The country’s leading FMCG company Britannia Industries is now making major changes in its strategy to compete with regional brands. The company believes that local companies have become increasingly strong in different states and consumer preferences also vary according to the region. In such a situation, instead of implementing the same strategy in the entire country, the focus will be on product and marketing according to the needs and tastes of each region.
The company’s Managing Director and Chief Executive Officer (MD & CEO) Rakshit Hargave said that regional companies have made a strong hold in many markets. Therefore, Britannia is now adopting a more flexible and region-focused strategy to compete with local competitors.
Products will be according to local taste
According to Rakshit Hargave, in a diverse country like India, the preferences of consumers in every state and region are different. For this reason, the company will now plan its products keeping in mind the local taste, eating habits and needs of the customers. This will help the company to strengthen its presence in small towns and rural markets also.
He said that earlier, where many decisions were taken at the central level, now more powers are being given to regional teams so that they can take decisions quickly as per the demand of the local market.
Company also eyes quick commerce
Britannia believes that quick commerce has become a rapidly growing medium of sales. The company is considering this platform as a big opportunity to deliver new and premium products to customers faster. Keeping in view the changing consumer habits, the company is also increasing investment in digital and online sales channels.
Increased competition from local companies
In the last few years, many regional brands have made their mark in the FMCG sector on the basis of low prices, local flavor and strong distribution network. This has increased competition before big companies. Britannia believes that to maintain its lead in the market, it is not enough to have a strong brand, but it is also necessary to change rapidly as per the needs of each region.
Emphasis on new development strategy
The company says that in the coming times, its focus will be on innovation in products, better distribution network and creating a strong presence in regional markets. Britannia hopes that with a strategy tailored to local needs and a faster decision-making process, the company will not only be able to compete better with regional brands, but will also be successful in increasing its market share across the country.
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