Bajaj Consumer believes that its premium offerings must be ‘affordable’
- Bajaj rolled out an almond moisturizing soap — a premium product in its skincare segment.
- The price of the Bajaj soap is ₹53 for a 100 gm soap bar and ₹25 for 50 gm, which is in line with what their competitors charge.
- The soap market in India is worth ₹20,000 crore, which has seen consumer needs evolving in the last two years.
AdvertisementBajaj Consumer Care, which is popular for its almond hair oil, launched another premium product in its skincare segment — an almond moisturizing soap. It claims that their premium offering is budget friendly as compared to other premium soaps in the market.
The price of the Bajaj soap is ₹53 for a 100 gm soap bar and ₹25 for 50 gm, which is in line with what their competitors charge. The company however believes that it offers enhanced moisturization for the skin – giving it an edge over others, not to mention that it comes from the same stable as almond oil offering a brand recall.
The company believes that its product is a ‘value proposition’ with competitive pricing amongst other advantages.
|Soap||Market price for 100g|
|Vivel Aloe Vera||₹56|
Indian soap market is worth ₹20,000 crore
Their intent is to target ‘all consumer segments’ with this offering.
“We are confident that the Bajaj Almond Drops branding of the soap will speak to customers’ sense of loyalty and trust and evoke the same response as our hair oil offering,” said Jaideep Nandi, managing director at Bajaj Consumer Care.
The soap market in India is worth ₹20,000 crore, which has seen consumer needs evolving in the last two years.
Customers have been showing a preference for soaps that do not leave the skin dry after bathing and prefer products that contain natural ingredients.
Majority of the Indian consumers, especially during the pandemic have started using medical soaps, while 24% of Indians used a liquid body wash format such as shower gel more, according to a Mintel report – indicating that consumers have become more discerning about the skin care products they use.
During the Covid-19, people have been focusing more on their health and wellbeing, especially skincare, hair, and general fitness. In fact, people have been spending more money on these types of products, says the report. And, this is the market Bajaj intends to bag with its new product.
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