The pandemic is changing the way consumers think, live and shop. With pay cuts, job losses and an uncertain future, key focus area for Indian consumers is health and safety.
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The footwear industry is one of the most rapidly expanding industries globally. Increasing demand for new and innovative footwear and the emergence of various global as well as regional brands across segments in the category is primarily driving the market.
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Our analysts feel that the future of the luxury car segment in China is bright. The consumer confidence is high and despite the Government’s austerity drive and the trade negotiations with the United States, the sale of luxury and super luxury vehicles has not slowed down significantly.
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The global luxury car market has seen been relatively untouched by the financial crisis and has been posting growth driven by the emerging markets. The three German players BMW, Audi and Mercedes-Benz account for approximately 80% share of the global luxury car market. BMW is the global leader in the luxury car segment, followed by Mercedes-Benz and Audi.
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Indian ice cream industry is one of the fastest growing segments of the dairy or food processing industry. India has a low per capita ice cream consumption of ice cream at 400 ml as compared with per capita consumption of ice cream of 22,000 ml in the United States and 3,000 ml in China.
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The fishery sector is a crucial sector in the Vietnamese economy. The COVID-19 outbreak has caused export orders of seafood from Vietnam to be reduced by 30-50%. The orders have either been cancelled or put off and in the early part of the outbreak, producers had difficulty fulfilling the orders that did exist, due to shortage of material and labour.
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Globally, India is the second biggest aquaculture and fish producer. The country is the fourth biggest seafood exporter in the world, with exports of marine products worth close to USD 7 billion. Both the domestic market for seafood and exports from India have been hit hard by the impact of the global Covid-19 outbreak.
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