PepsiCo India forays into premium snacks segment with Lay’s Gourmet launch

PepsiCo, a multinational food, snack, and beverage corporation, has recently marked its entry into the top leading potato chip segment in India in an attempt to strengthen its snacks portfolio.

Under the brand Lay’s Gourmet, a premium slow-cooked kettle chips segment is positioned in the country’s fast-growing premium snack sector.

Commenting on the latest move, PepsiCo India’s Marketing Director of Potato Chips category, Shailja Joshi stated that premium snacks are a substantial part of the company’s business in international business.

Considering the macro-snacking developments, premium snacks are gaining traction in the country. Instead of inflationary pressure, this segment is progressing rapidly, and according to the market leaders, the segment offers significant growth opportunities nationwide.

Meanwhile, customers can now buy Lay’s Gourmet chips at leading retail stores and e-commerce platforms by paying $0.37 for a 55g packet and $0.63 for an 80g packet.

For now, the new product is available in three flavors - Thai Sweet Chilli, Lime & Cracked Pepper, and Vintage Cheese & Paprika.

As per credible sources, the firm has researched the entire flavour pool and has emphasized localizing it. The flavours have been decided keeping the Indian consumers in mind.

It is imperative to note that initially, the snacks and beverage giant will focus on distributing Lay’s Gourmet in the urban regions.

Joshi mentioned that the firm would also focus on modern trade stores and large traditional stores besides e-commerce platforms in line with their go-to-market approach for the new launch.

She further explained that some kettle chips products are available in the market; however, no one has developed the category.

As a result, the firm has structured Lay’s Gourmet to serve as a sensory treat for consumers who wish to have a premium taste.

According to sources, in July, PepsiCo announced its double-digit growth in snacks volume for Q2 in India. It further said that the premium snack segment of the firm is registering a growth of 20% year-on-year.

For the record, Lay’s will be releasing a campaign video for the launch, which will be followed by a 360-degree marketing strategy.

Source Credit - https://www.thehindubusinessline.com/companies/pepsico-india-enters-premium-snacks-segment-with-lays-gourmet/article65726075.ece