FMCG Q2 Results: Five Patterns That Matter

Q2 results confirm that FMCG's growth engine has shifted from price to volume, with Unilever posting its best volume quarter since 2010 and Coca-Cola growing unit cases five percent. But the funding differs sharply. Most companies finance volume through productivity programmes, Coca-Cola and L'Oréal self-fund through brand strength, while Essity trades value for volume. PepsiCo's failed American price cuts prove that discounts alone do not create demand. With the consumer world split between ...