Reazul Haque Chowdhury

Consumers prefer quality products:

Sri Lanka’s rural market is growing fast

Sri Lanka has an evolved consumer segment. Consumers prefer quality products and make a smart choice of brands. Sri Lanka’s rural market is also growing fast. Research showed that the FMCG growth in 2009 was driven by the rural market in Sri Lanka said Managing Director, Reckitt Benckiser Lanka Limited Reazul Haque Chowdhury.

Q. How do you see the FMCG market in Sri Lanka?

A: Sri Lanka has a very high per capita income among the SAARC countries. The per capita consumption of any product is significantly higher than other SAARC countries. Therefore, the market offers a good potential for FMCG Companies.

The macro economic indicators are moving in positive directions, inflation has come down and the Northern and Eastern regions will be opening soon.

Sri Lanka has an evolved consumer segment. They prefer quality products and make a smart choice of brands. The rural Sri Lanka market is also growing fast. Some research showed that the FMCG growth in 2009 was driven by Rural Sri Lanka.

Looking at all these, I think Sri Lanka has a potential for FMCG business. More FMCG companies will be interested in Sri Lanka’s market.

Q. How do you see the competition in the market?

A: Sri Lanka is a highly competitive market. All leading multinational FMCG companies are operating in the country. Local companies are doing well and offer quality brands to the consumers. From my market visits, I see that even small retailers are carrying at least 4/5 brands for each category.

Sri Lankan consumers prefer wide choices which also increase the level of competition in the marketplace. Fair competition is always beneficial for the consumer. It will force the competing companies to continuously focus on their product quality and offer the best value proposition to the consumer.

Q. What are Reckitt Benckiser’s future plans?

A: Reckitt Benckiser has been constantly reinventing itself in each market to cater to the changing consumer needs. Innovation in product, communication and our market practices are the key to success. We are highly committed to offer the best to our consumers in the categories we operate.

Similarly, in Sri Lanka too we have been focusing on product innovation. We have been introducing new products while innovating and reinventing the existing product portfolio. We have been continuously improving our market execution capabilities.

As the world leader in household, health and personal care, RB is committed to satisfy millions of Sri Lankan consumers through world-class brands.

As far as capability is concerned, we will take the initiative to reach more consumers by expanding our distribution base and making our brands available for them. RB is also focusing on developing local talents through numerous training and development initiatives.

Q. What is your advice to young people?

A: Encouraging people is one of my passions. Professionals like us should work closely with young managers and help them to grow and contribute. My advice to young people is to give their best in everything.

They need to be passionate in everything they do. They need to develop a habit of going into depth. There are a few values they need to develop early in life. These are honesty, humility, a sense of humour and above all a positive attitude towards everything. We will always see what we want to see and our attitude always play an important role in what we see.

I would also advise all my young friends to spend some time daily in reading and enhancing their knowledge base.

Young professionals should consider the first five to eight years as an investment and be ready to take on any challenges. The dividend of this investment will be realized throughout life.

From Reckitt Benckiser’s perspective, I would add that if you are good, you will be recognized within the RB system and if you are mobile, you will keep moving forward in RB. It does not matter how old you are or where you are from. The younger the better.

Q. How do you spend your leisure?

A: I hardly get any free time. But I have no complaint. I enjoy my work and love to work with my team. If I get some free time, I spend it with my family and friends. My family is the biggest source of inspiration. At the end of a long day, its always rewarding to see the smiling face of my lovely children.

Despite the busy schedule, I spend some time in reading mostly business articles. Listening to music is one my passions and I love Bengali music. If I get long weekends, we go out of Colombo with my family.

Q. What is your philosophy in life?

A: I believe in simplicity. As a person, I prefer to lead a simple life and be happy with what the Almighty has given us. I also believe that I am part of the fortunate group in the society and it’s a moral obligation to give back something to the society in our own way.

At corporate level, I believe, “When the going gets tough, the tough gets going” - cliched as it may sound, this truth remains. To say that the last year (2008) was tough would be an understatement. Input costs have gone up significantly; the competitive landscape has become ever more challenging and growth has been circumspect.

However, we at Reckitt Benckiser Sri Lanka have been constantly innovating to meet the changing dynamics of the market - be it the products we offer or our corporate look (we have changed our RB Logo - www.rb.com). I am proud that Reckitt Benckiser Sri Lanka has been growing in line with our internal benchmarks.

Q. What are the places you wish to visit in Sri Lanka?

A: Sri Lanka is a lovely country. There are many places I would like to visit. I find Colombo is interesting as it’s the business hub of Sri Lanka. I have visited many places in Sri Lanka so far. I am looking forward to visit Trincomalee, Jaffna and the other parts of Northern Sri Lanka.