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Did you know the Indian FMCG industry shows a projected CAGR of 27.9% from 2021 to 2027? It shows a potential of reaching nearly US $615.87 billion!
Let’s backtrack a little. What’s FMCG? How does branding come into play when we talk about the FMCG industry? How can any brand design agency India have made a difference to the way the companies in this industry appear to their consumers after a 180-degree rebrand.
The FMCG (Fast-Moving Consumer Goods) industry is characterised by its quick and cheap products ranging from packaged food to cosmetics. These have existed for a while and in the recent decades have been thriving more than ever. With people becoming busier, and home remedies going close to extinct the FMCG industry is what everyone is turning to
Below is a list of signs that you must go for a rebranding to thrive in the competitive FMCG space.
The newer generation of consumers, especially over the last decade, have been drawn to different things. While in the 1990s simple packaging and identical products worked, now, everyone wants something new, which looks aesthetically pleasing, but is packaged in the most functional manner.
A great example of this would be how beauty brands are being “called out” for wasteful packaging or packaging that is not easy to use for consumers. At the same time, inclusive packaging like that of Rare Beauty, the beauty brand built by Selena Gomez, is being applauded.
Even though you can work on your repackaging yourself, you possibly cannot understand the market enough to rebrand correctly for driving sales upwards. But that does not stop consumers from dissecting your brand and forming a perception of it just on the basis of what appeals to them. To understand this a lot better, one usually hires a corporate branding consultant.
They help one analyse their brand positioning and work up the brand perception to drive sales. Because in today’s world driving sales does not just mean good distribution, it means standing out on a shelf with 50 other identical brands.
With the rise in minimalistic branding, another thing that has also risen is the way brands have become identical. It’s necessary to understand that for an FMCG brand to stand out, it’s important that consumers can differentiate between the said brand and 10 others.
Usually, the best way to do this is through fresh packaging and a rebrand that catches the eyes of consumers immediately. According to a study by INSEAD Knowledge up to 76% of Gen Zs are open to trying out brands that give them a unique and fresh experience.
With time, consumer preferences change. For example, Fair and Lovely was once a product that women swore by; however, with the changing phenomenon of perception of beauty, the way the product is perceived has been changed as well.
This in fact, even led the brand to completely rebrand and repackage itself as ‘Glow and Lovely’ showing us how consumer preference really does reflect a brand’s position.
The above example can be used for the same as well. Customer reviews and social media conversations have stirred in such ways in the last couple of years that they tend to reveal brand weaknesses.
This has its good and bad. While lots of brands stay blind to the criticism, a handful decide to take the feedback and turn it into their brand identity, therefore, smartly rebranding themselves. This is something that ‘Glow and Lovely’ did which often stirs the comments and reviews in the favour of the brand.
The market is constantly evolving, and so in such a state, an outdated brand can hinder your market expansion. Usually, with a brand design agency India has, brands can prevent this hindrance. Instead, they can work towards a refreshed brand identity to create a better market appeal.
Something that brands often fail to do is have a consistent brand voice and message that remains with the audience. A brand that has done this really well is Maggie. They have kept their perception and message singular with the idea of the “2-minute noodles” thus, seeping into Indian households with ease.
The visuals of a brand often keep changing depending on what the consumers are preferring. However, this change can only be consistent and productive if the brand design agency Indian brands opt for, understand their design briefs and the needs of the brand itself.
Outdated messaging or visuals does not just affect the physical product but the overall presence of the brand. Let me explain. With the rise in the usage of social media, for marketing, brands have become subjected to saturation. Thus, a brand with weak messaging and visuals can easily get lost in the market.
To avoid this, a fresh and unique approach to branding is often more than a choice. It’s a requirement.
Grofers rebranding as BlinkIt and looking at the growth it has had since then. This is because the founders realised what the brand was and wasn’t and used it to their favour. Understanding the service or product that your brand is selling and how to better sell it is important. Usually, brands hire a corporate branding consultant to make this task simple and easy.
But what makes branding essential for this industry? And how does one know their company needs a rebranding?
The products in the FMCG market are usually identically produced, so for companies to make their products stand out, they require good branding. Now, for brands that are fairly newer, they often have a brand design agency; India-focused, that makes sure their brand aligns with the consumers’ needs. However, with the rapid growth in the industry, it becomes important for the older brands to mold, adapt and adopt new and fresh rebranding.
How can one do this with ease? The best way to do this is by hiring a corporate branding consultant. And when do you know you need to hire one? When you see the signs of a rebrand required for you to stand out.
With hiring the correct corporate branding consultant, a brand can really make a difference in the way it is perceived by the audience, sometimes, even turning it into an overnight sensation.
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