MTR’s sales on digital platforms have doubled in the last couple of years
MTR Foods, a Bengaluru-based processed food company, has scaled up its online sales from 2.5 percent to 5 percent of the total sales in the last two years.
According to Sunay Bhasin, Chief Commercial Officer of the company, MTR Foods is a part of the Norwegian conglomerate Orkla which also owns Rasoi Magic and Eastern Condiments in the country.
For MTR, digitalization was well under work, but when the pandemic struck, its digital operations became stronger than before.
Digitalization has also helped the company in understanding consumer behavior across different regions in the country.
According to Bhasin, more than 90 percent of the company’s sales are now fully digitized.
Launched in 2017-18, MTR’s three-minute portfolio has received a good response and now contributes to 30 percent of MTR’s overall business.
In the three-minute portfolio, Bhasin further said the changing preference of consumers towards ‘hyper convenience’ has made the company realize the importance of launching new products.
“We came up with the three-minute portfolio because we saw the trend where people were moving from convenience to even hyper-convenience. It caters to the palate of those who are looking for easy, quick, and great tasting options,” he said.
Despite having a global presence, the southern region continues to be the primary base of the company contributing to around 70 percent of the total business, while another ten percent comes from international operations.
“There is a large Indian diaspora that has helped us scale up. In the last couple of years, we have grown from low single digits to low double digits,” Bhasin added.
The company’s turnover has crossed the ₹1,000-crore mark and claims to have grown at a double-digit compounded annual growth rate every year since being acquired by the Norwegian group in 2007.
While the company has a variety of products across different portfolios, the bulk of the company’s sales come from spices and ready-to-cook categories