Future Retail’s fast moving consumer goods arm Future Consumer Limited aims to reorientate all of its brands to ‘digital first’ to respond to the growing e-commerce trend.
The business predicts that the move towards shopping online for FMCG products such as beauty and personal care goods will continue long beyond the lockdowns that sped up the trend, according to its annual report for the 2021 financial year, ET Bureau reported. India’s second wave of Covid-19 in March 2021, at the end of the financial year, caused significant disruption to business which impacted the entire year’s figures, according to Future Consumer.
“During these times, while footfalls at offline retail slowed down, a new way of consumption was adopted by Indian masses with e-commerce becoming an integral part of frequent daily basket shopping,” wrote Future Consumer in its report, the Press Trust of India reported. “Habits formed in current times will tend to remain in the long term as well.”
The business believes it is essential to remain “agile” to be able to stay at the top of the ever-changing online market. In order to reorientate its brands to digital first, the business will roll out a series of, “short-term penetration, market share growth objectives, long-term brand and loyalty building goals,” according to the business’ chairman G N Bajpai who wrote to shareholders concerning the report.
Future Consumer’s brands include Mother Earth, Cleanmate, Vroom, and Caremate among others. The business aims to expand and enhance its existing portfolio of brands and increase its margins to drive growth in the current financial year.
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