Heineken bets big on sustainable brewing with €430M investment in Mexico

News

September 19, 2023

Heineken Mexico is set to inject €430 million into the construction of a new brewery in Yucatán, with the goal of promoting sustainable brewing methods and nurturing local community development.

The construction is slated for the Kanasín municipality, representing the company’s first-ever brewery in southeastern Mexico.

Heineken has announced that the new brewery will feature cutting-edge technology and is geared towards meeting the rising demand in the southeast region, leveraging the area’s strong road, rail, and port infrastructure.

In alignment with the company’s worldwide sustainability strategy, the brewery will incorporate circular economy principles to facilitate water reuse via advanced treatment systems. Furthermore, the new brewery is designed to minimize waste generation and harness renewable energy sources through state-of-the-art processes, equipment, and technology.

At present, Heineken Mexico has a workforce of more than 18,000 individuals and manages operations spanning seven breweries along with a single malting plant in Mexico.

The Yucatán-based Kanasín brewery is projected to generate over 2,000 direct and indirect employment opportunities. It is slated to begin operations in 2026, producing popular brands like Tecate, Dos Equis, Indio, Bohemia, Amstel Ultra, and Sol.

Guillaume Duverdier, managing director of Heineken Mexico, said, “We take pride in being a part of Mexico’s history and in connecting with our customers and consumers in Yucatán and the southeast, all while safeguarding the environment and the welfare of our people”.

Raquel Buenrostro, Mexico’s Secretary of Economy, characterized Heineken’s investment as an indication of the “confidence and positive economic environment” that Mexico provides for potential investments.

She added, “The Mexican southeast region is experiencing a moment of unparalleled growth, enriched by competitive advantages, such as the development of infrastructure, connectivity and the commitment to fostering well-being through sustainable progress as well as shared prosperity.”

Reliance Retail ventures into beauty and personal care with Tira, targets 100 locations nationwide

News

SnackTeam

September 19, 2023

Reliance Retail Ltd. has entered the competitive $27 billion beauty and personal care market in India with the launch of Tira, its omnichannel beauty platform, intensifying the competition in this rapidly expanding sector.

The Tira app and website, offering specialized categories such as makeup, skincare, haircare, fragrance, bathing, wellness, and men’s beauty products, are now accessible to customers, as announced in the company’s statement on Wednesday. In addition to this, India’s leading retailer has inaugurated Tira’s flagship store in Mumbai.

“With Tira, we aim to break down barriers in the beauty space and democratise beauty for consumers across segments,” said Isha Ambani, executive director of Reliance Retail Ventures Ltd., the holding company of Reliance Retail. “Our vision is to be the leading beauty destination for accessible yet aspirational beauty, one that is inclusive, and one that harbours the mission of becoming the most loved beauty retailer in India.”

According to sources requesting anonymity, Reliance Retail intends to expand Tira stores nationwide, aiming for at least 100 locations in the coming months.

This move places Reliance Industries Ltd., with its diverse portfolio spanning grocery, fashion, electronics, footwear, medicines, and home goods, in direct competition with Sephora by LVMH, as well as local competitors like Nykaa (FSN E-Commerce Ventures Ltd.), Myntra Designs Pvt., Shoppers Stop Ltd., and even the Tata Group.

Reliance Retail presently offers beauty and personal care items through its extensive network of department store chains and the JioMart platform. With the specialized platform, the company aims to cater to consumers across various price ranges, offering both affordable lipsticks and premium skincare products.

Tira’s online platform displays interactive videos that allow for shopping, blogs, tutorials, trendsetting tips, personalized recommendations, and a virtual try-on feature.

According to the company, the platform will offer consumers the broadest selection of color cosmetics for virtual try-ons in the convenience of their homes.

“An omnichannel retail concept powered by technology and customised experiences, Tira offers a curated assortment of the best global and homegrown brands, making it the go-to destination for all things beauty,” the company said.

Covering an area of 4,300 square feet, the Tira store located at Jio World Drive in Bandra Kurla Complex has been meticulously crafted by Dalziel and Pow, an innovation studio headquartered in London. This renowned studio has previously crafted design concepts for diverse industries, including well-known names like Marks and Spencer, Etude House, Toyota, and Volkswagen.

As per the company’s statement, Tira is set to become the inaugural specialty beauty retailer in India to introduce the “fragrance finder,” a distinctive feature designed to assist consumers in discovering fragrances that align closely with their preferences.

Companies like Nykaa, Shoppers Stop, and Tata Cliq Palette are also gearing up to extend their physical store presence in order to promote their beauty brands, as offline demand gradually returns to pre-Covid levels.

During the post-earnings call following the December quarter results, Nykaa’s Founder and Chief Executive Officer, Falguni Nayar, announced the company’s intention to expand its store count from the existing 141 to an additional 50 in 2023.

“Even though physical retail accounts for less than 10% of our revenue, there’s opportunity for growth in general trade and modern trade. The demand for beauty is very strong. It is one of the top three categories—along with footwear and sports goods—in malls all over India,” she had said.

According to a report by Avendus Capital, the online personal care and beauty market in the country is expected to reach $4.4 billion by 2025. The report also predicts a significant surge in the number of online beauty and personal care shoppers, with an estimated increase of more than fourfold, from 25 million in FY20 to 110 million in FY25.

FSSAI launches nationwide survey of milk and milk products in 766 districts, report due by December

News

SnackTeam

September 19, 2023

According to an official from India’s top food regulatory body, the Food Safety and Standards Authority of India (FSSAI) has initiated a comprehensive nationwide monitoring program for milk and milk products this month. This effort aims to combat the adulteration of these products. The surveillance initiative will remain in effect until October, with the FSSAI planning to present its findings to the health ministry by December, as stated by FSSAI Advisor (Quality Assurance) Satyen K Panda.

“The surveillance survey will cover 766 districts across the country and over 10,000 samples will be collected during the exercise. Two agencies have been engaged for the purpose,” he told PTI.

Panda stated that the survey for FSSAI will be carried out by the Quality Council of India, which operates independently under the Ministry of Commerce and Industry, in collaboration with the National Dairy Development Board.

“The scope for the survey includes milk, khoa, chenna, paneer, ghee, butter, curd, and ice cream. The test parameters are adulterants, normal quality and compositional parameters, contaminants, antibiotic residues and microbiological indicators,” he said.

The study was instigated to evaluate the adherence of milk and milk products available in the country to Food Safety and Standards Regulations, while also pinpointing areas with a heightened risk of adulteration.

Panda mentioned that one of the aims of the survey is to formulate strategies for corrective actions.

He explained that the reason for selecting milk is its essential role in the country’s food culture, whether consumed as a fresh liquid or utilized as a processed dairy product.

“We are hopeful of submitting a report on the findings of the survey to the health ministry by December,” Panda said.

Since 2011, the regulatory authority has carried out a total of five surveys focusing on milk and dairy products.

In 2022, the FSSAI conducted a milk survey in 12 states, encompassing 10 regions where Lumpy Skin Disease (LSD) was widespread.

Additionally, the FSSAI conducted the PAN India Milk Products Survey in 2020 with the objective of gaining a comprehensive understanding of the safety and quality of milk products available in the market during festive seasons.

For the 2020 study, a total of 2,801 milk product samples were gathered from both organized and unorganized sectors, spanning 542 districts across the nation.

These products underwent comprehensive testing for all quality and safety parameters, encompassing assessments for pesticide residues, heavy metals, crop contaminants, and melamine.

Cracking the Code: Understanding the Psychology Behind Consumer Behavior

Business

SnackTeam

September 19, 2023

In the ever-evolving landscape of marketing and commerce, understanding consumer behavior is akin to deciphering a complex code. It is a multifaceted puzzle influenced by a myriad of psychological factors. To succeed in the modern marketplace, businesses must go beyond traditional market research and delve deep into the psychology behind consumer choices. This article explores the key elements that make up the psychology of consumer behavior, shedding light on how businesses can crack this intricate code to better connect with their target audience.

1. The Power of Perception

Consumer behavior is deeply intertwined with perception. How consumers perceive a product, brand, or service can significantly impact their buying decisions. Marketers must understand that perception is not an absolute truth but a subjective reality shaped by individual experiences, biases, and cultural influences.

2. The Role of Emotions

Emotions play a pivotal role in consumer decision-making. People tend to make purchases based on how a product or service makes them feel. Positive emotions like happiness, excitement, and trust can drive purchase decisions, while negative emotions like fear, anxiety, or skepticism can deter consumers.

3. The Influence of Social Proof

Consumers often look to others for guidance. The phenomenon known as “social proof” suggests that people are more likely to adopt a behavior or make a purchase if they see others doing the same. This is why testimonials, reviews, and endorsements hold such sway in consumer decision-making.

4. Cognitive Biases and Heuristics

Human brains are wired to use mental shortcuts, known as heuristics, to make decisions efficiently. However, these shortcuts can lead to cognitive biases, such as confirmation bias (favoring information that confirms existing beliefs) and anchoring bias (relying heavily on the first piece of information encountered). Recognizing these biases is crucial for marketers to navigate consumer psychology effectively.

5. The Impact of Scarcity and Urgency

Creating a sense of scarcity or urgency can drive consumer action. Limited-time offers, low-stock notifications, and exclusive access can trigger a fear of missing out (FOMO) and prompt immediate purchasing decisions.

6. The Endowment Effect

The endowment effect suggests that people tend to overvalue items they own, leading to a resistance to parting with possessions. Understanding this psychological bias can help businesses frame their offers and negotiations more effectively.

7. The Quest for Value

Consumers seek value in their purchases. This value goes beyond the price-to-product ratio and encompasses factors like convenience, quality, customer service, and brand reputation. Businesses that offer superior value tend to win customer loyalty.

8. The Importance of Trust

Trust is a cornerstone of consumer behavior. Consumers are more likely to choose a brand or product they trust, even if it comes at a slightly higher cost. Building and maintaining trust requires consistency, transparency, and ethical business practices.

9. The Decision-Making Process

Consumer decision-making typically follows a process: problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase evaluation. Understanding where your consumers are in this journey allows you to tailor your marketing efforts accordingly.

10. The Personalization Imperative

In the age of data analytics and AI, personalization has become paramount. Consumers expect tailored experiences and recommendations. Leveraging data to provide relevant and personalized content can significantly influence their behavior.

Cracking the code of consumer behavior is a multifaceted endeavor that blends psychology, sociology, and marketing strategy. Successful businesses recognize that understanding the intricate interplay of perception, emotions, biases, and societal influences is crucial for creating effective marketing campaigns and building lasting customer relationships. By embracing the psychology behind consumer behavior, businesses can decode the puzzle and make informed decisions that resonate with their target audience, ultimately driving success and growth.

Navigating the Omni-Channel Maze: Unleashing Seamless Marketing Strategies for Success

Business

SnackTeam

September 19, 2023

Omni-channel marketing has developed as a game-changing technique in the dynamic terrain of modern business, as consumers move effortlessly between online and physical channels. This strategy enables organizations to communicate with their customers across several touchpoints, resulting in a consistent and personalized experience. However, navigating the omni-channel maze is no easy task.

Understanding Omni-Channel Marketing

Omni-channel marketing is a strategy that integrates all available marketing channels to create a unified and cohesive customer experience. It recognizes that consumers may interact with a brand through various touchpoints, such as a physical store, website, mobile app, social media, email, or customer service. The goal is to provide a consistent, personalized, and relevant experience at every interaction, regardless of the channel.

The Importance of Omni-Channel Marketing

Today’s consumers expect a seamless experience as they switch between different channels during their buyer’s journey. A disjointed or inconsistent experience can lead to frustration and a lost sale. Omni-channel marketing addresses this challenge by aligning the brand’s message, design, and customer service across all touchpoints.

Strategies for Omni-Channel Success

Customer-Centric Approach: Start by understanding your customers’ preferences and behaviors across various channels. Collect data to create customer personas and segment your audience based on their preferences. This information will guide your omni-channel strategy.

Consistent Branding: Maintain a cohesive brand identity, including messaging, design elements, and tone of voice, across all channels. This consistency builds brand trust and recognition.

Cross-Channel Integration: Ensure seamless integration between channels. For instance, allow customers to start an online purchase and complete it in-store or vice versa. Cross-channel integration extends to customer data, ensuring that insights are shared and leveraged across all touchpoints.

Personalization: Leverage customer data to deliver personalized experiences. Use purchase history, browsing behavior, and demographic information to tailor content and recommendations to each individual.

Mobile Optimization: With the rise of mobile device usage, optimizing your omni-channel strategy for mobile is crucial. Ensure that your website and apps are mobile-friendly, and consider mobile-specific campaigns.

Data Analytics: Implement robust data analytics to track customer interactions and preferences across channels. This data-driven approach allows for continuous optimization of your omni-channel strategy.

Seamless Customer Service: Provide consistent and excellent customer service across all touchpoints. Ensure that customers receive the same level of support whether they contact you via social media, email, phone, or in-person.

Real-Time Engagement: Use real-time marketing automation tools to engage with customers when they are most active or when they show intent to purchase. This can include cart abandonment emails, targeted ads, or personalized recommendations.

Feedback Loops: Create feedback loops to gather customer insights and adapt your strategy accordingly. Encourage customers to provide feedback through surveys, reviews, and social media.

Continuous Improvement: Omni-channel marketing is an ongoing process. Continuously analyze data, monitor the effectiveness of your strategies, and adapt to changing customer preferences and market trends.

In a world where consumers seamlessly move between online and offline channels, businesses must master the omni-channel maze to thrive. Omni-channel marketing is not just a strategy; it’s a customer-centric approach that ensures a seamless, personalized, and consistent experience across all touchpoints. By implementing the strategies mentioned above and staying agile in response to evolving customer behaviors, businesses can navigate the omni-channel maze and unlock the potential for sustainable growth and customer loyalty.

Augmented Reality Revolution: Igniting Business Growth Through Immersive Experiences

Business

SnackTeam

September 19, 2023

As technology continues to evolve at an unprecedented pace, businesses are constantly seeking innovative ways to captivate consumers and drive growth. Enter augmented reality (AR), a revolutionary technology that blends the virtual world with the real one. AR is transforming the way businesses interact with their audiences, offering immersive experiences that go beyond traditional marketing strategies.

Understanding Augmented Reality

Augmented reality superimposes digital content, such as images, videos, or 3D models, onto the real-world environment, creating a blended experience that users can interact with in real time. Unlike virtual reality (VR), which immerses users entirely in a digital environment, AR enhances the real world with digital elements.

Enhanced Customer Engagement

One of the most significant advantages of AR is its ability to boost customer engagement. Businesses can create AR experiences that allow consumers to interact with products or services in novel ways. For example, customers can virtually try on clothing, see how furniture fits in their homes, or explore a destination before booking a trip.

Personalized Marketing

AR enables businesses to offer personalized marketing experiences. Through AR apps, marketers can tailor content and offers based on a user’s location, preferences, and behaviors. This level of personalization enhances customer satisfaction and drives sales.

Immersive Advertising

AR advertisements are more memorable and engaging than traditional ones. Brands can use AR to create interactive ads that capture viewers’ attention and encourage them to interact with the content. This leads to higher click-through rates and increased brand awareness.

Retail Revolution

The retail industry is experiencing a significant transformation with the integration of AR. Virtual try-on experiences, interactive product showcases, and in-store navigation apps are changing the way customers shop. Businesses that embrace AR in retail are not only differentiating themselves but also driving sales growth.

Enhanced Product Visualization

AR allows customers to visualize products before purchasing, reducing the uncertainty associated with online shopping. Whether it’s previewing a car’s features, trying out makeup virtually, or seeing how furniture fits in a room, AR empowers consumers to make informed decisions.

Training and Education

Businesses are also leveraging AR for employee training and customer education. Interactive AR tutorials and simulations can help employees acquire new skills, while educational AR apps make learning engaging and immersive.

Event Marketing and Experiences

Augmented reality is enhancing event marketing and live experiences. AR apps at conferences, concerts, or trade shows can provide attendees with valuable information, interactive maps, and real-time updates, improving the overall event experience.

Measurable Analytics

AR campaigns offer measurable data and analytics. Businesses can track user interactions, engagement levels, and conversion rates, enabling them to refine their strategies for optimal results.

Future Opportunities

The potential applications of AR in business are limitless. From healthcare to real estate, manufacturing to entertainment, AR is set to revolutionize various industries. Businesses that embrace this technology early gain a competitive edge and position themselves for future success.

The augmented reality revolution is not just a trend; it’s a fundamental shift in the way businesses engage with customers and drive growth. AR offers immersive and interactive experiences that captivate audiences, enhance brand loyalty, and boost sales. As this technology continues to evolve, businesses that leverage AR are well-positioned to stay ahead in a rapidly changing digital landscape. The era of augmented reality is here, and it’s igniting a new chapter in the story of business growth.

Lights, Camera, Brand Action: How Video Marketing Ignites Business Growth

Business

SnackTeam

September 19, 2023

Video marketing has evolved as a powerful tool to engage consumers and propel business growth in the fast-paced world of digital marketing, where attention spans are transient and competition is severe. The strength of video resides not just in its capacity to communicate complicated concepts in an appealing manner, but also in its ability to form long-lasting emotional relationships with viewers.

Visual Storytelling Captivates Audiences

Humans are inherently drawn to stories, and video is an exceptional medium for storytelling. It allows businesses to craft narratives that resonate with their target audience, forging a connection that goes beyond words and static images. With video, you can bring your brand’s story to life, making it more relatable and memorable.

Enhanced Engagement and Recall

Video content has the unique ability to capture and retain viewers’ attention more effectively than text or images alone. Studies have shown that people are more likely to remember information presented in video format. This increased engagement and recall can boost brand awareness and drive customer retention.

Diverse Content Types

Video marketing offers a diverse range of content types to suit various objectives and platforms. Explainer videos simplify complex ideas, product demos showcase functionality, and testimonials build trust. Live streaming and behind-the-scenes content provide a real-time connection with your audience.

Social Media Amplification

Social media platforms, such as Facebook, Instagram, and TikTok, prioritize video content in their algorithms. Sharing videos on these platforms can significantly expand your reach and engagement. Moreover, social videos tend to be more shareable, increasing the likelihood of your content going viral.

Improved SEO Ranking

Video content can boost your website’s search engine ranking. Google and other search engines consider user engagement metrics, such as time spent on a page, when determining search results. Engaging video content keeps visitors on your site longer, signaling to search engines that your content is valuable.

Mobile-Friendly Accessibility

With the rise in mobile device usage, video marketing caters to an audience on the go. Mobile users find videos more convenient and engaging than reading lengthy text on small screens. Ensuring your content is mobile-friendly can tap into this growing segment of the population.

Measurable ROI

Video marketing offers the advantage of measurable results. You can track metrics like views, click-through rates, engagement, and conversion rates. These metrics provide insights into the effectiveness of your video campaigns, allowing you to refine your strategy for better ROI.

Builds Trust and Authority

Video content allows your brand to showcase expertise and authenticity. Hosting webinars, interviews with industry experts, or informative tutorials can position your business as a trusted authority in your niche. Trust, once established, can lead to increased customer loyalty.

Personalized Messaging

Video marketing enables personalized communication with your audience. Personalized videos, tailored to specific customer segments, can deliver more relevant and compelling messages. Personalization builds a deeper connection and increases the likelihood of conversion.

In a digital landscape saturated with content, video marketing stands out as a dynamic and compelling way to connect with your audience, drive engagement, and ignite business growth. By leveraging the power of visual storytelling, embracing diverse content types, and harnessing the reach of social media, businesses can tap into the immense potential of video marketing. In an era where the competition for attention is fierce, lights, camera, and brand action through video can set your business on a path to success and lasting customer relationships.

Beyond Vanity Metrics: Measuring the True Impact of Your Business’s Social Media Strategy

Business

SnackTeam

September 19, 2023

Businesses now must navigate a dynamic world of social media channels, each with its own audience, content style, and engagement conventions. A one-size-fits-all strategy for social media marketing is no longer adequate. To fully flourish, you must first understand the peculiarities of each platform and then customise your plan appropriately. In this post, we’ll look at how to create platform-specific tactics that can help your business thrive across many social media channels.

Define Your Objectives

The first step in measuring the true impact of your social media strategy is to establish clear objectives. Are you aiming to increase brand awareness, drive website traffic, boost sales, or enhance customer engagement? Each objective requires a tailored set of metrics to evaluate success accurately.

Audience Engagement and Interaction

One of the most valuable indicators of social media success is audience engagement. Look at metrics like comments, shares, and direct messages. High levels of engagement suggest that your content resonates with your audience and encourages meaningful interactions.

Conversion Rates

Ultimately, your social media efforts should lead to conversions, whether that means sign-ups, downloads, purchases, or other desired actions. Track conversion rates to measure the impact of your strategy on driving real business results.

Click-Through Rates (CTR)

CTR measures the percentage of people who clicked on a link you shared on social media. This metric is crucial for assessing the effectiveness of your content in driving traffic to your website or landing pages. It provides a clear picture of your content’s ability to move users from social platforms to your owned properties.

Return on Investment (ROI)

Determining the ROI of your social media efforts involves comparing the revenue generated from social media activities against the costs incurred. While it can be challenging to attribute revenue directly to social media, tracking conversions and customer acquisition costs can help estimate ROI.

Customer Lifetime Value (CLV)

For businesses with a long-term perspective, CLV is a critical metric. It assesses the total revenue generated by a customer throughout their relationship with your business. Social media can contribute to CLV by nurturing customer relationships and fostering loyalty.

Sentiment Analysis

Monitoring sentiment around your brand on social media can provide insights into how your audience perceives your business. Positive sentiment can indicate successful brand building, while negative sentiment may signal areas that need improvement.

Customer Feedback and Reviews

Pay attention to customer feedback and reviews shared on social media. These candid insights can highlight areas for improvement and showcase your responsiveness and commitment to customer satisfaction.

Content Reach and Impressions

Personalization into Your Social Media Marketing

While not vanity metrics in themselves, reach and impressions can be valuable when interpreted alongside engagement metrics. A high reach indicates that your content is reaching a broad audience, but if engagement is low, it may be a sign to refine your content strategy.

Benchmark Against Competitors

To gain a broader perspective, benchmark your social media metrics against your competitors. Understanding how you stack up in your industry can offer valuable insights and guide your strategy adjustments.

In the world of social media marketing, the true impact of your efforts extends far beyond vanity metrics. While likes and followers may stroke your ego, they often fail to provide a clear picture of your business’s social media success. Instead, focus on metrics that directly align with your objectives, such as engagement, conversions, CTR, ROI, and customer feedback. By measuring the true impact of your social media strategy, you can make informed decisions, refine your approach, and drive tangible business results in the competitive and ever-evolving digital landscape.

Culinary maestro Suvir Saran joins Bastian Hospitality as new Culinary Director

News

SnackTeam

September 18, 2023

Bastian Hospitality Private Limited (BHPL), the company responsible for iconic eateries such as Bastian and Bizza, has officially named Suvir Saran as its new Culinary Director.

Suvir Saran, a renowned culinary expert originally from New Delhi, has authored three cookbooks: “Indian Home Cooking,” “American Masala,” “Masala Farm,” and his latest release, “Instamatic,” a blend of prose and captivating photos. His culinary expertise extends to creating, curating, and designing F&B concepts, menus, catering for events, and participating in culinary conferences worldwide. Saran gained widespread recognition as the standout talent during the third season of Top Chef Masters and holds a unique position as the sole chef on the Nutrition Advisory Board at Brigham & Women’s Hospital affiliated with Harvard Medical School. Saran passionately champions the flavors of Indian homes and diverse regional cuisines, emphasizing both deliciousness and nutritional value.

Saran’s pioneering achievement was the establishment of Devi in Manhattan, marking the inaugural Michelin Star among 18 restaurants in North America when the Michelin Guide made its debut on the continent. Devi further distinguished itself by becoming the first non-Northern European and Indian restaurant in North America to be awarded a prestigious Michelin Star. In addition to Devi, Saran also owned and operated Tapestry in Greenwich Village, Manhattan, though he regrettably had to shutter the restaurant due to medical reasons, which prompted his return to India for healing.

Saran’s culinary creations and written works have graced the pages of numerous national and international newspapers and magazines. His engaging and self-deprecating style of conveying profound insights and emotionally stirring tales has endeared him to audiences as a charismatic public speaker. He has captivated audiences at a wide range of events worldwide, from grand food festivals and tech forums to literary gatherings, and even within the esteemed halls of academia.

Frequently employing food as a unifying force to connect people from diverse backgrounds, Saran’s extensive interactions with individuals from around the globe have equipped him with a remarkable comfort in settings characterized by rich diversity. At BHPL, his primary focus will be elevating an already well-established local F&B brand to greater heights as BHPL expands its presence across India. Collaborating closely with BHPL’s senior leadership, Chef Saran will also contribute his distinct insights into the global F&B industry and actively participate in shaping the strategy for international expansion.

“BHPL has always attracted the finest talent from around the world, which is what has helped us grow into one of the country’s most respected and exciting F&B brands,” says Ranjit Bindra, Founder and CEO, BHPL. “With Suvir joining to steer the culinary direction of the company, I am confident that we will make significant progress that will only help to further cement our reputation, not just in India but also abroad. We are excited for everything that is yet to come.”

“I have been following BHPL’s trajectory since its inception and I’m delighted to be joining a hospitality company that is so forward-thinking, committed to quality and strategic growth. I am pleased to be associated with a brand that is not only focused on expansion, but is serious about creating memorable experiences that result in a loyal customer base that keeps coming back for more,” says Saran.

ONDC raises incentives for food and beverage orders on Asia Cup 2023 final day

News

SnackTeam

September 18, 2023

The Open Network for Digital Commerce (ONDC) announced a significant incentive boost for buyer-side apps on September 17th. This development coincided with the final day of the Asia Cup 2023, during which India defeated Sri Lanka, as revealed in a notification sent to network participants by the government-backed ONDC.

The ONDC raised the incentive level for food and beverage purchases from INR 50 per order to INR 100 for those exceeding INR 200. In their letter to network participants, ONDC specified that this higher incentive rate would be applicable for only one day, allowing for A/B testing of customer responses.

In the world of business, A/B testing is a technique in which various app or website visitors are exposed to two or more different products or campaigns. This approach is used to evaluate which one of them performs more effectively.

“Any big cricket match day is a good time to test out various marketing campaigns and see what sticks better. Weekends are typically significantly higher volume affairs and the final game means there would be even more orders,” said a food aggregator executive who didn’t want to be named.

Nevertheless, it remains uncertain to what extent there was an increased demand for food orders on September 17. Since the cricket match concluded prematurely due to a subpar batting performance by Sri Lanka, it is possible that ONDC participants were unable to attract as many consumers as originally anticipated.

Earlier this month, ONDC made significant changes to its incentive scheme, introducing greater flexibility for buyer-side apps in distributing discounts to consumers. This included a reduction of the average subsidies for food orders by 50%, bringing them down to INR 50 per order. Additionally, ONDC implemented measures to increase the concentration of merchants on the network in 45 non-metro districts.

To be sure, that revised structure will once again take effect starting from September 18th. In this updated arrangement, the average incentive has been adjusted as follows: INR 50 per order for food and beverage orders exceeding INR 200, maintained at INR 100 per order for grocery, beauty, and personal care orders exceeding INR 200, and held at INR 100 per order for orders falling between INR 200 and INR 1,000 for electronics and other categories.

In the earlier version of the scheme, there was no categorization that determined the maximum incentive per order; instead, it remained a consistent flat rate of INR 100 for all orders.

Most significantly, the limit on the number of transactions a buyer can qualify for incentives per week has been reduced from five to just two.

In June, ONDC limited incentives per order to INR 100 in response to criticism for attempting to expand its market presence through aggressive discounts in the food and beverage category.

Presently, the government-supported e-commerce network has adopted a phased approach to offer incentives through the seller-side application as well. For instance, platforms will receive up to INR 6,000 for enlisting each seller in metropolitan areas, up to INR 7,500 in the targeted tier-2 and tier-3 cities, and INR 5,000 in all other cities if the grocery category has more than 5,000 stock-keeping units.

The incentive levels will also be adjusted according to the number of stock-keeping units a newly onboarded seller possesses and the category in which they operate.

With government backing, ONDC aims to curb the dominance of a handful of major platforms like Amazon, Flipkart, Swiggy, and Zomato in the e-commerce and food delivery industries.

The government aims to accelerate e-commerce adoption in the nation, targeting a 25 percent penetration rate within the next two years. This initiative aims to connect 900 million buyers and 1.2 million sellers through the network, with an anticipated gross merchandise value of $48 billion.

ONDC relies on three fundamental pillars to decrease business operational costs for all, including retailers: dynamic pricing, efficient inventory management, and optimized delivery expenses.

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Understanding Omni-Channel Marketing

The Importance of Omni-Channel Marketing

Strategies for Omni-Channel Success