2 Oct 2023
FMCG sales grew by up to 12%, car sales by 5%, and smartphone sales by 2% in July and August.
Continuing the annual trend, FMCG, phone, and car sales rose in the quarter ending September 2023. FMCG sales, which experienced a major decline since the second half of 2021 due to pandemic related demand and high inflation, rose by up to 12% by value and by 15% by volume in the last quarter. Rural India has been a steady contributor to this growth. Eatables and washing products, like detergents, sold well, while personal care products weren’t far behind.
Mid to premium range electronics drove sales growth in India. High valued items like TVs and washing machines saw a jump in sales, while entry level products didn’t budge. Vijay Sales and Reliance Retail reported sales growth in double digits.
Consumer demand for SUVs, combined with enhanced availability of semiconductors, pushed the growth figures past 5% for the auto industry. Among them, Maruti Suzuki alone witnessed an uptick of 24% around Onam.