Fast Moving Consumer Goods (fmcg)

Consumers and trade channels both deferred purchases for different reasons, say FMCG companies, hurting their September quarter sales growth. Will it cast a shadow on FY26 performance?

How should investors in FMCG stocks read unexpected negative effects of GST rate cuts?

HUL’s sales warning for September and October raises the risk of it becoming a sector-wide issue. The key points investors should be looking at to gauge the sectoral outlook

If India is Asia’s fastest growing FMCG market, is urban demand slowdown a canard?

Asia’s FMCG market saw sales grow by 2.5% in Q2 2025 while India’s urban FMCG sales grew by 9.3 percent. While this calls into question talk of a consumption slowdown, the headline numbers don’t tell the full story

Why lower income FMCG consumers’ shopping baskets are lighter

A market research survey shows expenses rising at a higher rate for lower income consumers than for higher income ones, in both urban and rural areas

GST rate cuts to boost urban consumption, give formal sector a leg-up

The overall verdict is that it is certainly positive for urban consumption, particularly in the mass consumption categories, where stress has been most visible

Will GST cuts speed up urban demand revival?

Urban consumption has been ailing and the proposed GST rate cuts are a welcome boost. But much depends on the specifics such as the final slabs and what constitutes common man or aspirational goods

Urban FMCG demand is healing, but for earnings it’s still a glass half full

Rural demand has company. Three large FMCG companies have reported a sequential uptick in demand with two of them calling out a revival in urban demand

Urban FMCG slowdown—How big of a problem is it?

For consumers to discard brand loyalty altogether and shift to loose/unbranded goods is a sign of income distress. The key question is if listed companies are worried enough to do something about it 

Can FMCG stocks benefit from this aftereffect of Trump’s tariffs?

India’s FMCG sector continues to be under pressure, showed March quarter's early updates. The unsettling of global commodity markets by US tariff hikes may, however, bring some benefits

Share of kiranas in FMCG is declining, which channel is gaining share?

Kantar’s Asia Pulse Report for Q4 sheds light on the changing shares between kirana, online shopping and supermarkets, and whether rapid expansion of Quick Commerce is showing up in the data

Unilever’s new CEO a man in a hurry, may nudge HUL to move faster

Fernando Fernandez believes US and India are Unilever’s main anchor markets and ‘accelerating in India is very important’ to him. HUL’s Investors will agree

Unilever’s CEO change may do good for HUL’s shareholders

Unilever board’s bid to accelerate the pace of change by appointing a new CEO is likely to have a knock-on effect in one of its key markets—India

FMCG outlook remains tough although valuations have eased

The headwinds that have held the sector’s fortunes down are not showing signs of easing up as yet

Should the Budget do anything to spur consumption?

Rural consumption is in good health while urban consumption trends remain weak. Should the Budget wait for urban consumption to right itself or introduce measures to boost it is the main question

Quick Take | HUL results show FMCG urban consumption malaise continuing

The near term outlook remains tough with consumption expected to moderate and EBITDA expected at the lower end of its 23-24 percent guidance

Is Quick Commerce’s threat to kiranawalas in the FMCG market overstated?

Kantar data shows that kiranawalas have lost share in Q3’24 but not to online commerce. Shopping trips and spend per trip show what may be bothering them more

Premiumisation theme in consumption faces a few key risks

Even as consumption growth has slowed down, well-off consumers continue to shop till they drop. Companies and investors have noticed this trend but the possibility of higher tax rates on such goods is a risk to be watched out for

Upwardly mobile consumers are shaking up the FMCG market

Data from NielsenIQ on growing preference for premium brands across categories, driven by new channels such as Quick Commerce, poses tough questions for listed FMCG companies and their investors

Is it time to press the panic button on urban FMCG demand stress?

Rural demand may be recovering but its bigger counterpart in cities appears to be under pressure. What are the likely reasons and should investors be worried?

Warm outlook for FMCG companies has suddenly turned a tad cold

Weather-related demand disruptions, rising input costs that are not being passed on due to competition, a risk of sales growth and margins missing the target are some risks that have built up 

FMCG margins to gain from lower costs, but sales growth faces a big risk

Commodity prices remaining stable or soft is what FMCG majors would like, when material costs decline sharply there’s an acute risk of smaller players stealing a march over the bigger ones

Chart of the Day: Kirana’s FMCG channel share is steady in 2024, so where’s the threat?

Overall market share appears stable but the real story lies in other metrics such as growth within online shopping, and the number of shopping trips and spend per trip

No major consumption boost in Budget, but Street remains optimistic

The Budget 2024 did not contain measures that could directly benefit consumer demand, preferring to invest in building blocks that could lead to future consumption opportunities

Is there a tide that can lift all FMCG boats?

A sharp jump in FMCG shares raises the prospect of a sector re-rating on the anvil. While there may be some truth to that, it’s not a sure thing

Dabur’s rural thrust pays off

The FMCG company’s sales growth in rural markets trending ahead of urban markets is in contrast to the rural slowdown story playing out in the sector