The Impact of Coronavirus on Indian FMCG Industries

17/giu/2020 11:12:07 SophiaJones Contatta l'autore

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Market Reports on India Provides the Trending Market Research Report ‘The Impact of Coronavirus on Indian FMCG Industriesunder Business Services Category. The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.

Impact of Coronavirus on Indian FMCG Industries

COVID-19-led stringent lockdown has restricted economic activity across the country and has impacted the economy’s growth even further. The lockdown which began 24 March has restricted manufacturing activities and disrupted the supply chain across industries bringing the economy to a standstill, with the recovery post-lockdown likely to be slow.
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HOME SECLUSION DRIVES DEMAND FOR ESSENTIAL PRODUCTS
With people restricted to their homes coupled with limited access to foodservice, consumers are cooking more at home which has increased the demand for packaged food and home care products. Concern about infection will keep consumers under home seclusion post-lockdown as well and contribute to demand for these products remaining stable.

Consumers to spend more cautiously on non-essential items
Discretionary categories to see biggest impact during and post the lockdown. Furthermore, the economic impact leading to salary cuts and increased unemployment levels will make consumers more cautious about their spending on discretionary categories at least in 2020.

INCREASED FOCUS ON HYGIENE AND PERSONAL WELLBEING
The heightened awareness of personal hygiene and health, due to fear of contracting the virus, has led to a surge in sales of personal and home care products including liquid hand wash and sanitisers, laundry and surface care. Consumers are also paying more attention to their health, which is aiding the demand for immunity-positioned supplements.

CONSUMER SHIFT IN CHANNEL PREFERENCES WILL BE EVIDENT
Consumers will continue to avoid crowded places and look for safer access to products and services in 2020. While traditional grocery retailers will see a short-term spike in demand due to ease of access, e-commerce will benefit in 2020 and beyond as more consumers start to shop online.

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