PZ Cussons, a leading personal care manufacturer has embarked on a drive to grow its local market share for its flagship Imperial Leather brand and will be investing at least 35 million over the next three months.
The move, said the firm’s Managing Director Sekar Ramamoorthy, is aimed at growing its national footprint by tapping into the growth in purchasing power in counties outside the major cities.
“Devolution has led to a rise in incomes and diversification of consumer tastes, presenting us with an opportunity to deepen the availability of our flagship products,” said Ramamoorthy.
He pointed out that the company had timed this renewed vigor while recognizing that the current tough economy was driving consumers into brand switching led by cost consciousness.
“We are cognizant of the prevailing tough economic times that Kenyans are currently experiencing. The shifts in the macroeconomic climate have resulted in high cost of living, forcing consumers to make tough buying choices, particularly on personal care essentials,” he said.
According to a recent Kantar report, consumers are having to pay up to 20% more on FMCG products. In personal care, consumers have reduced frequency of purchase by up to 10% according to the same report.
Consequently, this has left the consumer in a dilemma; seeking affordability while still desiring the key benefits delivered by the personal care category to help them take care of themselves and their families.
“We are confident of local growth opportunities. We see significant potential for long-term market growth and are increasingly adopting a position and mindset of a ‘challenger’ – bringing scale by working with additional distribution points and delivering agility and strong consumer understanding,” said Ramamoorthy.
He noted that the firm will focus increasingly on using data and artificial intelligence to inform its business and marketing programs.
The consumer, added Ramamoorthy, is evolving and so is how to reach them. Millennials, Gen Z and Gen -Alphas are the biggest consumer base, with global data showing that 40% of purchases are made by Gen Zs who demand clear brand values and sustainability.
“By end of 2024, Imperial leather will have doubled in value from 2020 when the Covid pandemic hit. This has not been by happenstance, but a series of intentional business-wide moves against aggressive tides,” he explained.
With consumer inflation rates increasing, a key focus for the firm has been on better serving the cost-conscious consumer through targeting efficiencies across our supply chain, reducing the need to pass through inflation and using innovation and product portfolio to support the consumer at various price points.
One of these innovations has been the foray into the growing male grooming space, as signified by the latest move to sign up musical artiste David Mathenge alias Nameless to be the Imperial Leather brand ambassador.