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A new report by Kantar has said that FMCG in India is more resilient than its Global conuterparts and the growth is returning, despite a flat volume growth between February and April 2023

Indian FMCG sector stronger than Global peers: Report

A new report by Kantar has said that FMCG in India is more resilient than its Global conuterparts and the growth is returning, despite a flat volume growth between February and April 2023

The Indian FMCG sector is reportedly more resilient than its global peers, as per Kantar consultancy. "While global inflation, wars in other parts of the world and geopolitical issues are having a ripple effect on economies everywhere, the FMCG business in India is much more resilient than some of its global counterparts", said a Kantar report
This comes, even as the rapid price rise has induced a 10% cut in the consumer spending between June and November 2022. The report mentioned that, even as the volume growth in the FMCG category fell flat between February and April 2023 with an associated drop in consumption, the growth is returning.&nbsp;
However, the report added that consumer caution is expected to continue through 2023 with inflation expected to continue to rise. The convenience sector is expected to grow in double digits but slower than the 21% growth of the last 12 months.&nbsp;
As per the reports, Snacking category which saw a spike in growth during the pandemic and until a few months ago will slow down further. Kantar expects the growth of snacking to slow down to under 3% this year. Cold drinks sector saw a growth of 47% in the year ending till January 2023. But the majority of growth was seen during the first half and and the second half didn't perform well.&nbsp;&nbsp;
Home hygiene sector which registered just 0.6% of growth in 12 months ending till January 2023 might see a slight improvement in 2023. However, the increase will be minimal.&nbsp;
According to the Kantar report, more than two-fifths of consumers feel prices have increased across various categories like fuel, electricity, and staples such as milk, atta/wheat and rice. The report noted that even though the prices are rising, consumers are not compromising on the essential things. The report expects the consumers to move to cheaper alternatives within the household categories.
But, if prices continue to rise further, Indian consumers will cut out non-essential spending like entertaiment, convenience goods, travel, says the Kantar report
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RBI's consumer confidence survey shows a marked improvement in consumers' expectations of the overall economic scenario in the year ahead. Consumer confidence hit rock-bottom in mid 2021 during the pandemic. 

RBI: Consumer confidence sees further improvement 

RBI's consumer confidence survey shows a marked improvement in consumers' expectations of the overall economic scenario in the year ahead. Consumer confidence hit rock-bottom in mid 2021 during the pandemic.&nbsp;

Reserve Bank of India's latest consumer confidence survey shows improved sentiment about the general economic scenario for the current period as well as for the year ahead. However, despite an improvement, and the fact that overall consumer confidence has been moving in an upward trajectory, the current perception of consumers still remains in the pessimistic zone. Future expectations of consumers, meanwhile, has seen a sharp improvement and is in the optimistic zone.&nbsp;&nbsp;
"Consumers&rsquo; sentiment on current expenses witnessed some moderation but their expectations on overall spending improved marginally for both essential and non-essential items", the survey said.&nbsp; 52.1% of the respondents' perception of the current general economic situation has worsened but 50.2% expect it will improve in the year ahead. For employment as well, 49.9% feel the situation has worsened, but 51.8% expect the employement scenario to improve in the year ahead.&nbsp;&nbsp;
The consumer confidence survey assesses consumers&rsquo; sentiment about the general economic situation, employment scenario and their own spending and savings capability. An index value below 100 shows pessimism, while a value that's above 100 reflects optimism.&nbsp;
Consumer confidence has been on the rise ever since it hit rock bottom in mid-2021, amid the pandemic.
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The pandemic has brought people a lot closer to their roots and as buyers, people are increasingly seeking locally produced items.

Study reveals that the pandemic has brought consumers closer to their roots

Due to the pandemic, consumers are more attracted to purchase products that connect them to their place, people and the past: Study
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COVID has brought consumers closer to their roots: Study

The pandemic has caused a mental upheaval&nbsp;in the minds of the consumers, who now feel more rooted when they buy locally produced items.

The pandemic has brought people a lot closer to their roots and as buyers, people are increasingly seeking locally produced items. During the <a href="https://www.editorji.com/covid-19" target="_blank">COVID-19 pandemic</a>, consumers are buying products made by small-scale local businesses that remind them of their childhood and family.
This has been discovered by researchers at Vienna University of Economics and Business and Cornell University. The study published in the Journal of Marketing has been authored by marketers Isabel Eichinger, Martin Schreier and Stijn M.J. Osselaer. Also watch:&nbsp;<a href="https://www.editorji.com/story/early-covid-19-symptoms-differ-amongst-different-age-groups-and-sexes-study-1628574914043">Early Covid-19 symptoms differ amongst different age groups and sexes: Study</a>
The dual forces of digitisation and globalisation have made the social and work lives fast-paced and mostly virtual. This has increased the consumers&rsquo; need to feel grounded during the worldly chaos caused by the pandemic, according to the study. Stating the example of apple pie, the study revealed that participants who felt more rooted by using local apples to make homemade pie, also felt stronger, safer and more stable to withstand adversity.&nbsp;
The report also made some suggestions for marketers and policymakers to leverage this rootedness. While marketers must strategically target customer segments with a higher need for groundedness, policymakers should consider this behavior as a driver of consumer well-being. Also watch:&nbsp;<a href="https://www.editorji.com/story/can-tears-spread-covid-here-s-what-the-experts-are-saying-1629520774941">Can tears spread COVID? Here's what the experts are saying</a>

As a prelude to the holiday shopping season, consumer groups like U.S. PIRG (Public Interest Research Group) Education Fund are warning parents of the threats posed by some toys. After tests, it was found that Slime toys contained high levels of boron, a toxic chemical. However, the Toy Association, American trade association for the toy industry, called it misleading.

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