I don’t think so. This is anecdotal but I have seen people from lesser income groups too buying water and not carrying water, when venues to buy water are available. These are unbranded in some cases and sometimes local brands, but people are buying. And I for one, cannot say one brand is superior to others – Bisleri, Aquafina, Oxyrich etc, when all such brands go through the same stages of purification, and as such, put the information on their respective bottles, so I guess even educated people may not find one brand more better than the other and choose whichever is more available, so distribution may be the key here. And when all the brands are well known, I guess all will grow, except for some regional market share here and there.
So if something has become a part of life, something where people are not in 2 minds to take a decision, something which people buy quickly in seconds, despite the low margins, the segment becomes a permanent vertical, along with the regular increase of price, unless there is some regulatory change that poses a challenge.
Have a position in VBL, bedazzled by the rise.
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