To introduce an unerring product proposition in the overseas market, Fast-Moving Consumer Goods(FMCG) maker Marico Ltd is using Artificial Intelligence (AI) to spot consumer insights in its international operations.

The FMCG maker also uses AI to observe trends in the domestic market. If the trends correspond the products are tweaked and introduced in the company’s international geographies. 

“FMCG markets have a unique consumer mindset. A great proposition for the Indian market, might not be a good proposition for Vietnam or the Middle East markets. The overall AI offering, we deploy in the Indian market and fine-tune it in the country, we then take it to other geographies to gain similar insights and iterate quickly to offer products that are relevant to those markets.”

“Largely we pilot in the domestic market in one product category and segment and then stabilize both from a technology and analysis perspective,” said Vrijesh Nagathan, Chief Information & Digital Technology Officer, Marico Limited to businessline.

Marico in the international geographies operates in South Africa, the Middle East, Egypt, Malaysia, Vietnam and Bangladesh markets. The international business comprises 26 per cent and has delivered a healthy growth rate in the last three to four years for the company.

Further, Marico is eyeing acquisitions in South Asia as part of its strategy to ramp up growth in the region.

“The company looks for adjacencies in our overseas markets which are notable in size, for example, Bangladesh, South East Asia. Once that is done the international geography teams of that area work on the product to make it relevant.”

“The products are tested in different markets to understand if they can become a global capability for all the markets in which we operate. Establishing this and stabilizing in the domestic market could take two to three quarters and another two to three quarters to take it to other markets,” added Vrijesh Nagathan.

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