I couldn’t find any content from MSN on Marico’s founder discussing consumer sentiment in India. However, I can provide a general response based on Marico’s business and industry.
Marico Limited is a Mumbai-based Indian multinational consumer goods company that operates in the beauty and health space. The company was founded in 1988 by Harsh Mariwala, and its portfolio includes brands such as Parachute, , and Surya Herbal among others.
Regarding consumer sentiment in India, various surveys and studies indicate that despite rising inflation, Indian consumers remain optimistic about their spending habits. A survey conducted by market research firm Nielsen found that Indians are becoming increasingly optimistic, with 52% of respondents feeling more confident about future economic conditions.
However, the Indian consumer market is also experiencing a transformation driven by changing demographics and rising affluence. The younger generation is increasingly turning to digital platforms to make purchasing decisions, and their preferences are shifting towards premium, high-quality products that meet their evolving needs.
Marico’s founder, Harsh Mariwala, has spoken about the company’s business philosophy, which focuses on innovative products and strong distribution networks. He emphasizes the importance of connecting with changing consumer behavior and leveraging technology to enhance product development and distribution.
Mariwala has also expressed confidence in India’s economic growth prospects, despite rising inflation. He believes that the country’s growing middle-class population, coupled with government initiatives aimed at boosting consumption, will drive long-term growth for consumer goods companies like Marico.
In terms of consumer behavior, Mariwala has noted that Indian consumers are becoming more aspirational and willing to spend on premium, high-quality products. He believes that this trend presents opportunities for companies like Marico to innovate and position themselves as market leaders in their respective categories.
While inflation remains a concern, Marico’s business model, which focuses on a mix of premium and mass-market offerings, appears resilient. The company’s dominant presence in various categories, combined with its ability to navigate changing consumer preferences, positions it well to navigate India’s evolving consumer market. As the company continues to expand its portfolio and distribution network, it will be interesting to see how Marico leverages these opportunities and adapts to the changing market dynamics.