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Jade Lily wanted to show off her <a target="_blank" href="https://www.businessinsider.com/whole-foods-ceo-says-fate-of-food-business-gen-zers-2024-9">grocery haul</a>. In a recent <a target="_blank" href="https://www.tiktok.com/@jadeswildparty/video/7278376808557366570">video</a>, the 26-year-old TikToker held up item after item: celebrity-endorsed supplements, packaged berries, coconut yogurt, bone broth, kombucha, and premade food from the hot bar. Last but not least, a "little bevvy," she said, displaying her grape-flavored Olipop. "I am an Olipop girly till I die," she said.The groceries came from the upscale Los Angeles grocery chain Erewhon, known for its $19 smoothies created with the likes of Kourtney Kardashian and Katy Perry. Lily told her followers that the food cost $500. "These are all the things that I cannot live without," she said in the video.Increasingly, young people are hankering for pricey foods. In a McKinsey survey in February, <a target="_blank" href="https://www.businessinsider.com/millennials-gen-z-splurge-groceries-spending-inflation-gen-z-boomers-2024-4">groceries represented the top category</a> that Gen Z and millennial respondents said they planned to splurge on, outpacing restaurants, travel, and fitness; in 2017, Gen Xers <a target="_blank" href="https://www.businessinsider.com/average-grocery-spending-by-generation-in-the-united-states-2018-9">were the top spenders on groceries</a>, followed by boomers. Some 20-year-olds are <a target="_blank" href="https://www.thecut.com/2023/04/erewhon-addicts.html">taking on second and third jobs</a> to afford daily Erewhon trips. In June, <a target="_blank" href="https://institute.bankofamerica.com/content/dam/economic-insights/consumer-morsel-groceries-value-shop.pdf">Bank of America</a> reported that its Gen Z customers spent more at premium grocery stores than any other generation.Considering that regular grocery costs have been rising over the past few years, the trend is confounding. <a target="_blank" href="https://www.creditkarma.com/about/commentary/more-than-a-quarter-of-americans-are-skipping-meals-due-to-the-rise-in-grocery-costs">CreditKarma said</a> that in a survey it conducted in May, more than a quarter of respondents who said they had noticed that food prices were rising also said they had skipped meals to save money. Some Gen Zers, however, are leaning into the rising costs by prioritizing health foods and expensive snacks. Gone are the days of coveting the latest iPhone or designer handbag. Pricey snacks and fun drinks are the "It" items for many young consumers. Buying a $53 box of croissant-shaped cereal or a $45 tin of potato chips might seem outrageous, but they're still more affordable than a $2,000 bag.In other words, inflation is no match for Gen Z's love of little treats.After documentaries like "Super Size Me" and "Food, Inc." premiered in the 2000s, dietary concern spread like wildfire. Millennials kicked off a health-food craze with fads like avocado toast and grain bowls.The trend picked up steam with Gen Z. Millennials and Gen Zers are driving demand for vegetarian and vegan food. In a recent <a target="_blank" href="https://www.businessinsider.com/whole-foods-ceo-says-fate-of-food-business-gen-zers-2024-9">YouGov survey for Whole Foods</a>, 70% of Gen Z respondents indicated they were willing to pay more for high-quality foods. Since plant-based and organic options are often more expensive, it's not surprising that Gen Z's grocery bill would be adding up.Neeru Paharia, a professor of marketing at Arizona State University, said that when it comes to expensive groceries, "you can always find some health-related functional reason to spend the money on it." The generation's love of health-conscious foods is also a display of economic power. Since <a target="_blank" href="https://www.businessinsider.com/renting-vs-buying-homeownership-wont-make-genz-rich-increase-wealth-2024-7">buying a home is increasingly out of reach</a> and <a target="_blank" href="https://www.businessinsider.com/gen-z-changing-american-car-culture-2023-5">fewer young people have a driver's license</a> (<a target="_blank" href="https://www.businessinsider.com/genz-interest-tesla-brand-decreases-survey-should-worry-elon-musk-2024-8">let alone a fancy car to show off</a>), Gen Z is turning to a more affordable status symbol: their grocery cart. Andrea Hernández, the author of the newsletter Snaxshot, calls this the new lipstick effect — an economic theory that says consumers spend money on more-affordable luxuries, like lipstick, during economic downturns. "It's a form of affordable affluence," she said. "We're now getting into this phenomenon of food not as a basic need but as a luxury experience."To be sure, Gen Z isn't the first generation to serve up food as a status symbol. A <a target="_blank" href="https://www.nytimes.com/1986/04/02/garden/pure-food-the-status-symbol-of-the-decade-who-buys-it-the-affluent-and-the-aware.html">New York Times article</a> from 1986 titled "Pure Food: The Status Symbol of the Decade" quoted the food consultant and cookbook author Barbara Kafka as saying, "The food you purchase is a reflection of your position in society.'' She added: "It's a way to upgrade the image of yourself. It's a class thing and has a lot to do with upward social mobility.'' Gen Z is taking this to the next level.<a target="_blank" class="" href="https://www.businessinsider.com/photos-erewhon-grocery-store-shopping-expensive-health-foods-los-angeles-2022-12">Erewhon</a> is ground zero for this phenomenon. The <a target="_blank" href="https://www.businessinsider.com/erewhon-sells-40-000-hailey-biebers-strawberry-skin-glaze-smoothies-a-month-2023-12">store sells thousands of $19 smoothies</a> a month. The pastel-colored drinks feature an alphabet soup of ingredients: chlorella, spirulina, hemp, lucuma, maca, mesquite, xylitol, tocos. More importantly, they're ripe for social media: Videos reviewing the most popular options rack up hundreds of thousands of views. "Everything is content," Hernández said. "Everything has to signal something."Lily has <a target="_blank" class="" href="https://www.businessinsider.com/erewhon-visit-store-tour-photos-2024-2">shopped at Erewhon</a> for the past six years because of its supply of quality foods — she prefers organic, gluten-free, and whole foods to help manage an autoimmune disease. "Nowadays it's very trendy and maybe a little cringe to be so Goop/Erewhon coded, but at the end of the day I've always been this way," she told me. "Health is wealth, and food provides so much joy in every aspect, so maybe it says I'm a little bit of a hippie and dare I say a snob."To capitalize on the hype, Erewhon has partnered with celebrities like Hailey Bieber, Bella Hadid, and Sofia Richie to design smoothies. By buying a celebrity-sanctioned smoothie packed with collagen and sea moss, people can signal they have money to spend on being as healthy as these icons. "I like to call it gentrified groceries," Hernández said.The formula is working: Erewhon pulled in an estimated $171 million in profit last year, and <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-07-23/why-erewhon-s-more-profitable-brand-than-many-chain-grocery-stores">has said</a> it averages four times the annual revenue per square foot of other groceries.As young people seek out products that signal something about themselves, brands are increasingly playing into the trend. Nate Rosen, the author of the newsletter Express Checkout, pointed to the explosion of celebrity- and influencer-affiliated brands designed to signify clout. In the early 2000s, Mary Kate and Ashley Olsen championed McDonald's, and Beyoncé and Britney Spears backed Pepsi. Now Nina Dobrev and Shawn Mendes are backing SmartSweets, and Hailey Bieber is backing the chocolate brand Hu Kitchen. Niche, health-conscious brands that cater to Gen Z's various tastes are popping up everywhere. As the appetite for healthy food grows, more brands are positioning themselves as healthy options — regardless of whether they actually are.The beverage world is a great example. Prebiotic sodas, <a target="_blank" href="https://www.axios.com/2024/04/24/coke-pepsi-sodas-olipop-poppi-zevia-dr-pepper-sprite-cola-diet">Gen Z's favorite drink</a>, are giving the old-school soda giants Coca-Cola and Pepsi a run for their money. Brands like Poppi and Olipop leverage stars like Camila Cabello, promote prebiotic benefits and lower sugar content, and package their drinks in soft pastels with bubbly fonts. Everything's carefully designed to capture the eye of Gen Zers who want something healthy-looking to show off. The fact that <a target="_blank" href="https://www.businessinsider.com/poppi-soda-gut-health-claims-mislead-consumers-new-lawsuit-alleges-2024-6">Poppi is facing a class-action consumer-fraud lawsuit</a> alleging that it misrepresents the beverage's gut-health benefits is beside the point for many fans. In one <a target="_blank" href="https://www.tiktok.com/@jadeswildparty/video/7377458223877524778?lang=en">TikTok</a>, Lily drank her Poppi behind text that read, "I'm just a girl (idc about a class action lawsuit, I will still drink my Doc Pop Poppi no matter what)." In June, Poppi <a target="_blank" href="https://apnews.com/article/poppi-prebiotic-lawsuit-gut-health-30331ef5875e5b82caadef5090ba1195">told the Associated Press</a>, "We believe the lawsuit is baseless, and we will vigorously defend against these allegations." The success of <a target="_blank" class="" href="https://www.businessinsider.com/viral-canned-water-liquid-death-raised-9-million-in-series-a-funding-2020-2">Liquid Death</a> is another example of young people's willingness to drop money on a product to say something about themselves. The Los Angeles-based brand, which is essentially water in a can, was last valued at $1.4 billion, double its $700 million valuation in 2022. It's also considering an IPO. These drinks, Rosen said, are not just forms of sustenance but ways to express identity and values. A Liquid Death drinker might be a young festivalgoer or a 30-something who recently became sober but wants to maintain their edge. A Poppi girl, on the other hand, likes to have fun but also cares about her health. She orders a Caesar salad — with a side of fries.Much of this signaling takes place on TikTok, which spoon-feeds consumers the latest trends. For instance, cottage cheese is having a moment thanks to people's <a target="_blank" href="https://www.businessinsider.com/eating-more-protein-help-women-healthy-aging-positive-impact-2024-1">insatiable appetite for protein</a>. There are more than 100 million TikToks about the lumpy cheese, and brands have piggybacked on its popularity. Good Culture, a cottage-cheese brand, was already targeting younger people with its sustainability-focused branding when its product took off. Good Culture <a target="_blank" href="https://www.fastcompany.com/91170257/inside-the-brand-that-made-cottage-cheese-cool-again">told Fast Company</a> that it projected last year that its volume would grow by 35% but it ended up growing by 80%.With more labels to appeal to — keto, carnivore, gluten-free, plant-based — there are more markets for brands to corner. That's partly why the number of options in a grocery store has skyrocketed. In the 1990s, grocery stores would carry roughly 7,000 items; now it's closer to 50,000."When I was younger, there were some brands like Five Gum, Trident Layers, Lunchables — these were brands that showed some sort of status," Rosen, who is 28, said. "People will always use products as signalers. That's not going away. They'll just be different products."Today, there are vastly more options for people to use to signal their priorities. There are also more ways to share those choices. Before social media, showing off food preferences was relegated to the dinner party. These days, fridges, pantries, and grocery hauls are prime social-media fodder."All these things that used to be private are now public," Paharia said. People can carefully curate all types of consumer choices for an engaged audience. Are you a cold-pressed-juice, <a target="_blank" class="" href="https://www.businessinsider.com/kourtney-kardashian-is-launching-lemme-a-line-of-wellness-gummies-2022-9">Lemme-gummies</a> girl? Or a Fishwife-<a target="_blank" class="" href="https://www.businessinsider.com/tiktok-tinned-fish-trend-obsession-affordable-luxury-can-2023-10">tinned-seafood</a>, biodynamic-wine kind of person? I just have to check your Instagram story.<a target="_blank" rel="" href="https://www.businessinsider.com/author/eve-upton-clark">Eve Upton-Clark</a> is a features writer covering culture and society.

Gen Z's new status symbol: super-expensive snacks 

<ul><li>Tarsons Products is likely to announce its share allotment status today.</li><li>The grey market premium of the Indian labware company Tarsons Products has come down to ₹170 from ₹230 earlier.</li><li>The IPO of the company was subscribed 77.49 times on the last day of bidding.</li></ul>Indian labware company Tarsons Products is likely to announce the allotment status of its initial public offering (IPO) today, November 23. The IPO was open for subscription from November 15 to November 17. The company was looking to raise over ₹1,024 crore through the IPO of a fresh issue of equity shares worth ₹150 crore and an offer for sale (OFS) of 1.32 crore equity shares that will be sold by promoters and an investor <keyword id="12496770" type="General" weightage="20" keywordseo="tarsons-products-ipo" source="Orion">Tarsons Products IPO</keyword> received subscriptions for 77.49 times the number of shares offered in the three days of IPO bidding process. The grey market premium of the company’s shares show a premium of ₹170 from the higher end of the price band. The portion reserved for retail investors was oversubscribed by 10.56 times on the last day of the IPO bidding process. Tarsons Products is engaged in designing, developing, manufacturing and supplying a diverse range of quality labware products used in laboratories across research organisations, academic institutes, pharmaceutical firms, diagnostics companies and hospitals. Here is how to <keyword id="12587146" type="General" weightage="20" keywordseo="tarsons-products-ipo-allotment" source="Orion">Tarsons Products IPO allotment</keyword> status on stock exchange website: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select ‘Tarsons Products’.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted.</li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on ‘Tarsons Products’.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.</li><li>Enter the captcha and click ’submit’.</li></ul>Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/latent-view-ipo-may-list-on-a-positive-note-despite-a-weak-market/articleshow/87850476.cms">Latent View IPO that got bigger traction than Paras Defence may list on a positive note despite a weak market</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/paytm-ccd-reliance-power-have-had-the-worst-stock-market-debut/slidelist/87845689.cms">Paytm, Cafe Coffee Day and Reliance Power — here’s are the worst stock market debut ever</a>

Tarsons Products IPO: Here’s how you can check the allotment status

The department for promotion of industry and internal trade (<keyword id="19952901" type="General" weightage="20" keywordseo="DPIIT" source="keywords" meta.keywordsubtype="org" meta.entityname="DPIIT" meta.hostid="261" meta.entityid="DPIIT">DPIIT</keyword>) on Monday asked <keyword id="19957196" type="General" weightage="20" keywordseo="white-goods" source="keywords">white goods</keyword> manufacturers to participate in large numbers to avail fiscal benefits under the <keyword id="19952889" type="General" weightage="20" keywordseo="production-linked-incentive" source="keywords">production linked incentive</keyword> scheme for the sector as the response has been muted so far. Additional Secretary in the DPIIT Rajeev Singh Thakur said that the department has again reopened the application window for the PLI (production linked incentive) scheme for white goods (<keyword id="20360726" type="General" weightage="20" keywordseo="ACs" source="keywords">ACs</keyword> and LED lights). The application window is open from July 15 to October 12. "In the PLI in white goods scheme, somehow the response has been muted. ...Probably due to various reasons not sufficient response has come. So I request (the industry) to have a look and probably this time, you can consider (applying)," Thakur said at the CII Consumer Electronics and Durables Summit 2024 here. So far, 66 applicants with committed investment of Rs 6,962 crore have been selected as beneficiaries under the PLI scheme. The Union Cabinet had given approval for the PLI scheme for white goods for <keyword id="19914449" type="General" weightage="20" keywordseo="manufacturing" source="keywords">manufacturing</keyword> of components and sub-assemblies of Air Conditioners (ACs) and LED lights on April 7, 2021. The scheme is to be implemented over a seven-year period, from 2021-22 to 2028-29, and has an outlay of Rs 6,238 crore. He added that the department can hold talks with the industry separately on issues like quality control orders and logistics. Thakur told the industry that the time is right to increase investments into the country as the government has enhanced its capex and taken steps to promote <keyword id="19996629" type="General" weightage="20" keywordseo="ease-of-doing-business" source="keywords">ease of doing business</keyword>. The public capex in the last 10 years is growing at a fast pace in areas like highways, expressway, ports, airports and railways, but the commensurate response of the private sector "somehow is not up to the expectation", he said. Earlier speaking at the event, DPIIT Secretary Amardeep Singh Bhatia said that a lot of steps have been taken to promote ease of doing business, cutting down compliance burden and decriminalisation of minor offences. The government has also recently approved 12 industrial townships and the industry can look at investing there. He added that capital availability is not an issue now and the government has also provided protection to the industry from predatory imports. Schemes like PLI and semiconductor mission have been rolled out to promote manufacturing and "now we want the industry" to ensure that they have necessary collaborations in place for technology and investments. The industry should do collaborations not only to target the domestic market but also become part of global value chains. "That is an expectation we are having from the entire industry and I think industry will rise to meet these expectations... We have a huge demographic dividend and the industry should take advantage of this otherwise we will miss it," Bhatia added. He also said that there is no paucity of adequate skilled labour in the country and logistics costs too are coming down. On logistics, he cited examples of Amazon and Flipkart selling goods in the remotest part of the country. "I don't think industry should look at the current domestic demand only for collaborations. They should look at the future and export market also in addition to the domestic market," he said, adding expenditure on research and development is "abysmally" low and that needs to be enhanced. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-october-2024/slidelist/113809612.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-october-2024/slidelist/113809612.cms" target="_blank">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" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-october-2024/slidelist/113804125.cms" target="_blank">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" target="_blank"></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" target="_blank">KRN Heat Exchanger IPO allotment – Check allotment status, GMP, listing date and more</a>

Govt asks white goods industry to apply for manufacturing sops in large numbers

<ul><li><keyword id="12447226" type="General" weightage="20" keywordseo="tarsons" source="Orion">Tarsons</keyword> Products has received bids for 3.88 crore equity shares versus the 1.08 crore shares up for sale.</li><li>The company intends to raise ₹1,023 crore through its public issue, which includes ₹150 crore as issue of new shares.</li><li>The company will use their capital to repay its debts and spend on the manufacturing facility at Panchla in West Bengal.</li></ul>The initial public offering (IPO) of Tarsons Products continued to witness good demand from investors across the board on the second day of its public issue. The company would be listed on the <a href="https://www.businessinsider.in/stock-market/news/tarson-products-ipo-opens-today-and-closes-on-november-17/articleshow/87709719.cms">stock exchange on November 25</a>. The grey market premium of Tarsons Products shares is <a href="https://www.livemint.com/market/ipo/tarsons-products-ipo-what-gmp-signals-on-second-day-of-subscription-11637035990127.html">reportedly</a> at ₹180. Tarsons Products — which is a labware supplier to the life sciences sector— has received bids for 3.88 crore equity shares versus the 1.08 crore shares that were up for sale. The retail portion has been oversubscribed by 4.74 times and the portion reserved for non-institutional investors has been subscribed 3.98 times. Qualified institutional buyers — which includes banks, mutual funds and others — have subscribed to the IPO 1.30 times. The issue has been subscribed by 3.6 times. Tarsons Products’ public issue will close today, November 17. Interest investors can place their bidding, within a range of ₹645-662 apiece. The lot size has been set at 22 shares,which means that the investors would have to spend at least ₹14,190 to subscribe to the shares. Tarsons Products is engaged in designing, developing, manufacturing and supplying a diverse range of quality labware products used in laboratories across research organisations, academic institutes, pharmaceutical firms, diagnostics companies and hospitals. It manufactures a range of quality labware products that helps advance scientific discovery and improve healthcare. The company intends to raise ₹1,023 crore through its public issue, which comprises ₹ 150 crore as fresh issue. The remaining ₹873 crore will be raised through offer for sale (OfS) and will go to the investors selling their shares in the IPO. The company will use their capital to repay its debts and spend on the manufacturing facility at Panchla in West Bengal. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/former-myntra-ceo-started-mensa-brand-in-may-and-its-already-worth-a-billion-dollars-with/articleshow/87735832.cms" data-type="tilCustomLink" style="">Former Myntra CEO started Mensa Brand in May ⁠and it’s already worth a billion dollars</a> <a href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrencies-tumble-as-china-continues-its-crackdown-against-mining/articleshow/87738496.cms" data-type="tilCustomLink" style="">Cryptocurrencies tumble as China continues its crackdown against mining</a> <a href="https://www.businessinsider.in/stock-market/news/reliance-industries-makes-for-nearly-third-of-niftys-fall-today-tata-motors-and-maruti-beat-the-trend/articleshow/87736157.cms" data-type="tilCustomLink" style="">Reliance Industries makes for nearly a third of Nifty’s fall today ⁠— Tata Motors and Maruti beat the trend</a>

Tarsons Products IPO — today is the last day to subscribe, GMP at ₹180

<a target="_blank" href="https://www.businessinsider.com/category/e-commerce">E-commerce</a> is great for a lot of things — <a target="_blank" href="https://www.businessinsider.com/amazon-prime-shopping-rule-saves-me-money-2024-4">snagging sales</a>, stocking up on staples, buying stupid stuff we really do not need. But people's voracious appetite for online shopping does appear to have its limits, specifically when it comes to luxury.The expectation has long been that e-commerce would revolutionize luxury, just as it has so much of retail. It killed many <a target="_blank" href="https://www.businessinsider.com/shopping-mall-rise-fall-timeline-1950s-to-today-2023-1">malls</a> and bookstores; it made Walmart <a target="_blank" href="https://www.businessinsider.com/what-is-walmart-marketplace-for-third-party-sellers2023-12">go digital</a>; it transformed shipment and logistics operations across the globe. So why wouldn't it disrupt such an expensive, lucrative space?It turns out we still like to buy the nicest, most expensive items in real life, in large part because we want a luxury experience when we spend the big bucks. We like to feel fancy when we shop fancy, and dropping stuff into a virtual cart on a random website in between meetings is far from most people's definition of fancy.A recent survey from Morning Consult, a business intelligence company, explored how consumers look at luxury. It found that people generally have a strong preference for a brick-and-mortar experience when buying luxury items. Of those surveyed, 49% said they would consider buying luxury clothing or shoes from a brick-and-mortar store and 48% said the same of jewelry and watches. Thirty-nine percent said they would consider buying handbags and 40% said they would consider buying cosmetics and fragrances in a store. In every category, under 20% of consumers said they would consider making those purchases online. Gen Z was slightly more open to e-commerce and less interested in the brick-and-mortar experience, but not always by a meaningful margin. Less than 10% of all consumers said they'd buy luxury products through social media, though that number got up to the high teens for Gen Z.Consumers also said customer service was the second-most-important attribute in defining luxury shopping, right behind the quality of the product. In other words, they don't just want to buy something special — they want to be treated special while they do it."The No. 1 reason people like to shop in stores is because they want that experience of browsing and touching things and playing with things," Claire Tassin, a retail and e-commerce analyst at Morning Consult, said. "Customer service, especially in a luxury environment, is such a big part of how you justify the additional expense."Online luxury sales <a target="_blank" class="" href="https://www.businessinsider.com/americans-feel-financially-insecure-wont-stop-luxury-shopping-millennials-genz-2024-5">picked up during the pandemic</a> but have since come back down to earth. Some important names in the fashion e-commerce space, such as Matches Fashion and Farfetch, have cratered. The German-based platform Mytheresa is doing OK — its net sales grew by 18% in the quarter ending in March — but its stock is still down by more than 80% from its IPO price in January 2021. The private companies Moda Operandi and Ssense seem to be selling merchandise and retaining customers, experts say, but the sites have a niche appeal, so that's hardly made a dent. The overarching theme is that many consumers haven't warmed up to shopping luxury — namely, ultra-luxe items and brands — online. Jason Goldberg, the chief commerce strategy officer at Publicis Groupe, a global marketing firm, said the jury is still out on whether e-commerce will ever take over luxury retail, but for now, there aren't great examples of <a target="_blank" class="" href="https://www.businessinsider.com/internet-biggest-businesses-have-growth-problem-2024-1">"runaway successes" in the space</a>. There's no single answer as to why. One reasonable hypothesis could be that people simply prefer to get high-consideration and high-priced items in store, he said. What they get out of a luxury in-store experience hasn't been translated online."We try to treat luxury with the same e-commerce experience we use for paper towels, and that just doesn't work," Goldberg said. "In general, online, we have gotten very, very good at needs-fulfillment buying, but we are sucky at discovery. Nobody goes to Amazon because they go, 'I'm just in the mood to treat myself.'"When unplanned purchases happen online, they tend to happen through social discovery. You see something <a target="_blank" class="" href="https://www.businessinsider.com/social-shopping-what-social-media-sites-doing-win-e-commerce-2022-10">on Instagram or TikTok </a>and then you buy it. Those types of <a target="_blank" class="" href="https://www.businessinsider.com/impulse-spending-retirement-delayed-2024-5">impulse purchases</a> are fine to make with a few clicks, but when people spend the big bucks, they want to feel a little pampered."It is fair to say that going to a luxury store is part of the pleasure of buying a luxury product," said Luca Solca, a senior analyst covering global luxury goods at Bernstein. "Buying online is convenient and fast. But buying in store is a pleasure."An analysis from Bain &amp; Company found that the share of luxury goods sold online fell to 20% in 2023, after hitting 22% in 2020 and 2021. Solca believes 20% is on the high side and said that on average, the percentage of online sales in the luxury market hovers around the mid-teens, and sometimes even lower, noting that Burberry recently told him they were at 9%.For the most part, luxury brands prefer that customers would rather shop in-store. Sure, they all have some kind of online presence — it is 2024 after all — but not all of their products are always available online, and the internet is far from the primary area of focus. For the most high-end products, <a target="_blank" class="" href="https://www.businessinsider.com/things-learned-buying-luxury-watches-2023-11">there can even be waiting lists</a>. The general aversion to e-commerce makes sense: One way to convince people you're selling a luxury item, and price it accordingly, is to make it scarce and elusive, on top of providing the in-store luxury experience. It helps companies create and keep an aura around their brands."Luxury brands historically have actually stayed away from being very strong in the online channel, largely to do with the fact that they didn't want to be a cheap marketplace," said Nora Kleinewillinghoefer, a partner in the consumer and retail practice at Kearney, a strategy and management-consulting firm. "For them, it's about the storytelling." There are some exceptions here. The online diamond dealer Blue Nile is a giant in the engagement-ring space, and consumers are increasingly comfortable with buying their cars online. High-end beauty products can do well in e-commerce — once you know what shade of foundation or eye shadow you like, you don't need to keep going into the store. The online marketplace <a target="_blank" href="https://www.businessinsider.com/guides/style/the-real-real-review">The RealReal</a> sells a fair amount of secondhand designer and luxury merchandise, though it has long struggled with profitability. But outside these niche exceptions, high-end, luxury e-commerce isn't really a big thing yet. There's no super-prosperous Amazon for Gucci and Prada out there.So much of the fun of buying a luxury item is sensory — seeing the packaging, experiencing the store, chatting with associates whose attention is focused on you. It's a personal, rarefied experience."That dopamine rush you get from buying something fun and fancy and special is meaningful, even if it doesn't last," Tassin said.It's tough to translate to e-commerce. <a target="_blank" class="" href="https://www.businessinsider.com/avoiding-blackout-shopping-saving-money-frugal-living-youtuber-finances-2024-4">Clicking around a website</a> to buy something and a week later grabbing a box on your doorstep next to your monthly delivery of cat litter <a target="_blank" class="" href="https://www.businessinsider.com/shoppers-are-doom-spending-to-cope-with-financial-stress-2023-11">does not provide the same rush</a>.While brands want to sell to consumers however they can, including online, brick-and-mortar matters for their cultural and economic cache. When people have a premium experience in a Chanel or a Louis Vuitton store, it reinforces the brand's premium image. It's part of their top-funnel brand building. And, hey, it helps if you snap a picture in the store and post it online, whether or not any purchase ever happens there."They're not just having a premium experience to trick you into buying a handbag. They're having a premium experience to make sure that you continue to associate Louis Vuitton with this extreme luxury premium that makes you feel better about spending that money on their goods now and in the future," Goldberg said. "Part of the luxury experience is less about conversion and more about long-term brand equity."Ultra-luxe brands don't want their products to be ubiquitous in the way the internet can deliver. Companies know their high-end clients want one-of-a-kind items and personalized recommendations. These customers expect a salesperson to shoot them a text or give them a call to let them know a new shoe came in that they'll love, and they've only got one pair available in their size."Unless you have those relationships and connections with your reps, you actually will not get access to these products," Kleinewillinghoefer said. "It's that personalized touch that makes it truly unique."With their highest-net-worth clients, the in-person buying experience often doesn't feel transactional, she added — people's cards are kept on file, so no one has to think of the whole business relationship thing. And even with more aspirational consumers — people who'd be more likely to do some poking around online — brands are careful to craft their images. Companies want people to come in and feel like they're living the dream and making what they see as an investment in a high-end piece. Companies don't want to "water down" their value proposition by serving too many products to those consumers, which is what the open nature of the internet risks."The level of luxury and the type of consumer are critical factors that intersect to define a brand's approach to its consumers, shaping both engagement strategies and the practices to avoid," Kleinewillinghoefer said.While it might not feel like it, e-commerce is still in its early days. Amazon has only been around for 30 years and the iPhone for 17 years. Retailers have figured out how to make a digital version of a Target, but they haven't yet cracked the code for a digital Prada. It doesn't mean they never will. And, hey, if you want to buy your next designer watch online, go for it! But let's be honest here … you probably don't. Part of the whole schtick is going to the store and feeling fancy about it.<a target="_blank" href="https://www.businessinsider.com/author/emily-stewart">Emily Stewart</a> is a senior correspondent at Business Insider, writing about business and the economy.

When it comes to shopping, the ultimate status symbol is IRL

<ul><li><keyword id="12496770" type="General" weightage="20" keywordseo="tarsons-products-ipo" source="Orion">Tarsons Products IPO</keyword> is all set to list in stock exchanges tomorrow, November 26.</li><li>Investors have shown good interest in the IPO as it has been subscribed 77.49 times.</li><li>The grey market premium of the Indian labware company has come down to ₹170 from ₹200 earlier.</li></ul>Indian labware company Tarsons Products is all set to list its initial public offering (IPO) on stock exchanges tomorrow, November 26. The IPO has shown a good response from investors as it has been subscribed 77.49 times. While the company was looking to raise ₹1,024 crore through the IPO, it received bids for ₹55,625 crore. Investors have bid for 84 crore stocks out of 1.08 stock available for bids. <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;">Investors </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;">Subscription status </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;">Qualified Institutional Investors </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;">115.77 times </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;">Non-Institutional Investors </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;">184.58 times </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;">Retail </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;">10.56 times </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;">Overall </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;">77.49 times </td></tr></tbody></table> However, the grey market premium of the Indian labware company has come down to ₹170 from ₹200 earlier. The IPO consisted of a fresh issue of equity shares worth ₹150 crore and an offer for sale (OFS) of 1.32 crore equity shares that will be sold by promoters and an investor. Some of the company’s clients include Dr Reddy's Laboratories, Metropolis Healthcare, Dr. Lal Path Labs. Tarsons sells nearly one in every ten labware products sold in India. Analysts are betting big on the healthcare sector even post covid and expect the labware products company to continue growing. “COVID has turned out to be a boon for the companies in the healthcare space as worldwide governments have started allocating more funds and people in general have become more conscious towards the healthcare benefits. We expect the firm to grow faster than current CAGR [compound annual growth rate] given the laboratory instrument industry is growing at 20%,” said analysts at Nirmal Bang. Tarsons Products is engaged in designing, developing, manufacturing and supplying a diverse range of quality labware products used in laboratories across research organisations, academic institutes, pharmaceutical firms, diagnostics companies and hospitals. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/how-to-check-go-fashions-ipo-allotment-status/articleshow/87891055.cms">Go Fashion IPO’s allotment status would be announced today, GMP at ₹425</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/reliance-industries-coal-india-and-other-top-stocks-to-watch-out-for-on-november-25/slidelist/87901109.cms">Reliance Industries, Coal India and other top stocks to watch out for on November 25</a>

Tarsons Products IPO listing tomorrow; GMP staggers around ₹170

<ul><li>Shares of Tarsons Products listed at ₹700 while the price band was fixed at ₹635-662 per share.</li><li>The IPO was a hit among investors as it has been subscribed just 77.49 times on the last day of the bidding.</li><li>The market capitalisation of the company stood at ₹3,724 crore.</li></ul>Shares of Indian labware company Tarsons Products made a decent listing on the National Stock Exchange (NSE) and BSE despite weak market trends. The stock listed at ₹700, higher 5.74% on the issue price band of ₹635-662 apiece. Investors were expecting a positive listing despite weak market trends as the fundamentals of the company like becoming debt-free, having strong cash flow looked attractive. “The company has a strong cash flow and it is likely to become debt-free post-IPO [initial public offering] however the valuations look expensive therefore aggressive investors with a long-term view can hold this stock while those who were playing for listing gain should book profit because we are expecting some listing gain of around 20-25% based on subscription figure and grey market trend current GMP 180 (+27%),” said Aayush Agrawal, senior research analyst, merchant banking at Swastika Investmart. Post listing, the market capitalisation of the company stood at ₹3,724 crore, according to BSE data. The shares of Tarsons Products were trading at ₹722, higher by 9% at 10.00 a.m., on November 26. The grey market had indicated a strong listing too as unlisted shares of Tarsons Products were commanding a marginal premium of ₹180 per share. The IPO, which was open between November 15 and November 17, received strong response from investors. It was subscribed 77.49 times on the last day of the bidding. Tarsons Products is engaged in designing, developing, manufacturing and supplying a diverse range of quality labware products used in laboratories across research organisations, academic institutes, pharmaceutical firms, diagnostics companies and hospitals. Some of the company’s clients include Dr Reddy's Laboratories, Metropolis Healthcare, Dr. Lal Path Labs. Tarsons sells nearly one in every ten labware products sold in India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ratan-tata-backed-upstox-is-now-valued-more-than-its-rivals-zerodha-and-groww/articleshow/87922976.cms">Ratan Tata-backed Upstox is now valued more than its rivals Zerodha and Groww</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/reliance-industries-tarsons-products-asian-paints-and-other-hot-stocks-on-november-26/slidelist/87921730.cms">Reliance Industries, Tarsons Products, Asian Paints and other hot stocks on November 26</a>

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