Marico doubles down on digital channel, plans for products at diverse price

The key to unlocking the potential of the digital sales lies in creating differentiated offerings for buyers who are both aspirational and self-assured about their brand choices

Fast moving consumer goods (FMCG) company Marico took a bold bet when it introduced its first digital exclusive brand Studio X in May last year. Ten months on, the company’s bet appears to be paying off with its e-commerce business growing four times between then and now. Online sales account for over 3 per cent of the company’s overall domestic business at the moment. For the third quarter of 2019, the company reported revenues of Rs 1,861 crore, logging a year-on-year growth of 15 per cent. So far, it has clocked more than Rs 150 crore of sales through e-commerce