In a matter of months, social distancing, panic buying, major staff shortages and stretched supply chains have all placed FMCG manufacturers and retailers under immense pressure. It has led to the biggest retail reset in decades. We are slowly & silently entering the ‘next normal’ which will see almost everything about the industry needing to change and adapt. Let us go through this week’s “Indian Retail at a Glance” to see how retail fared in the past week.
Winning the ‘new’ consumer
Restructuring businesses, strengthening supply chains, introducing new products and adapting digital to the core have been priority for most CPG players.
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Five things on consumption shift during covid
As India moved to prevent the spread of covid-19 with a lockdown late March, household budgets and consumer behaviour have since shifted. After months of pantry loading, consumers are now turning more value conscious. CLICK HERE TO READ MORE
Festive season spend may dip by 33% this year; property, auto to bear the brunt
Most of the consumers said that they will spend money on grocery and food supplies, 19 per cent on white goods and appliances, 15 per cent on smartphones and consumer electronics, 11 per cent on home renovation and 8 per cent on fashion and festive wear.
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According to Kearney, Consumer-centric innovation is fuelling growth
The focus on premiumisation across consumer goods has resulted in consumers switching to high-end products, and that the pursuit of cost reduction has been a key attribute followed by companies.
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With Tata set to take on Ambani, this is how a high-stakes, all-out retail war is about to play out
Tata Group is talking to Walmart for a $25 bn investment in a “super-app,” a multipurpose online platform combining fashion, lifestyle and electronics retail, food and grocery, insurance and financial services, as well as digital content and education.
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Elevating consumer experience in a phygital world
This pandemic has provided businesses a chance to transform their approach to customers by integrating online and offline channels and achieve a phygital strategy, one that balances physical and virtual worlds.
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CEOs indicate business sentiment revival
The CEOs of top 115 companies who met at CII's National Council earlier this week indicated revival of business sentiment and a gradual rise in expected corporate performance in a poll, raising hopes that a steady recovery of India's economy is on the anvil.
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Digitizing customer experience and direct-to-consumer models in FMCG
Covid-19 is changing customer behaviour, altering purchasing patterns and engagement touchpoints. A recent survey revealed that approximately 51% consumers feel unsafe in going to brick and mortar stores and over 80% are concerned for their family’s health.
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Big FMCG brands overcome challenges, close gap with smaller players
Racks at local grocery stores are, nowadays, packed with popular trademarks. However, this wasn’t the case a few months ago. At the height of the lockdown small and regional names in food and FMCG beckoned for attention, seeing a sharp spike in off-take.
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Demand soars for warehousing on supply chain gaps
India’s major warehousing hubs are set to see a rise in rentals as severe disruptions in supply chains due to the pandemic forces companies to keep inventory close to major consuming centres on hopes of a gradual recovery in demand.
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Marico sees FMCG demand revival during Sept quarter
In what signals an uptick for the FMCG sector, Marico has talked about a partial revival of consumer sentiment in an update for the September quarter. CLICK HERE TO READ MORE
SBI, HUL partner to provide digital solutions to small retailers
SBI will provide paperless instant overdraft facility to retailers to enable payments to distributors and UPI-based solutions to HUL's retailers to assist with cashless payments.
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