In a recent survey conducted by the traders’ group CAIT, the majority of the population of the country utilises household products from over 30,000 small and medium-sized businesses, while just 20% use things offered by large corporations.
According to the survey, Fast Moving Consumer Goods (FMCG), consumer durables, and cosmetics from over 30,000 small and medium businesses are catering to the need of 80% of India’s population. Foodgrains, oil, groceries, personal cosmetics, innerwear, ready-made clothing, beauty and body care, footwear, toys, educational games, and healthcare were all included in the study.
‘It’s a myth that about 3,000 big brands of corporate houses, particularly in the FMCG sector, consumer durables and cosmetics etc, are catering to the needs of the people of the country. In fact, more than 30,000 small and medium but regional level brands are the largest contributor in meeting the demand of the people of India’, CAIT (Confederation of All India Traders) said.
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As per the survey, the great majority of people’s needs are met by items made by small manufacturers and marketed in modest quantities. Due to intensive media and outdoor exposure, as well as celebrity endorsements, big brands are in great demand among the upper and upper-middle classes, according to CAIT Secretary General Praveen Khandelwal.
Brands of small manufacturers, on the other hand, are sold through one-on-one interaction between consumers and shopkeepers, word-of-mouth among individuals of medium and lower-medium income categories, as well as those from economically disadvantaged groups, he noted.
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