The food chain expects 6% of overall sales to be generated via social media and other Internet platforms this fiscal
Jubilant FoodWorks, which sells the Domino's brand of pizza in India, said it plans to tap the Internet and social media to boost its sales and expects around 6% of its overall sales from this platform this fiscal.
The company, which on Thursday announced the national launch of its online ordering system, said at present its online sales contributes around 4% to its total sales. It expects a double-digit figure in the next few years.
"In India, around 35-50 million people are using the internet. That is the kind of potential market that we see... So launching the online ordering system is an extension to reach out to consumers," Domino's Pizza India vice president (marketing) Harneet Singh Rajpal said.
The company had introduced the online ordering system last year as a pilot project in Bengaluru. At present, online sales contribute around 4% to its total business. Last fiscal, the firm had a turnover of Rs678 crore.
"E-commerce is a growing business. In India, the penetration of the Internet is very low. However, in developed countries around 20%-30% of sales are done online. Though it is difficult to say when we can achieve such a figure in India, we expect a huge double (digit) growth in the (next) few years," he said.
Under the online system, customers can order pizzas via cash on delivery or credit card, debit card, net banking or mobile cash card. This platform is integrated with social media like Facebook and portals like Yahoo.
Jubilant FoodWorks closed at Rs1,000.50 per share (5.95 % up from the previous close of Rs 944.35); the Sensex ended 144.71 points up at 16,821. 46, from the previous close of 16,676.75.
The automaker also clocked a healthy growth in exports, with a 40% hike to 1,38,225 units
The country's second-largest two-wheeler maker Bajaj Auto has reported a 16% jump in total sales to 3,82,739 units in August 2011 against 3,29,364 units sold in the corresponding month last year. According to a company statement, motorcycle sales stood at 3,38,054 units against 2,89,176, translating into a 17% increase.
The company said that commercial vehicle sales rose to 44,685 units last month, an 11% jump from 40,188 units in August 2010.
Exports grew 40% to 1,38,225 units from 98,578 units.
Bajaj Auto closed at Rs1,623.55 per share, 3.21% up from the previous close of Rs1,573, the Sensex ended 144.71 points up at 16,821. 46, from the previous close of 16,676.75.
According to Dun & Bradstreet (D&B), total bank lending in FY11 grew a robust 24.2% to reach Rs42.60 trillion, which exceeded the RBI’s growth projections of 20% for non-food credit
Speaking at a recent awards ceremony in Mumbai, Mohan Ramaswamy, Chief Operating Officer, Dun & Bradstreet (D&B)—a provider of business information, knowledge and insight—said, "Over the last few years, the banking sector has seen numerous changes due to economic and regulatory reforms aimed at improving the transparency and efficiency of the banking system. Continued efforts at improving the stability of the Indian banking sector have helped the sector grow in strength over the years."
He added, "Our study revealed that FY11 saw the strongest credit growth in the last three years. Total bank lending in FY11 grew a robust 24.2% to reach Rs42.60 trillion, which exceeded the RBI's growth projections of 20% for non-food credit. The incremental credit growth was driven mainly by credit demand in major sectors such as commercial real estate, infrastructure and personal loans. The growth in the personal loan segment was attributable to consumer durables, housing and vehicle loans. Additionally, bank lending to NBFCs (non-banking financial companies) also witnessed a sharp rise in FY11."
Speaking on the same occasion, Arun Jain, chairman & CEO, Polaris Software, said,"For banks to leap from local to a global business landscape, what is going to be extremely crucial is the focus on creating the highways for growth, a financial technology Infrastructure. The future of banking will need to be agile; it will have to have the capability of non-disruptive integration with existing and legacy systems, ease of usage, ease of change and ease of implementation of regulatory and risk frameworks. As technology requirements are moving rapidly from mere functionality to architecture, agility and addictive technologies, banks with their technology partners have a huge opportunity to make a powerful impact and move towards profitable growth."