Bengaluru is currently experiencing both literal and metaphorical heat. While the scorching temperatures threaten to cause sunburn, the upcoming Karnataka assembly polls are heating up the political climate. However, both these events have resulted in a common outcome.
The high temperatures, combined with the extensive travel in and out of the city due to election campaigns and rallies, have led to a significant surge in the demand for beer in Bengaluru. With temperatures crossing 45 degrees Celsius in several districts and people attending rallies and events in the heat, there is a greater demand for beer to unwind after long and tiring schedules. Consequently, beer sales have shot up in the capital, and bar owners are ecstatic.
During the financial year 2022-23, the excise department recorded the sale of 390.66 lakh boxes of beer, resulting in an additional revenue of INR 800 crore for the exchequer. This represents a 45% increase in beer production in the state compared to the previous year. The relatively low tax on beer in Karnataka, as compared to other states, has contributed to the rise in beer sales in the region.
Despite the surge in demand, there is a shortage of supply to meet the growing demand for beer. The demand for beer worth INR 10 lakh exceeds the available supply, which is only worth INR 2 lakh. As a result of the supply-demand mismatch, the cost of beer has increased, with reports indicating an additional charge of INR 20 per bottle in Bengaluru.
Bengaluru, a thriving metropolis, has earned a reputation for its vibrant pub scene. The city’s bars are committed to providing patrons with an exceptional experience. The UB Group, which is responsible for producing the popular Indian beer brand, “Kingfisher,” was established by liquor magnate Vijay Mallya and is headquartered in Bengaluru. However, over the past decade, Bengaluru has also established itself as India’s brewing capital, thanks to the introduction of microbreweries. In this time, the city has outshone all competition in terms of its love for beer.
The campaign was launched by the popular host and celebrity Rannvijay Singha, who encouraged viewers to embrace guilt-free snacking and take part in an enjoyable and interactive experience.
Marico, one of the leading FMCG companies in India, has recently unveiled the Indian Crunch League in collaboration with Saffola Munchiez, a range of delicious yet healthy snacks. The objective of this campaign is to take advantage of the current cricket frenzy and engage consumers in an interactive challenge that involves virtually crunching on their crunchiest Ragi Chips.
The Indian Crunch League is set to be led by seven city-based teams, with each team represented by a local celebrity captain. To join and compete for their favorite team, individuals can simply activate the Crunch-O-Meter filter on their smartphones. The primary goal of the contest is to collect as many crunchy Saffola Munchiez Ragi Chips as possible, which will contribute towards both the overall points for their respective cities and individual leaderboards. Those who accumulate the maximum number of Crunch points will be eligible to win Gift Vouchers worth up to INR 25 lakhs.
Saffola Munchiez has joined forces with a range of top-notch celebrities and influencers from around the country to expand the scope of the Indian Crunch League. The campaign was launched by the popular host and celebrity Rannvijay Singha, who encouraged viewers to embrace guilt-free snacking and take part in an enjoyable and interactive experience.
Subsequently, it was revealed that seven captains had been selected to represent various regions throughout the country –
Sanjana Ganeshan for Mumbai Muncherz,
Nikhil Chinapa for Bangalore Crackerz,
Sanyam Sharma for Delhi Chatpataz,
Satyajit Majumdar for Kolkata Cruncherz,
Nikhil Vijayendra Simha for Hyderabadi Crisperz,
Dhanashree Verma for Rajasthani Masaledarz,
Raj Anandkat for Gujarat Gobblerz
Speaking about the challenge, Sanjay Mishra, Chief Operating Officer-India and Chief Executive Officer – New Business, Marico, said, “As a leading player in the snacking category, Saffola has been known to constantly push the envelope when it comes to innovation. This unique gamified experience is a testament of the same. The Indian Crunch League offers a perfect opportunity for snack lovers / enthusiasts to showcase their skills and win exciting prizes. Through this campaign, we aim to build an impeccable brand affinity among our audience and engage with them on regular basis.
We have thoughtfully timed this campaign during the cricket season in the country, as this is when consumers tend to binge on unhealthy snacks. With Saffola Munchiez we want to introduce the concept of conscious indulgence, wherein the consumers can savour one of the crunchiest and tastiest snacks, completely guilt-free.”
In order to expand the campaign’s scope, the brand is preparing to announce its next wave of celebrity Impact Players soon.
As the cricket season unfolds, fans may find themselves in need of something more fulfilling to sustain their excitement. With this campaign, Saffola seeks to connect with consumers by addressing their snacking preferences through its delicious Saffola Munchiez, which are made from crunchy Ragi Chips and Roasted Makhana, perfect for guilt-free indulgence. The campaign is committed to satisfying the country’s snacking cravings in a unique and playful way.
Reliance General Insurance, one of India’s private general insurance companies, declared on Tuesday that it has teamed up with Swiggy, a popular on-demand delivery platform in the country. The purpose of this collaboration is to provide insurance protection tailored to the needs of Swiggy’s delivery partners.
According to a statement released by Reliance General Insurance, the company is offering health insurance, personal accident insurance, and mobile phone insurance coverage to Swiggy’s 300,000 delivery partners across India through Gallagher Insurance Brokers Pvt. Ltd.
“The insurance coverages offered by Reliance General Insurance come loaded with several essential benefits. With the Group Mediclaim policy, Swiggy’s delivery partners can avail OPD treatment, medical hospitalization, maternity cover, and many more benefits as per the eligibility criteria of the master policy,’ the firm said.
As per the statement by Reliance General Insurance, Swiggy’s delivery partners will be covered for accidental death and accidental permanent partial disablement under the group personal accident policy. Moreover, the insured partner will receive a loss of pay benefit while recovering from accidental temporary total disablement.
To ensure that delivery partners are financially protected while carrying out their work, Reliance General Insurance is extending coverage for accidental damage to their mobile phones. This is important since the mobile phone is a vital tool used by the delivery partners throughout their delivery journey.
Excited about the initiative, Anand Singhi, Chief Distribution Officer, Reliance General Insurance, said, “The delivery partners represent India’s fast-growing gig economy. We jointly recognized the need for a robust insurance product for the gig workers and developed just that together. Our insurance coverage ensures gig workers’ financial protection and increases their propensity to avail timely healthcare.”
“Swiggy was one of the first platforms to offer a well-rounded insurance product spanning accident and hospitalization, Covid and other illnesses, maternity cover, paid recovery time-off, and mobile insurance to name a few. To continue these industry-best benefits, we have now partnered with Reliance General Insurance so our partners know that Swiggy will always have their backs,” said Kedar Gokhale, VP of Operations at Swiggy.
Yashesh Sampat, Head – Affinity & Association, Gallagher Insurance Brokers Pvt. Ltd., said, “The aim is to introduce the concept of insurance for delivery partners that will positively impact their lives and support their livelihood. The simplicity of the product and easy access to claims service, the technology platform will help them to experience insurance in the best possible way.”
Varun Beverages stated in an exchange filing that the determination of the record date for the subdivision or split of the current equity shares would be made after securing the aforementioned approval from the company's equity shareholders.
Varun Beverages, one of the leading PepsiCo franchisees, announced on Tuesday that it had achieved a 69% year-on-year (YoY) surge in its consolidated profit after tax, reaching INR 429 crore for the quarter ending on March 31, 2023. This is a significant improvement from the company’s net profit of INR 254 crore in the corresponding quarter of the preceding fiscal year.
During the quarter, the company experienced a 37.8% year-on-year (YoY) growth in its revenue from operations, increasing from INR 2,867.4 crore in March 2022 to INR 3,952.5 crore.
During a meeting, the Board of Directors of Varun Beverages approved the sub-division or split of the company’s existing equity shares. This entails dividing one equity share, which was formerly fully paid-up and had a face value of INR 10 each, into two equity shares with a fully paid-up face value of INR 5 each. However, the implementation of this decision is contingent upon the approval of the company’s equity shareholders.
Varun Beverages stated in an exchange filing that the determination of the record date for the subdivision or split of the current equity shares would be made after securing the aforementioned approval from the company’s equity shareholders.
The company’s total expenses for the March quarter amounted to INR 3,389 crore, representing a 34.8% increase from the INR 2,514 crore incurred during the same quarter of the preceding fiscal year.
The food industry is highly competitive and populated with enough range of products from multiple brands. Startups are leading the charge of product innovation. Yet, launching a new product can be a daunting task for any food startup, but it is essential for growth and survival in the competitive industry. To successfully launch a new product, food startups need to have a well-planned strategy that incorporates various elements of product development, marketing, and sales.
Introducing new products allows food startups to keep up with changing consumer demands and preferences, stay ahead of the competition, increase revenue and profit margins, and expand their customer base. Launching new products also helps food startups to build a strong brand image and establish themselves as innovative players in the market.
Identifying customer needs and preferences is essential for developing products that meet market demand. It involves understanding the target audience, gathering feedback and data, and using insights to inform product development decisions. By doing so, food startups can create products that resonate with customers and increase their chances of success in the competitive market.
Launching new products at a food startup can be challenging and risky. Some of the common challenges that startups face while launching new products in the food industry include:
1. Limited resources: Most startups have limited resources, including funds, staff, and time. Launching a new product requires a significant investment of these resources, and startups must allocate them carefully to maximize the chances of success.
2. Competitive market: The food industry is highly competitive, and startups must compete with established players who have a significant market share and brand recognition.
3. Consumer preferences: Consumer preferences and tastes are constantly evolving, and it can be challenging for startups to keep up with these changes and develop products that meet these demands.
4. Supply chain issues: Startups may face challenges in securing reliable and affordable suppliers, which can impact the quality and availability of their products.
5. Regulatory compliance: The food industry is heavily regulated, and startups must ensure that their products meet all relevant safety, labelling, and other regulations.
6. Brand recognition: Startups often lack the brand recognition and customer loyalty enjoyed by established players. This can make it challenging to generate interest and awareness for new products.
7. Distribution challenges: Startups may struggle to secure distribution channels for their products, making it difficult to reach their target customers.
Addressing these challenges requires careful planning and execution, as well as a deep understanding of the market and consumer preferences. Ultimately, you can jeopardise your product plan for a few challenges without fighting. Hence, it hold a deeper value in understanding the right strategy.
Five strategies for successfully launching a new product
1. Conduct Market Research
Market research is crucial for any food startup looking to launch a new product. It helps to identify market demand, target audience, and competition. Conducting market research involves analyzing consumer behaviour, trends, and preferences, as well as assessing the strengths and weaknesses of your competitors. This information will help you to make informed decisions about product development, pricing, and marketing.
2. Develop a Strong Brand Identity
A strong brand identity is essential for a successful product launch. Your brand identity should communicate your unique value proposition and set your product apart from the competition. Developing a strong brand identity involves creating a compelling brand name, logo, and packaging design that align with your target audience’s preferences. Additionally, it is crucial to create a consistent brand message across all communication channels.
3. Focus on Product Development
Product development is a critical aspect of launching a new product. Your product should meet the needs and preferences of your target audience. The development process involves ideation, prototyping, testing, and refining. It is essential to focus on quality and taste, as well as packaging and labelling, to ensure that your product stands out on the shelves.
4. Develop a Comprehensive Marketing Strategy
Marketing is an essential element of launching a new product. A comprehensive marketing strategy involves identifying your target audience, developing messaging and communication channels, and planning launch events and promotions. The marketing strategy should be tailored to your target audience’s preferences and behaviours, as well as the market trends and competition. Social media platforms, influencer marketing, and email marketing are effective channels for promoting new products.
5. Have a Solid Sales Plan
A solid sales plan is crucial for a successful product launch. It involves identifying distribution channels, developing pricing strategies, and establishing relationships with retailers and distributors. It is essential to have a clear understanding of the sales process and to establish metrics for tracking sales and revenue. Additionally, having a strong sales team can help to build relationships with potential buyers and drive sales growth.
Launching a new product at a food startup requires a well-planned strategy and It’s important to remember that it is a continuous learning process, and startups should be open to feedback and willing to make adjustments as needed to improve their products and meet the evolving needs of their customers.
Pluckk's acquisition of KOOK is a strategic step towards leveraging the immense growth potential of the meal kit industry, and it opens up significant opportunities for Pluckk. (Representative Image)
Pluckk, a fresh food brand that focuses on lifestyle, has made a significant acquisition by purchasing KOOK, an Indian food-tech startup that offers consumers DIY Meal Kits. The acquisition was completed for $1.3 million, paid through a combination of cash and equity.
Founded in July 2021 by Co-founders Pratik Gupta and seed-funded by Exponentia Ventures (EV), Pluckk is a B2C fresh produce food tech supply chain platform. It’s currently operating in Bangalore and Mumbai and is the first digital fresh food brand in the Fruits and Vegetables (F&V) space to prioritize lifestyle.
The platform’s mission is to enable the ‘farm-to-table’ concept by providing end consumers with direct access to a wide range of gourmet fruits and vegetables from farmers without intermediaries. Pluckk has already partnered with over 500 farmers in Mumbai and Bengaluru and plans to expand its reach to 1,000 farmers in the next six months.
KOOK, a DIY Meal Kit Startup founded by ISB Alumni Nikhil and Arpitta in 2020, aims to simplify and streamline the process of at-home cooking. Operating in Delhi and Mumbai, KOOK offers ready-to-cook kits with semi-prepped and pre-portioned ingredients that are freshly sourced, hygienically packed, and free of preservatives. The company’s mission is to make cooking wholesome and high-quality meals less daunting for people. With KOOK’s meal kits, customers can create a perfect meal from start to finish in under 20 minutes, making at-home cooking hassle-free and easy.
Pluckk’s acquisition of KOOK is a strategic step towards leveraging the immense growth potential of the meal kit industry, and it opens up significant opportunities for Pluckk. The global meal kit market is expected to experience a 20% CAGR, growing from $15.21 billion in 2021 to $31.5 billion by 2025. With KOOK’s expertise and a strong customer base in the meal kit market, Pluckk is in an excellent position to provide top-quality fresh food to its customers in this thriving $15 billion market.
Speaking on the acquisition, Nelson D`Souza, CFO,Pluckk, said, “We are thrilled to welcome the young team of KOOK to the Pluckk family. Their demonstrated expertise in building a world-class product in the meal-kit space, coupled with our commitment to provide safe and chemical-free produce, will enable us to offer an unbeatable farm-to-fork experience to customers across India. In the post-Covid world, Ready to CookMeal Kits have emerged as a sought after cooking trend with customers preferring to control the quality of food consumed while having more dining options which we look to leverage by offering this differentiator to our customer experience. Further, from a unit economics point-of-view, this is a welcome addition to our portfolio and will help us accelerate our journey towards building a profitable business.”
KOOK, Co-Founder, Arpitta Jerath said, “We are thrilled to be joining forces with Pluckk and becoming a part of their innovative fresh food ecosystem. The synergies between what we are building at KOOK and the lifestyle first approach that Pluckk brings to the Fruits & Vegetables category seems very compelling. Our range of DIY Meal Kits, combined with Pluckk`s digital lifestyle-oriented brand, will allow us to offer even more convenience and healthy meal options to the discerning customers in the ever-growing markets Pluckk operates in.”
KOOK, Co-Founder, Nikhil Thatai said, “At KOOK, we are committed to making cooking easy and convenient for our customers and we are excited to bring our range of DIY Meal Kits to even more people through our synergies with Pluckk. We estimate the market size of meal kits to be around $1 billion by 2025 in India and we look forward to leveraging our expertise in meal kit delivery to offer healthy and delicious meal options to cater to this booming market in our country.”
Fio Pop intends to expand its product range by introducing additional items such as sandwiches, salads, and mini desserts, as well as offering lively merchandise. (Representative Image)
Fio Pop has launched a fresh range of bakery and retail items named “PICK & POP,” featuring a diverse selection of preservative-free sweet and savory treats made in small batches.
Fio Pop has expanded its menu with a new line of sweet treats that includes the Lotus Biscoff Cheesecake, Medovik Honey Cake, Chocolate & Caramel Cake, and Signature Poppin’ Tiramisu. In addition to these indulgent desserts, Fio Pop also offers a range of confectionery items such as Apple Ginger Jam, Pear Cinnamon Jam, and Almond Biscotti, all made with the finest ingredients and no preservatives.
In addition to the new range of bakery and confectionery items, Fio Pop has recently introduced a selection of celebration cakes and puddings, including tall cakes that can be customized to order. Furthermore, Fio Pop plans to expand its menu further with additional items in the near future.
Fio Pop’s PICK & POP line doesn’t just cater to the sweet tooth, it also features a range of savory options. These include a smoky Texas BBQ sauce, a chili soy-based Asian BBQ sauce, and a sweet and tangy Pop’s Honey Mustard. So whether you’re in the mood for something sweet or savory, Fio Pop has got you covered.
Vanshika Wadhwa, Creative Director, Fio Restaurants, said, “We are thrilled to announce the launch of a small range of bakery, desserts & condiments. At Fio, we have always been committed to bringing together a great experience packed with delicious, high-quality products.”
‘Pick & Pop’ can be ordered for takeaway, dine-in, or delivery via Zomato & Swiggy, subject to availability for certain products.
Fio Pop intends to expand its product range by introducing additional items such as sandwiches, salads, and mini desserts, as well as offering lively merchandise.
The new outlets will serve as a gateway for CSB's distinct tea flavors, including their renowned kulhad tea, to reach an even wider audience. (Representative Image)
Chai Sutta Bar (CSB) has announced the launch of an exclusive women’s store in Mohali, run by franchise owner Deepika. Leaving her job in Chandigarh, Deepika was inspired by a CSB outlet near her office, leading her to start her own store. Situated in Mohali’s Phase 3B2, S.A.S Nagar, the store highlights CSB’s dedication to empowering women by offering them opportunities for growth and development.
In a bid to inspire her team to work hard and advance within the organization, Deepika has exclusively hired women at her CSB store. Despite setting up shop in an area with less-than-optimal sales prospects, her passion for tea and the distinctive CSB experience attracted customers to the store. Consequently, the store is now thriving with activity and has emerged as a go-to destination for tea enthusiasts in the local vicinity.
Speaking on this achievement, Deepika, the franchise owner said, “Opening an all-women outlet of Chai Sutta Bar has been a dream come true. I am proud to empower and inspire women in the tea industry, and I am grateful for the support and guidance from CSB. This is just the beginning of my entrepreneurial journey, and I am excited to continue growing with CSB and making a difference in the community.”
Having joined CSB’s Humans of CSB campaign, Deepika is excited about pursuing her career with the organization. In fact, she has already unveiled her plans to open a second Chai Sutta Bar outlet in Chandigarh.
“Deepika’s success with the all-women outlet in Mohali is a testament to the spirit and determination of women entrepreneurs. It makes me so happy to see her thrive and make a positive impact on society. At Chai Sutta Bar, we believe in providing opportunities for growth and empowerment, and Deepika’s story is a shining example of our vision. We are proud to have her as a part of the CSB family and look forward to her continued success,” said Anubhav Dubey, Co-founder and CEO of Chai Sutta Bar.
One of CSB’s primary goals has been to offer sustainable employment opportunities to communities, and the opening of an all-women outlet is a significant step towards achieving this objective.
To commemorate Disney's 100th anniversary, Tetra Pak has launched its first-ever campaign to reinvigorate dairy categories with Disney and MARVEL-inspired characters. This initiative aims to make Coop products stand out among consumers.
Tetra Pak and The Walt Disney Company have teamed up to add a touch of Disney and MARVEL enchantment to the popular milk drink categories. Coop’s Qualité & Prix brand in Switzerland will showcase 80 designs inspired by Disney and MARVEL on their beverage cartons for ambient white milk, fresh white milk, flavored milk, and protein drinks.
As per the FAO 2022 report, milk and dairy products are essential sources of nourishment for billions of people worldwide, promoting healthy and active lifestyles across all age groups, from young children to older adults. Milk’s nutrient-rich composition makes it the fifth-largest energy provider and the third-biggest protein supplier, significantly improving global nutrition and human health.
To commemorate Disney’s 100th anniversary, Tetra Pak has launched its first-ever campaign to reinvigorate dairy categories with Disney and MARVEL-inspired characters. This initiative aims to make Coop products stand out among consumers.
Marc Becker Floris, General Manager of Consumer Products, Games and Publishing at Walt Disney Company in Europe, says “Together, we are dedicated to creating magical moments that families can enjoy while making smart choices that support their overall health and well-being.”
The beverage cartons will be equipped with a QR code that consumers can use to access engaging and informative content about the health benefits of dairy, while also incorporating the enchanting world of Disney characters to entertain and educate families and children.
Farahnaz Mohsenin, Project Leader for Coop Disney collaboration at Tetra Pak adds, “It’s exciting to see our collaborative approach opening new opportunities for our customers. The campaign includes one of Switzerland’s largest retailers, Coop; Swiss dairy market leaders, Emmi Group and Cremo SA. This is yet another example of the benefits of teaming up with Tetra Pak. We are delighted to see this rollout over the next nine months, coinciding with Disney and Marvel movie release dates for maximum impact.”
“We understand how important dairy beverages are to shoppers and their families. We believe that by offering a wide range of dairy drink options, we can empower families to make healthier choices and create memorable mealtime experiences that support their overall health and wellness. Shoppers will be able to purchase products featuring the designs at Coop stores across Switzerland” concludes Darko Stojanovic, Purchasing Poduct Manager at Coop.
Swiggy, a popular online food delivery platform in India, has reportedly decided to discontinue its premium grocery delivery pilot program called Handpicked. This development has been confirmed by two individuals who are familiar with the matter.
“At Swiggy we’re continuously experimenting with new propositions in line with our vision to enable convenience to consumers,” a Swiggy spokesperson said, while confirming the development.
“Handpicked was being piloted in a few zones in Bengaluru and we have had several positive learnings from it,” the spokesperson added.
According to an individual with knowledge of the matter, Swiggy aimed to create an online version of “Nature’s Basket” through its Handpicked program, which provided premium, gourmet, imported, and niche grocery items. SoftBank, the multinational conglomerate based in Japan, had backed this endeavor.
Swiggy’s Handpicked program offered a diverse selection of products for sale, ranging from Coca Cola’s Cherry Cola (a popular beverage primarily found in the United States) to locally-made Kombucha by startups based in Bengaluru, and Methi Khakhra from Gujarat. Furthermore, the program featured spreads and pre-cooked meat products from various cuisines, such as Italian, German, and Mexican.
Swiggy has decided to continue its grocery sales operations through Instamart and Insanely Good.
At a time when Swiggy is expanding into the grocery delivery and e-commerce sectors, the company is encountering new challenges. Despite this, Swiggy has decided to continue its operations in the grocery delivery space through its Instamart and Insanely Good platforms. In addition to these initiatives, the company recently launched an e-commerce platform called Maxx, which includes categories such as home, pet care, and stationary products. Swiggy had also renamed and rebranded its essential delivery service Supr Daily as Insanely Good earlier.
The company employs a uniform backend infrastructure and operations across all its grocery services.
Swiggy has been implementing cost-cutting measures company-wide, which included laying off around 380 employees and discontinuing its meat delivery service this year. Additionally, the top leadership of the company has undergone some changes, with the head of its quick-commerce business, Karthik Gurumurthy, stepping down and being replaced by Co-founder Phani Kishan. Chief Technology Officer Dale Vaz is also departing from the company.
Madhusudan Rao, the Senior Vice President of Consumer Tech and FinTech (Engineering and Product) at Swiggy, will be taking over from Dale Vaz, who joined the company from Amazon in June 2018.
Swiggy has implemented a platform fee of INR 2 for all orders, including those made by Swiggy One customers who are exempted from delivery charges, in its food delivery business which has not shown significant growth since the pandemic began to subside.
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