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Cocofly launches 200ml bottle of 100% pure coconut water priced at Rs 20
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Thursday, 08 June, 2017, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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Cocofly launched a 200ml resealable bottle of 100 per cent pure coconut water at the affordable price point of Rs 20.
After a rapid adoption by over 30 new distributors and 4,000 shops across Delhi and the National Capital Region (NCR) in the course of a single summer, and having received an overwhelming response (with over 1.6 million packs sold in their opening season, starting April 2016), founders Arjun Gadkari and Abhay Jaiswal believe that this new stock-keeping unit (SKU) can be a game-changer in the rapidly changing packaged coconut water industry, that has recently sprung up in India.
The launch of the new SKU is a continuation of the duo’s long-term vision of building food and beverage (F&B) brands for 21st-century India. By offering the health benefits associated with coconut water at the attractive price of Rs 20, the company is bringing one of India’s oldest and most revered health tonics to mainstream India.
Unique selling proposition (USP) of the new packaging
• At Rs 20 per 200ml pack, the SKU is now priced competitively with the 100 per cent juice industry, more than 40 per cent below the standard maximum retail price (MRP) of other coconut water brands
• The sleek, sporty bottle is made from BPA-free plastic, and comes with a protective safety seal and a resealable cap for added hygiene and convenience.
• New and improved shelf life of 12 months and simple and informative iconography relates all the health benefits that Cocofly can offer to the consumer without over-intellectualising the transfer of the information
Achievements of the brand so far
• With the increased awareness of overall health and diet, natural health beverages are expected to grow at a likely value compounded annual growth rate (CAGR) of 18 per cent. At an installed capacity of four million litre, Nilgai Foods has established the largest supply chain of packaged coconut water in the country
• With the change in price, Cocofly has made the product mass affordable. Today, the raw coconut water is available at Rs 40 in metro non- coastal areas and at Rs 35 in metro coastal areas, which makes consumption restricted for middle-class families. With the launch of Cocofly at Rs 20, the company aims to capture the middle-class segment, who are aspiring for a healthy lifestyle, and make it affordable for them. Due to price sensitivity, healthy choices are often compromised by the mass segment. With Cocofly, the founders believe that this barrier can be broken, so that healthy living can go mainstream. Making health more accessible and affordable is our new mantra for the launch of Cocofly’s new SKU
• Cocofly’s individual market share is estimated to be 4-6 per cent of the total fruit juice category in shops where it is available, which is valued to be greater than the combined market share of the second and third packaged coconut water brands, currently available in the market
• Cocofly is now rapidly spreading its wings across the country through e-commerce distribution on Amazon and its own e-commerce platform, as well as major hospital chains such as Fortis Hospitals and national partnerships such as Carnival Films
• In the recent past, the Nilgai Foods management team noticed a dramatic interest from international markets such as Africa, the Middle-East and Western Europe (the United Kingdom and Russia)
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