The slowdown in private consumption in the economy is taking a toll on the growth of fast-moving consumer goods (FMCG). The net sales growth of listed FMCG companies hit a 14-quarter low of 2.5 per cent in October-December 2023 (Q3FY24). This is the lowest revenue growth for the industry since the June 2020 quarter, when the FMCG firms in the Business Standard sample had reported a 13.2 per cent Y-o-Y decline in combined net sales owing to the lockdown.
While Unilever has been aggressive, both organically and inorganically in the country, P&G's approach has been about achieving 'balanced growth' in terms of top line and bottom line.
P&G Hygiene and Healthcare's June quarter numbers were better than Street estimates, led by strong sales and robust margins. The company, which owns leading consumer brands like Whisper, Vicks and Old Spice, posted a 12.6 per cent year-on-year (Y-o-Y) growth in sales at Rs 852.5 crore during the quarter. The double digit sales growth, led by expansion of its distribution reach, reverses a sluggish sales graph with three of the last four quarters reporting a fall in sales.
With India contributing only 2% to its revenues, the multinational is focusing more on key markets like the US and China.
The government will develop a mechanism to ensure that e-commerce companies and entities that have adopted Open Network for Digital Commerce (ONDC) architecture are compliant with the rules. Non-compliance may result in a penalty. "We will have our own evaluation system, and if we find any player is not sticking to it, then we will take action. "Participants will have to be compliant with the rule of the land," Sanjiv, joint secretary at the Department for Promotion of Industry and Internal Trade (DPIIT), told reporters on Thursday.
There have been complaints from consumers that the firm has increased the base price of products and then charged the lower GST rate, thereby keeping the MRP of products the same in pre and post tax rate cut.
Berkshire has owned P&G stock since P&G bought Gillette Co in 2005. Buffett had invested in Gillette since 1989.
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The country's largest retailer Reliance Industries on Monday announced that it will enter the fast-moving consumer goods (FMCG) business this year as part of its expansion plan. Addressing the 45th AGM of Reliance Industries on Monday, Reliance Retail Ventures Ltd (RRVL) Director Isha Ambani said: "This year, we will launch our FMCG goods business". The objective of this business will be to develop and deliver products and solve every Indian's daily needs, with high-quality products at affordable pricing, she said while addressing Reliance Industries' annual general meeting.
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India is Facebook's largest market with 250 million active monthly users. Along with Google, it has a 70 per cent share in the Rs 1,000 crore domestic digital ad market.
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Improve speed of delivery, introduce smaller packs, create greater value
As a market leader, the company will continue to see a spate of new competition going forward. Unless the demand outlook improves or the company finds new growth engines, cost-cutting measures alone will not be of much help.
"We will continue to grow in emerging markets and focus even more in winning consumers in India and China," Robert McDonald, who takes over as P&G's new President and CEO from July 1, said. "If, over time, we increase the per capita consumption in both India and China to the level we see currently in markets like Mexico it would generate an incremental $40 billion in annual sales," he said.
Global FMCG major Procter & Gamble is bullish on winning consumers in emerging markets of India and China as it eyes increased sales in the two strong economies, its new chief said on Thursday.
"When my friends used to go for movies, restaurants, vacations etc, I used to write," the author told students of UPES, Delhi.
This website targets young women where they can find out solutions to problems ranging from periods, love, body, teenage issues and so on. "In the near future we will also have a blog site," added the spokesperson.
From March 3, investors in India will be able to trade in select US stocks through the NSE International Exchange (NSE IFSC), a wholly owned subsidiary of the National Stock Exchange (NSE). Investors can invest in NSE IFSC receipts on US stocks, which will be in the form of unsponsored depository receipts (DRs). For a start, this will include DRs of 50 US stocks such as Apple, Alphabet, Amazon, Tesla, Microsoft, Morgan Stanley, Nike, P&G, Coca-Cola, and Exxon Mobil. Indian retail investors will be able to transact on the NSE IFSC platform under the Liberalised Remittance Scheme (LRS) limits prescribed by the Reserve Bank of India (RBI), which currently stand at $250,000 per year.
Procter & Gamble on Thursday announced a 16 per cent price cut in the 'Pantene' range of shampoo to take on competition from arch rival Hindustan Lever Ltd.
US major Procter & Gamble Company plans to increase its stake in the Indian arm, which sells brands like Vicks Vaporub, to 71 per cent by purchasing 2.65 per cent equity of P&G Hygiene and Healthcare.
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Impending launch of Oral-B toothpaste in India, recent spate of product launches in other developing markets indicate shift in strategy.
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HUL, the country's largest FMCG company, saw sales volume fall by 4% for the December quarter.
In the annual Best Companies for Leadership Study by the global HR consulting firm, the Tata group shared the limelight with other global companies like Procter & Gamble, IBM, Coca-Cola and Unilever.
The group's much-touted acquisitions in recent years follow a series of disappointments in joint ventures.
The Delhi High Court on Friday stayed the ban on some fixed dose combination (FDC) drugs of Glaxo SmithKline, Wockhardt and Laboratories Griffon but said action against their sale could be taken in the absence of valid sale and marketing licence.
India will be the global host this year for World Environment Day, with the theme "Beat Plastic Pollution".
Relatively new brands of HUL, such as Closeup, play second fiddle to other legacy brands such as Colgate from Colgate-Palmolive and Vicco.
P&G announced on Wednesday that it was reducing the prices of select stock keeping units of Whisper and Pampers by three and 15 per cent, respectively.
Globally, companies like Coca Cola, P&G and Unilever have adopted the performance-based model. In India, the trend is gradually catching on. A Coca Cola India spokesperson said the company is in the process of moving from an input-cost based compensation system for its agency partners towards a value-based one. This model is about paying agencies for results, not activity. HUL refused to comment, citing policy constraints on speaking about remuneration.
"If at all Godrej plans to buy out the global household business of Sara Lee, there will be strong competition from multinationals like Unilever and P&G. So, it is unlikely that GCPL will go ahead with it," a research analyst from Religare Capital Markets said.
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