New Delhi [India], Oct. 30 (ANI / NewsView): BASES, a NielsenIQ company, has released the winners of the highly anticipated 2021 ‘BASES Top Breakthrough Innovations’ awards, its annual list of successful innovations by brands across India as well as exclusive details devoting the strategies of the winners and how they conceived the brilliant ideas.
NielsenIQ BASES is a leader in helping businesses build brands through innovation, renovation, strategy and go-to-market optimization, and is a trusted partner at scale global and in all sectors. BASES helps maximize end-to-end brand success through advanced predictive analytics, behavioral science, proprietary databases, expert advice, and agile digital technology platforms.
NielsenIQ BASES uses different evaluation criteria for innovations aimed at mass consumption versus those aimed at a niche audience. It varies depending on whether the goal is to generate long-term vs. short-term income gain, increase the category pie, gain share within the category, or simply avoid competitive pressure. NielsenIQ BASES reviewed innovations in 100 categories with a minimum 18-month market presence in FMCG (Fast Moving Consumer Goods) OTC (Over the Counter).
“When evaluating innovations, there is no longer a ‘one size fits all’ approach. It is crucial to know the objectives and the innovation strategy of the company. A key factor to consider is the strength of the innovation over time, in line with revenue targets and other criteria. In the post-pandemic era, Indian consumers have become health conscious and have changed their choices to be more environmentally friendly, this trend is visible in all product categories ”, said Vidya Sen, Asia Manager South, NielsenIQ BASES.
It’s October 2021, but COVID-19 is still a concern in growing and developing markets like India: 9 in 10 Indian respondents to BASES survey express concern about COVID -19 and 80% of Indians consider hygiene products more important today than before the pandemic. COVID-19 has only increased the sense of health hygiene awareness and concern for the environment while reducing mobility. The innovations that have been on the “Best Breakthrough Innovations” list are keenly aware of this shift in consumer behavior, and healthy, natural and sustainable products are at the heart of their product offerings.
Breakthrough Innovations seized the innovation opportunity through various strategies. Some winners came up with natural or local ingredients, such as Himalaya Pure Hands Hand Wash, Colgatereg, ZigZag Neem, Oral-B Shiny Clean with Clove Extract, and Good Knight Naturals Neem Agarbatti. Others have been successful through health and immunity platforms – like STAYFIT ORSFIT, fortified with vitamins for better health, and Sunfeast Veda Marie Light, built on the health property of Ayurveda. Wowpertrade; Fresh PANTS has won over consumers with a “local brand” positioning that is personal and within reach. Keventer Dairy has targeted eastern and northeastern India and made good quality milk available to these consumers. Convenience was the road to success for Godrej Expert Easy 5 Minute Hair Color Shampoo.
Adding spice and festivity with their new flavors has made Red Bull Orange, Red Bull Coconut Twist and Cadbury Dairy Milk Very Strawberry drinks among the top innovations.
As an extension of its consultancy work, NielsenIQ BASES has identified a host of exciting future trends among consumers in India. These include: Technology – a key catalyst for innovation, Convenience and easy access will be deciding factors, Consumers value honesty and transparency, Kindness to Mother Earth is valued, and last but not least – Health is the new “wealth”.
“Natural ingredients”, “honesty and transparency” Organic has become a popular choice specifically for Indians, compared to other markets. Clean ingredient lines and locally grown ingredients are among the top two common choices impacting confidence, innovation and premium look for Indian consumers. Additionally, consumers now want greater transparency when it comes to their food, especially in understanding what ingredients go into those products, as well as where and how the food is grown or manufactured. 90% of Indian consumers place more emphasis on transparency, due to the impact their food choices will have on their personal health.
“By focusing on the ingredients in the product, brands give consumers the feeling that the product is made with quality ingredients. If there are pro-health nutrients with proven benefits, brands should consider incorporating these facts into the package label. Consumers are looking for easier ways to link the foods they eat to health benefits, but are not sufficiently informed about specific ingredient / nutrient relationships to make the connection themselves, ”said Vidya.
Health is the new ‘wealth’ A BASES study found that Indians want their drinks to be healthy (56%), nutritious (68%) and taste good (83%). As Indian consumers increasingly seek holistic health benefits, they claim to favor sophisticated ingredients such as plant protein, magnesium, collagen, electrolytes, and creatine to create fortified drinks.
“Consumers perceive current offers as insufficient when it comes to nutrition. They offer taste and convenience, but they have the potential to improve their health quotient. Energy drinks and immunity boosting are finding favor in India. From an ingredient perspective, probiotics, herbal, and organic ingredients are sought after by Indian consumers. While innovating in healthcare, brands need to keep taste and affordability in mind, ”Vidya said.
Caring for Mother Earth, with Sustainable Packaging As consumers become more environmentally conscious, they are also more concerned about the environmental impact of brands’ packaging choices. Research results show that excessive wastage of packaging is the number one concern of Indians when it comes to consuming beverages, followed by unsanitary conditions. Indians are more open to biodegradable packaging followed by refillable / multi-purpose packaging types.
Technology is a key tool Consumers seek much more control when making purchasing decisions and the COVID-19 pandemic has further reinforced this attitude – paving the way for a digital revolution. Claimed use of online services for personal care, food and OTC has indeed increased by 65%, 45% and 78% respectively. Following this buying trend, Indian consumers are also generally receptive to trying technology-based personal care solutions, such as facial scoring and smart electrical devices.
“The use of technology is redefining our expectations for customer service and purchasing high quality products. Consumers are looking for more personalization and COVID has disrupted the way we shop. The ability to customize products based on the unique needs of consumers will be a differentiator for brands. , especially in cosmetics, hair and facial skin care, ”Vidya said.
Convenience and Access A growing number of Indians are using online pharmacies and mobile apps for more convenient interactions at home. 60% of Indians are much more comfortable buying medicine from an online pharmacy than 5 years ago and 66% are currently using a health app on their phone or computer.
For more information, NielsenIQ is the leader in providing the most comprehensive and unbiased view of consumer behavior, on a global scale. Powered by a revolutionary consumer data platform and powered by rich analytics capabilities, NielsenIQ enables bold and confident decision making for the world’s leading consumer goods companies and retailers.
By using comprehensive data sets and measuring all transactions equally, NielsenIQ provides customers with a forward-looking view of consumer behavior to optimize performance across all retail platforms. Our open philosophy of data integration results in the most influential consumer data sets on the planet. NielsenIQ provides the full truth.
NielsenIQ, an Advent International portfolio company, operates in nearly 100 markets, covering over 90% of the world’s population.
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