Perfect recipe! 2-minute Maggi fires-up Nestle to record high during lockdown; this is how much it sold
People have had to change their lifestyle in many ways during lockdown to adjust themselves inside the confines of their homes. However, that did not adversely affect Nestle.
People have had to change their lifestyle in many ways during lockdown to adjust themselves inside the confines of their homes. However, that did not adversely affect Nestle. In fact, this company's business skyrocketted! Zee Business reports that during this period, Maggi consumption has gone to a record high. This rise in Maggi consumption is getting reflected in the volume growth of Maggi in year on year (YoY) basis as it has gone past its figure before the 2015 ban, when it was at a massive high!
Zee Business exclusive report says, "Maggi volume in YoY terms has gone past its volume of pre-2015 ban levels. Its volume in 2014 was at 2.54 lakh metric ton while today its volume stands at 3.64 lakh metric ton, which reflects about the comeback of Maggi, the market leader in the instant noodle segment." While Maggi logged sales in 2014 of Rs 2,961 crore, today it stands at Rs 3,500 crore, which is way above the pre-ban levels.
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This current development is a good sign for Nestle. Maggi is a market leader in the popular instant noodle segment in India as it holds around 80 per cent of the entire instant noodle market here.
See Zee Business tweet below:
2 मिनट में बनने वाली #Maggi ने लॉकडाउन में बढ़ाया नेस्ले के कारोबार का स्वाद...जानिए लॉकडाउन में कितनी बिकी आपकी परफेक्ट मैगी!@NestleIndia @AnilSinghvi_ @davemansi145 #Lockdown #COVID19 pic.twitter.com/twwbIqw8j5
— Zee Business (@ZeeBusiness) June 5, 2020
What is more, the future looks bright too as the Indian market has huge growth potential in the instant noodles market segment.
Nestle share price today went down to the tune of 0.75 per cent and closed at Rs 17,067 per stock levels.
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