Kantar, a global research firm, predicts a further decline in demand for daily groceries, essentials, and household products in India over the next few quarters. This projection extends the timeline for volume recovery in the fast-moving consumer goods (FMCG) industry, which experienced a slowdown in the December quarter. In the same quarter, overall volumes expanded by 5.2%, down from 6.9% in the previous quarter, with rural markets growing by 4.8% and urban areas by 5.6%.
Leading consumer goods companies like Britannia, Dabur, Amul, and Parle are restricting sales to organized wholesalers like Flipkart Wholesale, Udaan, and Reliance Cash and Carry to avoid margin issues and cannibalization by traditional distributors. This helps them reach the vast network of kirana stores in India.
Great India Retail Summit 2024: The event lived up to its promise, serving as a hub for prominent retail leaders, policymakers, industry experts, brand founders, MDs, CEOs, retail real estate developers, investors, technology innovators, and celebrity entrepreneurs. Together, they explored the evolving landscape of customer behavior and the dynamic challenges faced by the industry.
While demand for mainstream products has been tepid, demand for premium categories in urban markets has remained steady. Large consumer goods companies are investing in India, expecting a demand revival in the new fiscal.
The summit boasts a stellar lineup of retail pioneers, brand mavens, and thought leaders, ready to share their insights and shape the trajectory of the industry.