“Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius — and a lot of courage to move in the opposite direction.”
Mini beauty and personal care products are becoming increasingly popular among Millennials. Driven by the opportunity to try new products at a lower cost, as well as travel-friendly convenience for on-the-go lifestyles, it fits consumers seeking new solutions with product trials.
The ultimate goal for the mini category is to give customers exactly what they want, but in a smaller format that’s customized to their personal needs. Establishing a good user experience that’s similar to that of full-sized products will create big ideas for the appeal of minis in the future.
So, what’s next for fun-sized packaging? Beyond what already exists like- Pocket sized Deodorants, Shampoo sachets, Functional-yet-comfortable tiny homes.
In the last six months, several fast moving consumer goods (FMCG) companies across categories have launched either smaller product packs, stock keeping units (SKU) in marketing parlance, or affordable versions of their premium products in a market impacted by weakening sales and low consumer confidence. For instance, FMCG giant Hindustan Unilever Ltd (HUL) has launched a R3 sachet of its premium haircare brand, Tresemm, apart from pushing a new 50g bar of its Dove soap for R22. PepsiCo India, on the other hand, is selling a powder version of its premium juice brand Tropicana in sachets for R10 in select markets including Mumbai, Chennai, Pune and Bangalore. Interestingly, Pepsi also retails smaller pack sizes of flavoured variants of Quaker Oats at Rs 10. Similarly, JK Helene Curtis Ltd, part of Raymond Group, has launched a smaller variant of its premium deodorant brand Park Avenue, 40 ml at R59. Next, Parle Products sells its premium biscuit brand Hide & Seek Bourbon (44.5 gm) for R5 and Hide & Seek (25 gm) biscuits for R5. Meanwhile, chocolate company Cadbury too is pushing its R5 pack of cookie brand Oreo. Nestle India on the other side is selling premium chocolate Alpino in a pack of two bonbons for R25.
Rajat Wahi, partner, consumer and retail, at management consulting firm KPMG in India says that the main reason behind the sudden spur in launching smaller SKUs or affordable products is a weak economy
Another trend that has led to the big appeal of mini sizes is consumption-on-the-go. Millennials, in their fast paced life, would like to carry things along with them which can be used on the way instead of spending time separately using them be it travel wipes, mini sanitisers, or contacts lens solution bottles. Keeping this in mind the companies have come up with innovative ways to sell their products among the millennials. Nowadays it is so often that the majority of the space is occupied by these small products and are placed in a position that catches the eyes of the consumer the moment they enter the shop. It makes it irresistible for the shoppers. When a really small bar of chocolate is strategically placed at the take out counter, it could even entice the strong-willed diet conscious person.
It is interesting to note that in rural areas products sold in small packets contribute majorly to the overall turnover. The economic condition of people in rural area is totally different as their earnings are factored on a daily basis. and the concept of savings is not known to a larger section of people. For people like them these small packets come handy, for example sachets of tea powder, coffee powder, shampoo, soaps, coconut oil, detergent, toothpaste, biscuits etc. are easily available for the money they have earned on that day. The roadside shops near MNC’s in the metro cities are full of small packets which are consumed by both IT professionals and daily wage laborers. Small packets are a boon for students as they have a fixed budget and need to plan for the entire month. Considering all the above mentioned things small packets have redefined affordability in the society.
Millennials are not considering buying homes anymore due to tighter budgets, paying off education loans, uncertainty of jobs, fear of recession; and they mostly live in rented apartments , hence they do not get into expensive interior renovation projects. They tend to buy vehicles which are more compact in order to avoid the daily troubles of traffic and parking. The concept of joint family doesn’t exist anymore, it's a small and sweet nuclear family now. Now everything is thought from the point of value for money or VFM.
So we have a new syllogism here- Small is Beautiful. Small is VFM and so VFM is beautiful.