Buying patterns of FMCGs rapidly changing during ongoing economic crisis

• Significant changes in consumption pattern observed every month
• Consumers are more conscious of their usage
• Overall consumption of FMCG has contracted by about 15% in recent months
• Hardly any changes noted in buying behaviour of baby care products 

By Shabiya Ali Ahlam
The Sri Lankan consumers are showing significant changes in buying behaviour, owing to the challenges brought about by the pandemic and then the economic crisis; however, in recent months, the purchasing patterns are changing more rapidly. The senior representatives of diversified conglomerate Hemas Holdings shared with Mirror Business that those in the fast-moving consumer goods (FMCG) segment are dealing with new trends in the purchasing patterns, where they are pushed to be innovative in their approaches to retaining and growing market share.

“Our teams interact with the consumers very often and every month we see significant changes in the consumption pattern.The changes are happening rather fast and we need to keep up; we would need to pivot our portfolio and rationalise what we produce among other efforts,” said Hemas Holdings PLC Group CEO Kasturi Chellaraja Wilson.

Willson went on to share that a contraction in consumption volumes is observed across all product segments, where the consumers are more conscious about their usage. The contraction is about 15 percent, according to Willson.

As opposed to how near essential and personal care products were used just over a year ago, the consumers are observed to be using a product for a longer duration. They are also opting for products and brands that the entire family can use.

In the baby care product segment, for products such as soaps and cologne, the demand for such products remains more or less the same, as parents view it as essential products for the hygiene of children.

 However, with the escalating cost of living in the country, parents are struggling to balance the cost of living and provide quality products for their children.

Hemas FMCG Acting Managing Director Sabrina Esufally shared that the consumers are now looking for smaller packs of products, so that they are still able to have access to baby care products.

“This is a really difficult time for consumers trying to balance their basket. As we know, the cost of food has increased and this is very challenging.

What we did is make our products available at different price points. In the baby care segment, it is interesting to note that mothers have not reduced consumption,” shared Esufally.

Although strong demand continues for baby soap and cologne, there is a drop in consumption noted for products such as nappy washing powders and similar products. 

Meanwhile, Esufally said that as a manufacturer of FMCGs, Hemas is privileged to be in a position to have access to raw materials. As a result, the entity is able to carry out production with minimal hindrance.

“We don’t see an interruption in our ability to supply; we will go that extra mile to ensure that the requirements of our consumers are met and find a way, whatever it takes to ensure that we continue to supply our products,” said Esufally.