A vendor reads the newspaper while waiting for customers at a grocery store in Mapusa, Goa. (Photograph: Sanjit Das/Bloomberg)
As Indians cut back on consumption in a slowing economy, a strategy that consumer goods makers banked on to keep growing isn’t working anymore.From snacks and biscuits to shampoos and hair oils, companies offered premium products in smaller, affordable packs to convert customers to costlier alternatives in the hope of initially boosting volumes, and eventually improving margins by creating a habit. But customers are not only buying l...