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<ul class="summary-list"><li>Investment firms want to offer private-credit ETFs to ordinary investors, the WSJ reported. </li><li>It would give retail investors access to a $1.7 trillion market. </li></ul>A booming corner of the financial markets that has only been available to institutions might soon be open to everyday investors. <a target="_blank" class="" href="https://www.wsj.com/finance/investing/wall-street-races-to-bring-private-credit-to-the-masses-8a25b624?mod=finance_lead_story">According to The Wall Street Journal,</a> some of the biggest private equity and investment management giants want to offer retail investors access to exchange-traded funds backed by private credit. The term broadly refers to loans made to companies and consumers by nonbank lenders. Historically, fund managers have sold "alternative assets" like private debt to institutional investors at a high cost, generating returns of around 10% in recent years — more than they would have seen from investing in the stock or bond markets.Now, as those institutions slow allocations to private credit, the biggest players in the space want to target a new class of investors. According to the Journal, firms like State Street, Apollo Global Management, and BlackRock are working to roll out private credit ETFs to regular investors. The challenge, though, is building a highly liquid ETF out of illiquid private loans. That hurdle is also what will likely draw the eye of regulators as they ensure the ETFs are appropriate for retail investors. But if these ETFs get approved, they will enable regular investors to tap into a booming market, one that BlackRock expects will more than double to $3.5 trillion by 2028. The race to launch private credit ETFs has heated up in recent months.In May, Capital Group and KKR teamed up to start offering funds investing in both public and private assets—including in private credit—starting next year.Last month, State Street proposed a private debt ETF to the Securities and Exchange Commission. The ETF would blend public debt with private debt on mortgage, corporate, and consumer loans purchased from Apollo Global Management. Anna Paglia, State Street's chief business officer, <a target="_blank" class="" href="https://investors.statestreet.com/investor-news-events/press-releases/news-details/2024/State-Street-Global-Advisors-and-Apollo-Global-Management-Join-Forces-to-Increase-and-Broaden-Investor-Access-to-Private-Markets/default.aspx">said in a statement</a> the ETF would "democratize access to private asset exposures," and make them "more accessible to a wider swathe of investors.""It is our goal to bring these investments to scale and help facilitate the process of making private assets more accessible and liquid over time. We see this as only the beginning of a new wave of innovation as public and private markets increasingly converge," Paglia said. Alternative assets make up a small share—less than 3%—of individual investors' global investments, KKR's head of Global Client Solutions Eric Mogelof, told the <a target="_blank" href="https://www.wsj.com/finance/investing/wall-street-races-to-bring-private-credit-to-the-masses-8a25b624">Wall Street Journal</a>.But he says there is huge potential for that share to grow by over three times. "We anticipate these allocations to rise to 10% or greater in the future," he told the Journal.

Investing giants want to offer retail traders access to a booming sector of financial markets

The <keyword id="21627536" type="General" weightage="100" keywordseo="gold-loan-market" source="keywords">gold loan market</keyword> in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> is on the cusp of substantial growth, driven by rising per-gram gold rates and increasing customer demand. Currently, the market is predominantly controlled by the <keyword id="21485305" type="General" weightage="20" keywordseo="unorganized-sector" source="keywords">unorganized sector</keyword>, which holds a 63 % share, while <keyword id="22789155" type="General" weightage="20" keywordseo="organized-players" source="keywords">organized players</keyword>, including banks and Non-Banking Financial Companies (<keyword id="19938300" type="General" weightage="20" keywordseo="NBFCs" source="keywords">NBFCs</keyword>), account for the remaining 37 %, according to a recent <keyword id="20055667" type="General" weightage="20" keywordseo="PwC" source="keywords" meta.keywordsubtype="org" meta.entityname="PwC" meta.hostid="83" meta.entityid="PwC">PwC</keyword> report. Indian households are estimated to possess approximately 25,000 tonnes of gold, valued at around Rs 126 lakh crore. Despite this vast wealth, the existing gold loan market through organized channels is valued at just Rs 7.1 lakh crore. With the market penetration of gold loans in India currently at only 5.6%, there is considerable untapped potential within <keyword id="22902023" type="General" weightage="20" keywordseo="household-gold-holdings" source="keywords">household gold holdings</keyword>. Although not all gold is available for pledging--due to factors such as religious significance, emotional value, or lack of financial need--there remains substantial opportunity for growth in the gold loan sector. The gold loan market in India has historically been dominated by the unorganized sector. However, in recent years, organised players, particularly NBFCs, have begun to gain market share. Banks, too, have been making inroads, especially through retail gold loans and a continued focus on agricultural gold loans. This shift is expected to continue as organised players leverage their formal lending structures, transparency, and customer trust to capture a larger share of the market. Shaji Varghese, CEO, Muthoot FinCorp Limited, "Gold loan assets have been growing steadily and the potential to grow further is high since a major part of the country's gold loan market is still in the unorganized sector. <keyword id="19910265" type="General" weightage="20" keywordseo="gold-prices" source="keywords">Gold prices</keyword> have been rising over the years. There is also a paradigm shift on how buying gold is perceived today. Traditionally gold was purchased for historical, cultural and societal reasons and while that continues, people have started buying gold as an investment and also as a convenient option to raise funds for financial requirements." India remains one of the world's largest consumers of gold, with total demand reaching 747 tonnes in 2023. However, this represented a 3% decrease compared to the previous year, primarily due to the surge in gold prices, which dampened demand for gold jewellery. The price of gold in India increased from Rs 55,375 to Rs 66,532 per 10 grams (22 carats) between November 2023 and May 2024, prompting a shift towards lightweight or lower-carat jewellery items. Globally, the demand for gold grew by 3 % in 2023, with China emerging as the largest market. The global market's expansion presents opportunities for Indian gold loan financiers to explore new avenues for growth beyond domestic borders. Gold's relationship with the US dollar is a key factor influencing gold prices in India. A weakening rupee often leads to an increase in gold prices, as gold is priced in USD internationally. This dynamic drives higher imports and increases the cost of gold in rupees, further fuelling demand as investors seek a safe haven against currency fluctuations. V.P. Nandakumar, Managing Director and Chief Executive Officer, Manappuram Finance Ltd, "Of late, the sharp increase in gold prices has imparted some stability to the gold loan book of most players and we do not expect gold prices to come down due to geo-political factors, the accumulation of gold by central banks as well as the lasting allure of the yellow metal." The securitisation of gold through various financial instruments offers new avenues for gold loan players to diversify their offerings. By using gold-based security as collateral, established players can introduce new loan products that leverage the intrinsic value of physical gold.

India's gold loan market set for rapid growth amid rising prices; unorganized sector holds 63% share, notes recent PwC report

<keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword>, under the leadership of <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>, showcased its vision for the future during the company’s Annual General Meeting (AGM) that was held today (August 29). During the AGM, <keyword id="19936674" type="General" weightage="20" keywordseo="reliance" source="keywords">Reliance</keyword> laid out ambitious plans that span across its diverse businesses. The conglomerate, which has interests ranging from oil to telecom to retail, is positioning itself as a key player in India’s growth story, with a particular focus on <keyword id="20239522" type="General" weightage="20" keywordseo="technological-innovation" source="keywords">technological innovation</keyword>, energy security, and retail expansion. <h2>Not chasing short-term profits</h2><keyword id="19898589" type="General" weightage="20" keywordseo="ambani" source="keywords">Ambani</keyword>, during his speech, said that Reliance is not merely chasing short-term profits but is dedicated to creating long-term wealth for the nation. He reiterated the company’s commitment to providing high-quality products and services that enhance the lives of Indian consumers. The chairman announced that the company’s board will consider issuing bonus shares on September 5, further rewarding shareholders as Reliance continues to grow. <h2>Transforming into a deep-tech company</h2>A major theme of the AGM this year was Reliance’s transformation into a deep tech company, with advanced manufacturing capabilities at its core. Ambani described this shift as essential to securing a place in the global top-30 companies in the near future. He highlighted the company’s strategic adoption of artificial intelligence (AI), calling it one of the most transformative events in human history. AI, he noted, opens up new avenues to address complex problems, making Reliance a net producer of technology. Reliance has been making significant strides in R&amp;D, with over ₹3,643 crore invested in FY24 alone, taking the total research expenditure to over ₹11,000 crore in the last four years. This investment is driving innovations in various areas, including bio-energy, solar power, green energy, and high-value chemicals. The company has also been active in digital research, filing patents in 6G, 5G, AI, and IoT, among others. Ambani assured that this tech-driven transformation would propel Reliance into a new phase of hyper-growth, multiplying its value in the coming years. <h2><keyword id="20337020" type="General" weightage="20" keywordseo="retail-business" source="keywords">Retail business</keyword> to double</h2>In addition to technological advancements, Reliance Retail, the company’s retail arm, is set to double its business in the next three to four years. Isha Ambani, Director of Reliance Retail, shared that the retail segment recorded a gross revenue of ₹3.06 lakh crore for the financial year ending March 31, 2024, marking a 17.8% growth over the previous year. The retail business has rapidly expanded, with Reliance opening 1,840 new stores in the past year, bringing the total to 18,836 stores across 79 million square feet of retail space. This growth has positioned Reliance Retail among the top-5 global retailers in terms of store count and among the top-10 in market capitalization globally. Isha Ambani emphasised that much of this growth is driven by a focus on smaller towns, where two-thirds of the new stores have been opened. Reliance Retail is also focused on creating high-quality, affordable products through its Consumer Brands business, which has seen the re-launch of popular brands like Campa, Lotus Chocolates, and Sosyo. Mukesh Ambani concluded by underscoring Reliance’s mission to provide energy security to India while also contributing to a cleaner and greener world. As the global landscape becomes increasingly uncertain, he expressed confidence in India’s role as a key growth engine in the global economy. The International Monetary Fund (IMF) projects that India will become the world’s third-largest economy by 2027, surpassing Japan and Germany. Ambani affirmed that Reliance will continue to be a driving force in India’s march toward becoming a developed nation.

Reliance AGM 2024: Company aims to double retail business, Mukesh Ambani says not pursuing short-term profit

With <keyword id="19899402" type="General" weightage="20" keywordseo="digital" source="keywords">digital</keyword> adoption fast gaining currency, <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> is likely to see <keyword id="19992513" type="General" weightage="20" keywordseo="retail" source="keywords">retail</keyword> <keyword id="19989657" type="General" weightage="20" keywordseo="digital-payments" source="keywords">digital payments</keyword> double to USD 7 trillion by 2030 from current levels, a study by Kearney and <keyword id="19942875" type="General" weightage="20" keywordseo="Amazon-Pay" source="keywords" meta.keywordsubtype="org" meta.entityname="Amazon Pay" meta.hostid="153" meta.entityid="Amazon Pay">Amazon Pay</keyword> said. In the report 'How Urban India Pays', Kearney-Amazon Pay said strong adoption of digital payments in <keyword id="21056201" type="General" weightage="20" keywordseo="online-purchases" source="keywords">online purchases</keyword> has potentially led to a permanent shift in consumer behaviours, fuelling offline adoption as well. While 90 per cent of the respondents of the survey preferred digital payments when making online purchases, affluent consumers lead the way with the highest Degree of Digital Payment Usage (DDPU), tending to use various modes of digital payment for 80 per cent of their transactions. "<keyword id="19955338" type="General" weightage="20" keywordseo="millennials" source="keywords">Millennials</keyword> and Gen X are leading in the adoption of all types of digital payment instruments," it said. "Men and women both use digital payments in about 72 per cent of their transactions, indicating gender parity." The research was based on an online survey of over 6,000 consumers along with more than 1,000 merchants through offline and online methods across 120 cities with representation from various regions, income groups, city categories, age brackets and genders. India has seen a surge in <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword>, with the market valued at USD 75 billion to USD 80 billion in 2022 and expected to grow at a 21 per cent CAGR until 2030. "In line with India's digital journey, retail digital payments have grown dramatically over the past five years - from USD 300 billion in FY18 to USD 3.6 trillion in FY24. By FY30, they are likely to double to USD 7 trillion," the report said. The Unified Payments Interface (<keyword id="19900911" type="General" weightage="100" keywordseo="UPI" source="keywords">UPI</keyword>) has been a key driver of this growth, demonstrating a CAGR of 138 per cent in its volumes during FY18-24. Other instruments such as cards and digital wallets are also gaining in popularity, contributing 10 per cent of digital transaction value today. "With such dynamic developments, it is no wonder that India is a global frontrunner in the digital payment landscape, accounting for a stellar 46 per cent of the global digital transaction volumes in 2022," it said. Digital payments have penetrated small towns, with respondents in these areas highlighting that 65 per cent of their transactions are digital, while respondents in larger cities cited this ratio to be 75 per cent. "There is a strong correlation between a city's average DDPU and its retail potential, as measured by the Kearney India Retail Index, with the top six metros displaying both high DDPU and high retail potential," the report said. DDPU surpasses retail potential in some cities such as Lucknow, Patna, Bhopal, Jaipur, Bhubaneswar, Indore, Ahmedabad and Pune, which have a high DDPU nearly matching that of larger metropolitan cities despite having a lower retail potential than the top six metros. The report said co-branded credit cards are gaining momentum. "Emerging methods such as buy now, pay later (BNPL), wearable payments and voice assistant-based payments are also starting to make inroads." Digital modes of payment constitute around 69 per cent of the total transaction volumes for the Indian merchants that were surveyed. Even street vendors such as paan shops, fruit and flower sellers, food stalls, and kirana stores are joining the digital payment brigade. "Challenges for merchant adoption mirror consumer concerns, emphasizing issues of financial fraud, limited connectivity and trust," it said. The report said the next wave of growth in digital payments will be fueled by increasing penetration in segments with lower DDPU, such as consumers in lower-income groups and smaller towns, along with enhancing the value of spending via digital modes of payment in the higher DDPU segments by addressing their concerns. "All key stakeholders across the digital payments' ecosystem, including payment providers, the government, and value-added services players, will need to play a part in expanding digital payment adoption," it said. The focus areas should be empowering communities with financial education by launching target programmes to boost awareness of digital payments and new methods such as UPI Lite and UPI Lite X, especially for aspiring consumer segments, women in small towns, and street commerce merchants, to encourage higher adoption. Also, there is a need to create user-friendly consumer journeys by streamlining documentation and know-your-customer (<keyword id="19910870" type="General" weightage="20" keywordseo="kyc" source="keywords">KYC</keyword>) processes, optimising user interfaces, and establishing responsive customer complaint resolution mechanisms, it said adding also there is a need to enhance digital infrastructure by addressing systems and network issues and exploring innovations such as UPI Lite X for areas with limited internet. Also, the risk of fraud has to be minimised and access to credit-based payment methods expanded by using alternate data for underwriting risk, developing innovative credit products and promoting credit education for financial health. "These areas can help India overcome challenges in the digital payment ecosystem by fostering a more inclusive, secure, and user-friendly environment, thereby enhancing the adoption of digital payments among consumers and merchants in India," it added.

India to see retail digital payments to double to USD 7 tn by 2030: Report

<ul><li><keyword id="20313645" type="General" weightage="20" keywordseo="retail-leasing" source="keywords">Retail leasing</keyword> in the sector is expected to sustain at 6-6.5 million square feet in 2024, says CBRE.</li><li>By the year-end, 5-6 mn. sq. ft. of investment-grade mall space will become operational in <keyword id="21259569" type="General" weightage="20" keywordseo="tier-I-cities" source="keywords">tier-I cities</keyword>.</li><li>Domestic brands are expected to turn cautious, but <keyword id="20322579" type="General" weightage="20" keywordseo="global-brands" source="keywords">global brands</keyword> are continuing to expand, according to the report.</li></ul><keyword id="20020606" type="General" weightage="20" keywordseo="Indian-brands" source="keywords">Indian brands</keyword> are turning cautious with their retail expansion. Hence, the leasing in the sector is expected to sustain at 6-6.5 million square feet in 2024, according to the latest report by the commercial real estate firm CBRE. The saturation follows the remarkable growth in 2023, as brands absorbed a little over 7 million sq ft. The supply environment in terms of retail space like malls and high streets is also expected to be stable in the current year. By the year-end, 5-6 mn. sq. ft. of investment-grade mall space will become operational in tier-I cities. “Retailers, including anchor tenants and established brands, are expected to proceed cautiously with expansion plans. They will prioritize locations with high visibility, strong foot traffic and favourable consumer demographics. As a result, rental growth is expected to rationalize across both primary and secondary locations,” the report says. But, there is a silver lining! Luxury and premium brands, especially global brands, are choosing to spread their wings in top cities despite the global macroeconomic and sectoral challenges. “Foreign luxury retailers are entering India through partnerships with local players. The upcoming launches of a few brands underline this trend. This reflects a renewed optimism in India's <keyword id="71937" type="General" weightage="20" keywordseo="retail-sector" source="Orion">retail sector</keyword>,” said Ram Chandnani, managing director, advisory &amp; transactions Services, CBRE India. Retail demand across investment-grade malls, prominent high streets and standalone developments has grown consistently since 2020. Tier-I cities remain key expansion hubs, and promising tier-II markets are attracting new players. Malls are transforming into experiential centres, offering a mix of entertainment, dining and shopping. “Fuelled by pent-up demand and strategic expansion, India's luxury retail sector is experiencing a leasing boom, attracting both established brands deepening their presence and new international players entering the market. This expansion reaches beyond Delhi and Mumbai to the newer markets like Hyderabad and Ahmedabad,” said Anshuman Magazine, chairman &amp; CEO of India, South-East Asia, Middle East &amp; Africa, CBRE. In 2024, the home décor segment is likely to expand in both online and offline formats, while fashion and apparel players will continue expanding in tier-I cities across malls and high streets, the report adds. It also sees good traction from domestic jewellery brands as well as the entertainment category.

The luxe experience: Expanding global brands to drive retail leasing in 2024

<ul><li>Apparel, F&amp;B and hospitality chains flock to spiritual centres like Dwarka, Bodh Gaya and more.</li><li>The government’s initiatives to improve air, road and rail connectivity in these areas, are aiding the surge in footfalls.</li><li>Jefferies says that the most popular pilgrimage towns attract anywhere between 10 to 30 million tourists every year. </li></ul>India’s retail boom has reached its most key religious centres too. There is a <keyword id="20392659" type="General" weightage="20" keywordseo="spykar" source="keywords">Spykar</keyword> store in Somnath, while Shirdi’s tourists can now shop for FabIndia kurtas. You can spot a Blackberrys outlet in Bodh Gaya, and a Zudio in <keyword id="19901642" type="General" weightage="20" keywordseo="varanasi" source="keywords">Varanasi</keyword>. Food and beverage chains like Domino's, KFC and Burger King are not behind, establishing their presence even in isolated religious sites like Puri, Katra, Ajmer and more. While a lot has been said about the growth of retail and hospitality in Ayodhya, there has been a slow yet steady growth in retail chains’ expansion across pilgrimages in the country. “This trend reflects a broader shift in tourist preferences, with travellers seeking transformative experiences beyond traditional rituals. The rise of urban spiritual tourism is catering to this desire, attracting visitors to cities known for their deep religious and spiritual significance,” says a report by real estate consultancy CBRE. The report identifies Amritsar, Ajmer, Varanasi, Katra, Somnath, Shirdi, Ayodhya, Puri, Tirupati, Mathura, Dwarka, Bodh Gaya, Guruvayur, and <keyword id="19900587" type="General" weightage="20" keywordseo="madurai" source="keywords">Madurai</keyword> as key cities witnessing this retail boom. Retail brands are adapting their offerings at mall clusters as well as high-street locations. “Local governments and businesses are joining forces to create unique retail experiences. This includes integrating local practices into the design and offerings of shops, restaurants, and hotels,” says CBRE. Cities like Amritsar, Varanasi, Madurai, Puri, Guruvayur, etc. are leveraging their unique culinary traditions and local fashion expertise to give tourists a taste of town beyond spirituality. Infrastructure growth aids surges in spiritual tourism As per a report by Jefferies, the most popular religious centres in India attract an annual tourist traffic of 10-30 million despite the existing infrastructural bottlenecks. And, most such cities are now undergoing an infrastructural upgrade — which will bolster their growth. The state and central governments are working on well-connected roads, airports, and public transportation. It’s also aiding the development of hotels, guesthouses, and wellness centres to ensure a comfortable stay for the tourists. “The rapid expansion of spiritual tourism in India is driving the growth of the country's faith-based tourism market. Government initiatives to promote tourism and improve connectivity between pilgrimage sites are further boosting this growth. The rise of online retail platforms offering easy access to faith-based products and services is also a key factor,” says <keyword id="20177586" type="General" weightage="20" keywordseo="anshuman-magazine" source="keywords">Anshuman Magazine</keyword>, chairman &amp; CEO - India, South-East Asia, Middle East &amp; Africa, CBRE. While Jefferies expects footfalls to average 50 million in Ayodhya, other pilgrimage centres too are growing fast. “India boasts of a wide diversity of tourism types including historic monuments, culture &amp; heritage, beaches, hill stations and more. Religious tourism is still the biggest segment of tourism in India,” it adds. Along with retail chains, high-end hospitality brands are making their inroads into these cities. Apart from Taj, ITC, Lemon Tree, Novotel, <keyword id="21111452" type="General" weightage="20" keywordseo="j-w-mariott" source="keywords">J W Mariott</keyword> and Mayfair are some of the chain brands that are setting up boutique as well as experiential hotels in these cities. “Major hotel chains are adapting to the evolving preferences of spiritual tourists, offering clean, hygienic, and family-friendly accommodations that command premium pricing. Branded hotels are emerging as key players, offering a blend of comfort and traditional hospitality tailored for spiritual seekers,” says CBRE.

Retail, real estate and religion: Spiritual hotspots brace for a tourism boom

<ul class="summary-list"><li>Spencer Kieboom, a former pro baseball player, is a cofounder and the CEO of Pollen Returns.</li><li>The company helps online retailers recover their goods sooner to speed up the returns process.</li><li>This can reduce the amount of inventory companies need, which is better for the planet.</li></ul>Spencer Kieboom likes solving problems more than anything else. He is a cofounder and the CEO of <a href="https://newsletter.businessinsider.com/click/31006067.2485/aHR0cHM6Ly9wb2xsZW5yZXR1cm5zLmNvbS8/61d1df3fda927262960fbe9dB74831ba9" target="_blank" rel="noopener">Pollen Returns</a>, a logistics startup that helps retailers take back the things we order online and then decide we no longer want.Kieboom, who was a catcher with the Washington Nationals from 2016 until 2019, told Insider that after he retired from the MLB, he began wondering why companies handled their returns the way they did. What he found was a mess.<div type="image" title="Spencer Kieboom" height="270" width="359" msid="99125162" hostid="261" sizebytes="5106"></div>He said many companies had more than 20% of their inventory caught up in the returns process. That's not good for business — or the planet — because it can force companies to overproduce goods so they have enough on hand. And returns that show up at a warehouse late might miss an often narrow window for being sold again."It's been left to a policy, and a policy is not a solution. The policy is a Band-Aid," Kieboom said. Up to 9.5 billion pounds of returns in the US wound up in landfills last year. It's the equivalent to 10,500 fully loaded Boeing 747s, <a href="https://newsletter.businessinsider.com/click/31006067.2485/aHR0cHM6Ly93d3cuYnVzaW5lc3NpbnNpZGVyLmNvbS9yZXR1cm5zLXRvLXJldGFpbGVycy1zZW50LXRvLWxhbmRmaWxscy0yMDIzLTIjOn46dGV4dD1hZHZhbnRhZ2UlMjB3b3J0aCUyMGd1YXJkaW5nLi0sQWNjb3JkaW5nJTIwdG8lMjBhbiUyMGVzdGltYXRlJTIwYnklMjB0aGUlMjByZXR1cm5zJTIwdGVjaCUyMHBsYXRmb3JtJTIwT3B0b3JvLDEwJTJDNTAwJTIwZnVsbHklMjBsb2FkZWQlMjBCb2VpbmclMjA3NDdzLg/61d1df3fda927262960fbe9dB90f0cec0" target="_blank" rel="noopener">Insider previously reported</a>. Kieboom's drive to use information for solving problems — he said he'd always sought more data to improve <a href="https://newsletter.businessinsider.com/click/31006067.2485/aHR0cHM6Ly93d3cubWxiLmNvbS9wbGF5ZXIvc3BlbmNlci1raWVib29tLTU3MTg1MQ/61d1df3fda927262960fbe9dBc01885f6" target="_blank" rel="noopener">his game</a> — led him to question how he might make it more efficient for e-commerce companies to recover customers' cast-offs. "It just so happens that I chose the underbelly of retail, which is returns, which feels a lot like being a backup catcher," Kieboom, who's 32, said.It's quite the sizable underbelly: The National Retail Federation estimated that consumers returned <a href="https://newsletter.businessinsider.com/click/31006067.2485/aHR0cHM6Ly9ucmYuY29tL21lZGlhLWNlbnRlci9wcmVzcy1yZWxlYXNlcy8yMDIyLXJldGFpbC1yZXR1cm5zLXJhdGUtcmVtYWlucy1mbGF0LTgxNi1iaWxsaW9u/61d1df3fda927262960fbe9dBf9d1e319" target="_blank" rel="noopener">about 16.5% of online orders</a> last year. The trade group said that in 2022, that percentage was in line with the share of goods customers took back to brick-and-mortar stores. During the depths of the pandemic, return rates were higher for online orders because so many of us were shopping from home.Pollen Returns, based in Atlanta, works with businesses around the US by dispatching a driver for a ride-hailing service who can pick up all the returns within a few blocks of each other that are going to a particular retailer. The driver then takes those returns, even if they're not in a box, to a shipping center so a batch can go back all at once. That can reduce the volume of cardboard that gets used in the return process. And grouping items to be returned in a bundle is more efficient.This approach, Kieboom said, helps reduce the carbon footprint of shipping and gets returns back to retailers faster so companies know where their inventory is and how much more they need to create.Making the returns process more efficient can help retailers plan better, Kieboom said. Under the existing setup, a customer starts a return, but the retailer often doesn't know when — or even whether — that package will make it back. "If I don't know when something's coming, how can I plan and predict my actual inventory needs? I can't," he said. "So I have to manufacture and I have to produce more."

A former pro baseball player is trying to make online returns easier on retailers — and the planet

<ul class="summary-list"><li>Retail investors have been pivoting to pharma names like Eli Lilly in the last week, JPMorgan said. </li><li>The makers of popular obesity drugs have seen their stock prices soar in recent months. </li></ul>Retail traders were net sellers of most stocks that make up the Magnificent Seven last week, with focus shifting to pharmaceutical names like Eli Lilly, JPMorgan said in a note on Wednesday. Individual traders sold $1.4 billion worth of individual stocks in the past week, dumping titans like Tesla, Apple, Alphabet, and Microsoft, according to JPMorgan analysts. While Nvidia still looks to be a cash magnet for the retail cohort, inventors' focus shifted in the last week to big pharma players like Eli Lilly, Pfizer, and Novo Nordisk, the note said. Retail investors poured $4.7 billion into funds as they were net sellers of single-name stocks, the bank said.Individual traders' appetite for pharma stocks comes as companies including Eli Lilly and Novo Nordisk see a wave of bullish commentary around the impact of obesity drugs that have soared in popularity in the last year. <a href="https://markets.businessinsider.com/news/stocks/eli-lilly-stock-outlook-weight-loss-drug-bofa-upgrade-glp1-2024-3?_gl=1*10jffoq*_ga*OTcwMzM1Nzc1LjE3MDk3NjQ4NzI.*_ga_E21CV80ZCZ*MTcwOTgxODY2Ni43LjAuMTcwOTgxODY2Ni4wLjAuMA..">Eli Lilly this month was given a street-high price target of $1,000 per share</a> from Bank of America, signaling a potential upside of 30%. The drug maker's GLP-1 weight loss drug is poised for success, the bank said, projecting over $60 billion in sales by 2030.With the Centers for Disease Control and Prevention putting the <a href="https://www.cdc.gov/obesity/data/adult.html" target="_blank" rel="noopener">US obesity rate at around 40%</a>, drugs from Eli Lilly, Novo Nordisk, and Pfizer are expected to keep soaring in popularity in the coming years, and analysts have said they predict their use could<a href="https://www.businessinsider.com/weight-loss-stocks-supplying-developing-drugs-like-ozempic-list-2024-3#1-amylin-1"> jump from 1% to 15%</a> of Americans taking these drugs by 2035.Meanwhile, the AI-driven frenzy has shown some signs of cooling recently. Goldman Sachs said in late February that <a href="https://markets.businessinsider.com/news/stocks/nvidia-stock-tech-stocks-hedge-funds-nvda-earnings-goldman-2024-2?_gl=1*wzfm82*_ga*OTcwMzM1Nzc1LjE3MDk3NjQ4NzI.*_ga_E21CV80ZCZ*MTcwOTgxODY2Ni43LjEuMTcwOTgyMDQzMi4wLjAuMA..">hedge funds were selling tech stocks at the fastest pace</a> in seven months, following a six-week buying streak leading up to Nvidia's quarterly earnings.Some have said recently that it may be time for the Magnificent Seven moniker to be retired. <a href="https://markets.businessinsider.com/news/stocks/us-tech-stocks-spx-forecast-nvidia-meta-magnificent-seven-label-2024-2?_gl=1*bz67fu*_ga*OTcwMzM1Nzc1LjE3MDk3NjQ4NzI.*_ga_E21CV80ZCZ*MTcwOTgxODY2Ni43LjEuMTcwOTgyMDMyMC4wLjAuMA..">Mike O'Rourke</a>, the analyst who coined the term, has noted that their fortunes have diverged sharply in recent months and that they can no longer be thought of as a single cohort.

Retail traders have been ditching the Magnificent 7 for pharma stocks like Eli Lilly, says JPMorgan

Demand for industrial and <keyword id="108235" type="General" weightage="20" keywordseo="logistics" source="Orion">logistics</keyword> spaces hit an all-time high across eight major cities last year with <keyword id="117877" type="General" weightage="20" keywordseo="leasing" source="Orion">leasing</keyword> activity rising annually by 8 per cent, according to <keyword id="20060150" type="General" weightage="20" keywordseo="cbre" source="keywords">CBRE</keyword>. In its latest report, <keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">real estate</keyword> consultant CBRE said that the leasing of industrial and logistics spaces rose to 38.8 million square feet in 2023 from 36 million square feet in the previous year driven mainly by demand from third-party logistics (3PL) companies. Anshuman Magazine, Chairman &amp; CEO, India, Southeast Asia, Middle East &amp; Africa, CBRE, said, "As we envision the future of the industrial and logistics sector, this robust growth is a testament to the sector's resilience despite global economic challenges." Leasing activities across the top eight cities remained robust in 2023, showing a steady annual space occupancy, he said. "The leasing landscape in 2023 reflects a pronounced influence of 3PL players, commanding a substantial 45% share," Magazine said. The consultant noted that diverse industries, including <keyword id="35621" type="General" weightage="20" keywordseo="e-commerce" source="Orion">e-commerce</keyword>, <keyword id="6354851" type="General" weightage="20" keywordseo="retail" source="Orion">retail</keyword>, and <keyword id="6362048" type="General" weightage="20" keywordseo="manufacturing" source="Orion">manufacturing</keyword>, chose to outsource their supply chain operations to 3PL firms. This strategic move was aimed at meeting storage requirements, attaining increased flexibility, cost reduction, and overcoming challenges associated with labour sourcing. Engineering and manufacturing companies constituted 17 per cent of the total leasing activity. The proactive government policies and initiatives such as the Production Linked Incentive (PLI) scheme played a pivotal role in fuelling the growth of domestic engineering and manufacturing firms. Leasing of industrial and logistics spaces in Mumbai touched an all-time high, registering 9.9 million sq ft in 2023 as against 7.3 million square feet in the previous year. In Delhi-NCR, the demand fell to 7 million square feet last year from 9.4 million square feet during 2022 calendar year. Bengaluru saw a decline to 4.7 million square feet from 5.9 million square feet. Kolkata too witnessed a dip to 3 million square feet from 3.8 million square feet. However, in Hyderabad, the demand grew to 4.3 million square feet from 3.7 million square feet. Leasing of industrial and logistics spaces in Chennai increased to 6 million square feet from 3.9 million square feet. In Pune, the leasing went up to 1.7 million square feet from 0.7 million square feet. The demand for industrial and logistic warehousing spaces in Ahmedabad rose to 2.2 million square feet last year from 1.2 million square feet in the 2022 calendar year. "Driven by increased demand for high-quality spaces, restricted availability of quality supply in specific locations, and an escalation in land costs, rental values witnessed an annual rise in prominent micro-markets across cities, except in the case of Kolkata," CBRE said.

Industrial & logistics space demand hit record in 2023 at 38.8 mn sq ft in 8 cities: CBRE

Meet the 24 most promising retail tech power players revolutionizing how brands operate and customers buy online and in stores

<ul><li>Market is not rushing to downgrade <keyword id="17277356" type="General" weightage="90" keywordseo="jio-fin" source="Orion">Jio Fin</keyword> rivals just yet, despite its deep pockets and ability to disrupt.</li><li><keyword id="2003276" type="General" weightage="70" keywordseo="jio" source="Orion">Jio</keyword> Fin’s aggression in the unsecured loan business will decide how badly rivals will be impacted in times to come.</li><li>Given that cost of funds for JFS is expected to be significantly lower than other NBFCs, it can price its offerings much better than rivals in consumer finance. </li></ul> A behemoth was born on Monday with the listing of the financial services business of <keyword id="6355199" type="General" weightage="80" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> on the exchanges. With the listing of <keyword id="15323576" type="General" weightage="100" keywordseo="jio-financial-services" source="Orion">Jio Financial Services</keyword>, the obvious question is the impact that this entity will have on other listed financial services players because it will take them head on. The obvious assumption is that companies that currently are in the consumer and MSME lending space will be directly impacted. Jio Fin’s rich parentage and high capital base will be its biggest advantage. The net worth of the newborn is higher than its nearest competitor and this will enable it to build a large loan book much faster. But this may not be enough to win in the marketplace as it is a total novice when it comes to underwriting and execution. The market will closely monitor Jio Fin’s aggression in the consumer finance business before downgrading its competitors. For now, the jury is out. Like all other businesses that Reliance has set foot in, even in financial services the market is expecting two things – scale and mega disruption. The first segment that Jio is set to rock first is the lending space. Jio Financial Services ahead of its listing on 18 August released some details on the structure of the company and businesses it would operate in. Jio Financial Services is not just a systemically important non-banking financial institution but also a core investment company (CIC). The RBI has mandated the conversion of Jio Fin into a CIC and NBFC over the next three months. What this essentially means is that all the other businesses will operate under this holding company as subsidiaries. In time, all the subsidiaries could also be listed. The key businesses that Jio Financial Services will be present include: Reliance Retail Finance, Reliance Retail Insurance Broking, Reliance Payment Solutions, Jio Payments Bank, the Asset Management Company will be a joint venture with Blackrock. Reliance Industrial Investments and Holdings will be the sole beneficiary of the 6.1% stake in Reliance Industries. Jio Information Aggregator Services will pursue the account aggregator business, which is yet to commence. Jio Infrastructure Management Services will offer project management services. The first segment that Jio Fin seeks to aggressively pursue is retail lending. The dominant player in this segment is Bajaj Finance, which offers small ticket loans to consumers to buy consumer durables. This business has been mastered by Bajaj Finance over the last decade and a half by tying up with stores like Vijay Sales and Croma. This is where Jio will strike first. Reliance Retail has over 550 digital stores against 517 stores owned by its two rivals Croma (387 stores) and Vijay Sales (130 stores). In merchant lending, its focus is on financing options for merchants in grocery, digital, fashion and pharma formats. According to Nomura, the focus of its MSME lending business will be better geographic penetration. Jio Fin will seek to meet the borrowing needs of small businesses that often resort to high-interest informal channels for small-ticket loans. The company will enter into secured loans in the medium term. Over a period of time Jio Fin will offer unsecured loans too. Sources in the banking industry believe that the new entrant will disrupt the sector with differentiated and cheaper offerings as it can afford to do it because of its strong capital base. The cost of funds of JFS are expected to be significantly lower than other NBFCs. According to Morgan Stanley, “The consolidated entity is starting with a capital base of Rs 114.1 bn as of March 2023 (Rs 193.5 bn ex-book value of RIL stake). If it were to allocate this capital to the lending business, this would likely result in it being among the largest NBFCs by net worth. While this implies significant capacity to lend, we will need to see the pace and mode of execution (organic/inorganic). Hence, the market will closely watch every move JioFS makes.” While the markets believe that Jio will put technology and analytics at the heart of the business, building data will take time. Also, given the competition in the sector, borrowing by consumers is high and that is also leading to higher delinquencies. Therefore, the franchise that Jio builds will matter more than the scale of the loan book. The other issue that analysts see is the capital base of the new entity. Jio Fin as a consolidated entity has a capital base of Rs 114,100 crore or Rs 1.14 trillion as of March 2023 (Rs19,350 crore ex-book value of RIL stake). According to Nomura, if Jio Fin were to allocate this capital to the lending business, this would likely result in it being among the largest NBFCs by net worth. “While this implies significant capacity to lend, we will need to see the pace and mode of execution (organic/inorganic). Hence, the market will closely watch every move JioFS makes,” the report adds.

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