In a strategic move, PepsiCo India is foraying into the flat-cut and wafer-styled potato chips segment across the country, under its snacks brand Lay’s.
With this foray, the company is looking to expand the brand’s footprint and grab market share in a segment, which is largely dominated by the unorganised and regional players. This foray also comes at a time when the pandemic has accelerated consumers’ shift to organised segment from the unorganised segment. As per industry estimates, the size of the flat-cut potato chips segment is currently pegged at about Rs. 1,000 crore.
Anshul Khanna, Senior Director and Category Head – Foods, PepsiCo India, told BusinessLine, “Introduction of Lay’s Wafer Style, the thinnest chips from the brand’s stable, will not only expand the brand’s footprint but also accelerate our growth momentum. The flat-cut category is growing faster than the ridged chips category. A large part of this flat-cut category is still unorganised with a strong localised play.”
The pan-India launch for Wafer Style, comes after PepsiCo India has been experimenting with this category in the South, the largest market for flat-cut segment. “This launch has always been in our list of innovations. With our core business already doing well and innovation being a priority, there could not have been a time more apt for this launch. This also sets us up for a strong 2022 well ahead of time,” Khanna added.
This is also part of the brand’s strategy to offer products for evolving consumer needs. “The flat cut category is differentiated from other snacks for its lighter cut; lighter flavours and a crisper thinner texture. This makes it a comfort snack suited for anytime and anywhere snacking,” he added.
Lay’s Wafer Style is being made available across retail stores and e-commerce platforms at price points of 5, 10 and 20. It’s available in three flavours of Salt & Pepper, Tangy Treat and Sundried Chilli.
“The launch will make Lay’s a brand that caters to the consumer needs of specific cuts, flavours and texture play. We already have a Ridged chip with Lay’s, a Deep Ridged in Maxx and now we have the Wafer Style. We have also ensured we have a regional and flavour play differentiated from core to make this offering relevant to different consumer needs and taste palates,” added Khanna.thehindubusinessline