Live
- Delhi Police records Rashmika's statement in deepfake case
- PM Modi targets Pawar on farmers’ plight, neglect of irrigation sector
- Home Minister Amit Shah to address rally in Goa on May 3
- PM Modi to visit Vemulawada on May 8
- KCR ignored Warangal: Naini
- Communists, take lead to script history for Raghuveer
- Mega response to voter awareness rally
- KCR’s impromptu ‘chai pe charcha’
- Khammam: Raghuram Reddy will win with a huge majority
- Time for BRS MLAs, MLCs to pull up their socks
Just In
Pandemic brings in major shift in consumer demand: Britannia
Company to scale up its dairy business and also working on innovation, renovate strategies to achieve growth and market share by increasing presence among the Indian diaspora
New Delhi: The pandemic has brought significant shifts in consumer preferences and behaviours, including the growth of online business channels, which are likely to strengthen and present new opportunities for food business in future, according to Britannia Industries.
The company is well placed to sustain growth and is confident of addressing the evolving situation with its wide distribution network, intrinsic brand strengths, innovation and technology capabilities and cost efficiency programmes, it said in its latest annual report.
"Significant shifts in consumer preferences and behaviours, growth of online business channels and higher demand for staples and value products are some of the changes brought about by the pandemic. These trends are likely to strengthen and present new opportunities for the food business in future," the company said.
According to Britannia, it foresees opportunities to scale up its dairy business by leveraging product innovation and accelerating the growth of value-added products into the segment.
The company is going for expansion of distribution for the dairy portfolio, growth of e-commerce and digital subscription platforms and culinary experimentation at home with categories like cheese due to the lockdown.
In the segment, Britannia sees quality milk procurement and infrastructure improvement, including cold chain, as the primary growth challenges.
"To address these challenges, your company has been continuously investing in farmer connect programmes, scaling up milk procurement capabilities, ensuring consistency in quality of raw material and strengthening cold chain distribution," it said.
While talking about the biscuit segment, Britannia said India continues to provide significant opportunities for growth as the per capita consumption is much lower than that of developed countries.
© 2024 Hyderabad Media House Limited/The Hans India. All rights reserved. Powered by hocalwire.com