12 Kolkata: FMCG giant ITC has indicated that it is leveraging artificial intelligence and a robust digital backbone to accelerate product innovation, respond to emerging consumer trends and efficiently serve diverse retail channels, including general trade, e-commerce and quick commerce.
"We started with the Sixth Sense Centre to monitor social media conversations, identify consumer trends and translate them into actionable insights. Today, we have AI tools that can extract themes such as dietary shifts — like growing millet consumption — and recommend product ideas based on ingredients and recipes people are talking about," ITC executive director Sumant Bhargavan said.
You Can Also Check: Kolkata AQI | Weather in Kolkata | Bank Holidays in Kolkata | Public Holidays in Kolkata
ITC operates in a wide range of categories in food, personal care and hygiene and its digital transformation journey began nearly six years ago, Bhargavan said at an event on retail organised by MCCI.
ITC had also developed a fully integrated digital supply chain that supported multiple retail formats and each channel had unique demands, especially in terms of inventory management and speed of delivery, requiring tailored supply chain models and demand-sensing tools, he added.
"That's how we launch over 100 products a year," Bhargavan said.
Meanwhile, Reliance Grocery Retail CEO Damodar Mall said nearly 72-75% of retail was physical amid sharp traction in digital.