In a notable shift, local and regional firms have made significant inroads, reaching up to 31% more households in key segments like biscuits, soap, washing powder, and detergent during the September quarter. This trend has caught the attention of chief executives at major consumer goods companies, who are now acknowledging the resurgence of smaller brands and its consequential impact on their sales growth.
The ripple effects of the COVID-19 pandemic, coupled with rising interest rates, have led to a large increase in the cost of consumer goods. Brands were able to justify the price increases as the cost.
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