Parle continues to be India's top Fast Moving Consumer Goods (FMCG) brand at home; Britannia leads the ranking for out-of-home consumption
According to the most recent release of Brand Footprint, a yearly ranking of the most popular consumer brands in India by Kantar Worldpanel, Parle, the biscuit brand owned by Parle Products, remains the top fast-moving consumer goods (FMCG) brand in the country. Domestically-based businesses own seven of the top ten brands.
In the Brand Footprint study, brands are ranked according to their consumer reach points, or Consumer Reach Points (CRPs), a metric that combines the penetration of a brand into households and the frequency of purchase. Parle, one of almost 400 brands, has been leading the pack since the debut of its brand footprint eleven years ago, with 7,449 million CRP, followed by dairy brand Britannia, which had 6,691 million CRP. These two brands each saw gains of 9% and 16%. The sole non-food brand in the top five brands was Clinic Plus, a kind of shampoo from Hindustan Unilever.
According to Managing Director (MD)-South Asia, Worldpanel Division at Kantar, Mr. K. Ramakrishnan, consumer choice is the ultimate strength of a brand. Over the years, consumers are making increasing trips for purchases, and that adds to their options and, in turn, their choices. This is reflected in the constant increase in CRP.
Parle Products, which sells brands like Parle G, Monaco, and Melody, crossed the US$ 2 billion revenue threshold in FY22, making it the first packaged food firm in India to do so. The top five brands in the study, which also looked at consumption outside the home, are all related to snacks. With 498 million CRPs, Britannia is in the first place, followed by Haldiram's, Cadbury, Balaji, and Parle.
Mr. K. Ramakrishnan also quoted that it was vital to establish a ranking exclusively for these categories, where there is a major out-of-home component, as purchases for out-of-home consumption are on the rise and seem to have different choice triggers.
Even though they are purchasing slightly less, Indians made 152 grocery store trips in the most recent fiscal year, which is a record. In fact, as rising inflation forces people to cut back on spending, consumers with low incomes make purchases about once every 52 hours or about once every two days. Instead of making outright price increases, most companies have decreased product box sizes, which are currently 20% smaller than they were two years ago.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.