How the Key & Innovative Technologies are Revamping the Indian Conventional Confectionery Market

Technology today has taken businesses across the world to new heights as compared to earlier times. One such segment is the confectionery industry which faced a lot of challenges in scaling up its business due to a lack of technology. 

When technology was not advanced enough, businesses couldn’t generate as much revenue as they are able to today. The main reason being that the advertising of the products couldn’t cater to a large audience. Today, with the increase in the number of social media and internet users, a much larger audience can be targeted worldwide through the new innovations in digital marketing which makes use of search engine optimization, search engine marketing, and social media platforms like Instagram, Facebook, Twitter, and even WhatsApp.

Another way in which technology has helped the increase of revenue generation for the confectionary industry is the technological advancement in manufacturing equipment. Candy making was a tedious and time-consuming process due to which the production speed was not up to the mark. Innovation of automatic manufacturing equipment has resolved this issue and made the manufacturing process much easier and faster and has Immensely augmented the production. This has also helped in meeting customer expectations which are changing at a rapid rate, with personalization and customization in demand. 

This has all been possible with the innovation in technology which has been playing a key role in the industry, be it the invention of automatic manufacturing equipments or keeping a check on the customers’ requirements through the use of artificial intelligence, where the retailers are able to understand the preferences of the customers by keeping a tab on the customers' behavior on the internet. Technology has transformed marketing by making campaigns more personalized for people and creating ecosystems that are more targeted for the marketeers. With the rise in the number of people using internet/ social media platforms for product recommendations, analytical platforms like google analytics, and Google tag manager have made the data collection of consumer behavior much more organized and easier. 

There is no doubt that digital marketing and technology in marketing have altered everything, especially with artificial intelligence helping the retailers understand which product excites the customer more and which other products they tend to add to the cart thereby, making them able to target the correct brand audience. However, the brands are facing challenges in connecting with consumers and this is where creative marketing plays a key role, especially in the confectionery industry. Creative Marketing is helpful in understanding consumers' emotions and motivations which is then used to create better campaigns, thereby increasing repeat customer percentage which is only possible when one makes an everlasting impact on the consumer and makes wise use of technology by creating a balance between the two. 

The relationship between the marketer and the data specialist for the brands needs to be top-notch. If you get your forecasting right and lose on the creative side or vice-versa then there are a lot of chances that you will lose out on the revenue. 

After Meta’s announcement about the Metaverse, brands have got more to play with. Many brands are already making forays into the virtual space. Following the trend of shopping from home, virtual meets will be the most significant technology development, which will allow brands to engage and aware their consumers with various strategies. Nowadays brands are focusing on experiential marketing and Meta is giving an amazing opportunity to do exactly that. In another couple of years, we will be seeing a rise in the inclination towards the metaverse and the brands will be working on combining the virtual world and the real world.  One of the ways in which the confectionery segment can do this is if for example, a customer walks into a store in the virtual world and buys candies/sweets, they can be delivered to him/her in a physical world. To increase engagement further in the virtual world, brands are making video games, to make the customer live the world they want to offer.