Urban demand picks up after 3 quarters; though rural growth still robust
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Synopsis
Since the nationwide lockdown beginning March-end, villages had been driving the overall market growth, outpacing cities which were severely impacted by pandemic-induced disruptions, companies and analysts said. Urban growth, which was higher than rural till last year, fell behind amid the pandemic, with rural India growing 1.5 times faster than cities.
Agencies
Urban markets, especially modern retailers and supermarket chains witnessed a sharp fall in sales since the Covid-led lockdown in March.
Mumbai/ New Delhi: After three quarters of downturn, urban demand has picked up for packaged consumer goods companies riding on stronger growth in discretionary categories and companies regaining their pricing power.