Hyundai to boost rural sales with ‘Grameen Mahotsav’ initiative
Hyundai Motor India Ltd aims to enhance sales in rural markets through its ‘Grameen Mahotsav’ initiative, capitalising on the robust sales momentum it has witnessed in these areas in recent months.
The share of rural markets in the company’s total sales has seen a surge and now rural accounts for one-fifth of its total volumes.
“We sold 1.15 lakh vehicles in rural India last year, a growth of 11 per cent over 2022-23. We are confident that with good monsoon, increasing income levels and improved infrastructure, the contribution from rural markets will further increase, said Tarun Garg, COO, Hyundai Motor India Ltd.
BHARAT PUSH
The ‘Grameen Mahotsav’ rural outreach programme aims to deepen Hyundai’s ties with rural markets through specially designed events at 16 locations across the country. The initiative will engage dealers, rural influencers, financiers, customers and their families to build a strong network, enhancing brand recall and driving sales in rural markets.
Hyundai has planned a range of engaging activities under the ‘Grameen Mahotsav’ programme, including attractive product displays, interactive demonstrations and customer experience programmes. The two-day event will feature a vibrant marketplace with artisanal crafts, carnival rides, gaming zones and food stalls.
Retailers in the country have begun witnessing signs of recovery and on an average saw a growth of about 8 per cent at a pan-India level in March over the same month last year, per the latest survey findings of Retailers Association of India (RAI). This growth was led by sports goods, beauty and wellness and apparel segments.
The industry body said it expects to see consumption witness a boost with the Lok Sabha elections. It also noted that retail chains have resumed expansion signalling optimism among the industry.
Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “In March 2024, our review of the retail sector revealed signs of a recovery in growth. The consumption landscape appears robust, driven by increased discretionary spending on apparels and sporting goods. However, the jewellery sector, despite its significant growth since last Diwali, has experienced a slight slowdown this past month, likely due to the recent surge in gold prices.”
“In the lead-up to the 2024 general elections, we are optimistic about the retail sector’s growth prospects. Historically, election years catalyse economic activities, enhancing consumer spending across regions and categories. This year, we anticipate a similar trend, with substantial increases in discretionary spending, particularly in sectors such as FMCG and consumer durables,” he added.
RAPID GROWTH
Sports goods reported a growth of 11 per cent followed by apparel and beauty segments, which witnessed a growth of 10 per cent, while QSR, footwear, food and grocery segments saw 9 per cent growth. Jewellery grew by 6 per cent, while consumer durables and electronics saw a 4 per cent decline in March 2024 over March 2023, per RAI survey report.