New Delhi: Prashant Peres, Managing Director – South Asia at Kellanova, called Phygital Retail Convention (PRC) a “unique space” that can help retailers and manufacturers come together to discuss the retail industry. The Convention can also build an agenda around category building, Peres added.
“Too often the retail space is dominated by a single premise – which is discounting,” he said. “I believe there is a huge opportunity for retailers to come together with manufacturers and say how do we build a category, how do we add value? Because discounting actually takes value away from a category if it doesn’t grow proportionately.”
Peres sees such a collective effort by both manufacturers and retailers could be a “win-win” for all, including consumers who can try new products and understand the benefits of new categories. He believes PRC will foster a dialogue around such categories among retailers, competitors and manufacturers.
He also added that the year 2023 was a tough year for retailers due to inflation which impacted consumers’ budget and consumption. “We are happy that our brand has continued to grow in penetration, but we know that consumption levels are not where they were a couple of years back during COVID times, for instance,” Peres said.
Kellonova has continued to grow new categories and has launched new products at the upper level and premium level such as various kinds of Muesli and middle and lower products including cornflakes packs for Rs 10, he added. In October last year, breakfast food major Kellog’s rebranded itself to Kellanova as part of a drive into the snacks sector to sell more on-the-go products.
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