FMCG companies took to apps, bet big on direct-to-consumer reach
Firms focus on product innovations, partner with delivery platforms to ensure seamless supply of goods
New linkages of firms with food aggregators, hyperlocal apps, courier firms are reshaping the old model of depending solely on wholesalers
When a lockdown was imposed in India late in March to contain the spread of coronavirus, the fast-moving consumer goods (FMCG) industry had little time to lose. Demand for packaged goods, such as staples, soaps, sanitizers, cookies and tea, surged as consumers stockpiled groceries fearing prolonged closure of stores. As markets shut down and factories closed, supply of essential goods was affected. However, FMCG firms were thinking on their feet and worked not only on product innovations, but also on solutions to ensure supply.