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Fast-Moving Consumer Goods(FMCG) major ITC Ltd is witnessing an uptake of premium products in rural areas.
“We are seeing a more democratic increase in the footprint of our premium brands in rural areas as well. We have been witnessing encouraging growth in rural markets on the back of our interventions including expanding market coverage and number of stockists together with the digitisation of the entire rural distribution network,” Sameer Satpathy, Chief Executive of personal care, ITC Limited, told businessline.
The company has around 32 per cent share of premium products in its personal care product portfolio.
“We have witnessed robust demand and growth for our premium products. On the other end, low-unit price packs are also doing well. if you look at the last quarter’s financial results, it is an all-round performance across segments and geographies,” he said
Earlier, Hindustan Unilever Limited(HUL) had also said its premium brands are growing faster than popular brands while popular brands are growing faster than mass products.
E-commerce has contributed to the company’s growth in rural areas, “A large quantum of demand for our portfolio of FMCG offerings on e-commerce comes from smaller towns,” he added.
Natural products
ITC Limited plans to increase its focus on natural products after witnessing the change in consumer preferences.
“There is an increasing focus on natural given enhanced consumer preference for natural products. Going forward, you might see more action on this front,” added Satpathy.
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