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The pick-up in sales is seen as a ray of hope as markets were yet to open fully
Raising hopes of faster recovery, consumer goods sales have picked up in rural markets and small towns in June. Top FMCG brands such as Parle Products, Amul, Dabur, Emami and electronics brands such as Xiaomi and Realme recorded 5-15% growth (y-o-y) in revenue in June, The Economic Times reported quoting industry executives. The pent-up demand also helped sales grow.
The pick-up in sales is seen as a ray of hope as markets were yet to open fully.
Consumer demand is showing a sequential uptick as states are lifting restrictions and local markets are opening up, Dabur chief executive Mohit Malhotra is quoted as saying in the daily.
Chyawanprash, honey and immunity-building products are doing particularly well in rural markets, according to the business newspaper.
Emami director Mohan Goenka is pinning further hopes on a good monsoon. “While we are relying on a good monsoon, there is still fear among rural consumers after the severe impact of the second wave and (with) several (workers) yet to migrate back to cities, (it is) impacting remittances back home.”
Parle Products registered single-digit growth in June. Senior category head Parle products Krishnarao Buddha told the daily. “There are no visible signs of a slowdown in consumption and July prospects should be better due to the monsoon, unless infection rate surges again.”
According to Economic Times, the country’s largest dairy brand, Amul, clocked a 15 % sales growth in June.
Buoyancy in sales
Sales of smartphones, laptops, washing machines and refrigerators too have been buoyant in smaller towns and rural areas, the daily reported
Led by rural and small-town sales, June revenues of Realme doubled, according to Madhav Sheth, CEO at Realme, India and Europe.
Good show in June
A Xiaomi spokesperson said demand was good in June for smartphones. The company posted sales of Rs 200 crore within the first week of the launch of a new model, the spokesperson said.
Personal computers and printers also witnessed good demand. “In PCs, a strong bounce-back of demand is seen from students, gamers and gig workers, whereas the demand from large enterprises and small businesses continues to remain extremely buoyant as the second Covid wave has further accelerated digital transformation initiatives,” Gurpreet Singh Brar, director and head, channel sales, HP India, is quoted as saying in the Economic Times.