Footwear Industry Check - Early Signs Of Revival: Dolat Capital
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Dolat Capital Report
We interacted with store managers at Bata India Ltd. in western market to analyse the ground situation post lifting of second Covid-19 wave restrictions.
We focused mainly on Bata footwear demand, price increases, new schemes, discounts, recent launches, and store manager’s confidence level. Key takeaways:
Bata store managers indicated that while footfalls have declined, conversion rate of footfalls to sales has increased significantly. This implies that only consumers who are eager to buy with urgency are visiting stores and window shopping has declined drastically.
Few store managers have confirmed that the new finished goods are priced 10-25% higher compared to earlier. The company has taken price hikes to mitigate increase in raw material costs.
Most of the stores witnessed high demand during July and August 2021 – post re-opening of stores. However, the demand declined significantly during September.
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