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ITC is positive about the 2024 consumption story: Ashu Phakey

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Ashu Phakey, Vice President and Business Head – Frozen and Fresh Foods at ITC Limited says that the company is pretty positive about the 2024 consumption story.

Phakey points out this optimism considering the present conditions in terms of infrastructure, tourism and consumer behaviours.

We are looking at it with extreme positivity. Both the channels (HORECA and frozen that Phakey manages) will grow and the consumer franchise will also grow,” said Phakey.

Speaking further on the key focus areas for 2024, Phakey adds that it would be distribution, service and food solutions that will be around consistency in quality, great tasting, and innovation at a great cost.

This is going to be important considering the expansion of HORECA into more towns beyond the metros. In addition, the focus will be also on the frequency of service, and quality of service.

Speaking further on the expectations from the Phygital Retail Convention (PRC) to be held in Mumbai in May, Phakey says “I think it will be good to get the ecosystems, especially if I was to look at HORECA, to get a lot of people from the industry from diverse regions to understand what they’re seeking and what trends they’re looking at.”

He also expects good participation from across different regions to understand different perspectives and happenings.

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