In an insightful conversation with Ankit Daga, Head of Business Development at McNROE Consumer Products Private Limited, we delved into the strategies and visions that have positioned McNROE as a frontrunner in the competitive grooming market. Under Ankit’s dynamic leadership, McNROE, a leading name behind India’s favourite brands like Wild Stone and Secret Temptation, continues to innovate and adapt in a market that is constantly evolving. His passion for consumer products, market trends, and creating an empowering workplace culture shines through as he discusses the differentiation strategies, consumer insights, and future plans that aim to keep McNROE on its growth trajectory.
Q1. How does McNROE differentiate its brands – Secret Temptation, Wild Stone, and CODE – in a market crowded with lifestyle and grooming products?
In the saturated market of lifestyle and grooming products, McNROE sets itself apart through distinct differentiation strategies for its brands – Secret Temptation, Wild Stone, and CODE. Instead of adopting a one-size-fits-all approach, McNROE tailors its offerings to address specific needs with brands like CODE and Wild Stone, designed exclusively for men and Secret Temptation designed exclusively for women. The company distinguishes itself by transcending conventional norms, with a focus not only on standardized solutions but on catering to diverse lifestyles and needs. McNROE is committed to crafting products that align with individual preferences, fostering a brand persona that consumers can authentically connect with. Our dedication extends beyond mere appearances, championing holistic well-being, as we believe true beauty emanates from within.
Furthermore, we ensure the highest quality with a global appeal, acknowledging the diversity of our consumer base and communicating in a universal language that resonates worldwide. The company’s values, rooted in principles such as learning, integrity, family, and entrepreneurship, serve as the guiding force behind every product. McNROE views each product as more than just a purchase, considering it a symbol of passion, empowerment, and self-discovery, all meticulously crafted with care in India.
Q2. What strategies has McNROE employed to cater to the evolving needs of both male and female consumers in the grooming sector?
McNROE has employed several key strategies to cater to the evolving grooming needs of both male and female consumers. The company takes a dual-brand approach, with Secret Temptation focused on the female market and Wild Stone tailored to the male market.
For women, we have Secret Temptation that offers an extensive range of perfumes designed to embody quality and individuality. Through in-depth market research, the brand stays attuned to shifting trends and preferences in the female fragrance space. We constantly adapt our scents to align with the ever evolving desires of consumers. This allows Secret Temptation to remain at the forefront of innovation while delivering fragrances that resonate with their target female demographic.
Meanwhile, Wild Stone offers an extensive range of male-oriented grooming products, including perfumes, deodorants, and other personal care essentials. The brand distinguishes itself through its commitment to incorporating innovative, eco-friendly approaches in crafting its products. By dedicating resources to understanding men’s grooming needs, Wild Stone has crafted a product lineup that caters to contemporary preferences. Between the two brands, McNROE’s emphasis on consumer research, quality, innovation and brand segmentation has enabled it to successfully serve both female and male consumers in the grooming sector as needs evolve.
Q3. Can you share insights into how consumer preferences in India have shifted over the years in the grooming industry?
Over the years, we’ve observed a notable shift in consumer preferences within the grooming industry in India. The men’s grooming industry is experiencing significant growth due to this change in preferences and the modern educated male market is making informed choices towards their grooming habits. Recent data indicates that the global male grooming market is projected to reach $115 billion by 2028, a substantial increase from the approximately $80 billion recorded in 2022. In comparison, the market was valued at an estimated $74.8 billion in 2021.
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There has been a discernible move towards more personalized and tailored grooming experiences. Males increasingly prefer natural grooming brands to chemical-based grooming brands. This has led to a rise in demand for brands that are safe, natural, organic, and cruelty-free in recent years. Modern Indian consumers are also increasingly inclined towards products that not only address their specific needs but also reflect their individual style and preferences. This trend has driven us to focus on creating innovative grooming solutions, for Wild Stone, CODE and Secret Temptation, which is designed to meet the evolving demands of the contemporary man. Additionally, there is a growing emphasis on accessibility without compromising on quality, prompting us to invest in products that strike the right balance between affordability and effectiveness. Overall, the grooming landscape in India is evolving towards a more personalized, accessible, and discerning consumer base, and we are committed to staying at the forefront of these changing preferences.
Q4. What role does sustainability play in[1] [AR2] McNROE’s product development and corporate philosophy?
Sustainability is at the core of McNROE’s product development and corporate philosophy. As the green trend extends to the personal care industry, McNROE actively incorporates eco-friendly practices into its offerings. In response to the growing demand for natural ingredients, we align with the preferences of today’s millennial and Gen Z consumers, ensuring that our products cater to their desire for natural skincare solutions. Our commitment goes beyond consumer trends; it’s a fundamental approach embedded in our ethos. We take inspiration from industry leaders like Dettol, P&G, and Unilever, striving to develop greener product lines. By prioritizing sustainability, McNROE contributes to a cleaner, healthier planet while meeting the evolving grooming needs of our audience.
Q5. How has the pandemic impacted the grooming industry, and what changes has McNROE made in response?
- The pandemic has profoundly impacted the grooming industry, revealing shifts in consumer priorities and preferences. COVID-19 forced individuals into a hiatus, prompting self-reflection and a re-evaluation of priorities. This introspection fueled a transition from beauty consciousness to a focus on self-care. McNROE recognized this shift, adapting our approach to align with the changing mindset. During lockdown, there was a surge in demand for grooming products, emphasizing the growing market potential. The rise of e-commerce further fueled industry growth, with platforms like Nykaa expanding into men’s grooming.
- McNROE strategically incorporated community-building initiatives and narrative development, acknowledging the significant impact of social circles on consumer preferences. In the aftermath of the lockdown, patrons have displayed a heightened inclination towards experimentation, displaying a notable interest in acquiring knowledge about products and displaying a preference for nourishing alternatives as opposed to merely stylistic options. Despite the adversities faced, the pandemic has presented a unique opportunity for the industry to fortify its rapport with consumers and redirect its focus towards the fundamental aspects of grooming.
Q6. What are the key trends you foresee in the grooming industry over the next five years, and how is McNROE preparing to meet these changes?
Looking ahead, there are several key things and trends that we are closely monitoring:-
- Growth in the Men’s Grooming Industry
The men’s grooming industry is experiencing a remarkable surge, the global male grooming market is expected to be worth $115 billion by 2028, up from nearly $80 billion in 2022. The same market was worth an estimated $74.8 billion in 2021.
This trend opens a substantial avenue for McNROE, particularly benefiting our brand, CODE, crafted to meet the grooming requirements of the contemporary man. Our ongoing investments are dedicated to creating products that cater to the specific needs of modern men in India, ensuring accessibility without compromising on quality.
- Quick Commerce and Gifting
With Q-commerce platforms offering swift deliveries within hours, consumers can seamlessly find and send personalized gifts, transforming traditional shopping experiences. The Quick commerce market is expected to exhibit a compound annual growth rate (CAGR 2023-2028) of 41.11%, fueled by mobile accessibility and innovative delivery models, the trend caters to changing consumer expectations and underscores the importance of speed and personalization in the retail landscape.
We have introduced several offerings, like the Secret Temptation perfume roll-on pack and Wild Stone perfume gifting kits that are available on all major Quick commerce platforms to maximize the appeal and meet evolving consumer preferences.
- Personalization in Beauty
Consumer preferences are becoming more individualized, and personalization is a key trend. We are exploring ways to offer customizable fragrance options and experiences, catering to the diverse tastes of our customers.
Q7. Could you elaborate on the R&D process at McNROE [AR3] and how it drives innovation in your product lines?
McNROE’s R&D team has celebrated remarkable achievements, securing three prestigious patents and developing an innovation cell dedicated to crafting grooming products tailored for the ever-evolving Indian market..
Acknowledging the increasing significance consumers attach to sustainability in 2023, we’ve revamped our approach. We are now prioritizing natural ingredients, eco-friendly packaging, and responsible sourcing, showcasing our dedication to the environment and meeting the expectations of our conscious customers. This shift prompted a dynamic response, including the swift implementation of SAP for a robust ERP system. Not only did this set a new industry benchmark, but it also demonstrated McNROE’s agility in adapting to technological advancements. This optimization of internal processes positions us as industry trailblazers, embracing state-of-the-art solutions for sustained growth. Our commitment to research and development remains unwavering, driving ongoing innovation in our grooming product lines.
Q8. Finally, what is your vision for McNROE’s future, and how do you plan to maintain its growth trajectory in the increasingly competitive grooming market?
Our vision for McNROE’s future is grounded in innovation, adaptability, and a steadfast commitment to meeting the dynamic needs of consumers in the grooming market. To maintain our growth trajectory in the face of increasing competition, we plan to continue investing in research and development, ensuring that our products remain at the forefront of industry trends. With the grooming market growing at an exponential rate of CAGR 8%,we aim to enhance our portfolio and contribute as much as we can to this upward trajectory with cutting-edge grooming solutions that resonate with diverse consumer preferences, emphasizing quality, accessibility, and personalization.
As our conversation with Ankit Daga concludes, it’s clear that his leadership is a beacon for McNROE’s future aspirations in the grooming industry. Ankit’s commitment to innovation, understanding of market dynamics, and dedication to fostering a supportive and inclusive work environment have not only propelled McNROE to its current success but also set a solid foundation for its future. With a vision that encompasses both the growth of the company and the well-being of its employees, Ankit is steering McNROE towards new heights in a competitive landscape, ensuring that it remains at the forefront of meeting the evolving needs of consumers while maintaining its ethos of quality, integrity, and sustainability.