Seeking value and convenience
A PwC* December 2021 Global Consumer Insights Pulse
Survey, surveying 9,370 consumers across 26 countries,
revealed that consumers are planning to spend more and
are witnessing improvements in their lifestyle. This is due to
employers allowing flexible/hybrid ways of working. Price
and convenience remain to be the priority topics when it
comes to purchasing.
We acquired Tata Smartfoodz, which offers a range of
innovative and differentiated products manufactured using
MATS technology in India. These meals are ready to eat and the
unique technology helps us retain taste, texture and nutrients
of the food.
Transitioning consumer attitudes
in the post pandemic era
With the pandemic, consumers are choosing to opt for
offerings with health and immunity boosting benefits.
Young Indian consumers are increasingly focused on
healthy and mindful eating.
As consumers adopt healthier lifestyles, we strengthened the
Tata Soulfull portfolio, which has products made from ancient
millets like ragi in convenient and contemporary formats like
breakfast cereals, healthy snacks, muesli and plant-based
protein drinks.
Sustainability and rising awareness
Consumers are increasingly becoming aware of
climate change, and its impacts and are hence focused
on sustainability. More and more FMCG businesses
are offering compostable, recyclable and reusable
packaging to fulfill consumer demand. Additionally,
cruelty-free, vegan components are becoming
more popular
According to the Deloitte Sustainability and Consumer
Behaviour 2021 study**, 32% of customers are looking
at living a more sustainable lifestyle while 28% have
stopped buying specific products due to ethical or
environmental concerns. Gen Z is adopting a more
sustainable outlook compared to other generations.
We joined forces with the India Plastics Pact as a founding
member. This is a public-private collaboration aimed at
eliminating and recycling plastic across the value chain.
Through our operations, we are actively working towards
optimising consumer packaging, using our resources
efficiently without compromising on product quality
and safety. We are also among the founding members
of trustea, India’s Sustainability tea programme, that
has helped sustainably transform 790 million kg tea till
FY 21‑22. We undertook several other initiatives to carry
out our business responsibly and have set targets to
minimise our environmental footprint.
Uncertain external environment
While the environment continues to be uncertain due to
the current geo-political situation and extreme inflationary
pressures, the mid- to long-term consumption story is
intact.In the short term, consumers might seek value, but
would also transition to more trust-based purchases.
The Tata brand has and will continue to inspire confidence
among its consumers. We have a strong portfolio of trusted
brands across various price points, thereby catering to a wide
cross-section of consumers.
Digitalisation, Big Data and analytics
With the massive surge in internet penetration across India,
the country is set to host a billion internet users by 2030.
The pandemic has brought online shopping for everyday
commodities into the mainstream paradigm. Consumers
have experienced the ease that such a model offers. Online
connectivity and increased awareness are proving to be key
propellers upgrading consumption patterns.
Big Data is being actively used by FMCG companies to
innovate and compete in the sector. Consumer preferences
and behaviour are mapped using data analytics that give
FMCG companies better insights on purchasing habits.
We embarked on our digital transformation journey and
are building our digital core by strengthening our sales and
distribution channel. These digital investments are helping
us gain real-time insights to drive faster and more effective
decision-making.