– By Dr Shilpa Vora
In the fast-paced world of the consumer goods sector, success hinges on understanding what makes consumers tick, what they crave, and what they’ll keep coming back for. And that’s exactly where consumer-centric R&D steps in.
Consumer Focused R&D
Making R&D consumer-centric requires a paradigm shift. Instead of focusing solely on internal goals and technical feasibility, R&D teams need to actively engage with consumers throughout the innovation process. This involves deeply understanding consumer needs and preferences through market research, user testing, and customer surveys to understand first-hand knowledge of their challenges and motivations. By analysing data on purchase habits, preferences, and trends, companies can gain valuable insights that can enable appropriate product formulations, packaging design, marketing strategies, and pricing decisions.
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Consumer preferences in the FMCG landscape are ever-changing, especially among the younger population, urban population and high-income individuals who exhibit a greater propensity for experimenting and brand switching. Companies can stay ahead in the dynamic FMCG market by understanding, anticipating, and incorporating consumer needs and pain points at the product development stage itself.
For instance, ancient grains are making an impressive comeback – and leading this charge are the humble yet mighty Millets, our own SriAnna. These tiny grains have benefitted greatly from the shift in consumer preferences towards healthier and more sustainable food choices in recent years, gaining popularity as a nutritious and eco-friendly alternative to traditional staples.
The Millet Boom: Steered by Government Policies and Powered by R&D
R&D plays a critical role in driving innovation in the FMCG sector. From developing new products and ingredients to improving existing formulations and packaging, R&D helps companies stay ahead of the competition and meet the evolving needs of consumers.
One example of how consumer-centric R&D can lead to success is the rise of millet consumption in India. Millets are grains packed with nutrients and are sustainable to grow. However, for many years, millets were seen as a poor man’s food and were not widely consumed.
In recent years, however, there has been a growing interest in healthy and sustainable foods. This has led to a resurgence in popularity of millets. As 2023 was declared the International Year of Millets, and several government policies were initiated to incentivize millet growth / production and consumption, FMCG companies stepped up. This led to a massive surge of innovations to popularise millets, in varied food formats and tastes such as snacks, breakfast cereals, vermicelli and even pasta.
The success of millet-based products is a testimony to the power of consumer-centric R&D., wherein companies can develop products that are not only beneficial for people but also for the planet.
The Future of FMCG
The millet revolution is an exciting chapter in the ever-evolving saga of FMCG innovation. It’s a testament to the power of consumer-centric R&D, reminding us that the key to success rests on truly understanding and responding to the needs of the hour. By embracing this shift, brands can create products that resonate on a deeper level, driving growth while fostering a healthier and more sustainable journey towards a healthier future.
The journey won’t be easy. It demands continuous learning, in terms of newer technologies, agile adaptation, and a willingness to introduce and embrace unfamiliar flavours and ingredients. But for brands willing to take the leap, the rewards are immense. In this dynamic landscape, consumer-centric R&D fuelled by the millet revolution isn’t just a competitive advantage; it’s the recipe for a thriving future.
(Dr Shilpa Vora is the Chief R&D Officer at Marico Limited.)
(Disclaimer: Views expressed are personal and do not reflect the official position or policy of Financial Express Online. Reproducing this content without permission is prohibited.)
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