The 21st century way of doing business in India has also changed. Now that era has gone, when only old companies used to rule in the market. Now many companies and startups have stepped into the market. Now the time has come that old companies are also required to learn from new brands. Especially all these things are being seen more in FMCG i.e. fast moving commun sector.
In this sector, now small and local brands, Hindustan Unilever (HUL), Nestle India, ITC and Tata Consumer are giving tough competition to big brands. These brands are not only moving forward due to new ideas and innovation, but they are also understanding the choice of local people in a better way. The funny thing is that big companies are also learning from new and local brands.
In this way small brands moving forward
Suresh Narayanan, managing director of Nestle India, said in an interview that startups and local brands do two big things. First, increase options for customers and second, they teach big companies to become faster and sensible. Today’s new generation is not affected by the names of brands. She sees what the benefit she is getting from that brand. Therefore, if a brand like Maggi Noodles is to remain among the people, then according to the new generation, you have to remain as useful and favorite as it used to be.
Increasing dominance of small brands
Today, many small brands in India such as 1TO3 noodles, Rungta Tea, Balaji Wafres and Mario Biscuits are rapidly snatching market share of big companies. Molding yourself according to the choice of changing customer is the biggest reason for their emergence. In a country like India, national brands find themselves in trouble giving products according to the choice of all regions, but small brands understand their local customers’ choice, taste and traditions and prepare products specially for them.
Low price, better engagement
According to Suresh Narayanan, small brands are also succeeding, because millions of tonnes do not talk about selling goods, but want to sell goods in small areas. Big companies now need to think on small scale and bring rapid changes. Small brands are able to give good products from big companies at cheap prices. Their expenses are also less because they work locally and the supply chain is also small. Because of this, they are able to reduce their prices easily and can also make immediate changes according to the demand of customers.
Benefits of e-commerce and quick delivery
These brands have specially made changes in products such as snacks and drinks according to local tastes and needs. This makes customers feel that these products are more related to their taste and culture, which cannot be found in the same products of big companies. Today’s fast delivery quick commerce services such as Blinkit, bigbasket are proving to be a boon for small brands. Now these small brands are able to reach their products to far-flung areas, where earlier only big companies had access. Through e-commerce websites, these brands are directly reaching customers and leaving the distribution system of big brands behind.