Indian FMCG firms seem to be breaking free of the economic downturn spell. With aggressive product launches by most prominent players in the business, the market is looking up. According to IMRB International Market Researcher, “As many as 140 products entered the FMCG market between January and August 2010, as companies brought out products customised for specific regions and consumer segments.”
FMCG giant, Hindustan Unilever, took the lead with 36 new products and variants in the first eight months of this year. Indian FMCG firm, Dabur, followed suit with 11 new product launches during this period, including Fem Gold Bleach, Odomos Oil, Odonil air fresheners and new variants of Pudin Hara, Hajmola digestives and Vatika shampoo. Sunil Duggal, CEO, Dabur, says, “While the number of launches has gone up sharply, most new products were extensions and variants of existing brands. With consumption going up across specific categories, there’s room for specialised variants — and these are easier and less expensive to launch compared to completely new brands.”
Homegrown players, such as Emami and Marico, also participated aggressively in the market. While Marico introduced Saffola Oats, Emami entered new segments, such as edible oil, baby care products and soaps. “Many of the launches were slated for a few quarters back, but companies had to postpone them due to slowdown. But now, with consumer demand improving, new launches are back on most companies’ agendas,” says Manoj Menon, Group Business Director, IMRB International.
Posted on: 27.10.2010