Global Franchises can take a cue from the Indianising strategy used by the existing international franchises to tap the Indian Consumers
India’s Promising business eco-system has tempted many international franchisees to venture into the Indian Market. Over the past few years, the country has opened its gate to some top International brands from various fields, be it fashion, food, beauty or retail. The nation is emerging as the lucrative horizon for global brands.
However, solidifying one’s footprints on a foreign land has always been a hard nut to crack. The success rate is usually influenced by the demographics, economic status, cultural values, and variations in products/services model across the boundaries and much more. Despite the given challenges, global brands have sealed their fate and garnered success here, like Domino’s, Burger King, Mc Donald’s, KFC, Levi’s, Steve Madden, and IKEA etc. One thing which was common between all these brands was- Localization Strategy.
These international franchises have paved the way for other global brands on how to make their way to the Indian hearts. Global Franchises can take a cue from the Indianising strategy used by the existing international franchises to tap the Indian Consumers.
Every country has its own culture and values, which are also, reflected in their food choices. The food preferences of Indians are influenced by religious beliefs to a great extent. While India is a diverse country, so are the food habits. Approximately 40% of the population follows vegetarianism, and the rest 60% who are non-vegetarian refrain from consuming pork or beef.
Henceforth, Food franchises like Mc Donald’s, Burger King whose global menu contains pork & beef won’t work in India. They had to include vegetarian items in their menu list to be widely accepted by the Indian Population.
The Popular chain, KFC, deals with chicken, got struck by only serving non-veg items in their menu which resulted in their shutting down. But, later on, the brand re-entered the Indian market with Vegetarian options in their menu and both their sales and popularity took off.
Partnership with Indian Brands
Another way the international players are making their mark in the Indian Market is by partnering with the industry biggies. Associating with the already established Indian players gives the franchises the initial boost by creating awareness and credibility. It also increases its demand in the Indian Market. For instance, Christian Louboutin had collaborated with the Indian designer Sabyasachi for a limited edition collection.
The best way to tap the Indian consumers is to identify the needs of the majority and offer the solution. Many brands have customized their offerings after intensive research and customer feedback. Major Franchises like LG, Samsung offered the means to eradicate that problem. For instance, power cut is a huge issue in India, thus, electronic brands started launching electronics with built-in inverters. Mobile brands provided phones of various range to the consumers of Tier II and III Cities.