Will rural be the next destination & opportunity for brands?
The COVID-19 pandemic has disrupted the entire industry and all brands across several categories are anxiously waiting to revive their brands. The second quarter has just gone with out much happening in manufacturing sector and no sales generated across categories. With relaxation in lockdown companies and brands are chalking out strategy and plan a road map to start reviving the economy. Out-of-the-box thinking and innovative marketing strategy is the need of the hour tore-energise brands and get them back on track. To stimulate demand is the one-point agenda of every brand and there are many marketing pundits and experts who have been talking about rural being the next destination for brands to explore and sow the seed to revive the economy, especially in Tier 2 and 3 towns.
Higher farm income, minimal retail disruption in times of lockdown and migrant workers returning home could possibly drive sales for brands in rural. According to the latest Nielsen’s data the urban market sales were down. In the next 9 months, the FMCG space is expected to grow by 5%, but rural is supposed to expand double that of urban reversing the trend of the past two years when slowing demand in the rural market dragged the entire market down. Most of the FMCG companies are expecting bulk of the demand to come from rural and are very optimistic of the growth in the coming months.
The urban-rural divide is clear in India and COVID-19 has not impacted rural as much as urban. The Unlock 1.0, combined with normal monsoons, have ignited the huge tail wind of rural markets and that’s clearly reflected in the tractor business, the farm busines and the value segment of 2-wheelers. The focus of the govt on rural front has also led to business focus getting recharged for rural to grow and bring in opportunities for business as we explore and unearth the true potential in the rural market.
So, is there a huge opportunity for brands to grow in the rural markets? To get a deeper insight and a better perspective and understanding on this pertinent topic, Adgully has brought together some leading industry experts to share their candid views and decipher the market realities, as well as what brands need to do to explore the rural markets to stimulate demand and revive the economy.
Moderated by Kunal Sinha, ex-Chief Knowledge Officer, Ogilvy, the esteemed speakers include:
Adrian Terron, Head, Customer Centricity, Tata Sons
Dr Sachchidanand Shukla, Chief Economist, Mahindra Group
Prosenjit Datta, Former editor, Business Today & Business World
Do not miss this relevant discussion.
Date: Wednesday, July 1, 2020
Time: 4 pm to 5 pm
There is no registration fee. Prior registration is mandatory.