In 2024, a noticeable shift in consumer behavior emphasized health and wellness, with a growing preference for scientifically backed strategies. Personalized marketing and storytelling became increasingly central, enabling brands like Marico to connect more effectively with their audiences.
The integration of artificial intelligence in campaigns, such as Marico’s Saffola ‘Step Up For Your Heart,’ demonstrated its potential to create interactive and engaging digital experiences. The influencer marketing landscape also saw further innovation, leveraging celebrity endorsements like Ronit Roy in Marico’s campaign to amplify messaging and broaden reach.
As highlighted by Somasree Bose Awasthi, Chief Marketing Officer at Marico Limited, e-commerce has significantly transformed the industry, emerging as a crucial distribution channel. Platforms like Instagram further influence buying decisions, with influencers showcasing trending products such as rosemary and herbal oils. Additionally, the demand for personalization is reshaping the hair oil market, as brands offer tailored solutions for specific hair types and concerns.
Edited excerpts:
What defining trends stood out for you in 2024?
In 2024, the shift in consumer behavior towards prioritizing health and wellness was evident, with consumers seeking scientifically backed wellness strategies. Personalized marketing and storytelling also gained traction, allowing us to connect with our audience more effectively.
The integration of artificial intelligence in marketing was another key trend, as seen in our Saffola ‘Step Up For Your Heart’ campaign, which leveraged AI to create an interactive digital experience. Influencer marketing continued to evolve, with celebrity endorsements like Ronit Roy in our campaign, helping to amplify our message. We have also tapped mass divergence with TV as a medium and also tapped influencers as we genuinely want people to take these steps towards healthy heart. Additionally, partnering with renowned medical experts as academic advisor for the campaign showcased the driving urgency to focus on heart health in modern times. Around 2.5 million people registered for the health movement in a span of 35 days.
To create a lasting impact during the festive season, we adopted innovative advertising strategies that harness data-driven insights to create hyper-personalized campaigns tailored to individual consumer preferences and behaviors. Leveraging AI tools, we enabled real-time monitoring, swift campaign adjustments, and optimized marketing actions. Our multi-channel approach seamlessly integrated traditional and digital platforms, including major TV channels, YouTube, and social media, ensuring maximum visibility and reach.
This targeted approach allowed us to build brand affinity, drive sales, and create lasting impressions. By embracing these trends, we’ve consolidated our marketing approach to forge more impactful and meaningful connections with our consumers, driving business growth and engagement during the festive season and beyond.
How did the rise of AI and generative AI impact your industry this year?
The rise of AI and generative AI has been invaluable in simplifying processes and enhancing efficiency. At Marico, we’ve leveraged Gen AI tools to streamline content creation and generate compelling captions, product descriptions, and marketing copy, saving time and resources. However, while the text generation capabilities are impressive, image generation still has some limitations, making it challenging to achieve the exact creative vision purely through generative AI. To address this, we are exploring a combination of generative AI and traditional machine-learning techniques to enhance our image-based use cases.
Furthermore, we use AI tools to monitor key marketing campaign metrics in near real-time, allowing us to quickly identify underperforming campaigns and make immediate adjustments or terminate them altogether, effectively managing costs and optimizing our marketing efforts. This agility ensures our strategies remain efficient and responsive to market demands, enhancing overall campaign performance.
What disruptive trends will take the spotlight in 2025?
On the horizon for us are several disruptive trends taking center stage. Foremost, conscious consumerism will continue to shape our strategies, driving demand for sustainable, ethical, and personalized products. In marketing, we expect personalized storytelling, influencer partnerships, and AI-driven content creation to gain traction. Consumers will seek authentic connections, forcing brands to prioritize transparency, social responsibility, and environmental sustainability.
The hair oil market is expected to continue evolving through 2025, driven by a strong emphasis on natural ingredients and personalized, multifunctional products.
Consumers are increasingly moving away from chemical-laden formulations in favor of oils enriched with natural ingredients like coconut, aloe vera, argan, and almond. This shift is driven by growing awareness of the benefits of plant-based oils for both scalp and hair health. Alongside this, the demand for multifunctional hair oils is rising, with consumers seeking products that not only moisturize but also promote hair growth and improve scalp health. These oils, often blending multiple oils and extracts, provide all-in-one solutions that cater to various hair needs.
E-commerce is playing a significant role in the market’s growth, with online sales becoming a major distribution channel. The convenience and wider reach offered by e-commerce platforms have contributed to this trend. Social media platforms, particularly Instagram, are further influencing buying decisions, as influencers showcase popular oils like rosemary and other herbal products. Personalization is becoming a key trend in the hair oil market, with companies offering oils tailored to specific hair types or concerns. This includes addressing issues like dryness, dandruff, and more, in response to the increasing demand for products that cater to individual needs.
In regards to edible oils, India is the world’s second-largest consumer and importer of edible oils with a market size exceeding 26.6 billion USD. To offer differentiation aligned with consumer expectations, custom blends of multi-source edible oils tailored to regional tastes and fortification of oils with essential vitamins will be part of product innovation. In addition, affordable packaging and simpler ingredients list will reflect the growing consumer preference towards sustainability and transparency.
What is your New Year’s resolution/s on a professional and personal front?
As opportunities emerge, my corporate commitment is to further cement our position as a leader in the FMCG space. With 2025 poised to be a landmark year, marked by shift towards health-consciousness, sustainability, and digital engagement, our aim would be to continue driving innovation and creating meaningful consumer experiences that align with evolving preferences.