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July 9, 2026
Neethi Lisa Rojan & Vaeshnavi Kasthuril, MINT
Mumbai/Bengaluru, 8 July 2026
The collapse of the US-Iran peace deal in less than a month has rattled India’s consumer sector, reviving fears that higher oil prices and fresh supply-chain disruptions could squeeze demand just as companies were betting on a broader recovery.
The renewed uncertainty followed US President Donald Trump’s declaration on Wednesday that the peace deal with Iran was effectively over, alongside Washington’s decision to end a sanctions waiver on Iranian energy supplies. The market reaction was swift. The Nifty FMCG Index fell 2.49% on Wednesday, underperforming the broader market as all 15 constituents declined, led by Dabur India, Hindustan Unilever, and Tata Consumer Products, whose shares fell 3-4% each. The benchmark Nifty50 ended 2.12% lower after renewed hostilities in West Asia pushed crude prices higher.
Executives and analysts said companies have little room to respond immediately, leaving them to closely monitor devel opments as risks to costs and consumer spending mount. “I don’t think companies can react on this kind of a short notice,” said Arvind Singhal, chairman of consulting firm The Knowledge Company. “It takes 2-6 months to make any change in your plans and strategy. I think right now the Indian FMCG (fast moving consumer goods) companies will be watching the progress of monsoon more carefully than the Strait of Hormuz.”
Even after the US-Iran peace deal took effect on 18 June, consumer companies were unlikely to have expected immediate relief, analysts said.
“While everyone hoped for a cessation in hostilities, smart management teams would work on the realistic expectation that even with a ceasefire, pent-up supply chain input costs need to be absorbed over time, and pricing plans must be factored accordingly,” Devangshu Dutta, founder and chief executive of consulting firm Third Eyesight, said.
“Given that the conflict zone is active, I don’t think there is any immediate likelihood of pricing freeze or reductions, even though demand in rural areas as well as in lower-income urban segments is likely to be hit from both sides ― earnings and expenses.”
Large consumer goods companies including Dabur, Emami and Godrej Consumer had recently told investors they remained confident about consumer demand, including in rural markets.
But the renewed rise in crude prices, coupled with erratic monsoons marked by rainfall deficit in some regions and flooding in others, threatens to complicate that outlook. Higher fuel costs could lift prices of crude-linked raw materials such as plastic packaging and ingredients used in soaps and creams, while persistent inflation could push consumers to cut discretionary apne ding and trade down even on staples.
Major consumer companies had already raised prices or reduced grammage across packaged food, beverages and personal care products in the March quarter.
“As far as the crude prices are concerned, that is probably the only variable where the government has to decide as far as pricing of crude or the petroleum in India is concerned,” Singhal said.
That comes at an awkward time for India’s largest consumer companies, including Hindustan Unilever, which had earlier this year told analysts they intended to drive growth through higher volumes rather than price increases. A renewed bout of inflation could undermine that strategy.
(Published in MINT)
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May 27, 2026
Kartikey Kashyap, Financial Express
27 May 2026
Three campaigns took home the Grand Prix awards from Goafest this year: Kansai Nerolac Paints”The Barefoot Journey” by Tribes Commu-nication in the Media category; Mountain Dew’s “Darescore” by Leo in Digital & Technology; and Center fruit (Perfetti Van Melle India)” Kaisi Jeebh Laplapayee”” by Perfetti’s in-house team in the Best Use of Voice/Technology category.
All three were exceptionally creative and scored high on likeability and novelty. There was another common element that tied the three together: How they used creativity to solve real brand problems.
Take PepsiCo’s Mountain Dew Darescore campaign. Nepal’s tourism economy relies heavily on mountaineering, but over 90% of global tourist revenue flows into Mount Everest. As a result, there is overcrowding on Everest, starving the country’s other formidable peaks of income and attention.
Enter Mountain Dew. In partner-ships with the Nepal Tourism Board and the Discovery Channel, the brand built the world’s first algorithmic mountain grading system. Leo aggregated decades of expedition records, terrain complexity maps, seasonal weather hazards, rescue failure rates, and first-hand Sherpa wisdom. They funneled these metrics into an engine and assigned a quantifiable “Dare Score” to individual peaks. This data visually demonstrated that height does not equal danger, giving climbers an scale to gauge terrain toughness.
The genius of the campaign was its consumer utility. Mountain Dew printed smart QR codes on millions of its beverage bottles. When a user scanned the bottle, it unlocked an immersive digital hub, where users could simulate climbs, map out route plans, read real-time weather conditions, and submit expedition inquiries. The campaign took Mountain Dew’s slogan, “Darr Ke Aage Jeet Hai” and algorithmically decoded it for real-world application.
The result: It Swept Goafest 2026 and collected medals across vastly different categories including Integrated, Brand Experience, Social Content, and Video Craft, besides the Grand Prix. “Darescore is a powerful example of how brands are moving from storytelling to measurable participation. For decades, adventure culture celebrated only the final summit. This campaign changed the lens, it quantified courage itself,” says Prabhakar Mundkur, director, advertising & media, Percept. “What made this Grand Prix-worthy was the fusion of technology, gaming logic, data and brand philosophy into one seamless experience.”
If the Darescore campaign embedded data into storytelling, Nerolac chose to stay away from the beaten path. Its “Barefoot Journey” was a hyper-local activation designed by Tribes Communication for Nerolac Perma NoHeat, an acrylic-based, heat-reflective exterior coating. The campaign focused entirely on real-world product performance.
Every summer devotees visit various religious sites and walk barefoot along sweltering walkways or wait in queues on hot concrete floors.
Along with local authorities, the teams coated thewalkways of several high-footfall temples across south-ern India with Nerolac Perma NoHeat paint. The paint reduced the surface temperature of the pathways by up to 15°C offering relief to devotees.
This campaign won the jury over with its simplicity. According to Devangshu Dutta, founder & CEO, Third Eyesight, “Though the campaign might target a small audience, it made an impact by shifting the frame,” Dutta points out. “The campaign turned advertising into lived experience,” Mundkur says. “People didn’t just hear a claim, they felt it. This is media not as interruption, but as empathy.”
For its part, Centre fruit brought back its hoary “Kaisi Jeebh Lapla-payee” tagline using generative AI. Teaming up with WPP, BharatGPT.ai and Google Cloud, Perfetti created voice-based GenAl interactions in local dialects that turned feature phones smart. “What made the experience special was that it felt less like advertising and more like a conversation,” says Gunjan Khetan, director marketing, Perfetti Van Melle. Al was an enabler of accessibility and a tool to build cultural relevance, Khetan adds. “The brilliance lay in how it con-verted a simple sensory reaction -the uncontrollable craving triggered by taste – into a scalable interactive idea. It was playful, memorable and unmistakably Indian. More importantly, it proved that consistency in -brand codes, when combined with fresh execution, can become a formidable creative asset,” Mundkur says.
There you have it. Winning creative awards is validating, but solving the client’s problems through that creativity remains the bellringer.
(Published in Financial Express)
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May 27, 2026
Writankar Mukherjee and Aanya Thakur, Economic Times
Kolkata/Mumbai, 27 May 2026
Quick commerce has become the dominant online sales channel for India’s top fast-moving consumer goods (FMCG) companies, with Dabur India and Britannia Industries among others now deriving up to 75% of their digital sales from 10-minute delivery platforms.
Industry executives said quick commerce is reshaping consumer buying habits and increasingly cannibalising sales from all other channels, including ecommerce platforms, modern trade and kirana stores, even as large online marketplaces and retailers expand into the segment.
Latest data from companies including ITC Ltd, AWL Agri Business, Tata Consumer Products and Parle Products showed quick commerce accounted for 60-75% of their total online sales in FY26, rising sharply from less than half a year earlier.
For Britannia and Tata Consumer Products, quick commerce now contributes more than 70% of online sales, while the share climbed to 75% for Dabur in the fourth quarter ended March from 50% in the December quarter.
Executives said expanding assortments and demand for instant replenishment are accelerating the shift. “Quick commerce has been gaining ground with several ecommerce companies such as BigBasket, Amazon and Flipkart, as well as retail chains like Reliance Retail, entering the space,” said Mayank Shah, vice-president at leading biscuits maker Parle Products. “Given consumers’ demand for convenience and immediate replenishment, quick commerce has emerged as a strong growth opportunity for them.”
Quick commerce accounted for 65% of online sales of Parle Products and AWL Agri Business last fiscal, compared with 50% and 45%, respectively, in FY25. ITC derived 58% of its online sales from this channel in FY26.
Frequent Purchases
Grocery-shopping are now centred around frequent top-up purchases through the week.
“Quick commerce has facilitated a grocery shopping habit which already existed – more frequent purchases. These companies are now also looking to improve profitability by expanding into higher-margin and impulse-driven categories,” said Devangshu Dutta, founder and CEO of Third Eyesight, a consultancy in consumer space.
While the channel is already significant for FMCG companies in the top 8-10 cities, it is expanding rapidly into smaller towns as operators such as Blinkit, Zepto and Swiggy Instamart widen their footprint.
Premium Push
The channel has also allowed companies to push premium products, executives said.
“While on marketplaces and traditional e-commerce platforms we were heavily skewed towards staples, the shift to q-commerce is helping us premiumise our assortment and sell far more indulgent categories,” Britannia Industries chief commercial officer Vipin Kataria told analysts earlier this month.
The transition has led to a threefold increase in sales of adjacency categories for the biscuits and dairy products maker, he said.
Kataria expects quick commerce’s contribution to the company’s total online sales to rise to 85% from 70% currently.
Most FMCG companies reported 70-100% year-on-year growth in quick commerce sales in FY26, making it the fastest-growing channel for the industry for the past two to three years. Executives expect the trend to continue.
Dabur India global chief executive officer Mohit Malhotra said beverages, foods, personal care and home care are currently the strongest-performing categories in this channel.
Saugata Gupta, managing director of Marico, said quick commerce is likely to be especially dominant in foods, while specialised ecommerce players such as Myntra and Nykaa remain strong in personal care.
The maker of Parachute, Saffola and Livon brands is strengthening its quick commerce supply chain through digitisation, automation and AI-based forecasting, Gupta said.
(Published in Economic Times)
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May 15, 2026
The ET Now Swadesh panel discussion focussed on the dual challenge facing the Indian economy: a weakening rupee and rising crude oil prices, which together are driving “imported inflation” and straining household budgets. Devangshu Dutta (Founder, Third Eyesight) put forth the following key points during the discussion (the video link is under the text summary below):
1. Dual Impact on Industry and Consumers:
2. Vulnerability of Small Businesses (SMEs):
3. Income vs. Expenditure Strain:
4. Ripple Effect of Crude Oil Beyond Logistics:
5. Shifts in Consumer Spending Patterns & “Shrinkflation”:
The panel noted that while the Reserve Bank of India (RBI) has adequate foreign exchange reserves to defend the rupee temporarily, the definitive solution relies heavily on the cooling down of global geopolitical tensions (such as the Middle East conflict affecting the Strait of Hormuz). Until then, Indian consumers will need careful financial planning and smart spending adjustments to navigate this inflationary phase. [Video below.]
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May 9, 2026
Writankar Mukherjee, Economic Times
Kolkata, 9 May 2026
India’s top retail chains including Reliance Retail, DMart, Trent, Titan Company, Jubilant FoodWorks, and V-Mart Retail opened the highest number of stores in three years in FY26, seeking to capitalise on a demand recovery and a clean-up of unviable outlets added during the post-Covid revenge-spending period.
Entry into smaller towns and cities where many consumers continue to prefer shopping at physical stores over online is also influencing the expansion plans.
An ET study of the 10 largest listed retailers showed they added 25% more stores in the last fiscal year compared to FY25. Additions are on a net basis after accounting for loss-making outlet closures.
Collectively, the retailers added 2,182 stores in FY26, equivalent to six new stores a day on a net basis. In comparison, they added 1,745 stores in FY25 and 1,865 in FY24.
Retailers attributed the store expansion spree to improving consumer sentiment, helped further by cuts in income tax and goods and services tax (GST) rates last fiscal, along with low penetration of organised retail in smaller towns and cities. Together, the ten retailers had 31,394 stores operational as of March 2026.
Expansion Set to Continue
V-Mart Retail chief executive officer Lalit Agarwal said the ongoing shift from unorganised to organised retail is fuelling this expansion as several companies are meeting their sales growth expectations. “Many retailers have also raised capital, which they are deploying to grow topline,” he said, adding that the “growth phase will continue in the current fiscal as well.”
Companies surveyed by ET also include Shoppers Stop, Westlife Foodworld, V2 Retail and Kalyan Jewellers. Together, the ten retailers had 31,394 stores operational as of March 2026. Their combined store count grew 7% in FY26, ahead of a 6% expansion in the year before.
Reliance Retail alone added 820 net stores last fiscal, rebounding from a slowdown in FY25 when it shut several unviable outlets that were opened immediately post Covid, impacting overall industry growth rates. The country’s largest retailer had added 504 net stores in FY25, 796 in FY24, and 2,844 in FY23.
Similarly, Tata-owned Titan added 532 stores in FY23, but expansion moderated to 280-290 stores annually in FY25 and FY26.
India’s retail industry saw hyper expansion in late FY22 and FY23 as retailers sought to tap a boom in post-pandemic revenge shopping.
“Retail expansion now is more organic and measured as compared to the post Covid phase when there was a huge backlog of demand and over expansion,” said Devangshu Dutta, founder and CEO at Third Eyesight, a consultancy in consumer space.
(Published in Economic Times)
