Contrary to the buzz suggesting weakness in rural demand, fast-moving consumer goods (FMCG) sales data for November shows that it is the urban demand that is the culprit of being a drag in sales numbers.
FMCG sales (in value terms) in urban India contracted in November as compared with last year as migrant workers, including shop owners, returned home for the festival season, according to data by retail intelligence platform, Bizom.
In November, FMCG sales in urban India fell 6.3 per cent compared with the year-ago month while rural sales were up 17.9 per cent in the same period.
Overall FMCG sales in