In today’s fast-paced world, many are yearning for a simpler life, seeking fulfillment in everyday joys and meaningful connections. This shift has given rise to trends like rural revitalization and chosen families, where community and care are redefined. Shuvadip Banerjee, CDMO of ITC Ltd., notes how such sentiments—like the delight in a perfectly brewed coffee or the quiet affection of a pet—reflect the ‘Gleamer’ mindset, poised to influence industries in the coming years.
Parallel to this emotional shift, consumers are becoming more aware and intentional in their choices, particularly regarding sustainability. The demand for sustainable alternatives has grown, urging brands to provide clear, tangible information about their environmental claims. Banerjee emphasizes that aligning accurate sustainability claims with the right products will empower consumers to make informed decisions, fostering trust and loyalty.
Meanwhile, the rise of health-conscious diets underscores another major trend. Consumers are increasingly focused on nutrition and overall well-being, driving demand for products that cater to these needs. Banerjee further elaborates that simultaneously, quick commerce is transforming the Indian marketplace, meeting the need for instant gratification and fueling rapid growth in this sector.
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What were the key highlights for you and your teams in 2024?
One of the keys highlights this year was, adopting newer ways of marketing at scale. This includes,
Leveraging owned assets of our brands to engage with our audience. For example, our Aashirvaad Happy Tummy website, Right Shift etc.
Scaling up enriched first party data
Leveraging analytics and technology to drive various marketing led investment decisions
Creating Hub & Hygiene content at scale
Another aspect is being able to successfully build culture-relevant food codes/ communication within our brands to foster deeper connection with our consumers. We have done this for Sunrise, Aashirvaad, YiPPee! Sunfeast Marie and so on.
What defining trends stood out for you in 2024?
The rise of health-conscious diets has been a significant trend, driven by growing interest in nutrition and overall well-being. This conscious consumerism is giving rise to multiple health and wellness spaces like Gut friendly diets, Protein rich diet, we are seeing a lot of disruptive brands growing in India in these categories.
Quick commerce is disrupting the Indian marketplace. Their ability to provide quick satiation to ever-hungry consumers is fuelling the growth of this space. Consumers today are expecting multiple categories and options including fresher and healthier products to be delivered immediately to their home.
Concerts have taken center stage in India, with a surge in live music events placing the country on global map for concert tourism. This has opened up newer avenues of brand engagement with consumers.
Shift towards Premiumisation: Urban consumers today seek premium products to fulfil their niche requirements. There is a growing appetite for premium products in categories like packaged foods, beverages etc.
How did the rise of AI and generative AI impact your industry this year? Can you sum it up in 3-5 points?
Generative AI has taken centre stage and has revolutionised marketing, where we are able to develop personalised content, curate products based on consumer preferences and so on. While integrations and advancements continue, brands/organisations must be transparent and purposeful in using generative AI.
What disruptive trends will take the spotlight in 2025?
Few trends, that will potentially take the spotlight in 2025 and beyond, from a consumer point of view:
Rise of “The Gleamers”: Hectic lifestyle has led people to yearn for a simpler life. From rural revitalisation to chosen families, the Gleamers are redefining what community, care and fulfilment look like. The simple everyday joys like ‘Your coffee tasted so good this morning that it made you smile, or your cat letting you stroke her for a few seconds without purring for food’, such ‘Gleamer’ sentiments will be influencing the industry in the coming years.
Conscious Consumers: With rising awareness among consumers, they are increasingly and consciously spending on sustainable alternatives. Brands will have to provide tangible information to sustainability claims and align the right claims with the appropriate product to help consumers make informed decisions.
Filtered Focus Consumer: Consumers today want to spend less time sifting through an overabundance of options to find exactly what they need. Therefore, clear communication and optimised user experiences will be prioritized to stand out in a crowded marketplace.
Rise of DIY Meal Kits/Preps: Services such as Meal Prep/Meal Kit will be on the rise. Busy lifestyles and the demand and quick meal solutions have fuelled the popularity of meal kits. Further, many consumers are also looking for healthier meal options but lack the expertise. These services provide DIY kits with recipes and all the ingredients to cook freshly at home – it takes away the mental load of prepping, deciding what to eat, and sourcing of the ingredients.
What are your New Year’s resolutions?
In the coming year, I would like to work on shifting from just digital transformation to driving Insights and Informational transformation.
I also look forward to learning and updating myself on Agent AI, RAG and LLM and understand how they can be leveraged/used to provide a competitive edge to ITC’s businesses and brands.