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Tier-2 and 3 consumers prefer second rung brands in noodles: OkCredit
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Chings, Yippie and Top Ramen, the three noodle brands standing next only to Maggi, the countrys favourite noodles are finding increased preference among the tier-2 and tier-3 population.
Maggi remains the undisputed leader in the noodles category, with a growing preference seen in tier-1 locations. While Maggi still remains the highest consumed even amongst tier-2 and tier-3 population, a change in preference has been seen in favour of the next in order brands.
Local brands are preferred in their home states owing to the factories and distribution network.
Parle emerged as the market leader in the states of Gujarat, UP, Rajasthan, Maharashtra, MP, and Chhattisgarh.
Middle-aged merchants are the most active users of the OkCredit app. Electronics saw a higher number of middle-aged users than other sectors.
More women from tier-3 towns use OkCredit for digital bookkeeping than those in tier-1 and tier-2.
These are a few among the several findings of a report done by OkCredit, a digital bookkeeping app. The app is used by mom- and-pop stores, essentially small and medium businesses (SMBs) to record credit, an integral part of transactions in India.
Given its reach to 95 per cent pin codes and more than 2.3 crore registered merchants, the platform has extensive data on consumption patterns across tier-1,2, and 3 towns. The report also highlights demographic trends in the adoption of digital tools such as bookkeeping by neighbourhood stores.
"SMBs are rarely a part of the mainstream conversation, even though a significant part of the GDP is contributed by them. Through this report, our intent is to bring SMBs at the centre of the conversation. They are the real monitors of the consumption story in "Bharat" and we are fortunate to have a pulse on that, through our network," said Harsh Pokharna, co-founder and CEO of OkCredit.
Contrary to the popular perception that women are usually missing from traditional businesses, about 7-15 per cent of users on OkCredit's platform are women. Interestingly, more women from tier-3 towns use OkCredit for digital bookkeeping than those in tier-1 and tier-2. The concentration of women is higher in apparel related businesses as compared to others.
