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The report compiled insights from over 190 visionary thought leaders including celebrity chefs, influential bloggers, and dedicated nutritionists, highlighting the key trends that are set to revolutionize monsoon snacking.

Key Trends of Monsoon Snacking are:

Air-Fried Options on the Rise: A 8.5% of experts favor non-fried options this monsoon season. The trend is shifting towards baked or air-fried alternatives. While traditional favourites like vada pav and samosa continue to be enjoyed occasionally, healthier versions such as baked samosas are gaining popularity. Nut-enriched and non-fried/air-fried options deliver the same crispiness without the high-fat content, aligning with the global movement towards healthier eating.

Nutritionally Fortified Options:  78.8% of experts predict a rise in nutritionally fortified snacks. With the shift towards work-from-home and hybrid work models, snacks have become an integral part of meal plans. People are now more inclined towards healthier ingredients like makhana and millets, and consciously choosing baked and puffed options over deep-fried ones. These snacks offer a satisfying crunch with a guilt-free boost of nutrients.

Ready-to-Eat Snacks Solutions:  With 51.9% of experts predicting increased popularity, ready-to-eat snacks are the perfect dish for on-the-go individuals. These convenient options cater to busy lifestyles, providing quick, nutritious choices like protein bars, energy bites, and pre-packaged fruit and nut mixes. For everyone who prefers classic tastes, ready-to-eat frozen snacks like air-fried nuggets and millet patties are crafted to meet diverse dietary needs, ensuring snacking is accessible anytime, anywhere.

Traditional Flavours and Textures: Nostalgia plays a significant role, with 76.9% of experts favouring traditional flavours and textures. While parents strive to introduce healthy snacks to their children, a balance is often struck with familiar, comforting options. Traditional snacks, enriched with healthy nutrients and prepared using low-fat or baked methods, will continue to grow in popularity. These snacks provide a sense of nostalgia while adhering to healthier cooking practices.

Commenting on monsoon snacking trends, Rushina Munshaw Ghildiyal, Managing Director of A Perfect Bite Consulting and Editor of the annual Godrej Food Trends Report, said, ‘‘The insights from the Godrej Food Trends Report 2024 reveal intriguing shifts in snacking preferences, emphasizing a desire for healthier options without compromising on taste. This includes a notable preference for non-fried snacks, a growing interest in nutritionally fortified options, and a continued love for traditional flavours. Embracing these trends allows us to fully enjoy the monsoon season while also caring for our health. It’s about relishing the joy of snacking while making mindful choices that nourish our bodies. Let’s celebrate the monsoon with a delicious array of snacks that cater to both our indulgence and well-being.’’

For more insight and detailed report, download Godrej Food Trends Report 2024 at www.vikhrolicucina.com

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Khamgaon in Maharashtra is a town steeped in the ancient art of precious metals. Well-known for its thriving silver and gold market, every corner in Khemgaon tells a tale of craftsmanship passed down through generations. Here, silversmiths and goldsmiths weave magic with their skilled hands.

The town is also home to a popular local supermarket run by a retailer whose family migrated from Didwana, Rajasthan decades ago. In 2001, Santosh Didwaniya, the crowing jewel of Didwaniya family, took the initiative to launch Didwaniya Super Bazar, which is spread over two thousand square feet, and serves as a one-stop solution for catering to all the needs of the local community. The store is known for its quality food products like spices, pulses and other grocery products.  The store has PAN India reach and also deliver products to overseas countries like USA and Russia.

How did the journey begin?

Before commencing the entrepreneurial journey, the family of Santosh Didwaniya operated a wholesale business,  specializing in selling rice and grains. The store was named ‘Gangaram Premsukhdas’ that served the local populace, nurturing a deep bond with the community over generations.  Santosh Didwaniya, the elder son of the Didwaniya family, would spend hours in the grocery shop, diligently honing his skills. Initially motivated by the pursuit of pocket money, his passion for the business gradually intensified to the point where he would forget how many hours he would spend in the shop.

After completing his graduation, Santosh decide to venture into independent business, so he opened a small provision store in 1979. This small shop in Khemgaon marked the beginning of the entrepreneurial journey for the owner.

Over time, Santosh shifted his focus towards entering the organized retail sector. Consequently,in 1995, he transformed his traditional shop into a modern 600-square-feet retail store knownas ‘Didwaniya Provision.’ The shop was quicklyembraced by the local residents and became a popular shopping destination. However, the store’s success was not solely due to Santosh’s determination and hard work; it also included the significant contributions from his wife Uma Didwaniya. While the children were away completing their studies, Uma took charge of the business to support Santosh. Over time, Santosh recognized the growth opportunities in Khamgaon.

Consequently, in 2001, he transitioned from his small retail shop to a 2,000-square-feet supermarket. The supermarket achieved its fair share of success just likethe provisional store. Ankit and Sonal Didwaniya, MBA graduates and children of Santosh, played a crucial in establishing the business.

Aditionally, Gaurav Didwaniya, the elder son of Santosh who pursued CA, also contributed to the family business after completing his studies. Overall,the success of Didwaniya Super Bazar highlights the family’s dedication, commitment, and unity, making their venture a triumph in the community.

Today, Didwaniya Super Bazar has become a central shopping destination for the people of Khamgaon, boasting an annual turnover of Rs.6 crore and a 10% annual sales growth. The store sees an average daily footfall of approximately 270 customers and offers an extensive range of products with 9,000 SKUs.

Sourcing the products and creating the brand identity

Initially, Didwaniya Super Bazar used to source its products from Akola, Jalgaon, and Nagpur as these cities boasted much stronger distribution networks compared to the shop’s district place in Buldhana.‘‘We concentrated on sourcing goods from beyond the village, often transporting large items ourselves, all while ensuring we met the demands of our customers,’’ recalls Santosh Didwaniya.

“What sets us apart from other shops,” he continues, “is not just our modern infrastructure and self-service concept, but also our philosophy of offering products at prices lesser than the MRP. This approach resonates with customers across all economic strata, fostering strong customer relationships.’’

Didwaniya Super Bazar is not just a contemporary store; it’s a destination where customers receive goods at affordable prices and nurture lasting bonds with the patrons.

Focus on quality and availability of products

But reasonable pricing does not mean that the products available in the supermarket have a degraded quality. The supermarket ensures that all goods meet high-quality standards while maintaining affordability. This balance between cost and quality has been a cornerstone of their success.  ‘‘We believe in offering value to our customers by providing high-quality goods at affordable prices. Our commitment to quality assurance extends across all categories, whether fresh produce, packaged goods, or household essentials. By offering a diverse range of top-notch products at competitive prices, we strive to enhance the shopping experience and earn the loyalty of our valued customers,’’ assures Santosh.

Furthermore, the retailer also made it a priority to stock every item demanded by the customers, even if there was no existing distribution network for those products in the nearby region.

Sharing his personal experience in the arena, Ankit Didwaniya, younger son of Santosh Didwaniya and the Managing Director of Didwaniya Super Bazar, said, ‘‘When Kinder Joy was launched and highly promoted on TV, it wasn’t available anywhere in the city. At that time, I was pursuing Computer Science Engineering in Nagpur, and so I was residing there. My father instructed me to procure it from Nagpur, even though it wasn’t feasible to transport it conventionally. Despite the risk of spoilage, we personally carried it over 300 kilometers just to ensure the availability of the new product. This dedication to fulfilling customer demands, regardless of the challenges, underscores our commitment to customer satisfaction.’’

Challenges in the distribution

FMCG brands’ distribution has improved significantly since the inception of the store. As mentioned earlier, it was a challenging task to procure FMCG or any other well-known brand in the region. Even popular brands like Colgate weren’t readily available. Ankit recalls, ‘‘To procure FMCG products, my father had to travel 50 kilometers, a journey that took a minimum of two or two and a half hours at the time, compared to just 30 minutes nowdays.’’

Transportation was slow during the period, so Ankit and his brother Gaurav would often personally bring the products to their store, as relying on transport services meant uncertain delivery times. Praising his father’s undeterred determination to serve its customers, Ankit says, ‘‘My father’s dedication to his work was unparalleled. He went above and beyond to ensure product availability, reflecting his extraordinary passion and commitment. This dedication remains steadfast even today.’’

Giving another example of his father’s struggle and dedication towards his patrons, Ankit says, ‘‘My father sold the entire boxes of Bisleri at a 30% discount from the MRP just to meet demand. This strategy not only attracted customers but also fostered a sense of family within the community. By prioritizing customer satisfaction and going the extra mile to fulfill their needs, we’ve built lasting relationships that transcend mere transactions.’’

However, the situation has changed over time. With the advent of e-commerce and other online platforms, the distribution of products has become much more accessible in the region. Now, leading brands such as Unilever, PNG, Parle, Britannia, and Nestle are readily available, thanks to the improved availability facilitated by these platforms. 

Today the retailer has a network of 240 suppliers, making the availability of products a much easier task. This robust supplier network helps in maintaining their inventory levels and enhancing their product portfolio ultimately contributing to the overall success and competitiveness of the business.

Despite the progress made, there still exists a gap between certain products and their availability in the region. This gap presents an opportunity for further improvement and refinement in the distribution network. Moving forward, it’s essential to address this disparity to ensure that a wider range of products becomes accessible to the residents of Buldhana. 

By identifying and addressing the gaps in the distribution network, there’s an opportunity to elevate the overall shopping experience and enable retailers to cater to the diverse needs of the community more effectively. This could entail strengthening partnerships with suppliers, optimizing logistics channels, and leveraging technological advancements to streamline the distribution process. Through proactive measures and collaborative efforts, both retailers and brands can work together to bridge the existing gaps and ensure a more comprehensive availability of products in the future.

Leveraging the customer profile

Didwaniya Super Bazar has a broad customer base, encompassing individuals from various segments, including the middle class, and upper middle class, as well as women, children, and senior citizens. The store caters to the diverse needs and preferences of each of these segments, ensuring a comprehensive shopping experience for all patrons.

‘‘Our primary target segments consist of the middle class and upper-middle-class categories, reflecting the affluent nature of the locality where our shop is situated. Additionally, we attract a significant number of young customers due to the presence of three to four medical and engineering colleges nearby. Young girls and boys are frequent visitors, often making monthly purchases and returning for repeat shopping. Mothers and housewives form another important customer segment for us. They trust us for their regular shopping needs and prefer to purchase from our store repeatedly. Moreover, we have established a strong rapport with elderly customers, aged 60 and above, who exhibit unwavering loyalty towards our store. This trust is built over the years based on reliability and personalized service. As a result, customers consistently opt us to fulfill their shopping needs. In essence, our customer base is a diverse mix, comprising professionals, housewives, youngsters, and elderly individuals, each contributing to the vibrant tapestry of our clientele,’’ says Santosh

Unveiling the marketing strategies

In terms of marketing strategies, Didwaniya Super Bazar provides quality products to its customers at competitive rates, coupled with exceptional service to ensure their satisfaction. ‘‘We strongly believe that delivering quality products at affordable prices not only secures initial purchases but also fosters repeat business through customer loyalty,’’ says Ankit.

Santosh adds, ‘‘To achieve customer footfalls and repeated purchases, we have implemented a dynamic approach to our pricing and promotional strategies. We offer season-wise deals, festival-specific promotions, and daily specials, and keep a close eye on emerging trends in the market. By aligning our offers with the prevailing seasons and festivals, be it summer, winter, or monsoon, we tailor our promotions to match the preferences of our diverse customer base.’’

He further says, ‘‘Moreover, we celebrate all festivals with equal enthusiasm and inclusivity, recognizing and respecting the cultural diversity of our clientele. Whether it’s Diwali, Ganpati, Navratri, Janmashtami, Holi, Christmas, Ramzan, or any other significant festival, we extend special offers to all communities, ensuring that every customer feels valued and appreciated.’’

The retailer has introduced offers like  Diwali Bumper Offer, New Year Offer,  and Dhanya  Mahotsav to attract customers.  Apart from that, the retailer has rolled out a scheme called ‘‘Shopping Pay at Rs 999’’. Under this program, customers can make a Rs 999 purchase and subsequently can avail sugar at just ₹18 per kg, significantly lower than the standard market rate of Rs 42 per kg. This move prompted even our competitors to inquire how we manage to afford such low prices without incurring losses.’’

Following the success of the sugar campaign, the retailer also introduced a special Gauri Ganpati offer on oil for the festive season where the retailer sold diya oil for Rs 90 per kg as compared to MRP of Rs 150 for the complete festive month.

In addition to these marketing strategies, the retailer has leveraged online platforms such as Instagram, Facebook, and WhatsApp to promote its supermarket. By unveiling new offers on these platforms, the retailer ensures wider accessibility and reach among the customers.

Building trust and credibility

Going forward, Ankit emphasized the long-term trust and credibility that his father has built with the customer. He says, “My father has built the trust and credibility with the customers over many years, and we understand and uphold this value. We always tell our employees: do not make any false commitments to the customer. Honor the commitments you make. If a customer receives a product, and even if it is of good quality they do not like it, we accept the return. Our priority is maintaining the trust and satisfaction of our customers.”

He further adds,  “If a customer is not satisfied with a product, we would accept returns. For instance, I have accepted returns on FMCG products that had been opened by the customer. Customers have brought back open packets of chocolates worth ₹200-₹300, saying they didn’t like them. Even though I was unsure if the company would take these returns, I accepted them. I believe that the customer comes back because they trust in me first and the brand second.”

The way forward

Drawing the conversation to a close, Ankit unveils his future plans for the supermarket. He articulates his vision to transform the supermarket into a larger format store, branching out into multiple locations, and embracing the franchise model. He also expresses a keen interest in expanding its online presence.

“Our vision for the future is to build upon the foundation laid by my father and expand the supermarket,” says Ankit. “Our goal is to transition from our current size to a larger store format, and subsequently establish a number of stores at different locations of varying sizes. Also, we want to explore the franchise opportunities and make our presence felt in the online retail space.”

Ankit further emphasizes the family’s long-standing commitment to the business and their aspiration to elevate it into a distinguished retail brand. “Our family’s dedication, spanning several years, drives our ambition to transform our business into a well-known retail brand. Our supermarket is not just a business operating within our locality, but it is a destination in the hearts of our customers. We envision taking this brand beyond the boundaries of our current two-thousand-square-foot supermarkets. Drawing upon the wisdom inherited from our parents, we aspire to broaden our reach and influence, nurturing our legacy into something far more magnificent,” signs off Ankit.

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Maggi’s first meat extender is currently available in Chile. Swen Rabe, Head of Nestlé’s Product and Technology Center for Food, commented, “Our team of experts and chefs developed a tailored solution that provides an equivalent amount of protein in an affordable way to consumers in Latin America. Our innovation ensures the familiar taste and texture of mincemeat, is shelf-stable, and easy to use.”

This latest innovation builds on Nestlé’s approach to developing solutions that combine animal and plant-based ingredients, maximizing nutrition, affordability, and sustainability. It follows the pilot launch of a shelf-stable, plant-based protein blend in 2022, which was developed to complement egg dishes in a nutritious and affordable way in Latin America.

In Central and West Africa, Nestlé developed an affordable and nutritious beverage solution made by combining milk and locally sourced soy.

Nestlé’s efforts to expand its food range also include Maggi Soya Chunks and Maggi Veg, both offering meat-alternative options to cater to the evolving dietary preferences of consumers.

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The startup plans to use the capital to scale its business and aims to achieve an annual revenue run rate of Rs 100 crore by December 2025. The brand’s strategy focuses on deepening its offerings within its core categories rather than diversifying into multiple brands.

House of Biryan currently has a 2% annual operating loss but aims to achieve single-digit profitability by December 2024.

Founded in 2022 by chefs Mikhail Shahani and Mohammed Bhol, House of Biryan specializes in biryani and other Mughlai and North Indian cuisines. The restaurant chain started with two cloud kitchens and has rapidly expanded to 12 kitchens across Mumbai and Delhi, with plans to grow its ghost kitchens to 30. The chain currently serves about 40,000 orders a month, with order sizes averaging between Rs 700 and Rs 800. The restaurant chain plans to deepen its offerings in biryani, kebabs, and other Mughlai dishes.

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Export performance in India and economic growth is interrelated because of the older historical importance of entrepreneurship in the country. The business acumen in India runs deep in the annals of history where India was a hub for trading activities and commercial centers were highly developed. There are numerous communities in India where entrepreneurial genes and risk-taking abilities are very prominent. This background outlines the specifics of modern economic activity and the development of new ideas.

The current scenario reveals that the Indian startup ecosystem has evolved in the past few years with three generation waves of entrepreneurial activities. Every wave contains the different types of businesses and ecosystems which have been built  under the impacts of social, regulatory, technological, economic, and cultural contexts. Out of the mentioned waves, the current wave is significantly notable due to the B2B models and deep technology and intellectual Property based innovations. Gradually, startups are presenting their products and services in a specific field with global perspectives in an attempt to solve intricate problems and target the global market.

ExportersIndia.com is another progressive leader involved in the B2B business. ExportersIndia.com is one of the largest B2B marketplaces where buyers from across the globe come to source products from Indian exporters. This has become the hub through which firms get access to the international market for exposure, contacts, and business relationships for service provision, product marketing, and sales, amongst others.

Over 60K active startups today run in India in a country that is charting to becomethe third-largest startup base globally – and operate across sectors like fintech, ed- tech, SaaS. These government schemes such as Startup India and Digital India have great utility in this growth where funding and some physical infrastructure are of paramount importance.

By 2023, the internet user base is likely to reach over 850 million in India which can turn out to be one of the biggest domestic markets in the world and point to representation of international ambitions. A few examples include Ola Electric, Freshworks, and Zomato are the examples of how Indian startups are looking globally and ready to carve a niche for themselves on the global map. Based on the experience of these companies, Indian startups are ready to become the leaders of the progress in technologies in the world, if they will receive the governmental support and access to the funds for the development.

It was found that Indian startups’ competitive advantage is in improving efficiency and innovation through technology and sustainability. Its factors include environmental, societal, and fiscal variables. This involves taking into account Environmental, societal as well as fiscal factors. To take the real-life example, the exporters must lean to sustainable manufacturing, waste minimization and supply chain efficiencies for cutting emissions. Considering sustainability as a core concept, Indian startups are able to increase their competitive advantage and attract the global market that focuses on sustainable approaches.

Furthermore, it should also be noted that the performance of the export sector depends on both national and international conditions. The performance of India in exporting its goods and services to other countries is influenced by major aspects within its domestic economy and globally, these include; performance in ease of doing business and other global trade agreements. Thus, the export strategy can make India’s exporters achieve sustenance, development, and networking for individual firms and the overall economy, technology development, and international partnership and cooperation.

The evolution of the Indian startup ecosystem from the environment that gave birth to idea to the one that is nurturing some of the world’s most innovative startups is a fascinating one. This is an unceasing story of innovation and spearheaded by policy mechanisms and most importantly, a qualified population. The Indian government has been very active in supporting the ecosystem for the startup through its programs like Startup India in this transformation. These initiatives enable startups to arrive at the necessary resources, and knowledge as well as financial backing they need in order to incite and grow.

In addition, currently, there are increasing numbers of technological ventures in India which show that the markets become more specialized and competitive. Most new ventures are now featuring the creation of intellectual property (IP) and coming up with innovative high technologies that are relevant to the world market. This is an evident trend with the market bearing the capacity in contributing to the home economy as well as carving a niche in the global market.

One of the prominent features of this evolution type is the factor of technology in increasing the productivity and success rates of organizations. Today’s Indian startups are applying such technologies as AI, machine learning technologies, blockchain technology, IoT technologies, etc. Thus, these technologies are not only assisting startups to find solutions to complicated issues but also allowing them to level the playing field in the global market.

For example, in the fintech sector, the startups are coming up with solutions which focus on opening access to basic financial services, creating efficient financial solutions to conduct transactions and also enhancing security. In the ed-tech industry, what business people are developing are platforms that provide good education to the students within and outside their region. Likewise, in the SaaS segment, Indian startup companies are now providing software solutions that can be demanded by business entities globally.

The best expositions to the information are such points: Today, Indian startups are successfully participating in the global market, and it indicates the increase of the country’s role in foreign trade. The expanding businesses across the borders in India are positively happening to the country by boosting its export figure and also further strengthening the country’s image as a hub of innovation and start-ups. The following are some of the factors that make it possible to extend the operations of the company across the globe; Current and favorable trade relations in global markets help in opening new markets of Indian services and products.

Hence, it can be concluded that India’s economic growth over the past decade has been significantly fuelled by the dynamic expansion of its export sector, particularly through the rise of the Indian startup ecosystem. Indian startups’ successful participation in the global market enhances the country’s role in foreign trade, boosts export figures, and solidifies India’s reputation as a hub of innovation and entrepreneurship.

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