Brands
23% Indians use m-payments once a week: Kantar TNS study
MUMBAI: Connected consumers in India are increasingly using mobile-based payments according to the results from the latest Connected Life study from Kantar TNS. Post demonetisation and with a greater push by the government for adoption of digital payments, mobile payments have seen a sharp rise with 1 in 3 (35 per cent) connected consumers in India using it. The popularity of mobile payments in India is also revealed by the number of regular users, with 23 per cent saying they use mobile payments at least once a week.
The results of the study show that India is ahead by 35 per cent compared to other APAC countries like Indonesia’s 9 per cent, and Philippines’s 7 per cent, but still has a lot of catching up to do with the likes of China at 94 per cent and Singapore at 65 per cent where mobile payments have become a regular habit.
The popularity of mobile payments in India is set to rise further, as the future seems bright with 33 per cent of connected Indians claiming to prefer paying for everything using mobile phones in the coming months. This seems far more promising than other APAC countries like Vietnam, Indonesia and Philippines.
Kantar TNS executive vice president India Anusheel Shrivastava says, “The mobile payment space was already heating up with the launch of several mobile wallets by leading banks and aggressive promotional pushes for customer acquisition by the likes of Paytm. The trend gained momentum after demonetisation, as the scope for digital payments shot up leading to a sharp rise in adoption of mobile payments in India.”
The study also revealed that APAC leads the world in m-commerce. Connected consumers in Asia Pacific are one-third (33 per cent) more likely to make an online purchase on their mobile than via a desktop or laptop.
Southeast Asian countries are leading the way when it comes to m-commerce. The majority of people with internet connections in Asian markets such as Indonesia with 93 per cent, Thailand with 93 per cent, Vietnam with 86 per cent and India with 85 per cent, are using their mobiles to make purchases as they leapfrog traditional forms of online shopping and go straight to their phones.
Brands
Hocco crosses Rs 530cr revenue in two years
Sauce.vc-led Rs 100cr raise values ice cream brand at Rs 2,500cr pre-money as quick commerce hits 20 per cent of sales.
MUMBAI: Hocco has just scooped a seriously sweet milestone crossing the Rs 530 crore revenue mark in just two full years of operations. The fast-growing Indian ice cream and indulgence brand announced it has raised Rs 100 crore in fresh capital led by Sauce.vc. The round values the company at Rs 2,500 crore pre-money and underscores investor confidence in its rapid scale and distinctive India-first approach.
Founder Ankit Chona said the brand’s success stems from solving real Indian challenges extreme summer heat, fragmented cold chains and culturally rooted tastes. “In India, product development doesn’t end in the lab. It only ends when it survives the street,” he noted. This philosophy has produced viral hits such as Aamchi mango ice cream, BIX cake-sponge sandwiches, the Oh cone and culturally relevant collaborations like Haldiram’s Barfi and festive Modak specials.
Hocco currently operates manufacturing facilities in Ahmedabad and Panipat with a production capacity of approximately 3 lakh litres per day, running near full capacity in peak season. The fresh capital will help expand this to around 4.5 lakh litres per day.
Quick commerce has emerged as a major growth engine, now contributing ~20 per cent of overall business and growing nearly 2x year-on-year. The channel has boosted product discovery, increased consumption frequency and helped extend ice cream beyond its traditional seasonal limits.
Sauce.vc founder Manu Chandra said, “At Sauce, we believe that when you chance upon an outlier business, you double down with stronger conviction. We see Hocco as just that.”
With a strong innovation pipeline, deeper distribution and continued focus on cultural relevance, Hocco is entering its third year aiming to capture even more mind space and market share. In a category long dominated by legacy players, this young brand is proving that the coolest way to win is to build for India’s realities, one scoop, one street and one satisfied craving at a time.
