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Karuna SharmaJan 28, 2021, 20:15 IST
Experts are now optimistic that the FMCG industry will see an appreciable improvement this year
The year 2020 was a roller coaster ride for businesses of all kinds and sizes and negatively impacted
economic growth worldwide.
However, after June 2020, one industry that continued to see stable cash flow and income was FMCG.
In today’s feature, we speak to leading FMCG brands on their outlook for 2021 as we move forward. The pandemic has taught the brandverse to be prepared for the unexpected. Owing to the fear of contracting the virus by going out, brands had to rethink and realign their strategies to reach out to consumers in new ways. Online shopping platforms opened up their services to deliver 24 7 and people started hoarding daily essentials, including FMCG products. So, many FMCG brands partnered with e-commerce platforms like Dunzo, Flipkart, Grofers, BigBasket, etc to deliver within the comfort of consumers’ homes.
With lower cost structures and nearly an 8x larger market opportunity, the B2B online grocery is a market at a nascent stage of disruption while the B2C market has already been proliferated.
The Mukesh Ambani-owned firm will be exiting from the direct sale of packaged food, grocery and FMCG products whereas the kirana stores will sell these products to consumers in their respective neighbourhoods.