In the fiscal year 2022-23, India experienced a substantial surge in the demand for luxury and premium imported chocolates, importing US$ 27.84 million worth of chocolates, marking a remarkable 45% Year-on-Year increase, as per a recent report.
At Markelytics, we recently conducted a study on the imported chocolates market in India, uncovering 15 transformative insights for chocolate brands aiming to excel in their business expansion plans. The study included a diverse demographic, consisting of 55% male and 45% female respondents across 10 major Indian cities, all aged 18 and above. Among these respondents, 75% were from metro areas and the rest were from tier 1 cities. Explore the insightful findings below:
1. Chocoholics Unite: The 22-30 & 31+ Age Groups Dominate the Chocolate World
Sink your teeth into this statistic: 86% of premium chocolate enthusiasts belong to the 22-30 and 31+ age brackets. Chocolate businesses, set your sights on these demographics; they’re your golden ticket to success!
2. City Lights, Chocolate Delights: 75% of Choc Lovers Call Metros Home
Urbanites can’t resist a good chocolate fix! Chocolate companies should channel their marketing efforts into city landscapes; they’re the bustling hubs where your consumers reside.
3. Online Cravings: 75% Prefer Clicks Over Bricks for Chocolate Purchases
In this digital era, the chocolate world spins online! Craft a compelling online presence for success through sleek websites and captivating digital campaigns.
4. Sweet Spot Spending: Rs. 1001 to Rs. 5000 – Where the Wallets Open Wide
This spending range captures consumer’s hearts. Craft products and offers within this price bracket for substantial sales.
5. Health Buzz: 58% Seek Health Benefits in Their Chocolates
Appeal to health-conscious consumers by highlighting the health perks of your treats.
6. Flavour Frenzy: 57% Crave Premium & Unique Flavors
Satisfy those taste buds! Showcase your unique flavour concoctions to entice the majority of consumers driven by their palates.
7. Uniquely Irresistible: 56% Love Chocolates for Their Uniqueness
Craft a narrative around your chocolate’s distinctiveness. Uniqueness sells—highlight what sets your chocolates apart.
8. Gift-Worthy Goodness: 52% Buy Chocolates for Gifting
Gift-giving goldmine alert! Capitalize on this inclination by offering special gift packages or limited-edition collections.
9. Self-Love in Chocolate: 86% Choose Chocolates for Personal Consumption
Create an indulgent self-care narrative! Chocolate marketers should emphasize the joy of self-indulgence to cater to the majority who buy for personal pleasure.
10. Family Feasts: 81% Purchase Chocolates for Family Bonding
Chocolates, the glue for family gatherings! Create family-oriented packaging or deals, drawing in the sizable chunk purchasing for shared enjoyment.
11. Friendship & Chocolate: 52% Buy for Their Buddies
Celebrate the joy of sharing! Create social-sharing campaigns or limited-time friendship bundles to capture this market.
12. Emerging Town Temptations: 25% Love Chocolates in Emerging Towns
Chase new horizons! Entrepreneurs can explore emerging towns as potential growth areas through targeted campaigns and local engagement.
13. Customization Craze: Tailoring Chocolates to Diverse Desires
Personalize the chocolate experience! Businesses can offer customizable options to cater to varied tastes and preferences.
14. Data-Driven Decadence: Personalized Marketing for Every Demographic
Get savvy with data! Utilize consumer segmentation to curate personalized marketing strategies for different age groups and demographics.
15. Constant Adaptation: Staying Ahead Through Consumer Engagement
Stay nimble and evolve! Engage with consumers regularly to adapt products and strategies to their ever-changing preferences and needs.
Understand the immense market potential of the imported chocolate industry in India. Feel free to reach out to us at sales@markelytics.com and discover how we can assist you in seizing and maximizing this booming opportunity for your business expansion.