Consumers appeared to be navigating price rises by reducing purchases of certain discretionary products and moving back to unbranded products in categories like edible oil.
In the October-December (Q4/2021) quarter, the FMCG industry has witnessed a consumption de-growth of 2.6 percent due to inflationary pressure, and other macroeconomic factors
Despite restrictions on store timings and mobility in certain markets, the impact on business has been the least in the third Omicron wave compared to the previous two.
Low rural consumption remains a matter of concern for the FMCG industry, so any boost in disposable incomes, especially in rural areas, would spur consumption.
The sector expects the government to bring measures that not only maintain the consumption rate but also boost it further for the growth in the sector.
The fast-moving consumer goods (FMCG) category was the highest spender with over 62 percent increase in their influencer marketing spending as they focussed more on stay-at-home consumers.
The December quarter of 2020, was one of the fastest-growing quarters, with a 5.5 percent growth and these high baseline numbers are likely to cause another steep drop in growth rates in the third quarter of 2021
To survive the highly competitive and changing market, consumer brands need to invest in their marketing strategies, while reworking the same from time to time.
The packaged foods category has seen a significant decline in sales consistently, while the packaged staples segment saw an increase in the Q2 of 2021 as compared to 2020
The constantly evolving lifestyle demands of the consumer have always been an essential driver of change across all industries, which was only further accelerated by the Covid-19 outbreak.