SURESH KIRANAWALA, WHO runs a grocery store in Mumbai’s Santacruz suburb, says business is booming. “Not just for me but also for my relatives in Rajasthan who run a grocery shop. Sales have been brisk they tell me,” he says, rushing to attend a group of shoppers. Indeed, a revival in India’s rural economy appears to be boosting the sales of staples.
The March 2023 quarter saw a revival in FMCG sales from traditional trade after four quarters of decline in the calendar year 2022, data from market research agency NielsenIQ showed. The trend may have spilled over to the June quarter as rural areas showed a consumption uptick. Over half of the nearly 12 million traditional trade or Kirana stores in India are located in rural areas.
NielsenIQ data points to a growth of 1.9% in FMCG sales from traditional trade in the March quarter. Conversations with companies, analysts and industry experts suggest that the June quarter could see growth rates in the region of around 4-5% for traditional trade as stocking improves at Kiranas.
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