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Consumer brands should REBOOT businesses: FICCI-Deloitte

Oct '20
Pic: Shutterstock
Pic: Shutterstock
Consumer brands should ‘REBOOT’ their businesses in view of the pandemic-induced disruption and changing consumer behavior, according to the fourth edition of a report called REBOOT jointly launched by the Federation of Indian Chambers of Commerce and Industry (FICCI) and Deloitte Touche Tohmatsu India LLP (DTTILLP) recently in the annual edition of MASSMERIZE event.

MASSMERIZE is FICCI's flagship annual retail, e-commerce and fast moving consumer goods (FMCG) conference by its consumer committee.

Built on a six-step approach, the report calls for the REBOOT strategy as businesses need to 'Realign' their business models and partnerships, ‘Enhance’ consumer experience through technology and analytics, 'Build' resilient distribution, develop their 'Omni-channel' presence, 'Operate' efficiently, and 'Thrive' by focusing on sustainability, said a FICCI press release.

“Increased involvement and participation of businesses with the help of supportive policy measures will help capitalise on this potential and achieve the societal goals of inclusive growth and empowerment of the people,” said FICCI secretary general Dilip Chenoy.

The pandemic accelerated e-commerce sales as stay-home phenomena drove significant purchases through e-commerce. It has also led to massive reverse migration, which in turn has driven up rural demand, favouring companies with strong rural distribution.

Fibre2Fashion News Desk (DS)

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