- Bajaj has launched a moisturizing almond soap – a premium product in the skin care segment.
- The price of the Bajaj soap is ₹53 for a 100g bar of soap and ₹25 for 50g, which corresponds to what their competitors are asking.
- The soap market in India is valued at ₹20,000 crore, which has changed consumer needs in the past two years.
Popular for its almond hair oil, Bajaj Consumer Care launched another premium product in the skin care segment: a moisturizing almond soap. It claims that their premium offering is budget friendly compared to other premium soaps on the market.
The price of the Bajaj soap is ₹53 for a 100g bar of soap and ₹25 for 50g, which corresponds to what their competitors are asking. However, the company believes that it provides enhanced hydration to the skin, giving it an edge over others, not to mention that it comes from the same stable as almond oil offering brand recall.
The company believes its product has a “value proposition” that includes competitive pricing.
|Soap||Market price for 100g|
|Vivel Aloe Vera||₹56|
Indian soap market is worth ₹20,000 crore
With this offer they want to target ‘all consumer segments’. “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, director of Bajaj Consumer Care.
The soap market in India is valued at ₹20,000 crore, which has changed consumer needs in the past two years.
Customers show a preference for soaps that do not dry the skin after bathing and prefer products that contain natural ingredients.
According to a report by Mintel, the majority of Indian consumers have started using medical soaps, especially during the pandemic, while 24% of Indians were more likely to use a liquid body wash such as shower gel, indicating that consumers have become more critical of the area. of skin care products they use.
During the Covid-19, people have focused more on their health and well-being, especially skin care, hair and general fitness. In fact, people have spent more money on these types of products, the report says. And this is the market that Bajaj wants to enter with its new product.
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