Trade-in India – Diverse Customers, Diverse Opportunities
Metro AG is a German multinational company based in Düsseldorf. It operates business membership only cash and carries stores primarily under the Metro brand. As a matter of fact, METRO AG operates as a food service company and is the country’s biggest and leading wholesaler and distributor of food and non-food assortments. With over 16 million customers, the company operates in 34 countries. On the other hand, in the financial year 2019-20, METRO generated sales of €25.6 billion.
Metro AG is functioning in India since 2003 and at present, it has 28 stores in India with 5000 employees. Hiring a partner in India helped them smoothly establish their business in the country.
On talking to the Head of International Affairs of Metro AG, we understood that hiring the right people and having the right structure in place really helps to establish in India.
- It helps to overcome the huge regional differences
- Supply chain challenges
- Differences in the rules and regulations, and
- Better understand the consumer needs.
Above all, what truly helped the company grow in India is its “local sourcing strategy”. The company is highly localized. Keeping the local preferences in mind, 98% of their products are sourced from the Indian market. Moreover, they work with 5000 local suppliers to fulfill the local needs of their customers.
You can drop in your details at firstname.lastname@example.org to avail the full recording. You can hear it out to understand how Metro AG is trading in India with a diverse customer base and tapping the opportunities.
Selling in India – This is how Dr. Oetker does it!
To begin with, Dr. Oetker is a German multinational company that sells baking powder, cake mixes, frozen pizza, pudding, cake decoration, cornflakes, and various other products. The company started its business in India in the year 2008.
India is a unique market with a diverse consumer base. Moreover, there was no baking culture in India back in 2008. Hence, the session focussed on how the company managed to sell its foreign products in India? The answer lies in their approach. With this intention, the key takeaways from Mr. Oliver Mirza – Managing Director & CEO, Dr. Oetker India session were:
- Shifting approach: Shift of focus from being “product-centric to consumer-centric”.
- Consumers First: They focused on their consumers and accordingly introduced products that cater to them.
- Localize your strategy: They focused on the local market, local preferences and accordingly designed their sales strategy.
You can drop in your details at email@example.com to avail the full recording. You can hear it out to understand how Dr. Oetker is selling their foreign products in India and making it big in the Indian market.
How to sell successfully in India?
The Indian market offers immense opportunities to foreign companies doing business in India. To begin with, the global consumption share of the middle class in India is estimated to range between 25% and 60% by the year 2050. Moreover, the income of people in India is growing day by day and is expected to increase 750% i.e. above USD 22,000 by 2025. The statistics above highlight the potential of the Indian market in the coming years.
Therefore, focusing on diversity, market structure, and customers are the keys to sell in India. Other success factors include knowing the market well, having realistic targets, efficiently structuring your sales in India, focusing on the business, and leaving the administration and bureaucracy to professionals.
If you want to know more about Mr Maier’s presentation for the session, you can fill in the below form.
M+V offers support to foreign companies looking to enter the Indian market or expand their existing business in India. For more information, get in touch with us on our email id firstname.lastname@example.org.