As India braces for the festive season, the well-established snacks powerhouse, Haldiram’s, is eyeing a significant sales uptick of 20-25% compared to the previous year. Avin Agarwal, the Director of Haldiram’s Nagpur, mentioned to ETRetail that while it was a substantial figure, the company had initially anticipated a higher growth rate, which was impacted by unforeseen challenges. This statement highlights the firm’s resolve to rebound despite encountering unexpected setbacks.
Agarwal underscored a decline in consumer purchasing capacity that has led to decreased order sizes and a noticeable inclination towards downtrading within specific product segments. In an effort to expand their market reach, Haldiram’s has devised a strategy to launch new outlets, primarily targeting tier 2 and 3 cities. Agarwal chose to withhold the precise number of planned store openings, heightening anticipation among eager customers.
Historically recognized for its robust physical presence, Haldiram’s has transitioned to embrace the digital realm, presently securing around 10% of its business through online platforms. With a forward-looking approach, Agarwal revealed the company’s ambitious objective: to magnify the role of online channels, striving to elevate their significance to a noteworthy 20-22% within the total business framework. This strategic pivot towards bolstering their online footprint resonates with the changing consumer patterns, showcasing Haldiram’s flexibility and dedication to serving a broad spectrum of customers.
Amidst the ongoing challenges and evolving market conditions, Haldiram’s maintains a positive outlook regarding its prospects for the imminent festive season. Their unique amalgamation of time-honoured flavours and inventive product offerings, combined with a deliberate drive to enhance their online presence, reflects a proactive stance in manoeuvring through today’s business terrain.
Amidst the escalating festive spirit, Haldiram’s proactive stance in embracing change and exploring new paths for growth demonstrates its resilience in challenging times. This positions the beloved snacks brand for an anticipated and promising upcoming season filled with possibilities and potential rewards.
