SL consumer goods market competition intensifies amidst inflation targeting

Sri Lanka is seeing new entrants and products in several markets with the central bank helping drive down costs with currency stability, a top player in fast moving consumer goods, stationery and healthcare.

“Compared to the previous year, the appreciation of the Rupee and the decline in commodity prices have intensified competition within the industry, with several players offering a variety of consumer, shopper and trade promotions,” Sri Lanka’s Hemas group told shareholders in its interim accounts.

“With the easing of import restrictions and the stabilisation of the Rupee, the stationery market experienced added competition with an influx of new entrants offering products at lower price points and varying quality.”

In home and personal care, Hemas has “successfully maintained market shares across most categories, achieving marginal growth in a number of categories, along with improved profitability,” despite the challenges posed by downward price movements

 

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