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Mondelez India celebrates 75 years of joyful snacking, unveils special initiatives to commemorate milestone

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Special collector's edition box of Cadbury Dairy Milk bars
Special collector's edition box of Cadbury Dairy Milk bars

Mondelez India, renowned for crafting and baking popular snacking brands like Cadbury Dairy Milk, Oreo, Bournvita, and more, joyfully celebrated its 75th anniversary in the country. Since its inception in 1948, when it introduced the delightful taste of Cadbury Dairy Milk chocolates, the brand has consistently expanded its diverse snacking portfolio over the past seven decades. Throughout its journey, Mondelez India has remained dedicated to its mission of empowering people to make wholesome snacking choices.

India continues to stand as one of the company’s most crucial drivers of growth. The company’s triumph can be attributed to its unwavering dedication to providing top-notch products, promoting innovation, establishing a strong manufacturing and distribution network, and staying attuned to the ever-changing preferences of consumers. As the team in India commemorates this momentous occasion, Mondelez India remains committed to shaping delightful snacking experiences for future generations while staying true to their core values and mission of crafting the perfect snacks for every occasion, with a focus on creating shared moments of joy.

In honor of its 75th anniversary, Mondelez India has organized a series of initiatives to express heartfelt appreciation to its valued consumers, trade partners, and employees, all of whom have been instrumental in the company’s remarkable journey. These thoughtful initiatives encompass a range of engaging activities, such as the release of a special collector’s edition box of Cadbury Dairy Milk bars adorned with vintage packaging, available on various e-commerce channels. Additionally, Amazon Fresh has made a historic change by adopting the iconic ‘Cadbury’ purple color for its platform layout. Furthermore, the company has collaborated with Flipkart to curate a dedicated metaverse experience, offering a unique and immersive interaction on their platform, along with several other exciting endeavors.

As the company enters a new chapter and ramps up its investments in the country, it remains committed to fostering innovation, adaptability, and agility. By staying attuned to the ever-changing needs and preferences of Indian consumers, it will continue to be a reliable and cherished snacking companion for the nation.

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Premium whisky maker Whyte & Mackay sees bright prospects in India amid stalled UK-India FTA negotiations

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Whyte & Mackay
(Representative Image)

Mike Southgate, the director of developing markets (India, Australia, New Zealand, Africa, Middle East & CIS countries) at the UK-based premium whisky maker Whyte & Mackay, expressed that the free trade agreement (FTA) between the UK and India would streamline cross trade “in both directions.”

“FTA is a very live topic right now; where that is going to land, I don’t know. I would hope that the agreement is reached and hope that it makes cross trade easier both ways,” Southgate said on an India market visit.

For the past year and a half, discussions surrounding the FTA between the UK and India have remained inconclusive due to diverging interests. The UK seeks reduced tariffs on its Scotch whisky to facilitate trade, but this proposition raises concerns among Indian whisky makers who fear it could negatively impact their business. Mike Southgate highlighted that Whyte & Mackay, renowned for selling Dalmore and Jura whisky in India, has been experiencing significant benefits in the Indian market.

According to him, India holds a position of utmost importance as a priority market for Whyte & Mackay, second only to Australia in terms of its rapid growth rate among the developing markets the company is targeting.

“The growth potential is enormous and the outlook for the future is significant in India, driven by a younger population, a lot more premiumisation of retail spaces, a more balanced shopper profile and people looking to trade-up,” he said.

He mentioned that although inflation continues to pose a challenge, certain changes in taxes within some states have had a positive impact on the market, making premium luxury brands more accessible and affordable to consumers.

According to a report by IWSR Drinks Market Analysis, India is projected to emerge as a significant volume growth market for the entire alcohol beverages industry from 2022 to 2027, primarily driven by brown spirits. The report highlights that Indian consumers are consistently upgrading their preferences within whisky, brandy, rum, vodka, and gin categories, encouraged by the rise in disposable incomes among the middle-class, the easing of pandemic-related restrictions, and the enhanced quality, diversity, and accessibility of products in the retail sector.

Southgate said single malt whisky, which is Whyte & Mackay’s core focus category, “is one of the driving forces” within spirits. “We will be introducing additional variants of single malts in India this year,” he said. On the company’s relatively smaller portfolio so far in India, he said “We’re new in the market; it takes time to seed and grow.”

He added, “Each state is like dealing with a new country; it is very complex. Yet, the growth outlook for the next five years for India is very positive.”

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Consumer staple companies predict stable prices for kitchen essentials; non-basmati rice sees 8% decline following export ban

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shopping
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Adani Wilmar, GRM Overseas, and Tirupati Agritrade, prominent consumer staple companies, have projected stable prices for kitchen essentials such as non-basmati rice, wheat, and pulses in the upcoming two months. Notably, the prices of non-basmati rice have experienced an 8% decline following the recent government decision to impose an export ban last Thursday. This measure was taken as part of an effort to control inflation.

Read More: India prohibits non-basmati white rice exports amidst supply concerns

Angshu Mallick, MD of Adani Wilmar, said “Prices of non-basmati rice may fall by another 3% in coming weeks. Tur dal (pigeon pea) prices, which have gone up by 2-3%, will not see a further upswing as the government has decided to import it to keep prices under check. For the next two months, we do not see much rise in prices of these kitchen essentials.”

Due to a significant increase in tur dal prices resulting from reduced production, the country is anticipating an import of 12 lakh tonnes of the pulse in FY24. This represents a notable 35% surge compared to the previous year’s imports. The objective behind this move is to enhance availability and curb the upward trend in prices.

Read More: Tur dal scarcity escalates market crisis, consumers face relentless price surge

“The ban on non-basmati rice in the international market has triggered panic, leading to a surge in demand for basmati rice worldwide out of fear that it might face a ban as well. Consequently, in the domestic market, consumers are now turning their attention to non-basmati rice due to its reduced price. As a result, there is expected to be an abundance of wheat with stable prices,” said Atul Garg, MD of GMR Overseas.

Currently, atta is being sold at the wholesale level for a price range of INR 25-26.

The Managing Director of Adani Wilmar stated that there would be a transition in consumer preference from wheat to rice in the states of Bihar, Jharkhand, West Bengal, and Odisha.

Ajay Jhunjhunwala, the President of the Solvent Extractors Association, which serves as the apex body of the edible oil industry, has called upon all members to align with the declining international market situation by lowering the Maximum Retail Price (MRP) and the Price to Distributor of edible oils.

Read More: Edible oil trade body SEA calls for reduced MRP to match global market slump

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Chai Sutta Cafe strengthens presence in Middle East with Dubai’s Preatoni Tower outlet

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Chai Sutta Cafe
Chai Sutta Cafe (Representative Image)

Chai Sutta Cafe (CSC), the world’s largest tea chain established by Anubhav Dubey and Anand Nayak in 2016 has recently revealed its latest venture in Dubai, located near the iconic Preatoni Tower in JLT, United Arab Emirates.

This strategic move marks a momentous milestone for the brand, fortifying its presence in the Middle East. By doing so, the brand aims to cater to the discerning tastes of tea enthusiasts in the region, offering them an extensive array of distinctive tea flavors and an invigorating tea experience like never before.

Having flourished with two prosperous outlets in Dubai, this tea franchise, founded locally, has made a lasting impact on the vibrant Dubai market. Its success is evident and has left a remarkable impression on both locals and visitors alike.

Chai Sutta Cafe’s newest addition in Dubai strategically finds its place at Preatoni Tower, Cluster L, JLT, Dubai. This prime location has been carefully chosen to provide effortless access for both residents and visitors, creating a convenient and inviting destination where everyone can savor the delightful flavors of Chai Sutta Cafe’s teas.

Anubhav Dubey, Co-Founder, and CEO of Chai Sutta Cafe, said, “We are excited to open our new outlet in Dubai, further expanding our footprint in the Middle East. Chai Sutta Cafe has been warmly welcomed by tea lovers in Dubai, and we are committed to delivering exceptional tea experiences to our customers.”

Chai Sutta Cafe’s foray into the Dubai market exemplifies their dedication to meeting the growing demand for their products in the Middle East.

By introducing its renowned kulhad tea and a diverse range of flavorful chai, the cafe aims to create a warm and inviting atmosphere that encourages customers to gather, relax, and savor their favorite tea choices.

Chai Sutta Cafe has sparked a revolution in the tea industry with its innovative approach of serving tea in traditional kulhad, clay cups.

This approach not only enhances the tea-drinking experience but also plays a crucial role in empowering over 500 potter families by providing them with sustainable employment opportunities. With an impressive daily usage of 4.5 lakhs kulhads across their franchise outlets nationwide, Chai Sutta Cafe has made a significant impact on the local economy.

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The Westin Mumbai Garden City celebrates the International Year of the Millet with an innovative millet-centric culinary experience!

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millet-based delicacies
Millet-based delicacies

The Westin Mumbai Garden City takes great pride in introducing its groundbreaking initiative as the city’s first hotel to wholeheartedly adopt and incorporate millets into every aspect of its culinary offerings. Embracing the spirit of the International Year of the Millet in 2023, The Westin Mumbai Garden City pays a delightful homage to these ancient grains by skillfully infusing them into a diverse array of mouthwatering dishes available at all of the hotel’s dining outlets.

Millets, commonly known as “nutria-cereals,” hold a cherished position in India’s culinary legacy, and The Westin Mumbai Garden City takes immense pride in spearheading the movement to make these nutritional gems more popular. Embracing a firm dedication to encourage healthier eating choices and bolstering local farmers, the hotel has unveiled a diverse array of millet-based delicacies. Through this initiative, The Westin aims to offer its esteemed guests a comprehensive and nourishing dining experience.

The culinary team at the hotel has devoted careful attention to create a distinctive menu centered around millets. This exquisite selection of dishes showcases the diverse range of millet varieties, each bringing its own set of health benefits. With this thoughtful initiative, the hotel aims to promote wellness and enhance the overall guest experience, providing a delightful fusion of flavor and nourishment.

The millet varieties featured in the menu are as follows:

Jowar (Sorghum): Traditionally known as Jowar in India, this grain has been used to make flavorful flatbreads and rotis. Rich in iron, protein, and fiber, Jowar also contains policosanols, contributing to cholesterol reduction. It is an ideal option for individuals with wheat intolerance.

Ragi (Finger Millet): Ragi takes center stage as a healthy substitute for rice and wheat. Packed with protein and amino acids, this gluten-free millet is especially beneficial for brain development in growing children.

Foxtail Millet: Popularly available in the form of semolina and rice flour, Foxtail Millet boasts healthy blood sugar-balancing carbohydrates, while iron and calcium fortify the immune system.

Bajra (Pearl Millet): This millet stands out with its umpteen health benefits, including iron, protein, fiber, calcium, and magnesium. Regular consumption of Bajra can have a transformative effect on overall well-being.

Barnyard Millet: With its high fiber content, Barnyard Millet is a valuable asset for weight loss enthusiasts. Additionally, it is rich in calcium and phosphorous, making it instrumental in promoting bone health.

Proso Millet: Proso Millet excels at balancing blood sugar levels, making it a favorite among weight watchers. Its low glycemic index has also made it a commonly used bird feed in India.

Little Millet: Offering a plethora of essential nutrients, including B vitamins, calcium, iron, zinc, and potassium, Little Millet finds its place in traditional South Indian dishes. Its high fiber content also positions it as a healthy replacement for rice.

Guests at The Westin Mumbai Garden City can relish an array of mouth-watering millet-based delicacies at the award-winning Prego such as Ossobuco with Pearl Millet, Finger Millet Ravioli, Millet Risotto, Sorghum Crepes, Millet Coconut Pudding with Raspberry Sauce, Buckwheat Pudding. At Seasonal Tastes relish traditional favorites such as Ragi Kangi, Millet Bisibelebhat, Asian Millet Conjee with chicken & shitake mushroom, Millet Kakdi chi koshimbir, Pearl Millet Khichadi, Methi Jowar Thalipeeth, Thecha, and much more.

At the signature all-day dinner of Seasonal Tastes, guests can savor the wholesome goodness of millets at the dedicated Millet Station during lunch and dinner. The hotel’s Buffet Breakfast also features enticing Millet Meals, offering a balanced and nourishing start to the day.

Moreover, all banquet events at The Westin Mumbai Garden City will now feature a Chefs Interactive Counter, where guests can enjoy the Live Make Your Millets in a Bowl station, adding an element of fun and customization to their dining experience.

Sumeet Suri, General Manager of The Westin Mumbai Garden City, said, “We are thrilled to introduce millets into our culinary offerings as a tribute to the International Year of the Millet. By incorporating these ancient grains into our menus, we aim to not only elevate the dining experience but also promote a healthier and more sustainable approach to food.”

From breathing life into old forgotten recipes to perfecting classic favorites and crafting signature culinary experiences, The Westin Garden City Mumbai has been offering distinctive dining experiences that explore the nuances of the finest Indian and international cuisines. With the special culinary tribute to Millets, patrons can now indulge in the wholesome goodness of millets and embark on a delectable journey of flavors and nutrition in the heart of the city.

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ITC board approves hotel business demerger, expects ROCE to improve significantly

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itc
ITC (Representative Image)

On Monday, the board of ITC granted preliminary approval for the demerger of its hotel business, establishing a new independent entity. Remarkably, this move comes almost twenty years after the conglomerate integrated the hotel business into its portfolio. The new entity resulting from the demerger will be listed as a separate entity.

Insiders familiar with the matter reveal that the hotel business of the diversified company has consistently commanded a significant portion of capital allocation over the years. However, with the proposed demerger, it is anticipated that ITC’s Return on Capital Employed (ROCE) could witness a substantial improvement, potentially increasing by an impressive 2,000 basis points.

According to the company’s announcement, the board has granted approval for the establishment of a wholly owned subsidiary, which is to be named ITC Hotels or any other name that may receive approval from the Ministry of Corporate Affairs.

As per the new arrangement, ITC is set to retain approximately 40 percent stake in the hotel company, while the remaining 60 percent will be directly held by the company’s shareholders in proportion to their existing shareholding in ITC.

The company announced that specifics of the proposed reorganization, which encompass the scheme of arrangement, will be presented for the board’s approval during its meeting scheduled for August 14.

The proposed demerger aligns with the vision of ITC’s Chairman and Managing Director, Sanjiv Puri, who emphasizes enhancing competitiveness, expanding margins, and driving profitability.

On Monday, ITC shares experienced a decline of 3.87 percent, closing at INR 470.90 per share on the BSE. The stock surrendered a substantial portion of the gains it had made earlier in the day, possibly due to concerns surrounding the scheme of arrangement. According to a report by Jefferies, some investors might have favored a vertical split (100 percent direct) instead of the proposed demerger.

The company released a statement explaining that the demerger aims to enable the new entity to attract investors and strategic partners/collaborations whose investment strategies and risk profiles are closely aligned with the hospitality industry. This move is expected to strengthen the company’s position in the market.

Commenting on the proposed reorganistion, Puri said: “The proposed demerger of the hotels business is a testament to the company’s commitment to creating sustained value for stakeholders.”

“Creation of a hospitality-focused entity will engender the next horizon of growth and value creation by harnessing the exciting opportunities in the Indian hospitality industry. In the proposed reorganisation, both ITC and new entity will continue to benefit from institutional synergies,” he added.

ITC’s 40 per cent holding in the hotel company serves the purpose of securing its ongoing interest in the hospitality business while also providing long-term stability and strategic support. This significant ownership stake reinforces ITC’s commitment to the hospitality industry and ensures a strong partnership for the future.

Under the suggested plan, the hotel company would undergo a transfer of assets, liabilities, contracts, and employees associated with the hotel business. This transfer would enable the hotel company to obtain a license to incorporate the renowned ‘ITC’ name into its corporate identity, along with using the ‘ITC’ name for certain properties under its management.

ITC’s journey in the hospitality business has completed a full circle. Prior to 2004, the ownership of the hotel business was divided among ITC, ITC Hotels, and its subsidiaries. However, on April 1, 2004, ITC Hotels, which was an independent listed entity, along with Ansal Hotels, was merged back into ITC, bringing the entire hotel business back under one unified entity.

Under ITC’s management, the operations witnessed significant growth, and in recent years, this expansion has accelerated even further due to the implementation of the ‘asset-right’ strategy. Presently, ITC boasts a portfolio of over 120 hotels with 11,600 keys in total. Notably, approximately 50 percent of these keys are operating under management contracts.

During a board meeting conducted on Monday, the company disclosed that it assessed and deliberated on several alternative structures for its hotels business. The objective was to shape the next phase of growth while also maximizing value creation for all stakeholders involved.

The board acknowledged that the company’s hotel business had matured significantly over the years and was now in an excellent position to forge its own growth trajectory as an independent entity within the rapidly expanding hospitality industry. By operating as a separate entity, the hotel business could sharpen its focus on its core operations and adopt an optimal capital structure. Despite this separation, the hotel business would continue to benefit from leveraging ITC’s institutional strengths, brand equity, and positive reputation.

In FY23, the hospitality business delivered an exceptional performance, benefiting from the resurgence of both leisure and business travel following the Covid pandemic. During this period, revenue from the segment reached an impressive INR 2,689 crore, while the profit before interest and taxes (PBIT) soared to INR 557 crore, marking the highest-ever figures recorded. It’s worth noting that hotels contribute approximately 3.2 per cent to ITC’s overall revenue from operations.

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Oriflame India expands Wellosophy range with women’s health supplements to support active lifestyles

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Wellosophy Iron Complex
Wellosophy Iron Complex

Oriflame India, the holistic beauty and wellbeing company, takes pride in introducing two new health supplements under its renowned Wellosophy range. Specifically crafted for women, these supplements, namely the Iron Complex and the Calcium fortified with Vitamin D and Magnesium, have been formulated to provide an extra boost of support for busy routines and to help maintain an active and healthy lifestyle. As part of their commitment to customer safety and efficacy, Oriflame ensures that these products are free from GMOs and gluten, with absolutely no artificial colors or preservatives. With these innovative additions, Oriflame India continues to prioritize the health and well-being of its valued customers.

Developed after extensive research and development by Oriflame’s Nutrition Council in Sweden, the Wellosophy supplements follow the highest European quality standards. The vegan Iron Complex targets excessive iron deficiency, which is often prevalent among women after the age of 40 and post-menopause. The supplement includes essential vitamins like C, B6, B12, and Folic Acid to promote normal energy-yielding metabolism, boost the immune system, and support red blood cell formation.

On the other hand, the vegetarian Calcium supplement, fortified with Vitamin D and Magnesium, facilitates maximum bone density. Addressing the deficiency of calcium intake in the Indian population, Oriflame offers the perfect combination of essential nutrients for optimal absorption.

Frederic Widell, VP and Head of South Asia and MD India, Oriflame, said, “With the Indian market for wellness supplements poised for remarkable growth (expected to reach Rs 958.1 billion by 2028), our Wellosophy supplements represent the culmination of extensive research and development (R&D) efforts. With an experience of over 25+ years in India, we have gained invaluable insights into the Indian market. Our carefully curated range of supplements addresses the specific needs of our Indian patrons, delivering essential vitamins, minerals, and nutrients for improved sleep, elevated energy levels, and enhanced immunity. With the affirmation of our 4 lakh Brand Partners in India, we take pride in offering reliable and gratifying solutions that foster holistic beauty and wellbeing.”

Apart from the newly launched Calcium and Iron supplements, Oriflame’s Wellosophy range encompasses a variety of essential products, including Nutrishakes, Omega 3 supplements, Multivitamins, and Astaxanthin antioxidant nutraceuticals, providing comprehensive options for holistic beauty and wellbeing.

As a brand that values both external beauty and overall wellness, Oriflame aims to promote a healthy lifestyle, beautiful skin, self-expression, and enjoyment. With their reliable and gratifying solutions, the company is dedicated to fostering holistic beauty and wellbeing in India.

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Jaypore unveils artisanal dinnerware collection ‘Mausiqi’

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Jaypore's Mausiqi dinnerware collection
Jaypore's Mausiqi dinnerware collection

Jaypore, a leading artisanal lifestyle brand under the esteemed Aditya Birla Fashion and Retail Ltd (ABFRL), proudly unveils its latest masterpiece – the handcrafted dinnerware collection named ‘Mausiqi.’ Drawing inspiration from the architectural marvels of Mumbai, particularly the illustrious ‘Royal Opera House,’ this extraordinary range beautifully captures the essence of the global Art Deco movement that defined the roaring twenties. Emphasizing sophisticated design, Jaypore’s Mausiqi dinnerware collection continues to enchant art connoisseurs, showcasing the brand’s unwavering commitment to timeless craftsmanship.

Mausiqi embodies a jubilant display of extravagance and splendor reminiscent of bygone eras, epitomized by majestic architectural marvels like Mumbai’s Royal Opera House. Each creation stands as a testament to unrivaled artistry, with artisans painstakingly hand-tracing every motif to preserve its authenticity and intricate charm. These distinctive designs are then carefully transferred onto porcelain masterpieces through a meticulous decal technique, enriched further by the skillful application of 24-karat gold leaf by dedicated craftsmen.

The motif story of Mausiqi blends Art Deco geometrics with fluid nuances reminiscent of petals, dots, and curves. The borders on plates, bowls, mugs, and more exhibit classic Art Deco geometrics inspired by ornate window railings, architectural facades, and Terrazzo tiles, while the central motifs depict the same with fluidity.

The Mausiqi Collection offers a diverse range of culinary essentials, including dinner plates, serving bowls, pasta bowls, platters, mugs, and more. Each meticulously crafted piece pays homage to the seamless fusion of Indian design sensibilities with the global Art Deco movement. Prices for the Mausiqi Collection range from INR 790 to INR 3,390, making these treasures accessible to those who curate their dining experience with glitz, glamour, and gold. The Mausiqi Collection is available for purchase at Jaypore’s premium stores across India and on their website, inviting connoisseurs to step into a mesmerizing world of timeless beauty and unparalleled craftsmanship.

Rashmi Shukla, Business Head, Jaypore said, “We are thrilled to unveil the ‘Mausiqi’ Collection, a symphony of elegance and artistry inspired by the art deco movement. This extraordinary collection makes for a memorable gift perfect for the upcoming festive season as well as can be a treasured addition to one’s bridal trousseau. Mausiqi lets connoisseurs curate their dining experience with a touch of opulence and grace. We invite you to embrace the grandeur of this collection, where Indian heritage meets global design nuances, to elevate your everyday dining experiences.”

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Edible oil trade body SEA calls for reduced MRP to match global market slump

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Edible oil
Edible oil (Representative Image)

The Solvent Extractors Association of India (SEA), the leading trade organization representing the edible oil industry, has called upon all its members to align with the declining international market conditions by lowering the Maximum Retail Price (MRP) and Price to Distributor (PTD) of edible oils.

Furthermore, the SEA has made an additional appeal to distributors, urging them to closely monitor retailers within their distribution network. The objective is to ensure that not only the Maximum Retail Price (MRP) is reduced but also that the Margin of Profit (MOP) is adjusted in line with the latest price reduction. Additionally, the SEA emphasizes the importance of aligning the selling price of any old stock circulating in the market with the most recent price reduction.

SEA expressed the government’s deep concern regarding the domestic price of edible oil, anticipating a decline in prices to align with the decreasing trends in the international market. This concern was raised during virtual meetings with officials from the Department of Food & Public Distribution.

“We discussed the decrease in edible oil prices in the country compared to the falling international prices. We have conveyed that major brands have already reduced the prices of edible oils over the last few months in alignment with the falling global market,” said Mr Ajay Jhunjhunwala, president, of SEA.

He added “We are pleased to report that India’s monsoon is performing relatively well, with most oilseed production areas receiving sufficient rain for sowing. As of 12th July 2023, North-West India and Central India have received excess rain, although East & North East India are still facing a deficit. Overall, the country received 2% above normal rainfall.”

After a sluggish beginning caused by the delayed monsoon onset, the sowing process has now gained momentum. As of 14th July 2023, the acreage dedicated to oilseeds was reported at 139.3 lakh hectares, marking a rise from 137.0 lakh hectares during the corresponding period last year. However, there has been a reduction of 1.86 lakh hectares in soybean acreage, whereas groundnut acreage has expanded by 2.13 lakh hectares, attributed to the favorable cyclone rains, according to SEA’s statement.

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Mid-priced packs gain popularity as consumers seek greater value in confectionery, personal care, and home care products

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shopping mart
(Representative Image)

The current trend among consumers is shifting towards mid-sized and multi-use packaging for products, rather than solely prioritizing low-priced items.

According to data from Bizom, a retail intelligence platform, there was a notable increase in the adoption of multi-use, mid-sized packaging across categories like confectionery, personal care, and home care products during the June quarter of 2023.

During the quarter, there was a 2.5 percent growth in mid-priced packs within the confectionery category. Simultaneously, the high-value packs in the same category experienced a corresponding decline in growth.

Consumer preference for mid-priced packs in personal care goods increased by three percent, while low-priced packs experienced a decline of 3.4 percent. In the home care segment, mid-priced packs saw a significant rise of 7.1 percent, as consumers shifted from low-priced packs, leading to a decrease of 6.8 percent in that category and driving overall growth.

Akshay D’Souza, Bizom’s Chief Of Growth and Insights, said, “Consumers seem to be looking for greater value among confectionery, personal care as well as home care products. Here we see a strong movement into multiuse, mid-sized packs that offer the flexibility of limited spending and greater value than smaller-sized ones.”

In contrast to the prevailing trend, the confectionery and personal care sectors experienced a decline of 7.6 percent and 11.5 percent, respectively, during the June quarter of 2023 when compared to the corresponding period in the previous year.

Home care products have exhibited substantial growth, with a double-digit increase of 14.7 percent.

“In this season, though inflation is lower, it has still impacted the consumption of discretionary products including confectionery where there have been no real drop in prices. As a result, we do see spending shifting from high to mid-value packs as consumer wallet share for this category gets rationalized,” said D’Souza of Bizom.

Nevertheless, Mondelez, a prominent chocolate manufacturer in the country, has chosen to buck this trend.

According to Desmond D’souza, Senior Director of Sales at Mondelez India, the company has observed no notable changes in the growth patterns across price points for the categories it operates in.

“The trend is very similar to last year and we continue to experience a shift from a price-led growth to a consumption-led growth strategy and there are more schemes being offered for higher size packs. This is helping incentives customers to move to these multi-use packs,” said Bizom’s D’Souza.

In home care, there’s a shift towards consumption-led growth in detergents, although slower, as compared to toilet and floor cleaners.

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