Search

The article discusses the increasing trend of direct-to-consumer (D2C) brands choosing malls as a go-to location to enhance customer interaction and provide immersive shopping experiences in India's evolving retail landscape. Foot Locker's Global Chief Executive, Mary Dillon, highlights the growth potential in India due to the casualization trend accelerated by COVID-19. Additionally, Aditya Birla Digital Fashion Ventures Ltd has invested Rs 75 crore in Wrogn, a men's wear brand backed by Accel and cricketer Virat Kohli. The shift towards physical retail spaces in malls is seen as essential for D2C brands to engage customers beyond transactions and create memorable experiences. [Extracted from the article]

The article discusses the changing landscape of the digital TV industry, with Airtel in talks to acquire Tata Play, the country's largest DTH service provider. It highlights a shift towards regional content and the increasing importance of regional influencers in connecting brands with diverse audiences. Additionally, the article mentions ENO's Durga Puja campaign, emphasizing the cultural significance of the festival and promoting their new product, ENO Chewy Bites, as a solution for acidity during festive feasting. [Extracted from the article]

The article "Pressure amps up on Infosys, Wipro to beat high expectations amid correction woes" discusses the challenges faced by Infosys Ltd., Wipro Ltd., and HCL Technologies Ltd. in meeting high investor expectations amidst concerns of a potential market correction. The 2025 financial year is crucial for Indian IT companies after a slowdown in revenue growth the previous year. Additionally, the article highlights the increasing interest in Generative AI among technology leaders for implementation within the next year. [Extracted from the article]

Airtel, a telecommunications company in India, is reportedly in talks to acquire Tata Play, the country's largest direct-to-home (DTH) service provider. This move is seen as a strategic effort by Airtel to strengthen its presence in the digital TV space and increase non-mobile revenues. The potential sale would mark Tata Group's exit from its content and entertainment ventures. In other news, officials from Samsung recently met with the Tamil Nadu Minister for Industries to discuss resolving an ongoing labor strike at their factory. Nearly 1,100 employees are on strike, demanding pay revision and better working conditions. [Extracted from the article]

According to the article, tariff hikes in the telecom industry could have both positive and negative effects for telcos. Bharti Airtel is expected to see stronger revenue growth compared to Reliance Jio and Vodafone Idea due to recent rate hikes and increased mobile broadband users. However, the higher prices may result in a loss of users, with state-run Bharat Sanchar Nigam (BSNL) gaining customers. Additionally, Vodafone Idea is in talks with the government to remove bank guarantee requirements for spectrum acquired before 2022. [Extracted from the article]

The article discusses the expected revenue growth of 8 to 10 percent for Indian alcoholic beverages companies in the financial year 2025, supported by a revival in spirits consumption and premiumisation trends. Additionally, price hikes by some state governments are expected to contribute to the revenue increase. Unilever is investing over 150 million euros to revamp its European homecare supply chain, aiming to tap into post-pandemic shoppers and address years of underperformance, with plans to build factories, warehouses, and new production lines. [Extracted from the article]

The FMCG industry in India saw significant developments with Britannia and Bel Foods opening a local cheese manufacturing plant in Maharashtra, producing high-quality cheese products to meet the demands of Indian consumers. PepsiCo reported double-digit organic revenue growth in the Indian market for the third quarter of 2024, with strong performance in developing and emerging markets like India. Additionally, Unilever finalized the sale of its Russian subsidiary to Arnest Group, a Russian manufacturer specializing in perfume, cosmetics, and household products. [Extracted from the article]

According to a report by ratings agency Icra, fashion retailers are expected to see a revenue increase of up to 15% in the fiscal year 2025. Despite inflationary headwinds, the network growth of fashion retailers is predicted to support revenue growth in the current fiscal year. The report also states that the operating profit margins of fashion retailers are expected to stay between 13 and 14 percent in FY 2025, despite the anticipated strong revenue growth. In other news, the public procurement portal GeM has reduced transaction charges for sellers and service providers on its platform as part of the government's commitment to ease of doing business. [Extracted from the article]

Beauty Garage Professional has acquired Gofab Genesis, a hair care brand, in order to expand its market share in the premium salon segment. This acquisition will allow Beauty Garage Professional to introduce Gofab Genesis' patented technologies and reach new geographic markets. The company aims to achieve a revenue target of ₹100 crore in the coming year. In other news, Indian startup funding has increased by 53.1% in the first eight months of 2024 compared to the previous year, with startups raising $7.5 billion through venture capital funding. [Extracted from the article]

According to a report by Crisil Ratings, the organized retail apparel sector in India is expected to experience a revenue growth of 8-10% in the current fiscal year. This growth is attributed to factors such as a normal monsoon, easing inflation, the festive and wedding season, and the increasing preference for fast fashion. The mass market segment, driven by the popularity of affordable and trendy clothing, is expected to be the primary revenue driver. Additionally, there is likely to be an increase in demand for premium clothing during the upcoming festive and wedding seasons. [Extracted from the article]

Vodafone Idea, a struggling telecom operator in India, is in talks with the government regarding its Adjusted Gross Revenue (AGR) dues. The company expects debt funding to be concluded within the next 7-8 weeks. Vodafone Idea's CEO, Akshaya Moondra, stated that the industry will need another round of tariff hikes to improve cash flow. Despite the negative outcome of the AGR case, the company's long-term business plans and strategy will remain unaffected. [Extracted from the article]

Vi and Airtel recently met with telecom minister Jyotiraditya Scindia to discuss issues affecting the telecom industry. Vi raised concerns about adjusted gross revenue (AGR) following a Supreme Court judgment, but no relief was discussed. Vodafone Idea's CEO, Akshaya Moondra, stated that the company is in talks with the government regarding AGR dues and expects debt funding to be concluded in the next 7-8 weeks. The industry may also require another round of tariff hikes to improve cash flow. [Extracted from the article]

The article discusses recent developments in the telecom industry in India. The Telecom Regulatory Authority of India (Trai) has implemented a new service authorization regime, which telecom operators cannot opt out of. The article also mentions that bankers are reconsidering loans to Vodafone- Idea (Vi) after the Supreme Court rejected their plea regarding adjusted gross revenues (AGR) dues. Additionally, top executives from Reliance Jio, Vodafone Idea, and Bharti Airtel met with telecom minister Jyotiraditya Scindia to discuss issues in the sector. [Extracted from the article]

Beauty Garage Professional has acquired Gofab Genesis LLP in order to expand its market share in the premium salon segment. This acquisition will allow Beauty Garage Professional to introduce Gofab Genesis' patented technologies and drive increased sales and market penetration. The company aims to achieve a revenue target of ₹100 crore in the coming year and expand its reach across India and beyond. The article also mentions Priniti Foods' expansion into the sweets and cookies segment, adding traditional Indian sweets and gourmet cookies to its existing portfolio. These products will be available in various trade channels across India. [Extracted from the article]

CarMax, a used car retailer, exceeded revenue expectations for the second quarter due to increased unit sales, particularly in the retail segment, as a result of price cuts on used vehicles. The company has implemented cost-cutting measures in recent years to protect its margins. Ola Electric Mobility Ltd, an e-scooter manufacturer, has launched the "Network Partner Program" to expand electric vehicle adoption in tier-2 and tier-3 cities in India. The program aims to onboard 625 partners initially and plans to have 1,000 partners by the end of the year, with a goal of reaching 10,000 partners by 2025. [Extracted from the article]

The article discusses three different topics. The first topic is about Amazon India launching an AI-powered chatbot called Rufus to enhance customer experience and streamline the shopping process for their Great Indian Festival sale. The second topic is about the Indian government's plan to transform India Post into a logistics company and increase its revenue by 50-60% in the next 3-4 years. The third topic is about the rise of deeptech startups in India, particularly in the space technology sector, which is seen as a new frontier of opportunity and growth. [Extracted from the article]

The article discusses the impact of a mobile phone service tariff hike on the telecom industry in India. Reliance Jio, Bharti Airtel, and Vodafone Idea all reported a loss of customer base, resulting in an overall decline in telecom subscribers. The Supreme Court rejected Vodafone Idea's plea for the re-computation of adjusted gross revenue (AGR) dues, leading to concerns about the company's debt and growth plans. Additionally, top telcos in India have expressed difficulties in implementing the Telecom Regulatory Authority of India's new mandate regarding whitelisting of URLs in commercial messages. [Extracted from the article]

According to sources, the failure of the curative petition in the Supreme Court regarding adjusted gross revenue (AGR) will not affect Vodafone Idea's talks with lenders and vendors. The curative petition was not factored into the company's business plan or discussions with lenders, and the lenders' techno-economic assessment does not mention the curative ruling. Vodafone Idea is currently in active discussions with multiple banks. In other news, Amantya Technologies has secured a multi-year contract to develop the Department of Telecom's unified web portal in accordance with the Telecommunication Act 2023. [Extracted from the article]

According to a recent article, Vodafone Idea (VIL) may face a financial crisis in the coming years if relief is not granted on the Adjusted Gross Revenue (AGR) front. The Supreme Court has dismissed pleas filed by Vodafone Idea and other companies seeking correction of alleged computational errors in the AGR. However, sources say that the failure of the curative petition in the Supreme Court will not affect Vodafone Idea's talks with lenders and vendors, as it was not factored into their business plan or discussions. [Extracted from the article]

The Indian government plans to transform India Post into a logistics company and increase its revenue by 50-60% in the next 3-4 years, according to Union Telecom Minister Jyotiraditya Scindia. The government aims to connect about 25,000 villages without mobile networks by next year. Additionally, investments worth Rs 17.4 lakh crore are being used to modernize Indian Railways, which is seen as a key driver of progress towards a high-income economy. Efforts to improve infrastructure, technology, and operational efficiency are expected to boost the competitiveness of Indian Railways. [Extracted from the article]

The article provides three separate updates on infrastructure projects in India. The first update discusses the National Highways Authority of India (NHAI) awarding a Toll, Operate, and Transfer (TOT) bundle for ₹6,661 crore. The concessionaire will maintain and operate a 251 km stretch on the Hyderabad-Nagpur corridor for 20 years. The second update states that wagon makers are expected to achieve 20% revenue growth this fiscal year, driven by a healthy order book and improved operations. The third update mentions that the Deendayal Port Authority plans to issue a tender for the construction of three new oil jetties under a public-private partnership model, aiming to enhance the port's liquid cargo handling capacity. [Extracted from the article]

The article provides a snapshot of the telecom industry, highlighting three key developments. Firstly, the Union Cabinet has approved the establishment of India's fifth semiconductor facility by Kaynes Technology in Gujarat, which will have the capacity to produce 6.3 million chips per day. Secondly, iBUS Networks, backed by the National Investment Infrastructure Fund (NIIF), expects the public sector to contribute 25% to its mobility segment revenues by 2025. Lastly, Vodafone Idea, a debt-ridden telecom firm, has received demand orders from various GST offices to pay over Rs 73 crore in tax dues with penalties and interest. [Extracted from the article]

The document provides a snapshot of recent developments in the advertising industry. It highlights a campaign by Blue Tribe promoting their plant-based alternative to traditional chaap dishes, featuring Anushka Sharma and Virat Kohli. The document also announces Rohin Desai's return to Madison Media as Chief Client Officer, showcasing his extensive experience in media buying. Additionally, it mentions that Kriti Sanon has been named as the brand ambassador for Biba Fashion, with a new collection that combines traditional and contemporary elements. [Extracted from the article]

According to an Axis Securities report, India's Fast-Moving Consumer Goods (FMCG) sector showed resilience and adaptability in the first quarter of FY25, with rural demand driving top-line growth. Despite challenges such as heatwaves and competition, FMCG companies achieved mid to high single-digit revenue growth, largely due to volume recovery in rural markets. Factors such as a normal monsoon, rural distribution expansion, and region-specific product launches contributed to this positive trend. However, there was a deceleration in gross margin growth due to high margins in the base period and increased volatility in raw material prices. In Karnataka, coconut growers are facing challenges from a disease that infects the bottom fronds of coconut trees, causing the trees to look scorched. Horticulture officials recommend using aphids and biological insecticides to control the population of pests. [Extracted from the article]

The document provides a snapshot of various infrastructure-related developments in India. It mentions that India's steel demand is expected to grow by 8% annually in 2024 and 2025, with exports of iron ore also projected to increase significantly. The document also highlights the financial performance of Reliance Industries Ltd, reporting an increase in revenue but a decrease in net profit for the fiscal first quarter. Additionally, it mentions that Power Finance Corp has pledged around ₹21,000 crore towards the construction of the Vadhavan Port, which is set to be India's largest container port. [Extracted from the article]

Ashok Leyland, a commercial vehicle maker, has reported a high number of enquiries from fleet operators during a consolidation phase in the industry. The company expects the medium and heavy commercial vehicle segment to grow in the current fiscal year. Setco Automotive Limited, a manufacturer of MHCV clutches, has achieved its highest-ever first-quarter revenues. Shriram Finance, a non-bank lender, is in talks with climate-focused funds to raise capital for financing electric vehicles. [Extracted from the article]

Tyson Foods has exceeded expectations for third-quarter revenue and profit due to increased meat sales and lower feed costs. The company's chicken business has seen improved profits after struggling in previous years. However, Tyson's beef business is being impacted by tight cattle supplies. Beyond Meat has also beaten revenue estimates for the second quarter, benefiting from price increases on its plant-based meat products. On the other hand, Italian restaurant chain Buca di Beppo has filed for Chapter 11 bankruptcy, citing rising food and labor costs. [Extracted from the article]

Buca di Beppo, a popular Italian restaurant chain, has filed for Chapter 11 bankruptcy due to increased food and labor costs. The company has $10-15 million in assets and $100 million in liabilities. They plan to restructure 44 of their locations across 14 states in the US. This bankruptcy filing follows a trend of other popular restaurants, such as Red Lobster, also filing for bankruptcy. [Extracted from the article]

Adani Wilmar Ltd, a joint venture between Adani Group and Singapore's Wilmar, plans to invest ₹600 crore to expand its edible oil business and solar power capacities. The company aims to increase its processing capacities and launch more food products to achieve higher growth. Additionally, Adani Wilmar's promoters need to reduce their stakes in the company to 75% by February next year to meet SEBI's minimum public shareholding norm. In other news, Tata Consumer Products Ltd reported a decline in net profit for the first quarter, while its revenue increased. The dairy industry is also expected to see revenue growth of 13-14% this fiscal year due to strong demand and healthy supply. [Extracted from the article]

According to a report by CRISIL, India's dairy industry is expected to experience a revenue growth of 13-14% this fiscal year due to strong consumer demand and improved supply of raw milk. The demand will be supported by the rising consumption of value-added products, while the ample supply will be driven by good monsoon prospects. However, this increase in raw milk supply will also lead to higher working capital requirements for dairy products. Additionally, ITC Ltd, a diversified group, reported a marginal decline in consolidated net profit in the quarter ended June 30, 2024, due to a challenging macroeconomic and operating environment. Their revenue from operations, however, increased by 7.45% compared to the previous fiscal year. In Mumbai, tomatoes are being sold at Rs 60/kg in select locations. [Extracted from the article]

Tata Group has abandoned its plan to acquire a majority stake in Vivo India due to objections from Apple. Vivo, a smartphone manufacturer, was looking to sell a 51% stake in its Indian subsidiary to Tata Group as part of its strategy to localize its operations. However, Apple, whose devices are currently produced by Tata Group, opposed the deal. In other news, about half of the World Trade Organization's members, including the US, China, Japan, and the UK, have reached a preliminary agreement on e-commerce that would ban tariffs on digital transactions. However, South Africa and India have expressed concerns about the deal's potential bias towards wealthier nations. [Extracted from the article]

According to an article titled "Call rates in India one of the lowest in world: Scindia," Telecom Minister Jyotiraditya Scindia stated that India has 117 crore mobile connections and 93 crore internet connections, with call rates being one of the lowest in the world. The cost of a call per minute has reduced from 53 paisa to just 3 paisa, representing a 93% reduction. Additionally, telecommunications startups and companies are in discussions with Bharat Sanchar Nigam Limited (BSNL) to conduct live trials of 5G technology using BSNL's 700MHz band. These trials will focus on applications such as voice, video, and data based on 5G or 5G fixed wireless access. [Extracted from the article]

According to industry experts, print media has experienced significant revenue and profitability growth in the June quarter due to increased ad spending during the general elections and lower newsprint prices. Print ad revenue rose by 10-11% in the first half of 2024, reaching a market size of ₹10,000-11,000 crore. Sectors such as education, real estate, and jewelry saw a boost in their ad spends during this period. Additionally, HMD Global has announced Bollywood actress Sanya Malhotra as the brand ambassador for its upcoming smartphone line-up, HMD Crest. [Extracted from the article]

Amazon India is reportedly in talks with Swiggy for a potential deal involving its quick commerce business, Instamart. This comes after Swiggy filed draft documents with SEBI for a public offering. However, there are currently obstacles to the deal. In other news, certain states in India are considering pilot projects for the home delivery of alcohol through online platforms such as Swiggy, BigBasket, and Zomato. These projects would initially focus on low-alcohol beverages, and state authorities are seeking feedback on the advantages and disadvantages of online liquor delivery. [Extracted from the article]

Flipkart, the Walmart-owned e-commerce company, plans to open 100 dark stores in major cities ahead of its Big Billion Days sale to compete with other quick commerce platforms. The company is also preparing to launch Flipkart Minutes, a fast delivery service, in select areas. In other news, the Indian government is working on a regulatory framework to boost exports through e-commerce, with a target completion date of September. Additionally, Bata India has reached a milestone of 500 franchise outlets for the first time, thanks to increasing interest in opening franchise stores. [Extracted from the article]

Certain states in India, including New Delhi, Karnataka, Haryana, Punjab, Tamil Nadu, Goa, and Kerala, are considering pilot projects for the home delivery of alcohol through online platforms such as Swiggy, BigBasket, Zomato, and Blinkit. These projects would initially focus on low-alcohol beverages like beer, wine, and liqueurs. State authorities are currently seeking feedback on the advantages and disadvantages of online liquor delivery from e-commerce platforms and spirits manufacturers. Additionally, a report by Ernst & Young (EY) and the Associated Chambers of Commerce and Industry of India (Assocham) suggests that India should increase the consignment limit of courier exports through e-commerce channels to $50,000 from the current limit of $12,000. [Extracted from the article]

The article provides a snapshot of various developments in the retail industry. It highlights that the government-backed Open Network for Digital Commerce (ONDC) has captured about 3% of Swiggy and Zomato's food-order volumes in India. Additionally, hygiene brand Pee Safe has hired Arijit Sen as its new vice president of sales to enhance its retail strategy. DMart, the operator of Avenue Supermarts, has reported a 17.45% increase in net profit for the first quarter of FY '25. Finally, certain states in India are considering pilot projects for home delivery of liquor. [Extracted from the article]

PepsiCo's quarterly revenue fell short of expectations due to slower sales of snacks and beverages, primarily in the United States. The company faced challenges from price hikes and competition from private-label brands, which limited its ability to raise prices as volumes declined. In India, the FMCG sector is expected to experience significant growth, with consumer spending projected to reach $6 trillion by the end of the decade. Despite challenges like inflation and uncertain monsoons, changing consumer preferences towards organic and health-focused products are driving overall growth in the sector. [Extracted from the article]

Nykaa, the parent company of FSN E-Commerce Ventures, expects a 22-23% increase in consolidated revenue for the first quarter of 2024-25. The company also anticipates growth in the beauty vertical but notes a "muted" demand environment in the fashion industry. Additionally, Khadi and Village Industries (KVIC) achieved an annual turnover of over Rs 1.5 lakh crore in FY 2023-24, with over 10 lakh new jobs created during the fiscal year. KVIC saw significant increases in production, sales, and employment generation over the past decade. [Extracted from the article]

Tata 1mg, a digital pharmacy owned by Tata Digital, reported a 21% increase in operating revenue to Rs 1,968 crore for the fiscal year 2023-24. The company's net loss also decreased significantly from the previous year. Leasing of retail spaces in shopping malls in India increased by 15% during the April-June period, indicating improved demand from retailers. This data was provided by real estate consultant Cushman & Wakefield. [Extracted from the article]

According to a report by ICRA, the Indian auto component industry's revenue growth is expected to decrease to 5-7% in fiscal year 2025, compared to around 14% in fiscal year 2024. The report also states that operating margins are projected to improve by around 50 basis points in fiscal year 2025. Additionally, G20 Sherpa Amitabh Kant emphasizes the need for electric vehicle (EV) adoption in India, stating that it could save $10 billion and create millions of jobs by 2030. Kant suggests fully electrifying India's 50 most polluted cities by 2030 to achieve these benefits. [Extracted from the article]

The article provides a snapshot of various infrastructure developments in India. Adani Ports and Special Economic Zone is set to win a contract to run a clean cargo terminal at Deendayal Port, which will strengthen its presence in the area. The Eastern Railway has generated over Rs 953 crore in passenger revenue during the first quarter of the fiscal year 2024-25, marking a 9.97% increase compared to the previous year. The Ministry of Road Transport and Highways is seeking special permission to expedite the awarding of road projects, and the Karnataka government is considering six locations for a second airport in Bengaluru. [Extracted from the article]

According to a report by CRISIL Ratings, the fast-moving consumer goods (FMCG) sector is expected to experience revenue growth of 7-9% in the current fiscal year. This growth is attributed to increased volume demand from both rural and urban areas. The report also predicts single-digit growth in product realization, with stable prices for raw materials in the personal care and home care segments. Additionally, the Indian government has no plans to grant new concessional duty on the import of milk products, corn, and vegetable oil beyond its existing commitments at the World Trade Organization. [Extracted from the article]

The telecom industry in India experienced a 3.87% sequential growth in adjusted gross revenue (AGR) in the last quarter of FY24, reaching Rs 70,462 crore. This growth was primarily driven by Bharti Airtel and Reliance Jio, while Vodafone Idea and BSNL saw a decline in their mobile services AGR. Airtel and Reliance Jio have completed their 5G rollouts, while Vodafone Idea is preparing to launch the latest telecom technology. Additionally, India has seen a significant increase in mobile phone exports, with a 40.5% surge, while China and Vietnam experienced a decline in exports. [Extracted from the article]

Accenture, a global consulting and outsourcing company, has forecasted strong revenue growth for 2024 due to high demand for its artificial intelligence (AI) integration services. The company's generative AI business, which helps automate operations and increase productivity, saw a significant increase in new bookings. This growth in AI services outpaced demand for other core services, such as consulting and outsourcing. Accenture's positive outlook comes after a period of decreased demand for IT services, and its stock rose by over 6% in response to the news. [Extracted from the article]

According to a report from the Broadband Commission for Sustainable Development, artificial intelligence (AI) has the potential to connect the 2.6 billion people who are currently not connected to the internet. The report discusses how AI solutions can help achieve the UN Sustainable Development Goals and bring everyone online. In the telecom industry, the adjusted gross revenue (AGR) grew 1.9% in the January-March quarter, with Bharti Airtel narrowing its revenue market share (RMS) gap with Reliance Jio. Additionally, there has been a significant increase in space startups in the past two years. [Extracted from the article]

The article discusses the chipmaking equipment industry's interest in setting up operations in India as an alternative to China. The international chip industry group SEMI will hold its Semicon exhibition in India for the first time in September, attracting Japanese companies like Tokyo Electron and Disco. In another report, telecom gear maker GX Group expects a 66% revenue growth to Rs 500 crore by 2026, driven by domestic business and exports. The company plans to expand its manufacturing unit in India with an investment of Rs 100 crore. Additionally, Vodafone Idea has launched new subscription plans aimed at enhancing the digital sports viewing experience for its sports audience. [Extracted from the article]

Fino Payments Bank is focusing on digital banking to increase its revenue share, aiming to capture the market space left by Paytm Payments Bank. The bank plans to generate 15% of its revenue from digital banking this fiscal year, a significant increase from the 5-6% in the previous year. Fino expects the demand for quick digital credit and UPI-based transactions to help it gain market share. The Insolvency and Bankruptcy Board of India (IBBI) has proposed simplifying forms for resolution professionals (RPs) to reduce compliance burden and streamline formalities in the corporate insolvency resolution process (CIRP). [Extracted from the article]

The QSR (quick-service restaurant) sector, which includes pizza and burger chains, experienced pressure in the March quarter due to lower dine-in footfalls and increased delivery orders through aggregators. Despite this, industry players are optimistic about a gradual recovery in FY25. According to a report by BNP Paribas, QSR revenue growth for listed companies was down 9% year-on-year in Q4 FY24. While gross margins expanded, EBITDA margins declined for most QSR players due to store expansion costs and initiatives to revive demand. [Extracted from the article]

The article discusses the impact of food delivery platforms on the sales of quick service restaurants (QSRs) in India. It states that QSRs like Domino's and Pizza Hut are experiencing a decline in revenue growth due to the rapid expansion of platforms like Zomato and Swiggy. These platforms are diverting younger customers from traditional retail and physical stores. The article also mentions a slowdown in online consumption across various segments, such as electronics and beauty products, during the March quarter. [Extracted from the article]