Bacardi Plans 5x results for India by 2030: ‘ZeenahVilcassim’

The world's largest privately held spirits company, Bacardi's brand portfolio comprises over 200 brands and labels, including Bacardi Rum, Grey Goose Vodka, Patron tequila, Dewar's Blended Scotch Whisky, Bombay Sapphire Gin, Martini vermouth and sparkling wines.Other well-known and up-and-coming brands include Eristoff vodka, William Lawson's Scotch whisky, and 100% blue agave tequila from Cazadores. Bacardi Ltd., established in Santiago de Cuba more than 160 years ago, currently employs over 8,000 people, has active manufacturing sites in 10 countries, and sells its brands in more than 170 nations. Bacardi Ltd., which includes Bacardi International Ltd., is part of the Bacardi group of businesses.

The Indian Council for Research on International Economic Relations (ICRIER) predicts that by 2030, 26% of Indian customers will switch to high-quality brands, and 24% will spend money on new alcohol categories. Considering the market's interests, Dewar's introduced Dewar's 8-Year-Old Japanese Smooth Mizunara Oak Cask Finish Scotch Whisky in India. It is a part of the popular Cask-Finish Innovation Series from the company.

In an interview with Adgully, ZeenahVilcassim, Director Of Marketing, Bacardi in India, stated that "Our dedication to localization is rooted in knowing the peculiarities of the Indian customer" is one of the fundamental adjustments we have made to the entire marketing strategy at Bacardi in India this year. Excerpts from the conversation:

How is Bacardi developing its brand positioning by utilizing consumer insights?

Consumers are always at the center of all we do at Bacardi in India. Our goal is to be where our customers are; our north star metric is our dedication to enhancing their experiences. We identify significant customer choice trends by continually examining what inspires and drives them. Understanding consumer insights enable us to communicate with them in more meaningful and pertinent ways.The Bacardi NH7 Weekender, for instance, which is now in its 13th edition, not only exemplifies the Bacardi positioning, which is all about inspiring people to do what moves them while also creating new opportunities for us to connect with their friends at the festival they love, it has also seen tremendous success as the go-to festival for music enthusiasts.

This has been made possible because we are dedicated to improving the customer experience and endevour to learn what they desire. This perspective is what helps us stand out in this crowded category landscape.

What marketing techniques has Bacardi employed this year?

Our dedication to localization, rooted in understanding the nuances of the Indian consumer, is one of the critical changes we have introduced to the overall marketing strategy at Bacardi in India this year. We consistently leverage the entire marketing mix while working within the regulatory landscape. India is a diversified market with a wide variety of people, cultures, and consumers. By speaking to these distinctions in your ads, you may stay truly relevant for customers.In India, we have made significant investments in market research over the past two years, and this has helped us identify what works and doesn't for various markets there. This year, the goal is to continue adhering to our worldwide brand strategy while establishing meaningful connections with our customers on a local level.

What plans does it have to expand the product offering in India?

When it comes to interacting with our customers, product innovation is essential. We will constantly aim to offer goods and brands that provide value to the Indian customer, who is searching for a better drinking experience. We have a diverse global portfolio of over 200 brands, of which 28 are in India. With the introduction of Indian-produced whisky Legacy, Dewar's Japanese Smooth, and Good Man brandy during the past few months, we have expanded the selection of brown spirits available in India. One can anticipate more competitive and exciting innovation in this category as well, as we have our sights set on positioning Bacardi in India as a significant player in the brown liquor market over the next five years.

How does Bacardi's experience curation align with the ambitions of its customers?

Regardless of their location, we at Bacardi in India constantly strive to enhance the experiences that our customers desire. Because customer desires are temporary, we must ensure that we adapt to the changing consumer landscape, which is both challenging and fascinating. This suggests that we should modify our experiences to reflect shifting consumer preferences.The lockdown, when we successfully pulled off a 4,000-attendee virtual event for the debut of Casa Bacardi in 2019 and committed to an entirely virtual experience with BVS Season 5 during the pandemic, served as a shining example of the agility and inventiveness that we stand for.

This year, we have again adapted by hosting events like the 13th edition of the Bacardi NH7 Weekender and the sixth season of the Breezer Vivid Shuffle on-ground for the first time since the epidemic.

To bring our customers closer to the experiences they like and care about, we will continue embracing adaptation, agility, and inventiveness in the coming years.

How is the brand putting more of a premium on its products?

With 26% of Indian drink customers likely to switch to higher brands by 2030, premiumization presents a massive opportunity in India. As the world leader in premium spirits, we are pleased about the chance to excite our consumers through the range and quality of our premium portfolio. Today's consumers want to drink less but better and are open to new experiences. Over 200 brands are included in our global portfolio, of which 28 are in India. We will have the chance to bring relevant brands to the discriminating Indian customer seeking a superior drinking experience as the premiumization trend gains traction across the nation. We recently launched a variety of spirits in the category in India, including Dewar's Double Double, Dewar's Japanese Smooth, Bacardi Ocho, and others, in light of our focus on premiumization.

How is Bacardi's concentration on whisky doing in India? How has the behavior of whisky consumers changed throughout time, and how will it continue to change?

Given that it is the world's largest whisky market in terms of volume, India offers us a fascinating prospect for expansion. Although we dominate the white spirits market in India, consumer trends suggest that the dark spirits market is poised for its next stage of development. This piqued our interest in the category, and it's also why Bacardi in India is looking to increase the size of its already sizable dark spirits portfolio.

Currently, all of the big competitors in the market lack differentiation and continue to play on classic whisky clichés; everything from packaging to communication is standardized. To position Bacardi in India as a significant player in the whisky market, we recently introduced several dark spirits, including Good Man, our first-ever in-house brandy in India, Legacy, our first Indian-made whisky, and Dewar's Japanese Smooth, a blend of the finest elements of the whisky-making traditions and cultures of Scotland and Japan in a bottle.

How did the epidemic affect the expansion of Bacardi?

The marketplace has undergone a complete transformation as a result of the pandemic. Businesses were forced to shift toward a virtual workplace as more individuals began to spend money and engage online. Convenience, comfort, and curiosity were three significant themes that gained momentum simultaneously as more time was spent at home. This increased demand for products that were accessible at home and convenient, and simple to use. We have been inspired to examine our current properties and re-invent them for the 'new future,' which is undoubtedly a hybrid due to the pandemic's discerning preferences.

We have positioned ourselves to take advantage of all these trends to overcome the pandemic-driven slowdown to deliver 5x business results in India by 2030. As a result, the nation has been seeing exponential expansion. We will continue to be relevant to our consumers through a diverse mix of channels and continue on our growth trajectory in India for years to come, focusing on innovations that engage consumers on the ground and digitally for at-home events.