Marico: Using AI to map consumer trends, bring products to market faster

Fast-moving consumer Goods (FMCG) maker Marico Ltd is using Artificial Intelligence in flavour mapping, consumer trend spotting to develop its products and bring them to the market in a shorter time frame.

The maker of popular products such as Saffola Oats and Parachute hair oil has been able to use AI to determine the change in consumer demands in weeks, compared to years so far. 

“Artificial Intelligence is a part of the work we do. We use AI to help us pull up a lot of data, and analytics and to understand consumer preferences. Flavours in products are very regional, Korean and Mexican flavour profiles can be pan-India but there is a lot of regionality to our flavours and we use AI to do this flavour mapping. What could have traditionally taken one or two years to crack down on flavours, we can now do in weeks and months through AI,” Shilpa Vora, Chief Research & Development Officer of Marico Ltd, told businessline.

With intelligent use of AI, the company is able to determine consumer picks, reduce innovation time periods and create personalised tailor-made products that are ready for the markets.

“AI helps us to understand the trends and then we can decide if we might want to get into it. It assists in understanding how consumers are using and talking about our products. With data analytics available readily, AI is also helping the company to crunch innovation timelines,” she said. 

Consumer preferences

While the FMCG segment has witnessed a rise in healthier product alternatives among consumers after the Covid pandemic, Marico has seen consumers opting for convenience products.

“The uptrend among consumers that we are witnessing is of convenience. Consumers today are far more aware and conscious about what they are having, so they are looking for food products that deliver. They want the right nutritional content without compromising (on) taste. It is a combination of nutrition, taste and convenience,” she said. 

The company has launched Cuppa Oats to cater to consumer demand for convenient products. 

“We are market leaders in oats and have been on this journey since 2012. Convenience is what the consumers are looking for, which is why we have introduced Cuppa Oats, which can be made in 4 minutes. We have launched two variants – classic masala and spicy Mexicana,” added Shilpa Vora.