Technology, Innovation and Invention are Transforming the Spice Industry

A LOOK AT HOW INCREASING RELIANCE ON TECHNOLOGY, CREATIVE INNOVATIONS ACROSS MANUFACTURING, PRODUCT CONCEPTUALIZING, MARKETING, AND OPTIMIZED BUSINESS MANAGEMENT PROTOCOLS HAVE BECOME THE NEW NORM OF THE INDIAN SPICE INDUSTRY POST THE COVID-19 PANDEMIC.…

2020 has delivered a VUCA disruption like never before. Since the pandemic hit, the entire retail industry has been evolving by the day. Just like the shifts in societal and economic order, the COVID-19 pandemic has brought about significant changes in consumer behavior. Consumers across the world have changed in massive proportions and are continually developing newer habits, compelling brands and retailers to continually bank on innovation and new age technology to explore newer business models.

While it is true that the food and grocery industry was spared of the horrors that non-essential retailers were faced with during the crisis, this industry too was influenced by the pandemic and the subsequent lockdown. Even though things have stabilized now, the fear of the contagion continues and businesses across the FMCG segment are compelled to make major overhauls both in the way they manufacture and retail their products.

Just like other FMCG segments, the Indian spice industry was no exception to this reality, and has witnessed significant disruption over the past few months. As a result, businesses operating in this segment have been compelled to streamlined their brand portfolio, and continually innovate in all aspects of their operations right from product development and in-store services to marketing strategies, so as to appeal to consumers, who have now become more discerning than ever before.