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(Photo Source: pixabay.com) <ul><li>India’s National Anti Profiteering Authority is reportedly witnessing an increase in consumer complaints against fast-moving consumer good (FMCG) companies for not providing the tax cuts as decided by India’s goods and services tax rules. </li><li>Nearly 300 complaints were filed with the authority in the past few weeks, LiveMint reported. </li><li>The increase in the number of complaints reflects the limited success of the lower GST rates translating into lower consumer prices. </li></ul> More and more consumers are lodging complaints with India’s National Anti Profiteering Authority (NAA) against fast moving consumer goods (FMCG) firms for not passing the GST rate cut benefits to them. Nearly 300 complaints have been filed in the past few weeks against makers of handwashes, deodorants, scented <keyword id="683021" type="DOMAIN" weightage="20" keywordseo="Oils">oils</keyword>, and cosmetics, <a href="https://www.livemint.com/Industry/Tf9nofIOHU4eUGJkuP4STO/Surge-in-complaints-against-FMCG-firms-over-GST-rate-cut-ben.html">Live Mint</a> reported citing sources. The increase in the number of complaints reflects the limited success of the lower GST rates translating into lower consumer prices. India’s Goods and Services Tax Council announced a rebate in taxes from 28% to 18% last year on various consumer products including shampoo, cosmetics, hair oil, and groceries. Further, this year it decided to reduce the tax rate levied on refrigerators, washing machines, small televisions, and vacuum cleaners from 28% to 18%. The extensive supply chains of FMCG companies may make it difficult for them to implement price changes and is not necessarily a move to inappropriately profit, according to the Mint report. Most of the complaints lodged by consumers were related to products including khadi products, baby wash, disinfectant gels, and hair care products, said the report. The National Anti-Profiteering Authority, which is responsible for monitoring if GST is implemented appropriately by companies, is expected to take action over the next few months. A recent survey by Local Circles shows that nearly half of more than 7,800 survey respondents believe that the companies did not pass them GST rate cut benefits in the month of November. Whereas, only a small proportion of respondents, 5%, believe that they received a complete tax cut rate benefit, reported The Hindu Business Line <a href="https://www.thehindubusinessline.com/news/consumer-durables-buyers-yet-to-see-gst-rate-cut-benefits-survey/article25391585.ece">citing a survey. </a>

Complaints rise against Indian companies that haven’t passed on the benefits of lower GST to consumers: Report

Hypermarkets, hailed as game changers in China's retail industry as recently as two decades ago, have been pushed aside by the popularity of smartphone-enabled payments and online shopping. <keyword id="57606" type="COMPANY" weightage="20" keywordseo="Carrefour">Carrefour</keyword>, the French retailer announced on Sunday, is selling an 80 per cent stake in its China operations to Suning, ceding control in a market that it had first entered in 1995. "Foreign hypermarket brands are increasingly facing difficulties in making money from their Chinese businesses," said Jason Yu, the general manager of market research firm Kantar Worldpanel China. "For most of them, it is a critical time to readjust strategies due to the mounting challenge from the local e-tailers." Carrefour's partial exit underscores the shift underway in shopping patterns in the world's most populous nation. China's e-commerce market is worth 2.24 trillion yuan (US$325.6 billion), growing by 15.3 per cent in the first quarter from a year earlier, according to the National Bureau of Statistics. As much as 23 per cent of total consumer spending took place online during the first quarter, reflecting growth of 1.6 percentage points from last year, while the share of consumer spending at hypermarkets eased to 20.2 per cent, a drop of 3.4 percentage points from 2014, according to Kantar. Foreign supermarkets and hypermarkets, featuring rows and stacks of consumer items, foodstuffs, clothing, appliances and furniture over tens of thousands of square feet, were the subject of awe and envy in China during the early days of the country's experiment with market capitalism. Carrefour, Metro of Germany, Tesco of Britain, and even the Lotus supermarket chain operated by the Charoen Pokphand Group of Thailand, drew thousands of daily shoppers to their retail outlets. For a period, hypermarket chains gained the upper hand over domestic rivals, including department stores, supermarkets and convenience stores. <a href="https://www.scmp.com/business/companies/article/3015747/carrefour-sells-80-cent-its-chinese-retail-operations-suning-48">Carrefour sells 80 per cent of its Chinese retail operations to Suning for 4.8 billion yuan</a> However, changes in the past decade, including the rising penetration of e-commerce, has led to a shift in consumer habits, led by young urbanites who rely on their mobile phones to place orders for items ranging from daily necessities to household appliances, cinema tickets and meals. Yu said the trend of falling sales and profits at bricks-and-mortar retailers will continue in the coming years, amid the continuing growth in e-commerce. The latest data by Kantar showed that foreign retailers continued to lose ground in the segment of <keyword id="403767" type="PERSON" weightage="20" keywordseo="fast-moving-consumer-goods">fast-moving consumer goods</keyword> in China. The market share of French retailing group Auchan declined 0.1 percentage point from a year ago to 1.2 per cent in the first quarter of this year. Carrefour's 210 hypermarkets in China suffered a 0.3 percentage point erosion in market share to 2.8 per cent at the end of the first quarter on year. Meanwhile, US retail giant Wal-Mart had a 5.1 per cent market share in China at the end of the March-ended quarter, compared to a 5.4 per cent share a year earlier. In 2013, supermarket chain Wumart Stores acquired most of the Lotus supermarkets on the mainland in a share-swap deal worth HK$2.3 billion (US$295 million). "Since the digitalisation of China's commerce is an irreversible trend and foreign companies have no concrete IT infrastructure or complete logistics network on hand, they are underdogs now," said Eric Han, a senior manager with business advisory firm Shanghai Suolei. "Divestment and partnering with local competitors or e-commerce giants are the ideal choices." Suning, which operates a network of 8,881 physical stores in China, said it plans to leverage its controlling stake in Carrefour China to reduce procurement and logistics costs. "In the digitalised era, retailers need to grasp technologies including big data and <keyword id="107950" type="TECHNOLOGY" weightage="20" keywordseo="artificial-intelligence">artificial intelligence</keyword> to work out solutions that can better integrate online operations into physical stores offline," said Yu. "The name of the game is to build customer loyalty by offering them the best prices and shopping experiences." In 2018, Carrefour's Chinese business generated net sales of 28.5 billion yuan, down 5.9 per cent on year. Its earnings before interest, tax, depreciation and amortisation stood at 516 million yuan. Suning is 19.99 per cent owned by Chinese e-commerce giant Alibaba Group Holding, which also owns the South China Morning Post. Germany's Metro AG is also said to be offloading a majority stake in its Chinese hypermarkets business. "China's retail market is still viewed as a gold mine to global players," said Chen Xiao, chief executive of Shanghai Yacheng Culture, a firm that deals with marketing and branding for retail companies. "As early comers quit, we still see growing interest from latecomers who believe their models can work in China." Early this month, German discount supermarket chain Aldi opened two pilot stores in Shanghai. China is the No 2 market in terms of the number of stores for <a href="https://www.scmp.com/business/companies/article/3015617/french-sporting-goods-brand-decathlon-bets-try-it-you-buy-it" target="_self">French sports equipment company Decathlon</a>. Decathlon operates 280 stores across more than 100 mainland cities and plans to double its work force in China to more than 30,000 by the end of 2022, according to a report by Xinhua.

French retail giant Carrefour leads retreat from China as 'underdog' hypermarkets lose dominance

Mumbai, Dec 30 () Fast-moving consumer goods and durables (FMCG/D) companies are keen on hiring apprentices to meet their talent requirements, according to a report.
 According to the report by National Employability Through Apprenticeship Program (NETAP) and TeamLease Skills University, around 45 per cent of the FMCG/D industry has expressed inclination to hire apprentices.
 The country's eastern region was on the top with 46 per cent companies showing interest to hire apprentices, followed by southern (42 per cent), northern (41 per cent) and western (34 per cent) regions, according to the report titled 'Apprenticeship Outlook and Index'. 
 The report is based on a survey of 502 employers across 12 sectors and four regions, on the current levels of hiring of apprentices and employer sentiment.
 It also includes the Apprenticeship Index (comprising the Candidate Index and the Employer Index), which measures the effectiveness of the apprenticeship programmes in India.
 "We are delighted to see the positive conviction among FMCG/D players who are extensively looking at hiring apprentices. The employers are fast realising the potential of apprenticeship to meet their talent requirements.
 With betterment in ease of doing business, strengthening of product development and distribution capabilities, coupled with rising consumerism, we expect the demand for apprentices to grow stronger," Sumit Kumar, vice-president of NETAP at TeamLease Skill University, said.
 The report also showed that western and northern are the country's highest-paying regions. 
 Further, it said around 89 per cent of the employers preferred a six-month to one-year tenure rather than short-duration apprentices. 
 About 30 per cent of the respondent employers engage apprentices with the purpose of meeting the skill requirements of the company mainly for cost-effective talent creation and enhanced productivity, it added. SM RUJ

Fast-moving consumer goods, durables players keen on hiring apprentices: Report

<ul><li>India is expected to witness nearly 7% surge in job creation in the second quarter while the fresher hiring takes a hit, showing negative hiring sentiment. </li><li>Healthcare &amp; pharmaceuticals, IT and ecommerce and, tech startups intend to hire in the next six months. </li><li>However, manufacturing, construction &amp; real estate, financial services, retail and FMCG have shown a negative outlook for hiring. </li><li>Delhi, Bangalore, Chennai and Mumbai created the most number of jobs during April -September. </li></ul>India is expected to witness nearly 7% surge in job creation in the second quarter but the hiring of freshers may have slowed down. The good news is, there may be a rise in new vacancies in the rest of the financial year ending March 2020, according to the latest <keyword id="1383335" type="ORGANIZATION" weightage="20" keywordseo="Teamlease-employment-outlook">TeamLease Employment Outlook</keyword> Report. The biggest recruiters will be educational services and e-commerce. As the Indian government incorporates reforms in export policy and corporate tax to put an end to the rising unemployment rate in the country, healthcare &amp; pharmaceuticals, IT and ecommerce and, tech startups intend to hire in the next six months, particularly from tier-II cities. <a href="https://www.businesstoday.in/top-story/unemployment-rate-india-cmie/story/391369.html">According to</a> the Centre for Monitoring Indian Economy (CMIE), the unemployment rate in India fell to 7.48% in November. “8 out of the 19 sectors are expected to witness a double digit rise in job creation. Logistics and educational services alone will add 14.36% more jobs during the period October-March, 2019-20 indicting the dip in the net employment outlook to be more of a passing phase,” said Rituparna Chakraborty, Co-Founder &amp; Executive Vice President, TeamLease Services. During the first half of the year — April to September 2019 — logistics, educational services and Fast Moving Consumer Goods &amp; Durables led the hiring sentiment. Delhi, Bangalore, Chennai and Mumbai created the most number of jobs in the same period. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">Sectors </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 hiring between April and September 2019 </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;">Logistics </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;">28,650 </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;">Educational Services </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;">24,380 </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;">FMCG </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;">17,400 </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;">FMCD </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;">17,100 </td></tr></tbody></table> The survey analysed 744 organisations in 19 sectors across geographies to understand the hiring sentiments and employment outlook trends. See also: <a href="https://www.businessinsider.in/careers/news/hiring-managers-reveal-a-big-reason-for-high-unemployment-in-india/articleshow/71970122.cms">Hiring managers reveal a big reason for high unemployment in India</a> <a href="https://www.businessinsider.in/careers/news/top-soft-skills-than-can-help-new-age-employees-beat-competition-from-machines/articleshow/71801631.cms">Top soft skills than can help new-age employees beat competition from machines</a>

India is expected to witness 7% surge in job creation — Healthcare, IT and ecommerce to hire over the next six months

<ul><li>India’s largest retailer, <keyword id="44949" type="COMPANY" weightage="20" keywordseo="Future-group">Future Group</keyword> is set to scale up its share in laundry market with new liquid and powder detergent brands. </li><li>The move is set to cut shelf space by a third and hit <keyword id="6365619" type="COMPANY" weightage="20" keywordseo="hindustan-unilever">Hindustan Unilever</keyword> and <keyword id="316422" type="DOMAIN" weightage="20" keywordseo="Procter">Procter</keyword> &amp; Gamble’s market share. </li><li>Future Group owner <keyword id="44950" type="PERSON" weightage="20" keywordseo="Kishore-Biyani">Kishore Biyani</keyword> announced his company’s new plans. </li></ul>India’s largest retailer, Future Group is planning to scale up its share in the laundry market with its own line of liquid detergents and powders. The Founder of the group, Kishore Biyani said that he wants to take on giants like Hindustan Unilever and Procter &amp; Gamble (P&amp;G) by cutting their shelf space by a third in the segment, says an <a href="https://economictimes.indiatimes.com/industry/services/retail/kishore-biyani-sees-bright-future-in-own-brands/articleshow/70166924.cms?from=mdr">Economic Times</a> report. The Group’s Future Consumer (FCL), the consumer arm of the group which runs <keyword id="6357823" type="COMPANY" weightage="20" keywordseo="big-bazaar">Big Bazaar</keyword> stores, already launched its own liquid detergent brand, Voom. It soon plans to come up with a powder format of it, in two weeks. On the Shelf Biyani wants to gain disproportionate share in the market, building on its vast retail presence. “Consumers will finally decide which brands to pick but we have to push our own brands on shelves too,” Biyani told ET. The Future Group operates around 1,500 stores across supermarket chains like Big Bazar, Easyday, <keyword id="162215" type="COMPANY" weightage="20" keywordseo="Hypercity">HyperCity</keyword>, Easyday and Nilgiris. Together, they account for around 5% of the HUL and P&amp;G’s annual sales worth ₹4,000 crores. FCL is leaving no stone unturned to get its brands into the market. It is planning to stock its new laundry brand Voom across fashion stores too owned by the group like FBB, <keyword id="370284" type="COMPANY" weightage="20" keywordseo="Brand-Factory">Brand Factory</keyword> and Central stores. Ambitious targets Laundry is the biggest market category for both HUL and P&amp;G. The largest segment in the home and personal care space is worth ₹24,000 crore. HUL and P&amp;G have flagship brands like Surf, Rin, Ariel and Tide, which control more than half of the market. But, Future has set ambitious targets to get 70% of sales from their own brands in the next few, said the ET report. Laundry is a big part of this grand plan. Biyani restructured his retail company into a fast moving consumer goods company (FMCG) company, nearly a decade back. Future Consumer has its own brands and private labels. FCL already has a 20% share in the biscuit segment. It is also the third largest player after household brands like <keyword id="6359432" type="DOMAIN" weightage="20" keywordseo="britannia">Britannia</keyword> and Parle. Within their own stores, FCL has a majority share in the body wash segment and also snacks.

Kishore Biyani’s Big Bazaar wants to take Hindustan Unilever and Procter & Gamble to the cleaners, with its own laundry brands

<ul><li>Retail and Fast Moving Consumer Goods &amp; Durables (FMCG&amp;D) sector is expected to add nearly 2.76 lakh new jobs. </li><li>Retail sector alone will be creating 33,310 new jobs for freshers across cities. </li><li>Delhi, Bangalore and Mumbai are the top cities creating employment in the Retail and FMCG sector. </li><li>The job creation by retail and FMCG/D will witness a 15.11% and 10.31% growth respectively.</li></ul>India’s Retail and Fast Moving Consumer Goods &amp; Durables (FMCG&amp;D) sector is expected to add nearly 2.76 lakh new jobs in the market, according to the Employment Outlook Report by TeamLease. According per the report, the retail sector will add 1.66 lakh new jobs adding 2% to the net employment in the April to September quarter of 2019-20. The consumer goods sector will create 1.10 lakh new jobs — which is expected to accelerate fresher hiring across the country. Overall, 17% of net new jobs to be added between April and September is earmarked for fresher hirings. “Not only experienced talent seems to benefit from the optimism in these sectors; it will see a positive impact on fresher hiring as well. Retail sector alone will be creating 33,310 new fresh graduates jobs across cities,” said Mayur Saraswat, Head of Digital &amp; IT, Teamlease Services. Delhi and Bangalore will see the most number of jobs in the retail sector by adding 27,560 and 22,770 jobs, respectively. This rise in jobs can be attributed to the major acquisitions and foreign entrants in the Indian market. In the FMCG market, food joints and new FDI norms have pushed for more opportunities with Mumbai and Delhi creating most jobs (25,570). Consumer goods company <keyword id="6365619" type="DOMAIN" weightage="20" keywordseo="hindustan-unilever">Hindustan Unilever</keyword> <a href="https://www.livemint.com/industry/retail/fmcg-firms-may-see-pick-up-in-demand-later-this-year-report-1560796948484.html">reportedly</a> witnessed 7% growth in sales volume, which is the company’s lowest in six quarters, while <keyword id="6373748" type="DOMAIN" weightage="20" keywordseo="dabur-india">Dabur India</keyword> 4.3% sales growth. “Apart from government interventions like easing of FDI norms, expansions by the domestic players, the increase in domestic consumption will also create more jobs. The job creation by Retail and FMCD/ G will witness a 15.11% and 10.31% growth respectively,” Saraswat added. The TeamLease report surveyed 19 sectors and 14 geographies, conducting analysis on 775 enterprises in India to understand the employment across sectors. See Also: <a href="https://www.businessinsider.in/financial-services-sector-to-add-47800-new-jobs-delhi-mumbai-top-locations/articleshow/69767312.cms">Financial services sector to add 47,800 new jobs — Delhi, Mumbai top locations</a> <a href="https://www.businessinsider.in/6-million-indians-will-be-in-the-gig-economy-within-two-years-thats-nearly-twice-the-current-size/articleshow/69854133.cms">6 million Indians will be in the gig economy within two years -- that's nearly twice the current size</a> <a href="https://www.businessinsider.in/indian-employees-are-willing-to-give-up-10-of-salary-for-job-security/articleshow/69839667.cms">Indians are willing to give up 10% of salary for job security</a>

There may be 33,000 vacancies for freshers in India's retail and FMCG sector

<ul><li>Recruiters across sectors — automobile, banking and finance, and telecom — are banking on internships to assess potential candidates. </li><li>Management has been the hottest sector to enroll in, for internships, at nearly 47%, according to online training and internship platform Internshala. </li><li>Top business schools such as <keyword id="481185" type="COMPANY" weightage="20" keywordseo="Management-Development-Institute">Management Development Institute</keyword>, Gurgaon, Tata Institute of Social Sciences (TISS), Mumbai, Indian Institute of Management (IIM), Kozhikode have seen a rise in the number of internships and average stipend. </li><li>Only 60% of students of a total of 360,000 who enroll in post-graduate courses land a management job, according to the All India Management Association (AIMA).</li></ul>Recruiters across sectors — automobile, banking and finance, and telecom — are depending on internships to assess potential candidates, to hire for full-time roles later on. E-commerce startups such as Grofers and Flipkart are leading the market for summer internships. Management has been the hottest sector to enroll for internships, at nearly 47%. This is more relevant than ever as companies seek people with real-time experience, according to <a href="https://www.businessinsider.in/internships-in-india-on-the-rise-with-startups-leading-the-way/articleshow/67655265.cms">online training and internship platform Internshala.</a> Management graduates from top business schools such as Management Development Institute, Gurgaon, Tata Institute of Social Sciences (TISS), Mumbai, Indian Institute of Management (IIM), Kozhikode saw a rise in the number of internships and average stipend as compared to last year. Management Development Institute, Gurgaon saw a 10% rise in average stipend at ₹231,000 for two-months. “Summers are important opportunities to spot future talent, so companies don’t risk missing out even if the overall sentiment is sluggish,” Kanwal Kapil, dean of placements at MDI Gurgaon <a href="https://economictimes.indiatimes.com/jobs/ecommerce-is-coolest-place-for-summer-internship/articleshow/71485727.cms?from=mdr">told </a>ET. According to the ET report, the average stipend for two-month summer internship increased from ₹204,000 to ₹208,000 at TISS, Mumbai while it decreased to ₹168,000 compared to 171,000 last year at IIM, Kozikhode. Highest paymasters FMCG (Fast Moving Consumer Goods) and e-commerce companies are the top paying sectors for internships. While L’Oreal was the highest paying employer at ₹ 320,000 at MDI, e-commerce companies like Amazon, Flipkart, and Grofers rolled out the maximum internship offers across these management schools. “The focus is to bring the best talent. We see any softening of hiring by our traditional on-campus competitors as an opportunity to further strengthen our talent pool,” said Rahul Guha, Managing Director of the <keyword id="136162" type="COMPANY" weightage="20" keywordseo="Boston-Consulting-Group">Boston Consulting Group</keyword>, which plans to hire over 100 interns across locations in India. According to the All India Management Association (AIMA), only 60% of students of a total of 360,000 who enroll in post-graduate courses land a <a href="https://www.businessinsider.in/warning-do-not-apply-to-b-schools-that-dont-offer-access-to-internships/articleshow/70476474.cms">management job</a>. See also: <a href="https://www.businessinsider.in/warning-do-not-apply-to-b-schools-that-dont-offer-access-to-internships/articleshow/70476474.cms">Warning! Do not apply to B-schools that don't offer access to internships</a> <a href="https://www.businessinsider.in/aicte-awards-for-top-colleges-and-organisations-with-best-internships/articleshow/70834885.cms">The top Indian colleges and organisations for internships, awarded by AICTE</a> <a href="https://www.businessinsider.in/education/news/coursera-launches-campus-product-to-integrate-online-learning-with-university-lessons/articleshow/71433652.cms">Coursera launches campus product to integrate online learning with university lessons</a>

India’s top b-school graduates are being paid over ₹2 lakh for summer internships

<ul><li>Shares of fast moving consumer goods company fell 5% after the company reported lower than expected volume growth along with cautious commentary.</li><li>The company reported 9% year-on-year growth in net profit to ₹2,187 crore as against ₹2,009 crore in the same quarter last year.</li><li>Further, the company said they remain cautiously optimistic about demand recovery.</li></ul>Shares of consumer goods company <keyword id="6365619" type="General" weightage="20" keywordseo="hindustan-unilever" source="Orion">Hindustan Unilever</keyword> (HUL) fell as much as 5% on Tuesday after the company reported its September quarter earnings. Although the company reported 9% year-on-year growth in net profit to ₹2,187 crore as against ₹2,009 crore in the same quarter last year, investors were disappointed on lower than expected volume growth. The company delivered 4% year-on-year volume growth in the July-September quarter lower than estimates of 5-7%. Food segment that includes products like Horlicks, Kissan, Bru, Kwality Wall’s saw a slowdown in revenue growth. Food segment grew only 7% in the September quarter as against 12% in the June quarter. Hindustan Unilever attributed the dull growth in the food segment to reasonably high sales in the previous quarters. <div type="image" title="HUL cchart" height="900" width="1200" msid="87136921" hostid="261"></div> The company has declared a dividend of ₹15 per share in this quarter. Adding to it, the company gave a cautious remark on the demand recovery. “Looking forward, we remain cautiously optimistic about demand recovery,” said Sanjiv Mehta, chairman and managing director of HUL. Meanwhile, muted consumer sentiment with rising inflation bothered the (fast moving consumer goods) FMCG major. “September quarter witnessed a sequential improvement in trading conditions, albeit remained challenging with unprecedented levels of input cost inflation and subdued consumer sentiments,” added Mehta in a statement to stock exchanges. Cautions comments by HUL will impact the outlook for the sector and competing players like <keyword id="75190" type="General" weightage="20" keywordseo="nestle" source="Orion">Nestle</keyword>, <keyword id="6359432" type="General" weightage="20" keywordseo="britannia" source="Orion">Britannia</keyword>, and <keyword id="6357073" type="General" weightage="20" keywordseo="itc" source="Orion">ITC</keyword>. Shares of other FMCG players also ended lower on October 19. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">FMCG companies </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;">Stock change on October 19 </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;">ITC </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;">-6% </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;">Nestle </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;">-0.2% </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;">Marico </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;">-0.6% </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;">Britannia </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;">-0.9% </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;">Dabur </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;">-1% </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/iex-lt-infotech-ttk-prestige-and-two-other-stocks-that-have-ignored-the-market-mood-to-hit-a-one-year-high/slidelist/87132594.cms">IEX, L&amp;T Infotech, TTK Prestige and two other stocks that have ignored the market mood to hit a one-year high</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/news/dmart-is-continuing-to-do-what-it-knows-best-but-the-street-wants-more/articleshow/87113806.cms">DMart is continuing to do what it knows best but the street wants more</a>

Horlicks and Boost maker HUL sees slowdown in food segment in the last three months

<ul><li>The consumer pharma major <keyword id="143013" type="COMPANY" weightage="20" keywordseo="GlaxoSmithkline-Consumer-Healthcare">Glaxosmithkline Consumer Healthcare</keyword> GSK’s decision to dump its holding in <keyword id="6365619" type="COMPANY" weightage="20" keywordseo="hindustan-unilever">Hindustan Unilever</keyword> (<keyword id="44863" type="DOMAIN" weightage="20" keywordseo="HUL">HUL</keyword>) sparked a selling spree in the last one week. </li><li><keyword id="119621" type="COMPANY" weightage="20" keywordseo="Societe-Generale">Societe Generale</keyword>, which is a French investment company, bought 12.9 million shares of HUL. </li><li>And that led to a 3% rally on Friday at 11:40 am, according to Bombay Stock Exchange (BSE). </li><li>The company witnessed a 7% decline in sales volume between Jan-March 2020 and that came as a shocker for investors.</li></ul>The investors in India’s largest consumer staples company Hindustan Unilever (HUL) have recovered from a short-lived panic attack. Aside from disappointing earnings, the consumer pharma major <keyword id="78710" type="COMPANY" weightage="20" keywordseo="GlaxoSmithKline">Glaxosmithkline</keyword> Consumer Healthcare’s (GSK) decision to dump its holding in HUL, sparked a selling spree in the last one week. With its merger with GSK, Hindustan Unilever was set to become the biggest food company in India. However, as the HUL share price plunged, a new investor, Societe Generale, which is a French investment bank, was waiting to lap up GSK’s offer. Investors are ready to pay higher prices now, given the future growth expectations. And that led to a 3% rally on Friday at 11:40 am. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/2299205" data-url="https://flo.uri.sh/visualisation/2299205/embed"></div>]]></cdata></div> Societe Generale bought <a href="https://www.business-standard.com/article/markets/hul-surges-4-after-societe-generale-buys-1-29-crore-shares-via-bulk-deal-120050800300_1.html">12.9 million shares of HUL</a> priced at ₹1,902. This came after GSK dropped its 5.7 per cent stake in the Indian fast-moving consumer goods major, amounting to nearly ₹25,480 crore (nearly $3.3 billion). <div type="Article" hostid="261" msid="75621896" title="Top ten Indian stocks that can gain another 10%-30% even after the April rally, according to Macquarie" mstype="2" mssubtype="0"></div> ‘<keyword id="1157853" type="PERSON" weightage="20" keywordseo="HUL-shares">HUL shares</keyword> can rally another 18% in the next one year’ HUL has always been one of the most valued companies in India, based on price-to-earnings ratio ⁠— a valuation metric that indicates the price that an investor is willing to pay for every rupee of profit earned by the company. Based on that, the recent sell-off has made India’s fast-moving consumer goods giant even more attractive at these levels. Therefore, another investment bank Macquarie has put HUL as one of the top ten stocks that investors should buy with a target price of ₹2,500 (an implied gain of over 18% compared to the closing price on May 5 when the report was compiled). <div type="Article" hostid="261" msid="75615861" title="ICICI Bank’s earnings on May 9 will reveal the level of economic damage caused by COVID-19 at the level of small borrowers" mstype="2" mssubtype="0"></div> The earnings debacle that led to the recent correction in HUL India only shut down its economy on March 25; shops were open for nearly the entire quarter except for the last week. Even after that, people were hoarding, panic buying essentials every few days as the lockdown continued to extend, and is now scheduled to end on May 17. Several HUL products fall under essentials like sanitizers and hand wash in its brands. However, there was a larger downtrend as the weakness in demand became increasingly clear. In the last one month, the shares of India’s largest fast-moving consumer goods major slumped by 16% — since April 8. A lot of it has to do with a <a href="https://www.businessinsider.in/business/news/hul-fourth-quarter-earnings-report-volume-growth-and-share-price-chart/articleshow/75472021.cms">7% decline in sales volume</a> between Jan-March 2020 and that came as a shocker for investors. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/2250243" data-url="https://flo.uri.sh/visualisation/2250243/embed"></div>]]></cdata></div> If one week's lockdown could cause a 7% fall in volume growth, investors fear about what six weeks can do.<a href="https://www.businessinsider.in/stock-market/news/when-warren-buffett-feels-fear-global-markets-quake/articleshow/75538855.cms"> Investors in HUL lost over $3.5 billion</a> as the stock slumped over 5% on May 4 and 5. Now that the expectations of a weak performance is priced in, and the fact that investors are looking for safe bets at a time when the economy and market is in the grip of a crisis, the shares of HUL seem to be attracting buyers again. See also: <a href="https://www.businessinsider.in/stock-market/news/when-warren-buffett-feels-fear-global-markets-quake/articleshow/75538855.cms">When Warren Buffett feels 'fear', global markets quake</a> <a href="https://www.businessinsider.in/policy/economy/news/hul-ceo-had-hoped-for-a-v-shaped-economic-recovery-from-covid-19-crisis-but-investors-fear-a-lot-worse/articleshow/75547375.cms">HUL CEO had hoped for a V-shaped economic recovery from COVID-19 crisis ⁠— but investors fear a lot worse</a> <a href="https://www.businessinsider.in/finance/news/sbi-share-price-and-hdfc-bank-share-value-comparison/articleshow/75535265.cms">SBI, India's largest bank, is only worth a third of HDFC Bank — and the COVID-19 lockdown is making it bleed even more</a>

HUL shares are red hot as investors look past recent hiccups

<ul class="summary-list"><li><a target="_blank" class="" href="https://www.businessinsider.com/category/fast-food">Fast-food restaurants</a> have debuted meal deals to win over inflation-weary diners.</li><li>But they haven't changed popular perception about whether fast food is good value, per a survey.</li></ul>2024 has become the year of <a target="_blank" class="" href="https://www.businessinsider.com/restaurants-are-competing-to-offer-the-cheapest-meals-2024-5">meal deals at fast-food</a> chains.Perhaps the highest-profile example is <a target="_blank" class="" href="https://www.businessinsider.com/mcdonalds-extends-value-meal-taste-test-2024-7">McDonald's $5 meal</a>, which the company said last month was drawing in more people to its restaurants.But it turns out that these hot deals aren't doing much yet to convince more people that fast food isn't <a target="_blank" class="" href="https://www.businessinsider.com/mcdonalds-expensive-prices-too-high-fast-food-restaurant-falling-sales-2024-7">expensive</a>.That's what <a target="_blank" class="" href="https://pro.morningconsult.com/analysis/fast-food-value-meal-qsr">a new survey by Morning Consult</a> released on Wednesday found. The survey asked consumers each month this year whether they considered several fast-food chains to be a "good value relative to their cost," Morning Consult said.In July, far more respondents said that fast food was good value than didn't — 43 percentage points more, in fact.But that's close to 10 percentage points less than in early 2020, before the pandemic and before inflation sent most food prices higher. The share of consumers who said they thought that fast food was a good value has declined in the four years since.Crucially, there's been almost no change over the last few months as restaurants started launching their cheap eats, according to the data."Unfortunately, these moves have yet to greatly change consumer perceptions of the industry's value," Lindsey Roeschke, a travel &amp; hospitality analyst with Morning Consult, told Business Insider.Fast-food chains have increased prices over the past two years as broader inflation drove the cost of many goods higher. The pace of increases has <a target="_blank" class="" href="https://www.businessinsider.com/inflation-consumer-price-index-in-july-fed-interest-rates-2024-8">since slowed</a>, but prices remain high for many consumers.The latest round of restaurant earnings showed brands from Starbucks to KFC posting falling quarterly same-store sales in the US, leading some analysts to say that <a target="_blank" class="" href="https://www.businessinsider.com/fast-food-price-rises-tipping-point-value-deals-combos-mcdonalds-2024-8">fast-food chains need to cut prices.</a>Several fast food chains have been touting value meals and menus this year. Taco Bell unveiled its new <a target="_blank" class="" href="https://www.tacobell.com/newsroom/taco-bell-enters-new-value-era-with-launch-of-new-cravings-value-menu">Cravings Value Menu</a> in January, including 10 items that cost $3 or less. Burger King also brought back its $5 value meal in May and plans to sell it through October.But the number of customers who said they were likely to purchase fast food in general still rose by less than a percentage point in July, Morning Consult also found.The diners surveyed, however, gave fast-food restaurants overall better marks for value than fast-casual chains such as Sweetgreen and Chipotle, Roeschke said, indicating that some customers might be choosing fast food over other options.McDonald's initially planned to sell its $5 meal for a month starting in late June. But the chain has since said that most of its restaurants will offer the deal through August.Joseph Erlinger, president of McDonald's USA, said on an earnings call in July that the deal is changing consumers' — especially low-income diners' — opinions of the chain's value. "It's really performed and done exactly what we wanted it to do," Erlinger said of the $5 meal.While there's evidence that <a target="_blank" class="" href="https://www.businessinsider.com/mcdonalds-meal-deal-led-to-bump-in-restaurant-visits-discounts-2024-7">McDonald's saw a lift in visits</a> after it started serving the $5 meal, it might take more than a promotion on the menu for a month or two to convince more diners that fast food is a good deal, Roeschke said."It's really hard to shift the perception of value that quickly," especially with the "overwhelming familiarity that people have with a brand like McDonald's," she said.Do you work at McDonald's or another fast-food restaurant chain and have a story idea to share? Reach out to this reporter at <a target="_blank" href="mailto:abitter@businessinsider.com">abitter@businessinsider.com</a>

McDonald's and Burger King's meal deals aren't changing fast food's pricey reputation

<table border="0" cellspacing="0" cellpadding="0"><tbody><tr><td colspan="2"><a href="https://static-ssl.businessinsider.com/category/chart-of-the-day"> </a></td></tr><tr><td><a href="http://www.businessinsider.com/category/chart-of-the-day"></a></td><td><a href="http://www.businessinsider.com/amazon-whole-foods-biggest-acquisitions-ever-chart-2017-6"></a></td></tr></tbody></table>If there's something you can buy over the internet, Amazon wants to be the company selling it to you.The company is already many people's go-to shop for books, electronics, appliances, home goods, and the like, but with its <a href="http://www.businessinsider.com/amazon-whole-foods-biggest-acquisitions-ever-chart-2017-6" target="_blank" rel="noopener noreferrer">$13.7 billion purchase of Whole Foods</a>, it's now making an enormous play at groceries.It's not hard to see why: Fresh groceries may be the largest category of consumer retail spending that's yet to be run over by online shopping. Just 1.4% of fast-moving consumer goods were bought online in the US last year, according to <a href="https://www.kantarworldpanel.com/global/News/Global-e-commerce-grocery-market-has-grown-15-to-48bn" target="_blank" rel="noopener noreferrer">Kantar Worldpanel</a> data charted for us by <a href="https://www.statista.com/chart/9884/e-commerce-share-of-fmcg-sales/" target="_blank" rel="noopener noreferrer">Statista</a>.In other words, there's a ton of room for growth. If it can find the right use for its newly-acquired real estate, Amazon would seem to be in the best position to start making online grocery shopping the new normal.Mike Nudelman/Business Insider/Statista <h3>NOW WATCH: <a href="http://www.businessinsider.com/worlds-tallest-mountain-not-mt-everest-2017-6">Mount Everest is not the tallest mountain in the world</a></h3> Please enable Javascript to watch this video

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