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Micro, small and medium enterprises (MSMEs) are partnering with influencers to promote their brands, Pratishtha Bagai In fact, some brands have even expanded their budgets for the same by 3X to 4X to reach target consumers, the report says. While Ghar Soaps, a Pune-based skincare brand, has been collaborating with influencers "aggressively" for the past two years, Sam and Marshall, a Delhi-based eyewear brand, is also leveraging influencers to boost the sale of their premium products. What’s driving this trend? Influencer marketing is essential for MSMEs as it helps in brand-building and is cost-effective and targeted, says Anil Bharadwaj, secretary general of the industry association, Federation of Indian Micro and Small & Medium Enterprises. On the other hand, Dhruv Verma, co-founder of Rize, a health and wellness-lifestyle brand, believes that traditional marketing is only good for brand building, and not sales. Meanwhile, the demand for regional influencers is also rising as brands target newer audiences . India's creator economy is projected to reach ₹3,375 crore in 2026, from ₹2,344 crore in 2024 approx. and regional influencers will be a huge part of this growth .

FMCG firms see rural green shoots, but wage stress weighs The real rural wages contracted in as many as 25 of the 27 months up to February 2024. February, in particular, saw a big contraction, of 3.1%. The revival of the monsoon after a deficient June spell is good news for the fast-moving consumer goods (FMCG) market, especially in rural areas. But a closer look at rural inflation and real wage growth suggests rural revival will be gradual as consumers in the hinterland contend with shrinking wages and higher prices. Latest data from the real rural wages contracted in as many as 25 of the 27 months up to February 2024. February, in particular, saw a big contraction, of 3.1%. The highest contraction recorded before this was 2.9% in September 2022, CMIE says. Rural inflation, meanwhile, has outpaced urban inflation for 11 months in a row to May 2024. It stood at 5.3% in May, exceeding urban inflation by 110 basis points. As rural households tend to spend more on food, the proportion of food and beverages in the rural basket is more than half at 54.18%, compared with 36.29% for urban areas. So, changes in food inflation tend to affect rural inflation more than anything else.

Groceries Store get Tech make over The emergence of tech-enabled Kirana stores, or neighborhood retail outlets, are posing a challenge to traditional stores. These self-service outlets such as Gujarat-based Frendy, Telangana's SuperK, and Bihar-based Apna Mart, among others, contribute nearly 4% to overall FMCG sales, the report says. The share was less than 1% before the pandemic. In the premium category, the contribution is more than 8%-10%. The operations of these stores happen through digital apps unlike traditional stores. The company has built its hub and spoke supply chain model based on an in-house suite of digital apps which connects the point of sale software and the central warehouse. It ensures timely and automatic restoration of stocks so that the shelves are never empty. In fact, these self-service outlets are gaining investors attention too. While Frendy has secured $5 million, SuperK has raised $6.5 million. Meanwhile, Apna Mart and Kirana King have also secured funding worth $13 million and $1 million, respectively. Companies also use these stores to launch new products because of their tech-enabled features which help them gather insights and reach out to customers easier.

What are the most effective ways to use marketing operations metrics and KPIs to motivate your team? Marketing operations metrics and KPIs are essential tools for measuring and improving the performance of your marketing campaigns, processes, and resources. But they can also be powerful motivators for your team, if you use them wisely. In this article, you will learn some of the most effective ways to use marketing operations metrics and KPIs to motivate your team Marketing operations metrics and KPIs to motivate your team is to align them with your strategic goals and objectives. You want to make sure that your team understands how their actions and outcomes contribute to the bigger picture, and how they are evaluated and rewarded. You can do this by setting SMART (specific, measurable, achievable, relevant, and time-bound) goals for your team, and choosing the right metrics and KPIs to track their progress and impact. Leverage marketing metrics and KPIs to motivate your team by translating data into compelling stories that highlight collective impact and individual contributions. Celebrate and reward milestones, fostering a culture that appreciates innovation and continuous learning. Ensure metrics are visual and accessible, providing real-time feedback on performance against goals. Align KPIs with individual, team, and customer-centric objectives, ensuring every member understands their role in broader company success. Promote a collaborative environment where data drives decisions, nurturing autonomy, and ownership. Ultimately, intertwine purpose with performance, showcasing how improving KPIs positively impacts customers and the team. The marketing operations metrics and KPIs to motivate your team is to communicate them clearly and regularly. You want to make sure that your team knows what metrics and KPIs they are responsible for, how they are calculated, and what they mean for their performance and development. You can do this by creating dashboards, reports, and visualizations that display the metrics and KPIs in an easy-to-understand and actionable way. You can also share the metrics and KPIs with your team on a regular basis, such as weekly, monthly, or quarterly, and provide feedback and recognition based on the results. When team members are involved in setting and reviewing metrics and KPIs, they are more likely to understand and be motivated by them. They are also more likely to identify and implement ways to improve their performance. marketing operations metrics and KPIs to motivate your team is to use them to foster collaboration and learning. You want to make sure that your team uses the metrics and KPIs not only to measure their performance, but also to learn from their mistakes, celebrate their achievements, and support each other. You can do this by creating a culture of transparency, feedback, and recognition around the metrics and KPIs, and by providing opportunities for your team to collaborate and learn from each other.

Do you know Gaanja or Weed is a rising category of business in India .........?? Both Marijuana and Hemp are the same species of the Cannabis plant -but with a minor difference . The Marijuana that's gets you high has a chemical called THC ... this chemical is said to be less than 0.3% in Hemp , thus making the latter safe (legal) or consumption. And Hemp has an ingredient called cannabidiol or CBD '', which has its commercial uses ..... CBD oil used in Ayurveda to help with managing pain , inflammation and to calm one's nerves and treat anxiety. Its comes in the form of orally from a dropper , to be put under your tongue or in the form of capsules . Its sells like Rs.1500 for a 10 ml bottle of CBD , based on SKU . The expected gross margin on such products 50-60%, the global CBD market would be over USD 50Bn in the next 5 years , and interestingly India have market size of USD 100Bn (16%p.a.) Not just that , Hemp is also used to make sustainable fibre that uses just a fraction of the water needed for cultivation of cotton... if you search for Hemp Bags online , you'll find bagpacks selling for Rs2000+ from brands like Budda Land, Nepal Hemp... etc. In fact , a number of International clothing brands including the like of Levi's use hemp in their fabric to make their sustainable line of products .

Electric Vehicle Sales Witness Remarkable Growth in 2023 In 2023, the #electric vehicle (#EV) sales experienced an astounding 125% increase compared to the previous year, indicating a promising future for the EV sector. Among the different #vehicle categories, two-wheelers dominated the market with a significant share of 66%, followed by three-wheelers at 28%, and passenger vehicles (PVs) trailing at a mere 4%. Interestingly, PVs exhibited the highest growth in terms of new buyers. 2 - Wheelers The exponential growth in the electric two-wheeler segment in India can be attributed to several factors. Delivery aggregators such as Swiggy, Zomato, and Zepto have been increasingly using EVs for their services to ensure zero-emission deliveries. This combination of supportive policies and corporate adoption has fueled the rapid expansion of the two-wheeler EV market. 3 - Wheelers In contrast, the three-wheeler segment has seen steady growth over an extended period, mainly due to early adoption in intra-city movement. The practicality and efficiency of three-wheelers for short-distance commutes and #lastmile connectivity have been key drivers behind their consistent sales figures. 4 - Wheelers The four-wheeler PV sector, on the other hand, is primarily dominated by major automobile manufacturers such as Tata Group and Mahindra Group. These established players have leveraged their existing market presence and resources to penetrate the Passenger EV sector successfully. Conversely, the two and three-wheeler segments are currently dominated by smaller players like YC Electric, Saera Electric Auto Ltd., Ather Energy, and Ola Electric. TVS Motor Company has risen to prominence within a short span of time. Smaller players have been nimble in adapting to the evolving market and catering to specific niches, which has granted them a competitive edge. Now, the question arises: Will larger automobile players eventually dominate the EV sector, or will smaller players continue to grow steadily and retain their positions in the market?

What are the best ways to test and learn from new retail marketing ideas? Choose your test method and audience Depending on your objectives and hypotheses, you can choose different methods to test your new retail marketing idea. Some common methods are A/B testing, multivariate testing, and pilot testing. A/B testing is when you compare two versions of your idea, such as two different email subject lines or two different landing pages, to see which one performs better. Multivariate testing is when you compare multiple variations of your idea, such as different combinations of headlines, images, and colors. Pilot testing is when you launch your idea to a small and representative sample of your target audience, such as a specific store location or a segment of your email list, to see how they respond before rolling it out to a larger scale. #retailmarketing #measurement #retaildesign #marketanalysis #businessandmanagement