Tata Consumer will increasingly focus on nutritious products as well as on direct-to-consumer (D2C) brands, as the company looks to be future-ready, MD & CEO Sunil D’Souza said in the company’s FY24 annual report.
Outlining his priorities for FY25, D’Souza said Tata Consumer acquired brands such as Organic India, which includes health supplements, organic products, teas and infusions, to fulfil the company’s nutrition agenda in India and abroad.
“Consumers are increasingly prioritising wholesome, nutritious products that contribute to their overall wellbeing. We recognise this trend as a growth catalyst for us and have aligned our product innovations with our ‘For Better Nutrition’ Sustainability pillar,” D’Souza said.
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He said the company had put in place a “nutrition policy” to provide direction on the expansion of its nutrition portfolio. As such, Tata Consumer has been driving its nutrition agenda through NourishCo, its liquid beverage arm, with products such as Tata Gluco Plus, Tata Copper Plus and Himalayan mineral water. NourishCo has entered segments such as fruit-based drinks (Fruski) and energy drinks (Say Never) as it eyes a `1,000 crore topline in the future. It closed FY24 with revenue of `825 crore, according to its FY24 annual report, a growth of 33% versus the previous year (FY23).
On the D2C front, Tata Consumer has recently launched new products including Tata Tea 1868, Tata Coffee Sonnets, GoFit and Simply Better to cater to the evolving needs of consumers, D’Souza said.
“We are also strengthening our digital marketing efforts and expanding our D2C play, while also emphasising the importance of providing a unified omni-channel experience to ensure consistency across all touchpoints,” he said.
The company has also shifted key brands such as Tata Sampann, which provides a range of food products, on to the digital platform, to tap into the growing online media consumption and shopping behaviour, D’Souza said.
“The rapid rise of the quick-commerce channel, especially amongst urban consumers, is testimony to the shift in consumer shopping behaviour driven by new platforms as well as a need for convenience. We have quickly adapted to the needs of this fast emerging and evolving channel with the creation of specific SKUs across categories,” D’Souza said.
The share of quick commerce in the company’s overall e-commerce channel has grown sharply in the last one year. Tata Consumer derives around 10% of its India business sales from the e-commerce channel. Of this, quick commerce now accounts for 30%, according to the FY24 annual report.
From: financialexpress
Financial News
