Summary:

At Hindustan Unilever Limited (HUL) in Mumbai, the research and development team analyzes consumer trends to design retail items that cater to Indian customers' changing tastes. FMCG companies employ a "designing for India" strategy that emphasizes local characteristics. Mr. Vibhav Sanzgiri, Executive Director, highlighted regional differences, pointing out the various blends of Red Label tea available across India, while focusing on health, flavor, wellness, and packaging.

FMCG firms are capitalizing on consumers' willingness to pay extra for distinctive offerings. Colgate-Palmolive launched arginine-based toothpaste to address eating behaviors, while Marico introduced healthier options such as honey and millet under the Saffola brand. According to a survey conducted by Fireside Ventures, urban Indian consumers are prepared to pay up to a 15% premium for various food categories and a 30% premium for healthy snacks. Nestlé India and PepsiCo have also developed products to cater to a wide range of preferences.

Source: IBEF

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