Targeting top-end consumers in India
Photo: Clayton Kimpton
Research designed to help New Zealand food & beverage (F&B) companies tailor and market their products to take advantage of India’s top-end consumer segment, has been released by New Zealand Trade & Enterprise.
There are more than one billion people in India with the super-wealthy becoming more affluent by the day; spending amongst top-end Indian consumers is expected to more than double by 2025.
“India is a diverse and complex market and our observation is that many New Zealand companies rely on trial and error to reach consumers. Often they rely on the advice of distributors and agents who may not understand how to market a premium product,” says Clayton Kimpton, NZTE’s Regional Director for India, Middle East and Africa.
“This research will help New Zealand F&B companies understand the consumer market in India, especially the buying behaviour of the wealthy consumer segment, which is paramount for companies to successfully break into the market.”
The research reveals that only two percent of weekly food shopping is carried out in a supermarket, which means New Zealand F&B companies need strong distribution partners in India to supply street vendors and small convenience stores.
Smaller, trial packages are popular among Indian consumers, as are food and beverage products designed for special occasions and major celebrations, such as Diwali.
New Zealand enjoys strong brand recognition in India but is not seen as an exporter of premium food. According to the research, stronger country of origin association will raise the brand profile of New Zealand products in India.
India is New Zealand’s tenth largest trading partner with two-way trade totalling $1.9 billion in the year to June 2015.
The research was completed in October 2015. For more information and a copy of the full report, see here.