Wipro Consumer Care & Lighting has recently in a report mentioned that the second COVID wave is expected to slow down growth in the rural FMCG market in the current fiscal and that the situation was challenging for the business in the June quarter. Now, the company expects growth to be almost equal in both rural and urban markets for FMCG products this fiscal unlike last financial year when the rural markets recorded higher growth.
The company expects growth to be almost equal in both rural and urban markets for FMCG products this fiscal unlike last financial year when the rural markets recorded higher growth. Wipro has furthered its reach and has in the last four months done two investments in brands — Onelife and MyGlamm.
Expressing its growth plans Wipro also heighted that it will acquire new brands and the company is like always in talks but after the pandemic companies have taken a hit and their valuations have declined. Hence, promoters of many companies do not want to sell at a lower than expected price.
Commenting on the e-commerce growth in the last fiscal, the report mentioned that e-commerce is the driver in every country where it operates, though the volume is still low, including in India. E-commerce has given almost 100 per cent growth in all the markets where Wipro operates.
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