5 Key Trends in FMCG Sector for 2021
Last festive season, the hiring was just 20% of 2019 and this time it could be around 40%. Retailers are upbeat about sales, but are apprehensive about how a possible third wave could affect the physical store sales.The industry appears to be bullish about the growth in festivity season demand led by a rebound in consumer confidence and sentiments. The festive sales are expected to register a 30% growth over the previous year.
The recent Employment Outlook Report for Q3 FY22 by TeamLease Services captures that the FMCG employers’ intent to hire for Q3 is at 59%, an increase of 8% from last quarter.
As a practitioner, I have closely observed the impact of COVID 19 and seen how the industry has coped up with this. Some of the key trends for the FMCG Sector in 2021:
- Hiring Needs and Patterns - Witnessing an 8% jump in FMCG Sector’s intent to hire for this quarter at 59%, the top cities like Delhi and Bengaluru leading in hiring for Sales Roles extensively. WFH Profiles for Business Continuity is a bleak option for this sector but with the ebbing of the second wave, the outlook is positive as festivities galore.
- Adoption of Digital Tools Processes by organisations - Pandemic forced digital literacy enabled and enforced positive outlook plus adoption of technology shifts for operational management. At TeamLease, 55% Hirings during FY21 were done through digital mode.
- Demand for Sales Roles - As per Jobs & Salaries Primer 2021, Salary Growth for Brand Manager was recorded at 8.34% followed by Business Coordinator profiles. While it has been seen that demand for sales roles in the FMCG Sector has touched a high of 34% for Q3.
- A surge in Upskilling and Training initiatives by organisations - Around 84% of respondents echoed that the upskilling initiatives have helped them get a better job/position.
- Adoption of Formalisation GAPS - The industry is moving towards Channel Salesforce Effectiveness with formalisation to watch out for GAPS - Ghost employees elimination, Attrition reduction, Productivity enhancement through tech, Statutory Compliance in light of the imminent rollout of labour codes.
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