Elysha Young
Elysha manages the Asia Pacific Mintel Trends team made up of expert analysts and trend spotters. She currently oversees content for Mintel Trends as well as client servicing for the region.

Post-COVID-19 pandemic, digital transformation will be a top priority for FMCG firms like ITC and HUL, as e-commerce channels and hyper-local services are helping drive revenue in these segments.

FMCG player ITC has recently launched ‘Young Innovators Lab’, which is aimed at bringing together digital natives from different domains of ITC’s business to help in crowdsourcing transformative digital strategies. The company has also announced a dedicated council of senior managers, ‘DigiNext’, to ideate and sponsor high-level digital transformations. 

According to Mintel research, such initiatives resonate with almost half of Indian consumers who agree that they like to be amongst the first to try new technologies. This initiative is expected to encourage better participation and ownership as it eliminates red-tape bureaucracy and grants managers autonomy in setting their agenda, seeking resources, accessing digital assets and creating opportunities across the value chain. 

Mintel trend ‘Entrepreneurial Spirit’ spotlights how consumers are exploring flexible ways to earn and learn thanks to a more entrepreneurial mindset. Companies and brands can make virtual learning initiatives, hiring schemes and working practices the new reality rather than just an option. As consumers see valuable information as something worth spreading, brands who share their expertise, or launch platforms that allow people to do so on their behalf, are expected to see an increase in value.

What we think

Mintel Trend Driver ‘Technology’ predicts how digital technology will further bridge the gap between consumers and brands, helping the spread of ideas and innovations and making economies more equal. Smart manufacturing, better product quality, supply chain agility, and developing the scope and reach of e-commerce channels are expected to contribute to a larger and more holistic digital ecosystem in India. 

This will be further supported by the ‘Make in India’ and ‘Digital India’ initiatives from the Government of India that are set to improve online infrastructure and empower the country’s digital evolution. For brands, the post-COVID situation is a suitable time to invest in digitisation and offline-to-online transformative innovations. Brands that focus on building technologies, scaling up their digital capabilities and leveraging digital platforms will find success.