India emerges as strong performing market for global consumer giants

New Delhi, Oct 26 (IANS) India is increasingly becoming a key growth market for global consumer goods companies, driven by the rapid rise of e-commerce and quick-commerce platforms.

The country’s expanding digital retail ecosystem is enabling faster market penetration and boosting online sales, making India one of the standout performers for international consumer brands.

Global consumer goods majors Unilever and L’Oreal reported a sharp rise in online sales during the September quarter, driven by the rapid expansion of quick-commerce and digital retail channels.

French beauty giant L’Oreal’s CEO Nicolas Hieronimus said India has become a “game changer” for the company, thanks to the rise of quick-commerce and traditional e-commerce platforms that allow deeper market penetration.

“Ten days ago, I was in India, where it’s clearly a game changer for us. Quick commerce and traditional platforms now allow us to reach consumers across the country, something we couldn’t do before,” Hieronimus said during the company’s earnings call.

British consumer goods major Unilever also highlighted India’s strong contribution to its digital growth.

CEO Fernando Fernandez said digital commerce now accounts for 17 per cent of Unilever’s total revenue.

“We are growing Amazon at 15 per cent, Walmart.com at 25 per cent, Flipkart in India at 30 per cent, and TikTok globally at 70 per cent,” he said.

Unilever, which operates in India through its subsidiary Hindustan Unilever Limited (HUL), said its product portfolio is now better positioned for growth following strategic moves such as selling lower-value brands and acquiring premium ones.

The company said its “digitally native brands” are seeing great success, particularly in markets like India and China.

Fernandez added that Unilever’s quick-commerce business in India has more than doubled this year.

“We believe our portfolios are well-suited, and our capabilities are significant in that space,” he said, expressing optimism about the company’s future digital growth in India.

--IANS

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