The media statement highlights the company’s strong performance in terms of growth and value. Narayanan, the spokesperson for the company, attributes the success to sustained volume and mix growth. This refers to the increase in sales volume and the balance between different product categories or product mixes. The company’s focus on premiumization is identified as a key growth engine that will continue to drive future growth.
Suresh Narayanan, Chairman and Managing Director of Nestle India, said, “2022 was an extraordinary year, where adversities were aplenty, where the efforts of the Nestle team and all our partners and stakeholders were stretched and where every new day brought a fresh challenge.”
In 2022, the company experienced significant growth with total sales increasing by 14.5%, and domestic sales growing by 14.8%. The success was broad-based, with growth achieved across all product categories. The acquisition of the Purina Petcare business and the introduction of Gerber cereals for toddlers are examples of the company’s continued focus on meeting the nutritional needs of its customers. The company’s commitment to producing these cereals in India further demonstrates its commitment to the local market.
The company’s e-commerce performance remained robust, with a continued focus on quick commerce and click & mortar strategies. Quick commerce refers to the fast delivery of products to customers, while click & mortar refers to a blend of online and offline retail strategies. The company’s Out-of-Home (OOH) business, which refers to sales made outside of the home, such as in restaurants or vending machines, made a strong comeback in 2022. The business was able to recover its pre-COVID base and deliver strong growth through the revamping of its geography, channel, and sales priority.
The company’s strong performance in 2022 and continued focus on meeting customer needs, premiumization, and e-commerce strategies suggest that the company is well-positioned for future growth and success.
