Following today’s news (Tuesday 16 July) that Hindustan Unilever (HUL) is poised to launch a laundry brand from their Love Home and Planet line which offers vegan and plant-based, homecare products as reported by The Economic Times, Nabila Azmatulla, Consumer Insights Analyst at GlobalData, a leading data and analytics company, offers her view:
“The news that HUL is set to launch a laundry brand comes at a time when consumers increasingly prefer brands that convey sustainability aspects through their product packaging.
“According to GlobalData’s 2018 Q3 consumer survey, 71% of Indian consumers say that how ethical/environmentally-friendly/socially-responsible a product is, always/often influences their product choice. HUL aims to ride on the growing wave of interest in eco-friendly and ethically sourced products which will provide the company with a competitive edge as it aligns itself with the shifting landscape.
“It is imperative that HUL remains competitive as Future Group plans to cut the shelf space of FMCG giants by a third in the laundry segment. Furthermore, Future Group aims to increase its share in the segment and has already launched its own liquid detergent brand Voom to this effect.
“GlobalData sizes the textile washing products category at approximately INR 30,000 crores of which HUL boasts 29% market share including flagship brands such as Rin, Surf Excel and Wheel. HUL has been focusing on its premium portfolio as incomes have risen and awareness of premium brands has increased.”