Inflation: While the year-on-year (YoY) category growth has been in strong double digits in May 2023, the share of smaller packs remains higher and these have grown faster (1.6%) than mid-sized packs (-2%) and large-packs (0.4%).
Sales of daily essentials and groceries, as well as electrical goods such as air-conditioners and refrigerators, fell sharply in the June quarter, hurt by unseasonal rains leading to a less-than-torrid summer in parts of the country and consumers continuing to cut back discretionary spends.
Sales of daily essentials and electrical goods declined in the June quarter in India due to unseasonal rains and consumer spending cuts. The fast-moving consumer goods (FMCG) market fell 5%, with the beverages category dropping 28%. Neeraj Khatri, CEO of Wipro Consumer Care, stated that despite improved margins and volume growth, overall growth was still muted, particularly in rural areas.