Indian consumer rapidly evolving due to aspirations, tech: HUL chief

'New dynamics a significant opportunity' for FMCG sector, says Nitin Paranjpe

India’s economic development, technology and aspirations create “significant opportunity” for the consumer goods sector, said Nitin Paranjpe, chairman of Hindustan Unilever (HUL), in a letter to shareholders in the company’s annual report for FY25.

 

India is set to deliver strong and consistent growth due to increasing affluence, a burgeoning middle class, a vibrant young working population empowered by a strong public digital backbone, and growth-oriented policies, he said.

 

“Economic development, technological advancements and a better quality of life have fuelled the aspirations of our consumers. These new dynamics present a significant opportunity for the FMCG (fast-moving consumer goods) sector,” he said.

 

 

 

HUL is well-positioned to meet the evolving needs of the aspiring Indian and its strategy is “clear, future-focused and rooted in creating value for all our stakeholders”.

 

“In the financial year 2024-25, the business witnessed a challenging operating environment with uneven weather patterns, volatile commodity prices and muted consumer demand.”

 

“Against this backdrop, your company, Hindustan Unilever, has delivered a competitive and profitable performance by navigating short-term volatility while continuing to invest for the long term. We remain confident that the future holds a host of exciting opportunities,” he said.

 

For the “digital native consumer”, the company has adopted a social-first approach in its marketing and creating engaging content.

 

“We are strengthening our presence in channels of the future with a focus on Future Core and Market Maker portfolio. In fact, we are deploying the Winning in Many Indias (WiMI) 2.0 approach to reach our consumers. WiMI 2.0 is based on the understanding that consumers across the economic pyramid will have varied interests and expectations, including what they buy and where they shop,”  he added.

 

 

 

HUL is building “distinctive moats” that will help it thrive in the future. The company is leveraging its global repertoire of technology and innovation to bring science-backed products to consumers.

 

“Armed with our new strategy anchored around sharper portfolio choices, excellence in new demand drivers, acceleration of moats as well as the pillars of a winning culture and focused actions on sustainability, we are ready to serve the needs and leverage the opportunities of an evolving India. We believe that in partnering (with) the nation, we are well-placed to deliver growth in the future,” said Paranjpe.