Brand Tiger has dominated the soft news emanating from biscuit major Britannia in recent years. So here comes the latest: Britannia's Good Day, launched in the mid-80s, is now the company's top brand by value, along with Tiger.
A CAGR of 35% over the last three years aided by the increasing buoyancy in the cookies segment has seen Good Day emerge on top with approximately 20% share of Britannia's biscuit revenue pegged at around Rs 1,500 crore. The company's other foods portfolio involving cakes and breads together account for nearly Rs 175 crore additionally.
Good Day, one among the six pillar brands identified by the Nusli Wadia managed company, is now in the midst of a renewed market push backed by a new campaign highlighting the 'Goodness' of the product. Britannia spends over Rs 100 crore in marketing and advertising spend annually on these brands.
“The cookies segment has become more aspirational and is seeing increased traction. To put Good Day's significance, it is the top brand for us by value along with Tiger Glucose (variants not included),” Richa Arora, GM, Britannia Industries, told ET. Good Day's 100 mg pack is priced at Rs 12.
The cookies segment has seen increased action in the domestic biscuit market following the entry of freshly baked, premium priced brands like Cookie Man and Unibic. The product segment now accounts for 11% of the overall domestic biscuit consumption by volume and about 15-16% by value. It is expected to remain buoyant as cookies, considered 'western' till recently, is gaining acceptance as a family snack.
Observers say Good Day could dislodge Tiger as the company's top brand in value terms shortly. However, Ms Arora did not make a projection stating that “it is a function of the growth trajectories of the two brands”. The mass priced Tiger Glucose, which has led Britannia's volume growth, and helping the company's rural penetration as well, is projected to retain the top slot by volume rather comfortably.
Britannia is currently battling to beat back competition in its mainstay biscuit business, and has claimed that its volume market share has stabilized at around 32% and value share at around 38%. The domestic biscuit consumption continues to grow at 10-12% in volume terms but has seen competition intensify from the new big entrants like ITC Foods and regional price warriors.