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.
FMCG, Retail Sector in India: The footwear category grew as well but was not among the better-performing verticals with a year-on-year sales growth of 2-3% in May
Edible Oil Prices: The government said that the move will benefit consumers by ensuring the availability of edible oils and easing domestic retail prices.
While categories such as beverages and commodities topped sales charts during the year, home and personal care products saw significant demand contraction