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Attracting Consumers To FMEG
The progressive Indian consumer is gravitating towards the fast-moving electric goods (FMEG) sector, with brands also leveraging newer channels and strategies to reach out to them
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The fast-moving electric goods (FMEG) sector, like many others, is witnessing a progressive evolution, driven by smart consumers and globalisation. Consumers today see FMEGs more as a necessity. Their fast-paced and double income life today demands their electrical appliances to do most of their chores for them. Rapid urbanisation as well as an increase in consumers’ buying power have resulted in a surge in demand for products that offer convenience and minimise personal effort such as dishwashers, water microwaves, water heaters etc.
Efforts To Excel
To serve these needs, electric goods brands are working to offer innovative products. Today, they are consciously taking steps to appeal to consumers at an emotional level. Now marketing efforts and emotional appeal have got consumers to recall and resonate with a particular brand more than before. Onboarding brand ambassadors has also seen brands attracting huge crowds. On the flip side, consumers today are intelligent enough and spot a forced brand plug from a mile. Hence, brands today are working to create emotional ties that bring trust and loyalty.
The government’s ‘Make in India’ push has seen a positive sentiment and opened unprecedented avenues. Today, progressive Indian consumers are open and happy to purchase made in India products. Since the products are being tailormade for specific needs consumers are reaping the benefits and companies are going an extra mile to serve customised demand. The highlight of ‘Make in India’ is that products are designed basis consumer demand, as the manufacturing functions are carried out in the country, it becomes viable for brands to invest in R&D and provide customised products. Needless to say, production in India is cost-effective, time-saving, and there is a flexibility factor involved, all of which is mutually beneficial to producers and end-users.
Disruption In Demand
Our lives in the last two years have changed drastically. While traditional advertising on TV will always exist, FMEG brands now are also looking at a digital-first marketing approach. A recent report by Zenith stated that digital advertising will become more crucial to electrical and home appliances brands in years to come. It accounted for 55 per cent of home appliance ad spending in 2020 as compared to 51 per cent in 2019.
With an enhanced consumer sentiments and their dependence on electric appliances, we saw a change in the operations and offerings of many FMEG brands including ourselves. Brands are now increasingly looking at providing the ultimate convenient experience through smart devices to their patrons. Quality products with good aesthetics and attractive designs have been flying off the shelves and companies are now looking at expanding their footprints in Tier 2 and Tier 3 towns. With ecommerce channels witnessing massive growth, supply chain optimisation and consolidation of the traditional sales channels, the FMEG sector is re-evaluating and remodelling the overall channel mix and spending on the same.
It is now expected that the home appliances sector will continue to witness growth and rise in demand. Nesting at home, we all are now looking out for products that make our lives easier.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.