While promoting alcohol in India used to be an arduous, if not impossible, task due to restrictions on conventional media and cultural norms, the internet era has more than removed the curtain. Even as traditional labels explore new ways to promote their age-old spirits, social media users, platforms, and entire ecosystems are facilitating the promotion of newly uncorked domestic beer and alcohol businesses.
And new customer cohorts are constantly entering the market. With a market value of $52.5 billion (approximately four lakh crore INR) in 2020, India is one of the world’s fastest-growing alcoholic beverage markets. Between 2020 and 2023, the market is estimated to increase at a 6.8% CAGR (ICRIER 2022).
She claims that the 157-year-old brand aspires to achieve five times its present business results in the nation by 2030 and that it is on course to meet that goal. “India represents an exciting development potential for us because it is the world’s largest market for whiskey (185 million cases), rum (31 million cases), and brandy” (55M cases). Given our worldwide leadership in rum and ownership of the most recognized whiskey portfolio, we are set for fast expansion in India, she adds, noting that the IWSR 2020 lists India as the second-largest market by volume and value (280 million cases sold and $16 billion in sales) in the categories that Bacardi competes in (mixed drinks, spirits, and wine).
Meta-cheers
Vilcassim elaborates on Bacardi’s ever-evolving marketing methods, stating that the pandemic prompted the company to shift toward providing unique virtual experiences for its audience and TGs to keep them engaged. “Convenience, comfort, and curiosity are three major tendencies that have intensified in recent years.” In order to reinvent our current properties for the “new normal”—or more accurately, the “new future”—we took a close look at them. She claims that we have been able to maintain our national growth trajectory thanks to our marketing techniques.
This, of course, entails adopting developing adtech and martech technologies like the metaverse and digital immersion. “There has been rapid digitization during the last two and a half years, and a new era is coming.” The line between the real and digital worlds is becoming increasingly blurred, and some may argue that there is none at all. The epidemic has only increased our interest in cutting-edge martech experiences, she adds.
Regardless, Bacardi is a member of the International Spirits & Wines Association of India (ISAI) as well as the Advertising Standards Council of India (ASCI) (ISWAI). Working within the market’s rules and regulations is something we always have done and always will, Vilcassim adds.
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