Middle India and smaller towns to drive growth of FMCG sector in 2023: Poulomi Roy
The year 2023 has started on a rollercoaster note, with an accelerated adoption of generative AI, AI chatbots, and digital innovations. This is bringing in new operational efficiencies, stronger strategies, a far greater emphasis on building deep bonds with various stakeholders and consumers. In keeping with the current market ecosystem, technology and a human approach are seen as going hand in hand.
As part of our annual TRENDING NOW series, Adgully has been approaching key industry leaders to Crystal Gaze into 2023 to highlight the major trends and developments that they see dominating the industry in the year ahead.
In conversation with Adgully, Poulomi Roy, CMO, RSH Global, speaks about the key digital marketing trends in 2023, further expansion of opportunities in e-commerce channels, strong growth expected from the FMCG sector, her company’s focus on ‘Hello Sun’ range of sunscreen category and face washes in the year ahead, and more.
Key trends dominating Digital Marketing in 2023
The growth of e-commerce channels has exhibited remarkable consistency, following a distinct trajectory from that of traditional offline channels. Furthermore, regional and rural markets have experienced significant growth, contributing to the overall expansion of the e-commerce landscape. In parallel, there is a discernible emphasis on inclusivity among individuals, and organisations are prioritising sustainability, further underscoring the maturation of the e-commerce industry.
As a result, we can expect to see a further expansion of opportunities in these channels in the future. Online marketplaces have become popular channels for FMCG companies to sell their products, with consumers opting for the convenience of online shopping. We, at Joy Personal Care have also set up own e-commerce platforms to directly reach consumers and creating omni-channel experiences that helps to maintain customer loyalty to their brand.
Furthermore, digitisation has enabled with a seamless direction, resulting in a more efficient and effective approach to understand and engage with consumers. With the increasing in digital connectivity and penetration of smartphones, digital marketing has gained prominence.
To prepare for this, it is essential to remain agile and responsive to market conditions, continuing to leverage the benefits of digital transformation to maximise customer satisfaction and business performance.
Major expectations from 2023
The FMCG sector is poised for growth in the year ahead, with several key expectations that are likely to shape the industry’s trajectory. One of the primary expectations is a surge in demand from middle India and smaller towns, which will drive the growth of the sector. Additionally, the significant rise of consumers’ disposable income will lead to higher spending on discretionary products. This increased spending power will also result in the expansion of the customer base for the FMCG industry.
Another key expectation is the deeper penetration of product categories in India. The growing urbanisation and young population along with the presence of modern retail stores and e-commerce platforms have further promoted the penetration of newer category of products in overall India and especially in interior markets of India.
For instance, Joy Personal Care’s recent launch of the sunscreen category has been crafted as per the demand of the consumer and is an indication of the sector’s ability to adapt to evolving products across categories. Moreover, with a growing focus on health and wellness, we are anticipating the introduction of new categories will be well received by consumers, which caters to the changing demands of consumers.
Overall, the FMCG sector is expected to continue its growth trajectory in the coming year, with a strong emphasis on innovation, consumer-centricity, and expanding reach to untapped markets.
Major focus areas for RSH Global in 2023
As we look ahead to the rest of 2023, our company will be placing a significant focus on the newly launched product categories. We are committed to delivering high-quality, effective products that meet the evolving needs of our customers. In particular, we will be emphasising on our ‘Hello Sun’ range of sunscreen category and face washes. We will also focus on new product launches in categories that we are already present.
In addition to our product focus, we will be placing a strong emphasis on data-driven decision-making. Our revenue from online platforms is expected to be close to Rs 55 crore in the current fiscal year. We are targeting to achieve Rs 125 crore from online in next fiscal year.
All-in-all, we are excited about the opportunities that lie ahead for our company in 2023. By focusing on the sunscreen category and observing evolving needs of consumers, tracking activities on our website and social media channels and delivering innovative products, we are well-positioned to achieve our goals.