New Delhi, Oct 7 (PTI) India is emerging as a destination for the “most evolved supply chain capabilities” which not only enables product availability but also caters to evolving shopper needs, Procter & Gamble India CEO Kumar Venkatasubramanian said on Monday.
Digital advancements are catalysts in shaping this supply chain of the future, by not only optimising costs but also ensuring seamless data flows, predictability, reduced carbon footprint, and best service.
With digital transformation, e-commerce and quick commerce, markets have grown and companies such as P&G are investing in developing a deep understanding of the unique consumer behaviour, Venkatasubramanian added.
“By learning and understanding our consumers, enabled by the power of digital transformation, we will be able to stimulate performance and unleash results. I think the opportunity has never been greater than this. The playing field has never been greener than this,” he said.
In his keynote address at an event organised by industry body FICCI, Venkatasubramanian said consumer aspirations are evolving “rapidly” in India, changing the dynamics of India’s consumption-led economy.
This is led by an increase in disposable incomes, coupled with greater aspirations fueled by access to information.
“With consumers being more value-conscious than outlay conscious, they are willing to pay for more evolved needs and make informed choices of superior propositions that fulfil their needs,” he said.
Now nearly two-thirds of the country’s population has access to the internet, which has in turn democratised information and experiences.
“Studies estimate India to have the highest per-capita income growth in the world, at 5.4 per cent per annum during 2024-33, driven by growing urban populations, increased production through technological advances, rising income levels and other macro-economic factors,” he said.
He further added that the convenience of being able to get products and services delivered faster than ever before, in a hassle-free manner is exciting. “After all, time is a critical commodity. This is evident in the way the e-commerce and quick commerce markets have grown,” he said.
Citing a Deloitte report, he said India is expected to have over 500 million online shoppers by FY30.
“Trends also indicate that over 30 per cent of urban Indians now use quick commerce for their primary grocery shopping,” he said.
Procter & Gamble (P&G) owns brands which include Ariel, Tide, Whisper, Gillette, AmbiPur, Pampers, Pantene, Oral-B, and Head & Shoulders.
It operates in India through four entities – P&G Hygiene Health Care, Gillette India, P&G Health and P&G Home Products. PTI KRH DRR
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