In the latest edition of the Brand Footprint report, a yearly assessment of India’s favorite consumer brands conducted by Kantar Worldpanel, Parle, the renowned biscuit brand under Parle Products, continues to reign supreme as the top fast-moving consumer goods (FMCG) brand within the nation. Impressively, a majority of the top ten brands are owned by domestic enterprises, signifying their strong foothold in the market.
The evaluation in the Brand Footprint analysis is based on Consumer Reach Points (CRPs), a pivotal metric that amalgamates a brand’s household penetration and purchase frequency. Parle, among nearly 400 competing brands, has retained its leading position since the inception of the Brand Footprint survey eleven years ago, boasting a remarkable 7,449 million CRPs. In a similar stride, Britannia, a renowned dairy brand, secured the second spot with 6,691 million CRPs, showcasing notable growth rates of 9% and 16% respectively. Interestingly, breaking the food trend, Clinic Plus, a shampoo variant by Hindustan Unilever, solidified its presence in the top five.
K. Ramakrishnan, the Managing Director (MD) of the Worldpanel Division at Kantar for South Asia, emphasized that a brand’s strength is rooted in consumer preference. The evolving consumer behavior, characterized by an upsurge in shopping trips, has enriched their array of options and choices, mirroring the continuous elevation in CRPs.
Parle Products, the proud purveyor of beloved brands like Parle G, Monaco, and Melody, achieved a significant milestone by crossing the US$ 2 billion revenue mark in FY22. This accomplishment positions it as the pioneering packaged food company in India to attain such a feat. A fascinating highlight from the study is the domination of snacks-related brands within the top five, a trend consistent both at home and outside.
The study also delved into consumption patterns beyond the confines of home, where Britannia emerged as the leader with 498 million CRPs, closely trailed by Haldiram’s, Cadbury, Balaji, and Parle. K. Ramakrishnan asserted the necessity of establishing a specialized ranking for these categories, particularly those with a substantial out-of-home element. The surge in out-of-home purchases underscores the presence of distinct choice triggers in this context.
Despite a marginal dip in purchases, Indian consumers remarkably recorded an impressive 152 grocery store visits during the recent fiscal year, setting a new record. As inflation exerts its influence on expenditure habits, individuals with limited incomes are inclined to make purchases approximately once every 52 hours, or roughly every two days. In response to these changing dynamics, companies have opted to maintain prices while reducing the size of product packaging by about 20% compared to two years ago.
In summary, the Brand Footprint report by Kantar Worldpanel underlines Parle’s unrelenting dominance in India’s FMCG sector, supported by impressive CRPs. This robust performance is mirrored by Britannia’s lead in out-of-home consumption, reflecting evolving consumer preferences. As India’s consumer landscape evolves, understanding and catering to these nuanced choices are pivotal for sustained brand success.