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India's largest kirana community, Kirana Club reveals stark festive season divide
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Thursday, 09 November, 2023, 13 : 00 PM [IST]
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Our Bureau, Bengaluru
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At a time when e-commerce majors are witnessing a surge in consumer demand for mobiles, appliances, lifestyle, electronics, and beauty products and the consumer durables sector expects 15-20% growth this festive season, Indian kiranas are largely pessimistic about business prospects this festive season. A survey conducted by India’s largest Kirana Community, Kirana Club, reveals that Uttar Pradesh, one of the most populous States and ranking fifth in terms of GDP, had the highest number of kiranawallahs expressing pessimism regarding business prospects, with 14% reflecting this mood.
Despite the festivities and the concurrent Cricket World Cup, only 22% of India’s kirana owners are feeling ‘extremely optimistic’ about business prospects this festive season, while about 37% expressed ‘some level of optimism’. The survey further indicated that 29% kiranas are unsure about the season’s business prospects.
Recent industry reports indicated that FMCG companies have witnessed subdued consumer demand and a decline in rural consumption given the persistent food inflation and uneven rainfall. Kirana Club’s survey aimed at gauging the sentiment of kirana owners and the implications of these challenges on their business.
The positive sentiment was the most prominent among kirana owners in Madhya Pradesh, with 63% holding this view, followed by Bihar at 60%, Rajasthan and Maharashtra at 59%. ‘The Mood of Kiranas’ survey was conducted among 5,000 kirana owners across the country including Maharashtra, Bihar, Uttar Pradesh, Rajasthan, Madhya Pradesh.
Anshul Gupta, founder, Kirana Club, said, “Over the years, the retail sector has been witnessing increased consumer demand, thereby boosting sales and revenue during the festivities however the usual upbeat mood seems to be missing among Indian kiranas this season. The cautious optimism among kirana owners expressed in our survey is a true reflection of the current dynamics of the retail sector across the country. This is a valuable insight for FMCG companies and a reminder for them to be attuned to these sentiments and evolve as per changing consumer preferences to stay ahead of the curve. Through Kirana Club platform, store owners receive real-time market insights including pricing, product quality and latest schemes which empowers them to take better business decisions and scale their business, even amid uncertainties.”
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