FMCG companies say business is recovering: Report
Coca-Cola and PepsiCo too have reportedly witnessed out-of-home consumption picking up.
According to the senior executives of large FMCG companies, Indian businesses have recovered swiftly after the second wave of the pandemic. This comes on the back of a pick up in demand from the end of June, as states started easing curbs and restrictions on mobility and retailing progressively following the second wave of the pandemic which had hurt the sales of essential and lifestyle products in the April to June quarter, according to a report in The Economic Times.
As infections fell sharply and the vaccination gained at a rapid pace, several products saw pent-up demand in September.
Apple’s India business doubled in the past year
Companies like Apple, Unilever, Coca-Cola, PepsiCo, Visa, Pernod Ricard, Hershey, Kimberly-Clark and Yum Brands have posted strong YoY growth in India sales in the July-September quarter.
Apple Inc in its earnings call on Friday said that India business has doubled in the past one year and the iPhone maker is positive about the future due to its strong demand for its products.
Visa Inc said that India payments volume has fully recovered from the low hit during the severe Covid-19 outbreak in the June quarter. The payment technology company has seen the rebound from July itself, when it was well above the pre-pandemic levels two years earlier.
Unilever global said that the company is emerging stronger from the pandemic with more than 75% of its businesses winning market share and household penetration continuing to grow well.
Coca-Cola and PepsiCo too have reportedly witnessed out-of-home consumption picking up.
Download Money9 App for the latest updates on Personal Finance.
