The pandemic impacted each sector in unique and unimaginable ways and FMCG is no different. In a recent interaction, we discussed the impact of the pandemic on business and talent strategies with Pavitra Singh, CHRO, PepsiCo India. She also talks about the changing role of HR.
How has the current global health crisis impacted your business priorities and people strategies?
COVID-19 has impacted each country, each society, each industry in different ways. All businesses have been challenged. The over-all FMCG market growth will shrink, according to Nielsen, as on one hand, the lockdown has crippled demand and disrupted trade channels, while on the other, consumers are tending to save and spend more money on home items like dishwashers, floor mops, and other home appliances.
Spends will be more on selected discretionary items. The rural sector is less challenged and for many companies’ growth is being driven by rural markets. Like any other industry, we were challenged with the severity of the lockdown – the backend supply chain was disrupted with restrictions on starting operations, transporting raw materials, or finished products. Equally the frontend was impacted with closures of distributors and retailers. All this coupled with the concern on safety and social distancing protocols.
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