The Kantar LMRB Household Panel was relaunched as Kantar Worldpanel at the Galle Face Hotel in November last year with the unveiling of the logo.Managing Director, Media | Digital, KANTAR IMRB, Hemant Mehta, CEO of Kantar LMRB, Himalee Madurasinghe, Commercial Director Europanel, James Hobbs, - General Manager Kantar Worldpanel South Asia, K. Ramakrishnan and Head of Kantar Worldpanel Sri Lanka, Chamika Fernando were also present.
CEO Himalee Madurasinghe opened the event with a presentation on ‘A glimpse into emerging consumer trends’ which covered how consumers are creatively adapting to economic pressures. “The Sri Lankan population is aging fast, the economically agile segment now has to take care of the elderly as well as the young. There are many opportunities. Health and Nutrition awareness is growing, the consumer is becoming aware of the necessity to control the intake of sugar, salt and such foods, as well as the need to be active. “The consumer is now seeking natural, ‘close to nature’ solutions. Convenience is becoming even more important.
The digital wave has embraced the lives of everyone, it has a lot of implications, the challenge is for us to see the opportunities,” she said. The GM of Kantar Worldpanel in India, K. Ramakrishnan also spoke.
The sharp increase in expenditure on basic groceries, has left very little room for the consumers to spend on other FMCG categories. With these challenges, the housewife is reducing her expenditure.
The reduction is in both Urban and Rural areas. Across all Socio-economic groups, the rationalisation of brands is taking place, more so in the more affluent economic groups. Further, evidence of product usage being stretched to prolong the period of use in order to delay the next purchase, was also mentioned. More consumers are hunting for bargains when purchasing essentials and purchasing from wholesalers increased.