18 June 2022, Mumbai:
*‘StyleCast’, Myntra's dedicated destination for the fashion-forward Gen-Z enthusiasts of the country, continues to witness steady growth, being a one-stop destination for all trendy drops that are in line with global fashion and their aesthetic palettes.
Despite consumer sentiment being relatively low, many categories in discretionary spending registered high sales during these events, says N Chandramouli, Founder, TRA Research.
As per a RBI report, consumer confidence index improved slightly to 75.9 in May compared to 71.7 in March. Shrenik Gandhi, Co-Founder and CEO, White Rivers Media says, consumer sentiment isn’t as negatively impacted as people are projecting it to be. Business need to introduce right products and services at the right time and right prices to attract customers, he adds.
An earlier report by ICICI Securities also notes,discretionary companies like retail, QSRs and jewelry will perform well. D2C brands selling beauty, home, kitchen, utilities and durable goods will perform well.
CREDITS: *Indian Retailer