India's fast-moving consumer goods (FMCG) market has expanded 10 percent in January year-on-year from 2021.
Experts believe that this indicates that the third Covid wave buoyed consumption for daily essentials and groceries.
Even in discretionary products like televisions, refrigerators, and smartphones, leading companies said they have grown sales at a double-digit percentage pace in January despite initial hiccups, according to retail intelligence platform Bizom.
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"We are seeing a significantly lower impact even on a month-on-month sales basis compared to earlier waves. Commodity products continue to grow sales despite an easing of prices for key products like edible oils, indicating strong consumption," said Akshay D'Souza, Chief of Growth and Insights at Mobisy Technologies, which owns Bizom.
Also, 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.
Moreover, commodity and packaged foods grew 43 percent and 38 percent each while sales of home and personal care products fell.