FMCG Sector Planning Big this Festive Season

FMCG companies are trying hard to stick stiff in the market amidst the pandemic. Especially when they have seen a dicey sale. The growth rate chart of the FMCG sector dropped to 6% from the previous 10% since 2019. The consumer durable industry alone lost nearly 12% of its overall revenue during the lockdown.

Where in the Consumer Care market, Hygiene products boomed, the skincare and grooming products demeaned. Likewise, miscellaneous food items’ demand increased nevertheless stock of food items faced a lack due to the shut-off food outlets.

 Strategies to Re-generate Revenue

The major corporate boons in the FMCG sector are planning to increase their sales keeping the consumers’ demand and safety in the forefront. Nielsen India even suggests in its recent survey that the FMCG sector may see a surge in the festive season. Hence to regain the trust and profit from the consumer they are strategizing new ways of growth after the diminishing demands.

●     To increase the offline sales some major FMCG corporations are collaborating with govt. to convert millions of Kirana stores into sanitized retail outlets. This will increase the local demands along with the increasing online sales.

●     Planning to spend more on advertising, campaigning and marketing communication to spread a vast reach.

●     Collaborating with delivery brands like Zomato and Swiggy to profound sales.

●     Bigger companies like Panasonic are reviving their manufacturing back to the 100% production, which was lowered to 30% during the pandemic.

●     Targeting growth with the exclusive consumer offers and finance schemes around the festive season.

 Along with, the government’s recent indication that they could announce some stimulus measures for demand revival during the festive season is another relief for the FMCG sector. As the last three quarters were stressful the sector is expecting a good raise in the helm of Diwali and Dussehra.