Home / Knowledge / News / Textiles / Business continuity biggest challenge to Indian firms: MFI

Business continuity biggest challenge to Indian firms: MFI

14
Oct '20
Pic: Messe Frankfurt India
Pic: Messe Frankfurt India
The biggest challenge Indian businesses will face is business continuity as several industries reel under the effects of a disrupted sourcing and supply chain, according to a study by Messe Frankfurt Trade Fairs India Pvt Ltd, which found those who held off purchases do so no longer due to cash flow issues observed in the earlier months, but rather because they can't find the right suppliers.

A market survey of more than 1,000 professionals from across India was conducted in June and September this year to examine the shifting business climate and the state of mind of the most senior buyers at Messe Frankfurt India (MFI) trade fairs during this period.

The key objective of the ‘Senior Management Survey’ was to gauge the business and purchase behaviour amidst the pandemic that has affected businesses of MFI stakeholders.

The study covered sectors including automotive, textiles, building technologies and consumer goods, showing that 88 per cent respondents relied on exhibitions to help them with their purchase decisions.

Over 90 per cent respondents affirmed that trade fairs allow them to touch and feel the product as well as to build a relationship with the seller, which are key factors for making effective purchasing decisions, MFI said in a press release.

While there has been a strong shift with regards to the purchasing behaviour from June (53 per cent) to September (63 per cent) with a rise of 10 per cent in purchasing activity, most buyers cannot find the right suppliers while others cannot find stocks (12.97 per cent), cannot import (13.81 per cent), as per company policies (20.08 per cent), or would like to wait for exhibitions (24.27 per cent).

Even as other sourcing alternatives like online events, webinar and WhatsApp are picking up, 59 per cent buyers are finding it difficult to make purchasing decisions during COVID-19.

As purchasing activity has increased across the board, willingness to attend exhibitions also saw an increase with respondents looking at visiting the next exhibition ‘as soon as possible’ registering the highest increase of 10 percentage points.

While only 16 per cent respondents attended online exhibitions in June 2020, this trend has quickly shifted to 29 per cent in September 2020 showcasing that hybrid exhibitions will play a vital role in future.

Fibre2Fashion News Desk (DS)


Must ReadView All

Oliver Dowden. Pic: GOV.UK

Retail | On 4th Dec 2020

UK events industry likely to be back to normal by Easter

Oliver Dowden, UK secretary of state for the department of digital,...

Pic: Shutterstock

Textiles | On 4th Dec 2020

US bans cotton imports from Chinese producer XPCC

The US Customs and Border Protection (CBP) agency recently banned...

Pic: Shutterstock

Apparel/Garments | On 4th Dec 2020

PVH Corp Q3 FY20: sales $2.11 bn; net income $70 mn

PVH Corp, a US-based global apparel companies, has reported 18 per...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

The new deal is better than NAFTA for the US textile industry

Textile Industry, Head honchos

Textile Industry
Head honchos

Fashion tech has to be lean and very productive

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli, Epson, For.Tex & F.lli Robustelli

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Dejan Lalevic,

Dejan Lalevic

Mesdan SPA, a subsidiary of Italian firm Savio Macchine Tessili,...

Manoj Sorathiya,

Manoj Sorathiya

Surat-based Sunrise Imports & Exports Co is a manufacturer and...

Nitesh Mittal,

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Suresh Patel, Non Woven Federation of India

Suresh Patel
Non Woven Federation of India

The Non Woven Federation of India (NWFI), representing the regional...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


December 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search