Baba Ramdev’s Patanjali becoming a tough competitor in consumer goods space
Baba Ramdev's Patanjali have 350 products portfolio ranging from noodles and biscuits to shampoos and toothpastes. Patanjali is giving a head-on competition to the consumer goods majors and it is becoming a strong contender in the consumer goods markets in India.
Top officials from consumer goods giants are personally analyzing Patanjali products to understand competition outlook.
Many new products are anticipated to launch in 2016 by Patanjali and will be for retail sales in stores soon. People, across all the income levels are consuming these herbal and ayurvedic products, and acceptance level of Patanjali products seems to be on a boom in the near future.
One of its key competitors, Dabur which offers honey and Chyawanprash to the consumers is closly analyzing the Patanjali products. Patanjali got its entry into the market through department stores after signing a deal with Future group in October this year.
There has been a word that Ramdev is accelerating his business by setting up Patanjali mega stores across the cities to sell its products exclusively. The anticipated sales from these stores would be around Rs. 5,000 Crore by the end of 2016.
The major concern of the big consumer conglomerates is that Patanjali products have spearheaded into urban homes and modern trade.
Future group is expecting to do a business of around Rs. 1,000 Crore with Patanjali over period of 20 months.
According to TechSci Research, Patanjali products could bring a revolution in the ayurvedic products segment. These products are still not fully penetrated into the Indian markets however, anticipated to be successful in the long-term. High brand loyalty and satisfaction has resulted in huge demand of Patanjali products among all classes of consumers. Moreover, unlike other FMCG companies doing businesses in India, its versatile product portfolio offering to the consumers enhances the sales, as the customer ends up buying many products from multiple categories.