Brand visibility made better

Dubai is home to a myriad of FMCG products. It is then obvious that if you do not strategiseyour entry correctly, your brand will be lost in the process. To optimise into a new market, it is prudent to hire an expert consultant who gives you the right ropes.Abhinav Srivastava, Chief Executive Officer at Emerald Group, explains why

For a new organisation aspiring to capitalise opportunities in the FMCG sector, the journey can be challenging without expert advice. Understanding the consumer needs and buying pattern in an international setting can be taxing without local assistance. Moreover, following legal and operational guidelines in the absence of guidance can add to the strenuous process. Specialised consultants can assist in establishing a systematic approach to solving these problems. For new firms, FMCG offers a way to diversify across product lines and cater to an ever-growing demand for consumables. UAE extends a strategic location and state-of-the-art infrastructure to all such firms wishing to start. The UAE's economy is thriving with an expanding consumer base, a boost in consumer confidence, increase in tourist arrivals, investor friendly environment and international events such as Expo that drive expats into the region. All these factors contribute towards an augmenting FMCG sector despite the ongoing pandemic.

The initial stages of deliberation on product offering along with the timing of product launch can acutely affect your company's growth and future direction. In the FMCG market, companies can create scale either by being a minor player in a large market or a significant player in select categories. A specialised consultant assists in understanding the costs and benefits to each approach and facilitates a customised solution based on your company's vision. Entering a new market with innumerable competitors can be daunting. Consultants working in this sector help map competencies of global and local competitors to identify gaps in the market that can be capitalised. The emerging opportunities in the food and non-food sectors add up with the favourable business outlook in UAE to deliver a fertile space for businesses wishing to start. Consumers in the UAE are becoming more health-conscious and seeking organic substitutes for their everyday consumption needs. The UAE market offers new entrants a scope to capitalise on this trend. It calls for diversified products in the health and wellness category, distinctive marketing strategies and futuristic ways to interact with the consumers. Beauty and personal care products are among the top non-food categories that have gained momentous demand in the UAE. These trends along with the insatiable demand for coffee, chocolates and ice-cream in the food sector encourage new entrants to diversify into this market and find their niche.

UAE has strong cultural traditions and a significant share of its population constitutes expats. Expatriates and immigrants account for 88.52 per cent of the population. For such a diverse population, landscaping the consumer segments and identification of a large niche within the market is the go to strategy. We collaborate with local professionals and stakeholders every step of the way. We identify, develop and differentiate different sales channels for your company's expansion. In a market dominated by ever changing consumer preferences and behaviour, a good consultant can help optimise your organisation's positioning of price and promotions by aligning it with your expectations.

To be at par with a digitally savvy consumer base through market intelligence tools is a necessary part of growth. It assists in continuously evaluating and categorising reasons defining your growth. Investment in data analytics at a time when only a few companies incorporate it in their businesses in the UAE allows new entrants to have an edge over their competitors. A few ways in which we can utilise data analysis involve the evaluation of the impact of a promotional or marketing strategy, access real-time data on sales and study customers' buying patterns comprehensively. Estimating and predicting consumer behaviour allows organisations to efficiently manage their inventories, streamline or diversify product ranges and change the display of products to cater to identified customer preferences.

The optimal strategy for new entrants in the FMCG space is to capitalise on the above-mentioned trends and tools. We, at Emerald Group, assist in breaking down the entire process and setting up easy entry for startup, walking every step with you in your journey towards growth, providing local support. The team strategises end-to-end, from understanding the business registration and legal requirements to pinning down the company's target market and engendering its business in the UAE. The team offers expertise gained through a wide range of global cases and from highly qualified professionals and relevant local presence in the region.

• Business and Technology Review