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Lower Growth In Discretionary Spending Prompts FMCG Companies To Offer Discounts To Push High-End Products In India

April 10, 2013: 12:00 AM EST
India's leading fast moving consumer goods companies, including Cadbury, Hindustan Unilever, ITC, Procter & Gamble, and Heinz, lowered prices of their high-end products between 10 percent and 70 percent to drive demand. For example, Cadbury India is selling the 400-gram pack of its Toblerone chocolate at a heavy discount, while Heinz is offering 20 percent off on its Complan brand of milk. For its part, Hindustan Unilever is offering discounts on its Pears, Dove, and Sunsilk brands. Discretionary spending growth in India slowed down to 17 percent during the first nine months of 2012-13 from 31 percent in the previous year, according to Credit Suisse.
Ratna Bhushan and Sagar Malviya, "FMCG biggies such as Cadbury, HUL, ITC, P&G offer big discounts to push premium products on slowing demand", Economic Times, April 10, 2013, © Bennett, Coleman & Co. Ltd.
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