India Ahead of The APAC Curve With Double Digit Growth in FMCG, Tech, Durables: NielsenIQ Report Report by NielsenIQ shows India dominating the APAC region in FMCG and tech durables
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India has solidified its position as a powerhouse in the Asia-Pacific region, driving impressive double-digit growth across key sectors like fast-moving consumer goods (FMCG), technology and consumer durables. This surge is fueled by the growing trend of premiumisation and a robust festive shopping season, as per the latest insights from NielsonIQ's report, 'Full View of Modern Trade Retail Trend'
The report highlights that the premium-plus pricing segment now commands a substantial share of the market, contributing nearly 40 per cent to FMCG sales and 30 per cent to tech and consumer durables. This shift reflects the evolving preferences of Indian consumers, who are increasingly inclined towards higher-quality and premium products.
Moreover, the study reveals a significant trend in consumer behaviour as 41 per cent of urban Indian shoppers research products online but ultimately make their purchases in physical stores. This indicates a blend of digital savvy and traditional retail loyalty, underscoring the dynamic nature of India's consumer market.
"India emerges as the only market consistently delivering double-digit growth in both the FMCG and tech & durables sectors, underscoring the resilience and evolving preferences of Indian consumers," the report said.
The report mentioned that private labels are growing 1.5 times faster than large manufacturers, particularly within the mainstream pricing segment. On the other hand, small players are driving 70 per cent of new launches in modern trade, focusing on natural ingredients and luxury pricing that is more than 200 times the category average price.
"To stay competitive, businesses must strategically optimise their product assortment, ensuring enhanced visibility and maximising ROI from the modern trade channel. That way, brands can effectively leverage the channel's consistent double-digit growth and secure a stronger foothold in this evolving market," the report continued.
