FMCG sector needs to reignite volume expansion, embrace distribution innovation, say experts
FMCG sector needs to reignite volume expansion and embrace strategic innovation to maintain growth, Pidilite Managing Director Bharat Puri said on Wednesday amid the FMCG companies reportedly facing subdued growth during October and November hit by the slowdown in urban demand. «To maintain growth, the FMCG sector must focus on reigniting volume growth and embracing strategic innovation. Companies have shown that market outperformance is possible through product and distribution innovation,» said Puri at a Summit on the FMCG sector hosted by the CII here.
Noting that modern trade and quick-commerce channels are thriving, offering new growth avenues, he said insurgent brands are capturing significant growth by winning the hearts of underserved customers.
«To stay competitive, companies must innovate, invest in digital capabilities, and adopt entrepreneurial operating models, while maintaining robust data strategies for personalized engagement,» Puri, who is also the chairman of the CII, FMCG National Committee, added.
The summit was attended by representatives from leading brands such as Tata Consumer Products, Britannia Industries, Pidilite Industries, Godrej Consumer, HUL, among others.
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