Snacks major Bikano had recently come up with its announcement regarding the launch of its three new lip-smacking products that can help the company improve its market share and revenue stream in the western snacks category. Its latest products being Mexican Crunch and Fun Sticks are expected to solidify Bikano’s presence in the Western Snacks Market that is worth Rs. 16,000 crores.
Present day consumers want easy-to-carry, price-effective snacks that should not compromise on nutrition and taste. With Gen-Z being more focused on their health and wellness, unsurprisingly, they look for healthier products and are also attracted towards new products. Adults look for the brand and price and they want their money spent well; hence the quantity aspect too forms a key consideration in their choice making.
Manish Aggarwal, Director, Bikano, who had spoken about the launch of Bikano’s latest products stated – “The launch of new products provides a means to target new markets, new customers, increase market share, sell more and eventually increase our revenue streams. A wide range of products portfolio gives confidence to the retailer & provides an opportunity to infuse new energy into the channel which would eventually help in increasing sales revenue. Treatos Mexican Crunch and Chatax Fun sticks are definitely going to work as fuel for growth.
New Work from Home culture post lockdowns have somehow developed the habit of munching while working. Observing these trends, Snacks Market is going to get even bigger. For the initial 6 months, we are expecting sales revenue of Rs. 25 lakhs per month and will gradually attempt to achieve Rs. 1 crore sales per month from these 3 products.”
Dawinder Pal, Head of Marketing, Bikano stated – Gen-Z and Millennial population are considered a big market by FMCG companies for its snacks segment. With snacking brands focusing more on products with low-calorie count and less oil, they are able to encourage the younger generation towards healthier snacking choices.
“Indians are experimenting, seeking variety and are open to trying new products and experiences. Businesses need to be quick to tap into the fast-growing and profitable categories. Diversifying the portfolio makes sense as it helps mitigate risk and is not necessarily a costly affair. Most product changes are consumer-led and this is to cater to their explicit and implicit needs.”
Further, he added – “In Mexican Crunch, periperi flavour is the most popular flavour. Also, it is 100% corn-based which gives a crunchy bite. On the other hand, the USP of Chatax Fun Stick is the taste and flavour which differentiates it from competitors. The product is very tasty and light to eat. For the Treatos Mexican Crunch, we are targeting the age group of 10-30 years, while for the Chatax Fun Sticks, our target group is 5 years to 18 years.”
| Pack | MRP |
|---|---|
| Mexican Crunch | 10 |
| Chatax Fun Sticks Cream & Onion | 5 |
| Chatax Fun Sticks Tomato | 5 |
To enhance the success of these products, Bikano will be marketing these products across various channels like digital, retail and print media. The products are available at different price points starting from Rs. 5 to Rs. 10.