Godrej Consumer Products eyes double-digit growth this fiscal year
Fast-moving consumer goods giant Godrej Consumer Products expects to achieve double-digit growth in the 2022 financial year, as it continues to expand into multiple product categories and locations.
“If the thing remains stable and a third wave does happen or if happens in a mild way, we would be empowering for a double-digit value growth this [fiscal] year,” Godrej Consumer Products’ CEO for India and SAARC Sunil Kataria told the Press Trust of India.
“We expect the growth to be spread across categories. Personal wash and hygiene would continue to do well.”
Godrej Consumer Products is working towards becoming a fully comprehensive home and personal care business and is expanding its product offerings towards this end. The business is also expanding its distribution network across India to reach a wider variety if shoppers, especially in rural locations. There is an increasing demand amongst non-metro shoppers for branded FMCG products which Godrej plans to tap into.
The business saw its e-commerce sales grow as shoppers stayed home during the pandemic and, foreseeing this trend continuing into the future, plans to continue to focus on its online segment. Godrej is also witnessing growth in its pharmacy and chemist store segment, another arm of the business which grew in importance during the pandemic.
Godrej Consumer Products expects for e-commerce sales to make up 10% of its total sales in the coming two to three years. The business is introducing digital-first brands towards this end.
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