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FMCG industry is the most successful world over
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Monday, 17 January, 2022, 13 : 00 PM [IST]
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Prabhu Gandhikumar
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FMCG industry has been one of the most successful industries around the world. Even in the pandemic, they have proved themselves. The year 2020, saw a decline in supplies around the globe but despite that, FMCG had managed to make sure they cater to the demands of the public.
With their quick selling of low-cost items, everyone involved in this industry could cope up. The general public had another plan too. Due to the pandemic, they were forced to undergo serious behavioural changes.
These changes were induced by pandemics, lockdowns and restrictions in movement. The public needed more convenience as they couldn’t go outside themselves. This behavioural change made the FMCG transform and adapt. To meet the ever-increasing demands of consumers in this country, many FMCG retailers have shifted their focus towards digitisation of their store or inventory.
Top major trends expected in post-covid 'new normal':
1. The public will look for hygienic packing: Fearing contamination via touch, the public is looking for alternatives for hygienic packing. They are not eating at roadside stalls anymore, but are buying the same thing from a retailer or vendor with better hygienic packing. at this current trend, people will be moving towards packed foods compared to the foods being sold in roadside shops.
2. More people, predominantly in A+, A and B segments will go for healthier alternatives. People what to eat healthily and the trend which was seen earlier has fastened since 2020. They want to take care of what goes into their body. For example, people are looking for fruit or vegetable salad rather than their favourite fast food. FMCG industry has taken this into consideration and has proved that they can fulfil this need of the public too. The year 2022, is going to be no different and our industry must be ready for it.
3. The rise of On-the-go food items: Restrictions are not here to stay forever. Sooner or later, travel restrictions are going to be lifted up and people will travel to cope up with isolation. Once the travel starts with a vengeance people will consume on the go packs. This will increase the demand for food items that can be consumed on the go. Juices, snacks, Wraps, yoghurt dips, eggs, trail mix are some of those items. Such items do not just save time but are also portable and handy.
4. Products to cut out kitchen time: Since the work-from-home concept has come into every industry the in-home consumption has risen. The burden of this new habit falls on homemakers of the family, especially mothers. 2022 will see a rise in products that can cut out their kitchen time. People spending time in the kitchen will be lesser and the emerging technologies which make the life easier and will be higher in the coming days.
5. Growth of vending machines: This is true that the more hands that touch the product, the more contaminated it gets. People are looking for no-contact deliveries when ordering online. Every big brand has offered no-contact delivery but what about local stores and societies. To solve their problem and offer real no-contact purchase of items, vending machines are going to grow in every area. People will just have to put in money and take their product first-hand. Vending machines will prove helpful in faceless and no-contact purchases. Everything needs to be at the doorstep of consumers and that too with minimum touch and maximum hygiene.
6. Reduced delivery time of FMCG products: Back in the day, the only pizza got delivered in 30 minutes. But in this post-pandemic ‘new-world’, FMCG products are also being delivered quickly. 10/20 minutes guaranteed delivery is being assured by many delivery companies. The year 2022, will see a rise in companies that can successfully deliver in a shorter time. 10/20 minutes groceries will be widespread, FMCG industries need to get adapted to that.
As per the reports, the FMCG sector in this country stands in fourth place among all the industries. In FMCG, household and personal care products contribute to about 50%. The year 2022, will be the year of new partnerships and larger investment because retailers are now getting their hands on the behavioural changes as well as how to deal with them while adhering to the covid directions by governments.
(The author is co-founder at TABP Snacks and Beverages)
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