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Prabhudas Lilladher Report
We interacted with channel partners covering key markets to ascertain demand trends across product categories during the quarter.
Our key observations are:
1. demand momentum sustained till mid-April
2. May was less impacted than last year as lockdowns were state specific and markets/e-com deliveries remained operational in few states
3. post unlock in June, demand intensity was strong in initial days before fizzling out towards the end
4. channel expects intensity of pent-up demand to be weaker versus last year
5. delayed onset of monsoon in North aided sale of seasonal products
6. Indication of 5%-7% price hikes across products categories in July and
7. despite lockdowns channel inventory remains comfortable at near 2019 levels.
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