Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
FMCG sector 2018-10-23

Busting The Common Misconceptions For A Better FMCG Future

With 60-70 % being global players, 10-20 % are Indians contributing to the GDP. Consider failure as a stepping stone.

By Junior Copy Editor
Busting The Common Misconceptions For A Better FMCG Future

“While there seems to be a lot of demand in the FMCG market what are the products that will be leading?” asks session moderator Anurag Mahajan, Director, Ernst &Young at the Opportunity India Summit, 2018, organized by Franchise India.

Going the Millennial way:

Aditya Bagri, Director, Baggrys India Ltd., says, “People nowadays look at convenience.  Also, there is a lot of premiumisation happening along with demand which is driving the FMCG growth.” It is no more about perception but a brand will actually have to deliver and match up to their name.

Hitesh Dhingra, Founder &MD, The Man Company, agrees, saying, “Consumer behavior has changed due to disposable income and they are unwilling to compromise on the quality.”

Busting the common misconception:

Given that nowadays there is a lot of mushrooming of new entrepreneurs, a big problem is that it is a common misconception that global trends can also work that well in India. What works well in the international market might not work well at all here, customization and alteration is a necessity to set up.

However, it is also true that times have changed and new age consumers are looking at different things. People are maturing and know what is right and what’s not, and they have also started asking questions. Dhingra, says, “Major urbanization been taking place with a lot of disposable income. Consumer behavior has changed due to disposable income and they are unwilling to compromise on the quality.”

Transparency in product range:

New age consumers are looking at different things. People are maturing and know what is right and what’s not and they have also started asking questions. The brands who have managed to enter a 25-year-old’s mindset has actually managed to penetrate and establish an emotional connection with him. 

Prabhtej Singh Bhatia, Founder and CEO, Simba Beer says, “You not only need to be connected with the brand but also need to be extremely transparent about the products. India is too big a market and requires a diverse product range.” Therefore, it can easily be concluded that in today’s time your product needs to be transparent and be able to establish a connect with the consumer base in order to be popular.

New age Marketing:

The next thing to deal with is marketing. The millennials are highly pro-digital. Both Prashant Parameswaran, MD &CEO, Kottaram Agro Foods (Soulfull), and Aditya Bagri, agree that digital marketing has reached that level of inflation that one can now freely post a story. This was previously unthinkable.

Bagri states, “We end up creating a lot of products based on consumer feedback. As an entrepreneur, you need to realize your strengths and weaknesses.”

Comment
image
image
image
image
Related opportunities
  • About Us:  At LongLive Pizza, our aim is to make a..
    Locations looking for expansion Delhi
    Establishment year 2014
    Franchising Launch Date 2015
    Investment size Rs. 10lac - 20lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Preschools
    About Us: Started in Ahmedabad,9 kids, an initiative of the  H.B...
    Locations looking for expansion Gujarat
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 30lac - 50lac
    Space required 4300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ahmedabad Gujarat
  • Quick Service Restaurants
    About Us: FullFills is a contemporary restaurant brand which serve international..
    Locations looking for expansion Maharashtra
    Establishment year 2009
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • About Us: Join hands with Iris Florets - the happy play..
    Locations looking for expansion Telangana
    Establishment year 2014
    Franchising Launch Date 2015
    Investment size Rs. 5lac - 10lac
    Space required 2000
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Hyderabad Telangana
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities
More Stories

Free Advice - Ask Our Experts