The data, focusing on Andhra Pradesh, Karnataka, Kerala, Tamil Nadu, and Telangana, indicated a substantial uptick in purchasing activity, with the total number of shopping trips nearly doubling in 2023 compared to 2022.
The agricultural sector has uncertainty and the upcoming general elections would not surge the consumption of FMCG (fast-moving consumer goods) products, according to Kantar Worldpanel's FMCG pulse report.
The report attributed this subdued growth to several factors, including a worldwide economic slowdown, minimal influence from the forthcoming general elections, and enduring repercussions of unforeseen weather patterns on the agricultural industry.
Kantar conducted an analysis of 418 brands across 30 categories and found that in India especially, perceptions of a brand’s purpose, its ability to ‘make people’s lives better’, is crucial to establishing a meaningful quotient.