Marketers Regret Not Pinning Focus On Quick Commerce
As we see some great case studies on how the quick commerce industry is burgeoning, leading brand builders repent not showing confidence in it in its early years
A marketer's job requires him to dabble with a plethora of challenges several times in his career. While these challenges may be internal or external, there is a certain amount of pressure that hovers over their head at all times. This in turn leads to decisions that may appear to be best at that time but affect a company's growth in the long term.
On that note, we spoke with the leading brand builders at the BW Festival of Marketing 2024 to understand if there was a marketing decision that did not go the right way or if there was something that they would have done differently to bring about better business outcomes.
Mukesh Ghuraiya, chief marketing officer, Modi Natural stated, “I come from the FMCG industry and one thing which I felt I could have given more importance to or maybe in some way I partially missed the opportunity is the buzz about quick commerce.” For him, some of the biggest opportunities were missed as the company kept Amazon and Flipkart in focus, giving Blinkit a miss.
Kunal Sharma, head marketing & business head of modern trade & ecommerce, KRBL, also agreed that Amazon and Flipkart were the go-to platforms for testing and getting feedback for their initial product launches. Today that loop according to him, happens much faster with quick commerce. He commented, “A year back, we never thought about the capabilities of quick commerce. Not only from a brand revenue perspective, but the kinds of dimensions it can give to a brand such as the kind of targeted sampling opportunities that quick commerce offers to marketers today for a new product launch is phenomenal.”
New technologies, such as quick commerce, are profoundly reshaping consumer sentiments by altering how people interact with brands, make decisions, and experience products.
As the speed of these technologies and trends in consumer behaviour accelerate, companies have to evolve quickly. The brands that deliver on consumer demands will thrive, and those that are slow to react will not survive.
On this, Sumeet Pahwa, head - brand marketing, Tata Tele Business Services shared, “The way the consumers make purchases has evolved a lot thanks to the advent of impressive technology, and consumer expectations.” According to him now people have adapted to simply making complex decisions. He said that there is a challenge for marketers on how they are present on the spectrum of key points and how capable are they of making the consumers make a choice.
