theweekendreview
NESTLE INDIA’S ANNUAL SALES CROSS ₹10,000-CR MARK IN 2017
Swiss packaged food company Nestle SA has finally joined the ₹10,000 crore sales club in India— more than a century after it entered the burgeoning market to sell Swiss condensed milk as a trader.
On Wednesday, its local entity Nestle India Ltd reported total sales at ₹10,135.11 crore for the year ended December 2017. The maker of Maggi noodles, Kit Kat chocolates and Nescafe instant coffee mixes follows a JanuaryDecember accounting year. Nestle, which began trading in India in 1912, is the first listed “pureplay food company” to cross ₹10,000 crore in sales in India. While there are many packaged goods companies in India with more than ₹10,000 crore sales, Nestle India is among the few to have crossed the mark with a pure-play food business. Among listed firms, ITC Ltd’s food business was estimated at ₹8,000 crore in fiscal year 2017 and Britannia Industries Ltd reported sales at ₹8,684 crore in FY17.
DIGITAL SPENDING BY INDIANS TO HIT $100 BN BY 2020, SAYS REPORT
Indian consumers, especially women and new internet users from smaller cities, are going to drive digital consumer spending, which is expected to more than double to $100 billion by 2020, said a joint report released by Google India and The Boston Consulting Group (BCG).
While internet users have grown nearly doubled in the past four years to reach 430 million today, the adoption of online transactions among them still lags markets like the US and China.
For instance, only one in five internet users in India buy products online compared to four in five for US and three in five for China. The report stated that nearly half of online transactors in India spend only 5% to 10% of their monthly purchase basket online.
They typically buy movie and/ or travel tickets online and sometimes apparel or accessories, therefore, highlighting a huge window of opportunity for brands.
ZEE ENTERTAINMENT LAUNCHES NEW VIDEO STREAMING PLATFORM
Television broadcaster Zee Entertainment Enterprises Ltd on Wednesday launched a new video streaming platform Zee5 to establish a stronger presence in the digital market.
Zee5, which will subsume Zee’s existing video streaming platforms Ozee (advertising-based) and Ditto TV (subscriptionbased), comes with 1 lakh hours of content including exclusive originals, Indian and international movies and TV shows, music, live television, health and lifestyle videos in 12 regional languages.
“A new platform was created because the digital growth story is happening now. Video streaming platforms have been targeting younger audiences between 18 and 35 years of age but Zee5 caters to 12 languages across the country. We are going down to tier-II and tier-III cities with strong language content and not just focusing on metros and mini-metros,” said Amit Goenka, CEO of Zee International and Z5 Global.