Mumbai: Snacks major Bikano has announced the launch of three new products ‘Mexican Crunch’ and ‘Fun Sticks’ (two variants) to increase its market share and revenue stream in the western snacks category. Available at different price points, the new products are aimed at solidifying the brand’s presence in the western snacks market.
All three new launches will be promoted across channels like digital, retail and print media.
“The new launches provide us a means to target new markets and customers, increase market share, sell more and eventually increase our revenue streams," stated Bikano director Manish Aggarwal. "A wide range of products portfolio also gives confidence to the retailer and provides an opportunity to infuse new energy into the channel, thus increasing sales revenue. Treatos Mexican Crunch and Chatax Fun sticks are definitely going to work as fuel for growth.”
“The new work-from-home culture post lockdowns has grown the munching habit among people. Observing these trends, we believe that the snacks market is going to get even bigger. For the initial six months, we are expecting sales revenue of Rs 25 lakhs per month and will gradually attempt to achieve Rs one crore sales per month from these three products,” he further said.
Gen-Z and the millennial population are considered a big market by FMCG companies for the 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, said the brand.
“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,” said Bikano’s head of marketing Dawinder Pal.
“In Mexican Crunch, peri-peri is the most popular flavour. Also, it is 100 per cent 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 five years to 18 years,” added Pal.
