These pricing actions are part of an all-out effort by the companies to improve volume sales which is crucial for the industry to expand their sales. The industry is expecting volumes to grow significantly from March-April onwards with lower and stable pricing, increased government spending ahead of general elections, and higher farming income aiding the recovery process. For FMCG, it is also to fight the increased competition from regional brands.
All these pricing actions are part of an all-out effort by the companies to improve volume sales which is crucial for the industry to expand their sales. The industry is expecting volumes to grow significantly from March-April onwards with lower and stable pricing, increased government spending ahead of general elections, and higher farming income aiding the recovery process. For FMCG, it is also to fight the increased competition from regional brands.
Indian Consumers: While the affluent segment gravitated toward luxury apartments, high-end cars, and premium consumer goods, lower-income brackets grappled with inflation and rural hardships. Sales surged for luxury items, bustling malls and restaurants, alongside a spike in hotel room rates due to heightened demand. Conversely, FMCG companies faced stagnation in selling everyday items like biscuits, soaps, shampoos, and perfumes, yearning for increased consumption rates.
Wipro Consumer Care and Lighting is expanding its direct-to-consumer (D2C) business with its global brand Bio-essence, targeting the premium segment in India. The company plans to launch ethnic ready-to-cook breakfast and South Indian snacks, targeting the premium segment in areas like facial care, cleaners, moisturizers, and toners.
Business-to-business (B2B) ecommerce firm Udaan has raised $340 million through conversion of its debt and fresh equity infusion. This and more in todays ETtech Top 5.