Grocery Sales In India Rose By 8.5% Between April And June, Study Finds
Grocery sales in India grew by 8.5% in value terms and 4.3% in volume terms between April and June 2020, data from Kantar has shown, as shoppers stocked up on products due to COVID-19 restrictions.
India's Economic Times, which reported the figures, said that the quarterly growth marked a two-year high for FMCG sales in the country.
"From a household purchase lens, FMCG overall seems fairly strong, the paper quoted K Ramakrishnan, Kantar's South Asia managing director, as saying.
"While out of home consumption may have seen a sharp drop, the household view is one of positive growth."
The paper noted that some firms have seen buoyant growth in recent months, as a result of consumer stockpiling.
Britannia, which produces the Good Day and Tiger biscuit brands, saw sales rise by 25%, it said, while Hindustan Unilever reported strong sales for products such as jams and ketchup, and ITC saw sales of cupboard staples soar.
Economic Times reported that while food firms have in general performed strongly, many beverage firms have struggled due to the closure of the HoReCa sector.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine