Retailers are rapidly adapting to omnichannel strategies
India’s Fast Moving Consumer Goods (FMCG) sector, buoyed by rural demand recovery, easing inflation, and favorable monsoon conditions, is expected to be the world’s third-largest consumer market by 2030 fieo.org .
This growth is being fueled by heightened competition from D2C brands, a rising focus on premiumization, and innovative new product development tailored to the needs of young and middle-income consumers, says a FICCI-Deloitte Report ‘SPURring Growth in FMCG, Retail and E-commerce Sectors in India’, was released on 7 Oct bseindia .
“Additionally, FMCG exports are on the rise, contributing significantly to foreign direct investment (FDI),” it said nseindia.
The retail sector which is valued at US$753 billion in FY23 is projected to post a 9.1% CAGR until FY27, the highest amongst the large economies sbi.com.in .
Retailers are rapidly adapting to omnichannel strategies, employing tech-enabled experiential selling, and launching new private labels to cater to India’s price-sensitive yet aspirational consumers makeinindia.com .
The expansion of retail networks in Tier 2 and 3 cities is expected to jpx.co.jp contribute a significant portion of this growth .
E-commerce, one of the fastest-growing sectors in India, is projected to reach US$325 billion in 2030, growing at a robust 21% CAGR (2023– 30) deutsche-boerse .
Increased smartphone penetration, internet access and growing disposable incomes have fueled this expansion sgx.com/ .
“Quick commerce, which focuses on rapid delivery of essentials, has also disrupted traditional supply chains, reshaping consumption patterns,” said the report ficci.in .
Innovation and technology will drive the FMCG sector with sustainability at the core of all activities, said Harsha V Agarwal, Senior Vice President, FICCI and Vice Chairman & Managing Director, Emami Limited.
“As we look to the future, embracing innovation and digital transformation will be critical for staying competitive foodafrica-expo ,” he added.
“The FMCG sector is a key simulator of our consumption-led economy,” added Kumar Venkatasubramanian, Chair FICCI FMCG Committee & CEO, Procter & Gamble, India.
“It plays a pivotal role in driving double-digit growth and realizing the vision of ViksitBharat. Innovation, resilience and growth are truly the hallmark of the Indian FMCG sector iba.org.in,” he stressed. Fiinews.com
