Millennials Thought Process Is Expected To Have Blooming Impact On FMCG market

Posted on: Jan-2019 | By: Pro Market Reasearch | Electrical & Electronic Device

The FMCG industry anticipates a promising growth, thanks to the millennial talent. Industry experts believe that 2019 is a promising year and that the millennial generation and technology are the main driving force behind the growth for change in the majority of the sectors, while retail and FMCG turn out to be more lucrative with these driving factors.

The millennial generation and digital transformation will certainly motivate transformation in the industry. As per the statement Amway India, CHRO, Shantanu Das, in 2019, the millennial generation will persist to transform the recruitment process and the engagement policy.

He said, "Research points out that juvenile employees today want additional than just a wages and, in addition to compensation, are largely influenced by factors such as organizational culture, focused career development, employee engagement policy, company value system, work, and sustainable working methods, staying in sync with a balance between private and work life."

India's retail market is expected to grow by 60% due to factors such as increased incomes, changes in the middle-class lifestyle, and increased digital connectivity. This would have a direct impact on talent as there would be plenty of new growth prospects for young and experienced people.

"Large multinationals lined up and existing players mobilized to include the latest technologies such as artificial intelligence, internet of things, machine learning, predictive analytics, and chatbots." There is a growing need for people with specialized skills and knowledge; it would also mean a growing interest in the movement of talent across all geographical areas and fill all gaps, "said Venkataraman B., chairman of the Human Resources Group at Landmark Group India.

Recent mergers and acquisitions of consumer brands, such as Walmart-Flipkart and GSK-HUL, mark a noteworthy shift in the industry. It will bloom this year with a high prospect for the employment sector. Swedish brand Ikea is investing Rs. 5,000 Crore in the next Noida store, which is expected to create estimated 4,000 direct and indirect jobs.