20 Feb 2020 16:33 IST

Sell a product to the psyche, says Future Group Chief People Officer at MICA

Swetank Jain was speaking as part of institute’s leadership series; spoke in-depth on consumer insights

As part of MICA Leadership Series, MICA, Ahmedabad, recently hosted Swetank Jain, Chief People Officer and Chief Communication Officer at Future Group, where he Jain shared his journey in the media, switching jobs and eventually joining Future Group.

Giving an example of Big Bazaar which was the first organised retail store in 2001, he said: “After the initial launch, we changed the interiors of the stores based on the insight of ‘crowd attracting more crowd’.”

Speaking about customisation, he said: “Customisation is something that works in India in every spectrum. For example, when we visit a restaurant, we always add that extra line while placing an order ‘Make the dish medium spicy’ but how much spicy is medium spicy? Who defines spicy and who defines medium spicy? On the same insights we launched ‘Consumer Patri’ and focused on customising the offerings in Future Group.”

Consumer insights

While mapping the consumer journey, he spoke in-depth on consumer insights. Giving an example, he said, “No one makes a decision as to whether to make a purchase online or offline, it is more about convenience. It is important for brands to be present where the consumer wants them to be.”

Giving insights about failures, Jain shared the journey of Future Group and how the group never hesitated to venture into many businesses, despite the failures in some of the ventures. “While it is important to keep trying and falling down, it is equally important not to waste too much time in moving on,” Jain said.

He concluded his session by giving advice to the future marketers and said: “You sell a product not to someone’s wallet, but to someone’s psyche”.