HomeLifestyleInflation spoiled the budget of the house, people are buying even less...

Inflation spoiled the budget of the house, people are buying even less essential goods, see what the report says?

Highlights

There has been a 5% drop in monthly purchases of many essential items.
Sales of personal hygiene products such as toilet soap have come down.
Consumers are buying smaller packs of the brand to maintain the household budget.

New Delhi : Rising inflation in the country has spoiled the household budget of the common man. Alam is that in rural India, the purchase of everyday used goods is also being cut. There has been a 5% decline in the sales of many essential items including edible oil, laundry products, biscuits and chocolates in the markets. Apart from this, sales of personal hygiene products such as toilet soap have also come down.

This has come to the fore in a recent report by research firm Kantar & GroupM. The report said that the decline was recorded between December 2021 and July 2022. The report said that a large number of rural consumers are buying smaller packs of the brand to maintain the household budget.

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more impact on these people

The study included more than 4,000 consumers in villages, aged between 18 and 55 years. A large amount of 70% of the participants cited inflation and financials as the main reason behind it. Those who have admitted that their financial condition is deteriorating, in such a situation, people were more laborers, shopkeepers and small business shopkeepers. It has been said in the report that although people engaged in agriculture were less concerned about their financial condition, but such people did show their concern about the economic condition of the country.

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People forced to buy smaller packs

Earlier in a report by Nielsen IQ, it was revealed that the demand for fast-moving consumer goods (FMCG) products in rural areas was lower as compared to urban India in the June quarter. It had declined by 2.4%. In an interview in early September, Kantar said rural consumers are being forced to buy smaller packs to cut costs.

More impact in these states

FMCG firm Wipro Consumer Care, which makes Santoor soap, recently admitted that the demand for smaller packs was higher in rural areas as compared to urban markets. The company had said that even though inflation is stabilizing and demand has moderated in September, demand may decline due to below-average monsoon in Bihar, Uttar Pradesh and Bengal.

Tags: business news, Business news in hindi, inflation

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