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Last Updated : Jul 08, 2020 01:54 PM IST | Source: Moneycontrol.com

Consumer goods sales return to pre-lockdown levels: Report

Some segments of the broader consumer industry may be recording sales higher than the year-ago period.

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After gradual reopening of the economy, consumer goods sales recovered in June to levels seen before the lockdown.

Supply chain disruptions and restrictions on operations did not hurt demand, companies told The Economic Times.

Some segments of the broader consumer industry may be recording sales higher than the year-ago period, the report said.


Moneycontrol could not independently verify the story.

"Within urban, the retail markets are yet to fully recover in terms of their operations. But the local city wholesale continues to show spine. Overall demand has steadily improved in May and June as compared with April," said Sunil Kataria, CEO, Godrej Consumer Products told the paper.

During the lockdown, there was a spike in sale of household and packaged food items due to panic buying, The Economic Times reported.

"The June quarter growth is even better than that of last year as at-home consumption increased while access to outside food was restricted," Varun Berry, Managing Director at Britannia Industries told the publication.

Companies in the consumer electronics and appliance space, such as LG, Sony, Bajaj, Panasonic and Voltas, have recorded 95-100 percent of their sales in June 2019, but sales growth for the quarter will still be half of the year-ago period, the report said.

Marico, whose brands include Parachute and Saffola, said the company experienced "significant disruptions" in the first two weeks of April, but operations have returned to near-normal levels in June.

"With the Q1 top-line translating into a single-digit growth over the annual run rate of FY20, the company expects to bounce back to posting volume and value growth during the rest of the year," Marico said in a statement to stock exchanges on July 3.
First Published on Jul 8, 2020 01:54 pm