The first-generation entrepreneur, Mr. Kunal Popat is the Founder of R for Rabbit, a baby products company. Inspired by the thought of providing safety-standard certified baby gear for their daughter, Mr. Kunal and Mrs. Kinjal Popat launched– R for Rabbit. His focus areas include spearheading research team, constantly innovating to meet the international trends and safety standards and business expansion. Mr. Popat has an engineering degree, but he later shifted his domain towards marketing, laying the foundations for him to become an expert marketer in the business. He has been in the industry for over two decades and is the director of marketing and business development.
Baby care products are of various kinds, and few are without doubt the necessity for every parent. There has been a sincere growth in the range and variety of products for babies. The industry has been growing and companies have been on their best to cater to all needs of parents and babies. From diapers to toys, bedding, furniture the industry offers all solutions for babies.
The baby care product market is primarily driven by the rising baby health concerns, including skin diseases and also the need for nutritional foods. However, the growing concern over safety standards and lack of awareness are likely to dampen the expansion of the industry.
Innovative products with minimum environmental and health hazards, let alone penetration within the untapped rural areas, are likely to drive the expansion of the market.
Within the span of a few years, the industry witnesses a splendid shift in the curve within the marketplace for baby products and services in India. Traditionally, baby services and products have remained withinside the sphere of the residence and the hearth. But because the beyond a decade or so, this has slowly evolved right into a worthwhile area of interest which has brought on each huge and small manufacturers to undertaking into this section with hopes of creating giant income withinside the same. A deeper delve into the sports of this marketplace indicates how this marketplace evolved and the big avenues of income in it.
With the sudden outbreak of the pandemic, the market for baby products rose. Various companies witnessed a major hike amid the coronavirus pandemic.
With coming times, the awareness for baby care has increased. Parents want just the best for their kids. Being at home, led people to keep a tap on products that benefit their kids from.
The sales of baby care products saw a mixed impact of COVID-19. the majority purchase of baby care products, primarily diapers, and baby food, drove the baby care products market during the pandemic.
With the pandemic, the new age parents found it easy to take the help of E-commerce. Being home and unable to have access to markets in 2020-2021, led to an increase in dependency. This has also been compounded by the very fact of rapid urbanization. This trend has been true for the Indian class nuclear families too. This in turn has raised the purchasing power of parents has also led to a rise in the demand for better and more diverse baby care products. The new-age parents are on the lookout for brands that don’t seem to be only easy to accumulate but also the simplest in terms of quality. So, brands which are providing products keeping these items in mind are ready to reap the rewards in terms of customer loyalty and profits for or their company.
A study by the research firm RNCOS revealed the very fact that the domestic baby and child care products and services market has reaped revenues of close $31 billion within the period of 2014-2019. consistent with the report by the firm Technavio, the apparel segment is accounted for 90% of the market, followed by toys at nearly 7% and baby cosmetics, food, accessories and diapers together constitute over 2%.
There are some companies that have monopolies and are now opening up to a diversity of their competitors and therefore, the segment itself is growin. The child care segment is growing and evolving.
The baby care segment has seen expanding its horizons and making the parents job a little easy. Seeing the market bloom, there are start-ups that have initiated the baby care products segments in their enterprise.
Not only this, but there has been active footfall in the baby care product stores. These kinds stores have not only increased in number but also has made it possible for people to reach out.
India is currently experiencing major demographic changes which can definitely impact the economic process of the country too. With the bulk of the people falling under the working age and also the rising bourgeoisie wealth, the arena is merely visiting see more progress within the coming years. Indeed, unlike the opposite categories, the baby-care segment has actually seen higher number of repeat purchases, with over 50% of the consumers being repeat buyers. Among this number about 60% of them are women buyers. If we glance at the net estimates alone, 15 baby care products are sold online every minute in India. Hence, in an industry which is dominated by some major brands, a competitive advantage may be gained by understanding what drives product choice. For this to happen product innovation, use of latest advertising revenues and better marketing strategies are the requirement of the hour.