow/112824522.cms">Delhi firm with just 8 employees seeks ₹12 crore via IPO, gets ₹4,700 crore worth of investor applications!</a> <a href="https://www.businessinsider.in/tech/news/telegram-comes-under-the-scanner-in-india-for-extortion-and-gambling-will-it-be-banned-in-india/articleshow/112807370.cms">Telegram comes under the scanner in India for extortion and gambling – will it be banned in India?</a>

Over 40% consumers use digital payment every day in Tier 3-6 cities: Report

Domestic firms will <keyword id="6356112" type="General" weightage="100" keywordseo="lease" source="Orion">lease</keyword> an estimated 60-65 million square feet of <keyword id="181150" type="General" weightage="20" keywordseo="office-space" source="Orion">office space</keyword> between 2024 and 2025, according to <keyword id="20060150" type="General" weightage="20" keywordseo="cbre" source="keywords">CBRE</keyword> South Asia's report, '<keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> Inc's Ascension - The Rise of Domestic Firms as an Office Demand Driver'. Domestic companies have been responsible for nearly 47 per cent of office leasing activity from 2022 to H1 2024, marking a departure from the traditional dominance of global corporations, particularly American firms. During 2022-2023, domestic firms experienced a 60 per cent surge in office space absorption compared to the pre-pandemic period of 2018-2019. Key occupier groups have secured significant spaces in prime locations across major cities, with <keyword id="19913115" type="General" weightage="20" keywordseo="delhi-ncr" source="keywords">Delhi-NCR</keyword> leading, followed by <keyword id="6354321" type="General" weightage="20" keywordseo="bengaluru" source="Orion">Bengaluru</keyword> and Mumbai. E-commerce and life sciences companies have driven occupancy in Bengaluru and Hyderabad, respectively, while Mumbai has captured a substantial 43 per cent share of domestic <keyword id="19910880" type="General" weightage="20" keywordseo="bfsi" source="keywords">BFSI</keyword> leasing, with strong contributions from Delhi-NCR and Chennai. The report attributes the robust growth of India's office market to several factors, including government initiatives like Make in India and the <keyword id="19952889" type="General" weightage="20" keywordseo="production-linked-incentive" source="keywords">Production Linked Incentive</keyword> (PLI) Scheme. These programs, along with increased domestic manufacturing, employment generation, and a well-capitalized banking sector, have created a supportive environment for business expansion. Other contributing factors include low corporate leverage ratios and improved access to capital, which have enhanced the investment capacity of Indian companies. India's talent pool, with approximately 2.5 million STEM graduates and a thriving start-up ecosystem featuring over 100 unicorns, has also been a major driver of growth. With over 38 sector skill councils, the government's focus on bridging the skill gap is preparing domestic firms for future demands, further bolstering the office leasing sector. Flexible space operators, technology, and BFSI sectors have emerged as the primary drivers of office leasing, collectively accounting for two-thirds of all domestic activity. The RCA sector, which includes legal, taxation, HR, and media services, is also playing a significant role in boosting domestic leasing. Additionally, Indian engineering and manufacturing firms, which currently represent 7-8 per cent of domestic office leasing, are expected to expand into <keyword id="20270212" type="General" weightage="20" keywordseo="tier-ii" source="keywords">Tier-II</keyword> and Tier-III cities, which are emerging as manufacturing hubs. Anshuman Magazine, Chairman and CEO, India, Southeast Asia, Middle East &amp; Africa, CBRE, said, "India's rapidly expanding start-up ecosystem and talent abundance are major drivers of this demand. As India's major urban centers continue to grow and diversify, the demand for premium office spaces will shape the future of the commercial real estate market, setting new standards for innovation and excellence. He added, "India's top nine cities are poised to see an impressive addition of ~185 million sq. ft. of premium office space by 2026. This dramatic increase in office space is a testament to several key factors driving the transformation of the commercial real estate landscape". Ram Chandnani, Managing Director, Advisory and Transaction Services, CBRE India, said, "Advances in technology, especially artificial intelligence (AI), are poised to further transform the office sector. While AI may cause job displacement in some areas, it will also create new opportunities and necessitate comprehensive workforce reskilling. The surge in workforce needs, driven by digitalization, evolving workplace strategies, and enhanced business confidence, has substantially boosted leasing activity."

Domestic firms to lease 60-65 million sq ft office space by 2025: CBRE report

<ul><li>As many as 35 major retail brands set up shop in 14 tier-2 cities between Jan-Sep 2023.</li><li>E-commerce boom, tech-savvy consumers, growing aspirations drive growth in tier-2 cities.</li><li>The total retail stock in top tier-2 cities stood at 29 million square feet, as of September 2023. </li></ul>Last year, H&amp;M opened its store in Ranchi, GAP too opened its doors to Guwahati; and Rare Rabbit did the same in Kochi. It’s not just top apparel chains that are going deeper into Bharat, fine dining restaurants like Royal Train Cuisine too have set up shop in Lucknow and Wow chain is wooing Chandigarh. In summation, as many as 35 major retail brands expanded their footprint to 14 tier-2 cities between January to September 2023, says a report by real estate services and investment firm CBRE. This flurry of activity has triggered a retail space boom in 14 cities that include Chandigarh, Jaipur, Indore, Goa, Mangalore, Kochi, Lucknow, Patna, Ranchi, Guwahati, Bhubaneshwar, Vizag, Mysore, and Coimbatore. Chains like Armani Exchange, Malabar Gold &amp; Diamonds, Tanishq, Marks &amp; Spencer, Starbucks, Pizza Express, Under Armour are now catering to a growing set of consumers in these cities. “Domestic and international fashion brands are looking to expand in non-metro cities, fueled by a well-aware and well-travelled consumer set,” said <keyword id="20208672" type="General" weightage="20" keywordseo="ram-chandnani" source="keywords">Ram Chandnani</keyword>, MD, advisory &amp; transactions services of CBRE India. Changing consumption patterns are affecting the retail dynamics in these cities, the report says. E-commerce trends also point to a highly-aspiring consumer base in these cities, which has brought in an influx of quality retail supply. “A striking example of evolving consumer patterns in these cities is the fact that 50% of online urban shoppers were residing in these tier-2 and tier-3 cities. A percentage that’s projected to reach nearly 60% by 2030,” the report adds. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">City </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">New retail brand entrants in Jan-Sep 2023 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chandigarh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dayal Opticals, Khan Chacha, Wow Momos, Wow China, Rare Rabbit </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jaipur </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tasva, Under Armour, Mango, Rare Rabbit </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lucknow </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">The Sleep Company, Pizza Express, Theobroma, Royal Train Cuisine </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Patna </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Croma </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tasva, Style Up </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Goa </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Armani Exchange </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kochi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Campus, La Pino’z Pizza, Bluestone, Tasva, Rare Rabbit </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coimbatore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Taneira, The Sleep Company, Style Union </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Visakhapatnam </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Starbucks, Taco Bell, Being Human </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mysore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Croma, Tanishq, Fashion Factory, Bluestone </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mangalore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Smart, Malabar Gold &amp; Diamonds, BlueStone, Tasva, R&amp;B </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Guwahati </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GAP, Zudio, Croma, Forever 21 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ranchi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">H&amp;M, Marks &amp; Spencer, Max, Homecentre </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bhubaneswar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zudio, Marks &amp; Spencer </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: CBRE The mall &amp; high-street boom As high-end retailers make a beeline for tier-2 city business, the retail developments in the cities also picked up pace. The total retail stock in these 14 cities stood at 29 million square feet, as of September 2023. Amongst them, Jaipur, Lucknow, and Chandigarh each boast retail stock ranging between 3-7 million square feet. In the three months between July and September 2023, around 2.4 million square feet was added in the 14 cities. Most of it was added in Chandigarh, Jaipur and Lucknow. Also, a similar amount – again 2.4 million square feet – was absorbed across these cities, led by Kochi, Jaipur, and Goa. “The e-commerce boom, tech-savvy consumer base, growing aspirations and surge in discretionary purchasing are defining the retail growth in tier-II cities. Most non-metro cities are established trade and business hubs and are now witnessing multinational corporations and start-ups setting up offices as well,” said Anshuman Magazine, chairman &amp; CEO, India, Southeast Asia, Middle East &amp; Africa of CBRE. The retail developments have a healthy mix of malls and high streets. But, they too are evolving from vanilla stores in high-streets to malls by top-end developers. A lot of high-end malls have also come up in recent times like Nexus Elante Mall in Chandigarh; World Trade Park Mall in Jaipur; DLF Mall in Panjim and more. “Investment-grade developers are setting up large-sized contemporary malls in these cities, which are seen as an entertainment destination and not just as a place to shop,” adds Magazine. SEE ALSO <a href="https://www.businessinsider.in/business/news/the-rising-affluence-of-small-town-consumers-driving-demand-for-premium-products/articleshow/103918026.cms">The rising affluence of small town consumers driving demand for premium products</a>

Big brands, chain stores boost retail developments in tier-2 cities

<ul><li>Total absorption witnessed in <keyword id="6730905" type="General" weightage="20" keywordseo="Tier-1-cities" source="Orion">tier-1 cities</keyword> was at 4.53 lakh units as against 1.83 lakh units in tier 2 cities in 2022. </li><li>New launches in metros stood at 3.71 lakh units while it was 1.52 lakh units in tier-2 cities. </li><li>2022 witnessed the highest launches and absorption in the last eight years. </li></ul>The sales of <keyword id="6393792" type="General" weightage="20" keywordseo="residential" source="Orion">residential</keyword> property in tier-1 cities in the country stood at more than 250% of the levels seen among tier-2 cities in 2022. The total absorption witnessed in tier-1 cities was at 4.53 lakh units as against 1.83 lakh units in tier-2 cities, according to a report by real estate consultancy, <keyword id="226991" type="General" weightage="20" keywordseo="propequity" source="Orion">PropEquity</keyword>. Even in terms of new launches of residential property, tier 1 cities outperformed the tier 2 cities by more than 240% in 2022. The new launches seen in metros were at 3.71 lakh units while it was 1.52 lakh units in the latter. “This disproportion in metros and tier 2 cities is due to employment opportunities, better infrastructure with better standard of living in tier 1 cities. Regardless of the size of the real estate industry in the two categories of cities, there are very positive developments and all round growth of the property market across the country where more and more people are finding a home of their choice and within their budgets,” says Samir Jasuja, founder and MD of PropEquity. Interestingly, 2022 witnessed the highest launches and absorption in the last eight years. Absorption crossed 4.5 lakhs residential units with only 3.7 lakhs new supply added in the same period. Inventory overhang is at all-time low with only 12 months of inventory left in top tier 1 cities in <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>. This gap in inventory will encourage developers to launch new projects in the coming quarters to cater to the existing demand. In all, 2022 witnessed maximum residential property sales in the last eight years, with total absorption increasing by 28% year-on-year. These higher sales were a result of multiple factors such as increased confidence of consumers on hard assets compared to volatile assets post-Covid, and lower repo rates of 4% in the first half of the year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/consistent-with-dignity-socially-acceptable-sc-mulls-panel-to-examine-less-painful-method-of-execution/articleshow/98862566.cms">'Consistent with dignity, socially acceptable', SC mulls panel to examine less painful method of execution</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/co-infection-with-superbug-spikes-covid-virus-replication-by-15-fold/articleshow/98866674.cms">Co-infection with 'superbug' spikes Covid virus replication by 15-fold</a>

Tier-1 cities’ home sales is 2x of what it’s in tier-2 cities: PropEquity

<ul><li>Mass consumers focus on prices, deals and discounts as compared to delivery speed.</li><li>Apart from electronics, consumers are also purchasing apparel, BPC and more online.</li><li>More e-comm consumers are expected to reside in tier 2 towns by 2030, says CBRE. </li></ul>Indian e-commerce is not just growing, it’s spreading across the country far and wide. It’s spreading geographically and across income groups. As e-commerce is more widely accepted, mass consumers will enter the system whose preferences are much different than the affluent consumers, says a report by <keyword id="20118142" type="General" weightage="20" keywordseo="bofa-securities" source="keywords">BofA Securities</keyword>. “Mass consumers have specific preferences which are different from premium and affluent consumers. They focus on prices, deals and discounts vs delivery speed, payment options, friendly consumer policies etc. This consumer cohort follows an explore-based shopping journey vs affluent customer base doing need-based shopping,” said the <keyword id="19960097" type="General" weightage="20" keywordseo="bofa" source="keywords">BofA</keyword> report. The growth in the mass e-com consumers is also happening parallelly to the boom seen in tier 2 customers. India’s top e-tailer <keyword id="19911893" type="General" weightage="20" keywordseo="meesho" source="keywords">Meesho</keyword> says that tier 1 cities and tier 2 markets are seeing the same amount of volume growth. “For Meesho, in pockets, tier 3 markets are growing faster than tier 1 and tier 2. There is also a mix shift happening in rural and semi urban India,” said the BofA report. A recent report by CBRE too said that the purchasing power of tier 2 cities like Chandigarh, Jaipur, Goa, Mangalore, Kochi etc has been growing so much that offline retailers are making a beeline for them. As of 2021, 50% of online urban shoppers were from tier 2 and tier 3 cities. This number is projected to reach 60% by 2030. “These e-commerce dynamics point towards the presence of a high aspiration consumer base,” the report said. Regular buying not just one-time buys The e-commerce purchase habits are also evolving. Apart from one-time purchases like electronics, home and kitchen goods, consumers are also increasingly purchasing high-frequency categories like fashion,apparel, beauty and personal care products along with jewelry and accessories. As per a Redseer consumer report released late 2023, 50% of festive season shoppers were looking to make purchases in fashion. “More than around 25% of these consumers are planning to purchase other low average selling prices like beauty and personal care and home and living,” the report said. This is also bringing in a change in the pricing dynamics of e-tailing. The average order value (<keyword id="20237201" type="General" weightage="20" keywordseo="aov" source="keywords">AOV</keyword>) for Meesho’s customer cohort has dipped by 10% in the last one year to ₹300-310. “Only 2-3% of this change came because of downtrading and majority was led by Meesho’s ability to price a product lower and led by category mix shift,” said BofA.

Mass ecomm consumers rise as tier-2,3 markets shop more online

India is a land of diverse cultures, rich history, and stunning landscapes. Each city has its unique charm and beauty, offering a different experience to its visitors. Here are ten of the most <keyword id="6481074" type="General" weightage="100" keywordseo="beautiful-cities-in-India" source="Orion">beautiful cities in India</keyword> you should consider visiting in 2024: <cmsannotation type="cmsannotation" annotationid="1. Jaipur, Rajasthan" comment="subhead" text="1. Jaipur, Rajasthan">1. <keyword id="19901640" type="General" weightage="20" keywordseo="Jaipur" source="keywords">Jaipur</keyword>, Rajasthan</cmsannotation> <div type="image" title="1" msid="110675080" hostid="261" sizebytes="2047771" caption="&amp;lt;p&amp;gt;Marvel at the grandeur of Amber Fort in the vibrant Pink City of Jaipur.&amp;lt;/p&amp;gt;"></div>Explore the Pink City of Jaipur, where the majestic Amber Fort, the royal City Palace, and the intricate Hawa Mahal create a tapestry of history and beauty. Get lost in the vibrant bazaars and savour the rich culture of Rajasthan. Best places to visit: Amber Fort: A stunning fort with intricate carvings and expansive courtyards. City Palace: A beautiful palace complex that reflects the rich heritage of Jaipur. Hawa Mahal: The "Palace of Winds," is known for its unique five-story facade with numerous windows. Best Time to Visit: October to March The weather is cooler and more pleasant, making it ideal for exploring the city's forts, palaces, and markets. <cmsannotation type="cmsannotation" annotationid="2. Varanasi, Uttar Pradesh" comment="subhead" text="2. Varanasi, Uttar Pradesh">2. <keyword id="19901642" type="General" weightage="20" keywordseo="Varanasi" source="keywords">Varanasi</keyword>, Uttar Pradesh</cmsannotation> <div type="image" title="2" msid="110675094" hostid="261" sizebytes="2195187" caption="&amp;lt;p&amp;gt;Experience the spiritual essence of Varanasi at the evening Ganga Aarti.&amp;lt;/p&amp;gt;"></div>Immerse yourself in the spiritual aura of Varanasi, one of the world's oldest living cities. Witness the mesmerizing Ganga Aarti, visit the revered Kashi Vishwanath Temple, and stroll along the historic ghats for a journey back in time. Best places to visit: Ganges River: Witness the evening Ganga Aarti, a beautiful ritual on the riverbanks. Kashi Vishwanath Temple: A major Hindu temple dedicated to Lord Shiva. Ghats: Explore the steps leading to the river, each with its own significance. Best Time to Visit: October to March The temperatures are moderate, making it comfortable to attend the Ganga Aarti and explore the temples and ghats. <cmsannotation type="cmsannotation" annotationid="3. Udaipur, Rajasthan" comment="subhead" text="3. Udaipur, Rajasthan">3. Udaipur, Rajasthan</cmsannotation> <div type="image" title="3" msid="110675098" hostid="261" sizebytes="2134036" caption="&amp;lt;p&amp;gt;Glide across the serene waters of Lake Pichola with the majestic City Palace in the background.&amp;lt;/p&amp;gt;"></div>Discover the romance of Udaipur, the City of Lakes. Glide across Lake Pichola, marvel at the opulent City Palace, and relax in the serene Saheliyon ki Bari gardens, all set against the backdrop of Rajasthan's stunning landscape. Best places to visit: Lake Pichola: Enjoy a boat ride with views of the City Palace and Jag Mandir. City Palace: An architectural marvel with stunning views of the lake. Saheliyon ki Bari: A beautiful garden with fountains and marble elephants. Best Time to Visit: September to March The post-monsoon period brings lush greenery, and the cooler weather is perfect for boat rides on Lake Pichola and visiting the City Palace. <cmsannotation type="cmsannotation" annotationid="4. Agra, Uttar Pradesh" comment="subhead" text="4. Agra, Uttar Pradesh">4. <keyword id="19940628" type="General" weightage="20" keywordseo="Agra" source="keywords">Agra</keyword>, Uttar Pradesh</cmsannotation> <div type="image" title="4" msid="110675104" hostid="261" sizebytes="1710343" caption="&amp;lt;p&amp;gt;Behold the timeless beauty of the Taj Mahal, a symbol of eternal love.&amp;lt;/p&amp;gt;"></div>Step into history in Agra, home to the breathtaking Taj Mahal. Explore the grandeur of Agra Fort, and enjoy the tranquil beauty of Mehtab Bagh with its perfect view of the Taj at sunset. Best places to visit: Taj Mahal: A symbol of love and one of the Seven Wonders of the World. Agra Fort: A UNESCO World Heritage site with impressive architecture. Mehtab Bagh: A garden offering a perfect view of the Taj Mahal at sunset. Best Time to Visit: November to March The climate is cooler, which is ideal for sightseeing at the Taj Mahal and Agra Fort without the sweltering heat of summer. <cmsannotation type="cmsannotation" annotationid="5. Bengaluru, Karnataka" comment="subhead" text="5. Bengaluru, Karnataka">5. Bengaluru, Karnataka</cmsannotation> <div type="image" title="5" msid="110675108" hostid="261" sizebytes="2263495" caption="&amp;lt;p&amp;gt;Stroll through the lush greenery of Lalbagh Botanical Garden in Bengaluru.&amp;lt;/p&amp;gt;"></div>Experience the blend of modernity and tradition in Bengaluru, the Garden City. Stroll through the lush Lalbagh Botanical Garden, admire the regal Bangalore Palace, and unwind in the expansive Cubbon Park. Best places to visit: Lalbagh Botanical Garden: Famous for its glass house and diverse flora. Bangalore Palace: Inspired by England's Windsor Castle. Cubbon Park: A large green space in the heart of the city. Best Time to Visit: October to February The weather is mild and pleasant, making it a great time to explore gardens, parks, and architectural landmarks. <cmsannotation type="cmsannotation" annotationid="6. Mumbai, Maharashtra" comment="subhead" text="6. Mumbai, Maharashtra">6. Mumbai, Maharashtra</cmsannotation> <div type="image" title="6" msid="110675112" hostid="261" sizebytes="1615754" caption="&amp;lt;p&amp;gt;Take in the iconic view of the Gateway of India by the Arabian Sea.&amp;lt;/p&amp;gt;"></div>Feel the vibrant pulse of Mumbai, the city that never sleeps. Walk along Marine Drive, gaze at the iconic Gateway of India, and admire the architectural splendour of Chhatrapati Shivaji Maharaj Terminus. Best places to visit: Marine Drive: A scenic promenade along the Arabian Sea. Gateway of India: A historic arch monument by the sea. Chhatrapati Shivaji Maharaj Terminus: A UNESCO World Heritage site and a stunning example of Victorian Gothic architecture. Best Time to Visit: November to February The temperatures are cooler and humidity is lower, making it comfortable to enjoy the city's outdoor attractions like Marine Drive and Gateway of India. <cmsannotation type="cmsannotation" annotationid="7. Kochi, Kerala" comment="subhead" text="7. Kochi, Kerala">7. Kochi, Kerala</cmsannotation> <div type="image" title="7" msid="110675117" hostid="261" sizebytes="1349911" caption="&amp;lt;p&amp;gt;Explore the charming colonial streets and historic sites of Fort Kochi.&amp;lt;/p&amp;gt;"></div>Navigate the coastal charm of Kochi, with its rich historical tapestry. Explore the colonial streets of Fort Kochi, visit the storied Mattancherry Palace, and see the ancient Jewish Synagogue Best places to visit: Fort Kochi: Famous for its colonial architecture and Chinese fishing nets. Mattancherry Palace: Also known as the Dutch Palace, it showcases Kerala's art and history. Jewish Synagogue: One of the oldest synagogues in the Commonwealth. Best Time to Visit: October to March The weather is pleasant and dry, ideal for exploring the historical sites and enjoying backwater cruises. <cmsannotation type="cmsannotation" annotationid="8. Amritsar, Punjab" comment="subhead" text="8. Amritsar, Punjab">8. Amritsar, Punjab</cmsannotation> <div type="image" title="8" msid="110675123" hostid="261" sizebytes="1363938" caption="&amp;lt;p&amp;gt;Find peace and reflection at the shimmering Golden Temple in Amritsar.&amp;lt;/p&amp;gt;"></div>Find peace and reflection in Amritsar, the heart of Sikhism. Visit the awe-inspiring Golden Temple, experience the patriotic Wagah Border Ceremony, and remember the past at Jallianwala Bagh. Best places to visit: Golden Temple: The holiest Gurdwara and an architectural marvel. Wagah Border Ceremony: Witness the daily military ceremony at the India-Pakistan border. Jallianwala Bagh: A public garden and memorial to the tragic massacre of 1919. Best Time to Visit: November to March The temperatures are cooler, making it comfortable to visit the Golden Temple, and Jallianwala Bagh, and witness the Wagah Border ceremony. <cmsannotation type="cmsannotation" annotationid="9. Goa" comment="subhead" text="9. Goa">9. Goa</cmsannotation> <div type="image" title="9" msid="110675127" hostid="261" sizebytes="2478575" caption="&amp;lt;p&amp;gt;Relax on the sun-kissed sands of Baga Beach in vibrant Goa.&amp;lt;/p&amp;gt;"></div>Bask in the sunshine of Goa, where pristine beaches meet a vibrant culture. Enjoy the lively Baga Beach, explore the historical Basilica of Bom Jesus, and marvel at the natural wonder of Dudhsagar Falls. Best places to visit: Baga Beach: Popular for its nightlife and water sports. Basilica of Bom Jesus: A UNESCO World Heritage site with the mortal remains of St. Francis Xavier. Dudhsagar Falls: A spectacular four-tiered waterfall. Best Time to Visit: November to February The weather is perfect for beach activities, water sports, and enjoying the vibrant nightlife, with comfortable temperatures and low humidity. <cmsannotation type="cmsannotation" annotationid="10. Shillong, Meghalaya" comment="subhea" text="10. Shillong, Meghalaya">10. Shillong, Meghalaya</cmsannotation> <div type="image" title="10" msid="110675145" hostid="261" sizebytes="2281218" caption="&amp;lt;p&amp;gt;Hills of Shillong.&amp;lt;/p&amp;gt;"></div>Escape to the cool highlands of Shillong, the Scotland of the East. Enjoy the tranquillity of Umiam Lake, take in the panoramic views from Shillong Peak, and be captivated by the cascading Elephant Falls. Best places to visit: Umiam Lake: A serene and picturesque lake. Shillong Peak: Offers panoramic views of the city and the Himalayas. Elephant Falls: A beautiful multi-tiered waterfall. Best Time to Visit: September to May The weather is cool and pleasant, with the period just after the monsoons being especially beautiful with lush landscapes and cascading waterfalls. Each of these cities offers a unique glimpse into the diverse cultural tapestry of India. From historical landmarks and spiritual experiences to natural beauty and modern attractions, there's something for every traveller. So pack your bags and get ready to explore the incredible beauty of India in 2024! <cmsannotation type="cmsannotation" annotationid="Frequently asked questions" comment="subhead" text="Frequently asked questions">Frequently asked questions</cmsannotation> 1. What is the best way to travel between these cities? The best way to travel between these cities depends on the distance and your preferences. For longer distances, flights are the quickest and most convenient option. For shorter distances or a more scenic route, trains and buses are good choices. India's extensive rail network connects most cities, and there are numerous bus services as well. 2. Are there any cultural etiquettes or customs I should be aware of while visiting these cities? Yes, India is a country rich in cultural traditions and customs. Here are a few tips: Dress modestly: Especially when visiting religious sites. Remove shoes: When entering homes, temples, and some shops. Respect local customs: Be aware of local traditions and practices. Use your right hand: For eating and giving or receiving items, as the left hand is considered unclean. 3. What kind of accommodations can I expect in these cities? Accommodations in these cities range from budget hostels and guesthouses to mid-range hotels and luxury resorts. Many cities also offer unique stays, such as heritage hotels in Jaipur and Udaipur, houseboats in Kochi, and beach resorts in Goa. Booking in advance is recommended, especially during peak tourist seasons. 4. Is it safe to travel to these cities as a solo traveller? Generally, these cities are safe for solo travellers, including women. However, it's important to take standard precautions: Stay in reputable accommodations. Avoid isolated areas at night. Keep your belongings secure. Be cautious with strangers and avoid sharing personal information.

10 most beautiful cities in India you must visit in 2024

A recent study by the Center for Study of Science, Technology and Policy (<keyword id="22661207" type="General" weightage="20" keywordseo="CSTEP" source="keywords">CSTEP</keyword>) has sounded alarm bells about the escalating threat of <keyword id="21236365" type="General" weightage="20" keywordseo="sea-level-rise" source="keywords">sea level rise</keyword> to India's <keyword id="20010174" type="General" weightage="20" keywordseo="coastal-cities" source="keywords">coastal cities</keyword>. The data is stark: <keyword id="19895282" type="General" weightage="20" keywordseo="Mumbai" source="keywords">Mumbai</keyword> has experienced the most significant rise in sea levels among 15 major coastal cities in recent decades, a worrying trend that is set to worsen. Mumbai saw a rise of 4.44 cm between 1987 and 2021. Following Mumbai, Haldia recorded a rise of 2.726 cm, Visakhapatnam 2.381 cm, Kochi 2.213 cm, Paradip 0.717 cm, and <keyword id="19895758" type="General" weightage="20" keywordseo="Chennai" source="keywords">Chennai</keyword> 0.679 cm. To make matters worse, the study forecasts that sea levels will continue to rise until the end of the century, with Mumbai expected to face the highest increase. By 2100, projections indicate that sea levels will rise by 76.2 cm in Mumbai, 75.5 cm in Panaji, 75.3 cm in Udupi, 75.2 cm in Mangalore, 75.1 cm in Kozhikode, 74.9 cm in Kochi, 74.7 cm in Thiruvananthapuram, and 74.7 cm in Kanyakumari, even under a medium-emission scenario. <div type="Article" hostid="261" msid="110502066" title="Feeling like nights are getting too uncomfortable? New report confirms that nighttime temperatures aren’t dipping enough" mstype="2" mssubtype="0"></div> The study also explores potential inundation areas in these cities under the Intergovernmental Panel on <keyword id="19907392" type="General" weightage="20" keywordseo="climate-change" source="keywords">Climate Change</keyword>’s (IPCC’s) medium- and high-emission Shared Socio-economic Pathway (SSP) scenarios for 2040, 2060, 2080, and 2100. These scenarios consider how socio-economic factors such as population, education, and urbanisation might affect greenhouse gas emissions, impacting climate change. The report categorises the cities into Tier-I (Chennai and Mumbai), Tier-II (Thiruvananthapuram, Kochi, Mangaluru, Visakhapatnam, Kozhikode, and Haldia), and towns (Kanyakumari, Panaji, Puri, Udupi, Paradip, <keyword id="19898995" type="General" weightage="20" keywordseo="thoothukudi" source="keywords">Thoothukudi</keyword>, and Yanam). By 2040, more than 10% of the land in Mumbai, Yanam, and Thoothukudi, 5%-10% in Panaji and Chennai, and 1%-5% in Kochi, Mangalore, Visakhapatnam, Haldia, Udupi, Paradip, and Puri are predicted to be submerged due to <keyword id="21682268" type="General" weightage="100" keywordseo="rising-sea-levels" source="keywords">rising sea levels</keyword>. The percentage is expected to increase by 2100, with higher risks in Mangalore, Haldia, Paradip, Thoothukudi, and Yanam compared to Mumbai and Chennai under a high-emission scenario. <div type="Article" hostid="261" msid="107632251" title="Why is everyone concerned about the Earth being 1.5°C warmer for 12 months in a row?" mstype="2" mssubtype="0"></div> Dr. Anushiya J, a Research Scientist at CSTEP and the lead author of the report, emphasised the far-reaching implications of rising sea levels. "Climate change brought on by fossil-fuel burning and greenhouse gas emissions has led to a steady increase in global temperatures. As a result, sea surface temperatures and glacier melting have increased, eventually rising sea levels and posing a major threat to coastal cities worldwide, including Indian coastal cities," she stated. She highlighted that many Indian coastal cities are major economic hubs with natural ports, cultural centres, biodiversity hotspots, and religious monuments. The continuing sea level rise necessitates immediate action to frame suitable adaptation and risk mitigation strategies. The report underscores the urgent need for comprehensive policies to address the challenges posed by rising sea levels. The sectors most vulnerable include water, agriculture, forest and biodiversity, and health. The beaches, backwaters, and mangrove forests, which are crucial for biodiversity and tourism, are particularly at risk.

Mumbai, Chennai to lose 10% and 7% of their land to rising sea levels in just 15 years, says study

<keyword id="19896956" type="General" weightage="20" keywordseo="swiggy" source="keywords">Swiggy</keyword>'s quick commerce platform, <keyword id="19939135" type="General" weightage="100" keywordseo="swiggy-instamart" source="keywords">Swiggy Instamart</keyword>, is expanding its reach across India, bringing its services to a total of 43 cities. The platform, which promises delivery of daily essentials in just 10 minutes, has recently launched in 11 new cities over the past two months, including Rajkot, Thrissur, <keyword id="19936741" type="General" weightage="20" keywordseo="mangalore" source="keywords">Mangalore</keyword>, Kanpur, Udaipur, Warangal, Salem, Amritsar, <keyword id="19967908" type="General" weightage="20" keywordseo="bhopal" source="keywords">Bhopal</keyword>, Varanasi, and Ludhiana. This marks a significant push into Tier 2 and 3 cities, reflecting the company’s strategy to grow beyond its strong presence in metropolitan areas. In these new locations, customers can order a wide variety of items, including groceries, electronics, beauty products, and home supplies, all delivered within a 10-minute timeframe. One of the key elements of Swiggy Instamart’s growth strategy is its partnership with local vendors and brands, ensuring that customers in each city have access to regionally relevant products. In Mangalore, for instance, popular local names like Narans Foods and Ideal Icecream are now available on the platform. In Bhopal, customers can order from local brands such as Top N Town Breads and Andaah, while residents in Thrissur can find products from Milma Milk and Navua Bakers. This localised approach has helped the company attract a broader customer base, catering to regional tastes while maintaining the convenience of quick commerce. The company says that it has seen positive results from its recent expansion into these smaller markets. In Mangalore, one of the newly launched cities, a Swiggy Instamart store reached 1,000 orders in a single day faster than in many larger cities. Thrissur also set a benchmark by processing over 1,000 orders in just four minutes. Even in challenging weather conditions, such as the rain in Bhopal, the platform maintained full service availability, with 40% of orders being delivered on time despite adverse conditions. Swiggy Instamart’s CEO, <keyword id="22954620" type="General" weightage="20" keywordseo="amitesh-jha" source="keywords">Amitesh Jha</keyword>, noted the strong response from these smaller cities, stating that the enthusiastic demand has encouraged the platform to continue its expansion. "Users across India already recognize the convenience Swiggy provides," he said in a press release and added, "The enthusiastic demand from smaller towns and cities has been incredibly encouraging. Our expansion into these new locations marks a significant milestone, allowing even more people to experience the ease of having thousands of products—from everyday essentials to electronics and toys—delivered in just 10 minutes from both national and local brands." Looking ahead, Swiggy Instamart plans to deepen its presence in Tier 2 and 3 markets by expanding its network of dark stores—small, dedicated storage facilities used for rapid delivery. This move will help the platform manage the expected rise in demand during the upcoming festive season, a time when quick commerce services tend to see a spike in orders.

Swiggy Instamart launches in 11 new cities, says expansion in smaller markets has yielded positive results

<ul><li>E-commerce companies are expected to clock up to ₹1.2 lakh crore in sales this <keyword id="19894908" type="General" weightage="20" keywordseo="festive-season" source="keywords">festive season</keyword>.</li><li>Mobile, electronics and fashion categories are expected to dominate during the sale.</li><li>The <keyword id="20253122" type="General" weightage="20" keywordseo="gross-merchandise-value" source="keywords">gross merchandise value</keyword> is expected to record a 20% <keyword id="21396882" type="General" weightage="20" keywordseo="year-on-year-growth" source="keywords">year-on-year growth</keyword>.</li></ul>The festive season is here and e-commerce giants Amazon, Flipkart and other companies have started their festive sales. Driven by high pent-up demand and a premiumisation wave in the country, <keyword id="21687870" type="General" weightage="20" keywordseo="E-commerce-sales" source="keywords">e-commerce sales</keyword> are estimated to reach up to ₹1.2 lakh crore in gross merchandise value (GMV). The GMV of ₹1.2 lakh crore will be a 20% year-on-year (YoY) growth for the e-commerce sector, according to a report by Redseer Strategy Consultants. Mobiles, electronics and fashion categories are set to gain momentum while other categories such as beauty and personal care, home and more will see an incremental upside, “taking their festive growth above 25%,” as per the report. According to Kushal Bhatnagar, Associate Partner at Redseer, mobiles and electronics remain key value and growth drivers this festive season, especially as consumers respond to affordability options that make premium products more accessible. “Moreover, sellers and platforms have the potential to unlock the pent-up demand in the category by optimising for pricing and selection,” Bhatnagar added. As brands look to capitalise on the festive demand, many are strategically leveraging e-commerce platforms to cater to the aspirational customers’ needs and reach the relatively less accessible customers in tier 2 cities and beyond. “As a result, they look to partner deeply with the leading platforms to attract customers via lucrative discounts and offers available in the large-scale festive events,” he said. This festive season, brands are looking to push premium stock keeping units (SKUs) at a discounted price, to encourage aspirational buying. Quick commerce, which saw significant traction in 2023, is set to contribute approximately 8% to overall e-commerce growth, up from the 5% growth recorded last year. Newer categories such as home and kitchen appliances are likely to get pushed aggressively on quick commerce platforms and could also help the platforms to boost their average order values and profitability as per the report. With inputs from agencies. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-october-2024/slidelist/113809612.cms">Upcoming cars launching in India in October 2024</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-october-2024/slidelist/113804125.cms">Upcoming smartphones launching in India in October 2024</a> <a href="https://www.businessinsider.in/stock-market/news/krn-heat-exchanger-ipo-allotment-check-allotment-status-gmp-listing-date-and-more/articleshow/113801258.cms">KRN Heat Exchanger IPO allotment – Check allotment status, GMP, listing date and more</a>

E-commerce sales expected to reach ₹1.2 lakh crore this festive season

<ul><li><keyword id="12648502" type="General" weightage="20" keywordseo="ipl-2023" source="Orion">IPL 2023</keyword> is expected to boost the revenue of fantasy sports companies to ₹2,900-3,100 crore. </li><li>Growth in fantasy <keyword id="17051681" type="General" weightage="20" keywordseo="sports-platforms" source="Orion">sports platforms</keyword> will be driven by increasing adoption in tier-2 cities.</li><li>Tier-2 and beyond cities account for over 80% of the user base.</li></ul> Fantasy sports companies like Dream11, My11Circle, MPL are set to receive a huge boost due to the ongoing Indian Premier League (<keyword id="6354312" type="General" weightage="20" keywordseo="ipl" source="Orion">IPL</keyword>) 2023. These companies are expected to earn a gross gaming revenue of ₹2,900-3,100 crore in 2023. According to a report by Redseer Strategy Consultants, the fantasy sports market has grown due to increased awareness of fantasy sports among people and increased marketing efforts by new companies. The gross gaming revenue of fantasy sports companies is expected to increase by 30 to 35%, taking it to ₹2,900-3,100 crore during 2023. The report predicts that the average revenue per user (ARPU) will increase from ₹410 during IPL 2022 to ₹440 per user during IPL 2023. In 2022, fantasy sports companies earned a gross gaming revenue of ₹2,260 crore, up from ₹1,460 crore in 2021, registering a growth of 55%. In 2022, IPL recorded a viewership of 400 million TV viewers. In 2022, 50% of the transacting users were from tier-2 cities and 31% from tier-3 and beyond cities. Metro cities and tier-1 cities contributed just 8% and 11%, respectively. <cmsannotation type="cmsannotation" annotationid="Tier-2 cities to drive growth" comment="subhead" text="Tier-2 cities to drive growth">Tier-2 cities to drive growth</cmsannotation> According to Ujjwal Chaudhry, the growth in the fantasy sports segment will be driven by increased adoption in tier-2 cities across the country and the cross-migration of users from other games. Increasing internet penetration in tier-2 and beyond cities is also expected to provide a push to the industry. Over 80% of users reportedly come from tier-2 and beyond cities. “Steep growth in fantasy sports gaming will come from tier 2 cities driven by increasing adoption of fantasy platforms and cross-migration of users from other games. Increased internet accessibility will give a push to the IPL economy,” said Chaudhry, partner, Redseer Strategy Consultants. <cmsannotation type="cmsannotation" annotationid="Government’s regulations to boost transacting users" comment="subhead" text="Government’s regulations to boost transacting users">Government’s regulations to boost transacting users</cmsannotation> The Indian government’s decision to formulate rules and regulations for Goods and Service Tax (GST) on real money gaming (RMG) platforms and Google allowing fantasy sports platforms on its Play Store will also help in increasing transactions during IPL 2023. “There has been an increase in efforts to make platforms more secure and reliable for the users. Measures like RNG certification, secure payment gateways, and fraud security, increase user trust in the platforms, and subsequently build confidence in the users to spend higher amounts on gaming,” said Saurav Kumar Chachan, director, Redseer Strategy Consultants. <cmsannotation type="cmsannotation" annotationid="Prizes like Audi cars and Mahindra Thar push users to spend more" comment="subhead" text="Prizes like Audi cars and Mahindra Thar push users to spend more">Prizes like Audi cars and Mahindra Thar push users to spend more</cmsannotation> In 2022, Dream11, a popular fantasy sports platform, offered its users rewards such as Audi cars during IPL 2022, and My11Circle, another fantasy sports platform, offered the Mahindra Thar as a reward during the 2022 World Cup. These rewards pushed users to deposit and spend more money to win these prizes. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/ashneer-grovers-new-startup-crickpe-is-a-fantasy-sports-app-that-will-also-reward-cricketers/articleshow/98964195.cms">Ashneer Grover's new startup CrickPe is a fantasy sports app that will also reward cricketers</a> <a href="https://www.businessinsider.in/tech/apps/news/how-to-check-tds-dividend-income-and-income-tax-refund-using-the-ais-for-taxpayers-app/articleshow/99025288.cms">How to check TDS, dividend income, and income tax refund using the AIS for Taxpayers app</a> <a href="https://www.businessinsider.in/tech/mobile/news/three-out-of-four-premium-smartphones-sold-in-2022-were-an-iphone/articleshow/98855033.cms">Three out of four premium smartphones sold in 2022 were an iPhone</a>

You Searched For "Tier 2 cities" and got 12 results

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