Pandemic brought major shifts i consumer preferences: Britanni

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 valueadded products into the segment.

The company is going for expansion of distribution for the dairy portfolio, growth of e-commerce & 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 milk procurement capabili ensuring consistency in qu of raw material and strengt ing cold chain distribution said.

While talking about the cuit segment, Britannia India continues to provide si icant opportunities for grow the per capita consumptio much lower than that of de oped countries.

“High levels of house penetration (above 90%) au well for an increase in consu tion. There is potential to consumption growth thro innovative, healthy and mium products,” the an report said.

In the cake segment, Brita said its immediate strategic orities are to strengthen scale up innovation, reno and make the base cake seg more premium and in new market formats with afford prices.

“There are opportunitie growth through the launc innovative products at diffe price points and expansio rural markets,” said Brita Industries.