Consumer sentiment is improving gradually though it is subdued compared to last year, says Cargill India, whose consumer-facing business comprises edible oil and atta. In an interview, Piyush Patnaik, managing director, Cargill’s oil business in India, spoke about the outlook for the festive season, increasing at-home food consumption and the forthcoming Indian Premier League (IPL). Edited excerpts:
Do you see any signs of change in consumer sentiment with the start of the festival season?
The festive spirit this year is muted compared to the past but we are seeing better sentiments than what we saw in previous months. There is some amount of fear in stepping out but we are seeing shifts which indicate traditional festive food consumption at home is moving up. Coming out of an extended lockdown, consumers are really looking forward to celebrating the upcoming festive season as best as they can. In the absence of traditional get-togethers and out-of-home plans, families are looking at in-home celebrations.
Is the sentiment muted because people’s incomes have been affected and businesses disrupted?
It’s too early to attribute reasons clearly, but we are hopeful that things will look better in the coming months. No doubt the external environment is beyond our control, but people still need to connect with family and friends, even if it is over digital platforms. Consumption is slowly reviving and festivals will definitely add to that recovery.
Will you advertise on the Indian Premier League? Can festivals and IPL can kick off the consumption cycle in India?
We are looking at IPL as an opportunity to connect to more consumers. We think it will bring cheer to the households amid the pandemic. With consumers being indoors more than usual, the viewership is likely to be high bringing consumer sentiment together around the game of cricket. But true demand revival will happen with more money in the hands of the consumers, which will take some time.
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September 03, 2020 at 09:04AM
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