NEW DELHI: The makers of Medusa - an Indian craft beer with bottles sporting the picture of Medusa, a Greek mythological mortal known for vehement passion and serpentine locks — is focusing on smaller packs, starting with mini-cans at lower price points, to push sales.
Avneet Singh, founder of Medusa Beverages, said millennials in the metro are mirroring global trends and trading up towards mini cans of craft beer even for a higher unit price. “Their willingness to buy smaller cans will be a potential antidote to weak sales as consumers shift away from high to low alcoholic beverages and from bottles to cans,” he said, adding that the cans are a better package for beer as they are portable, recyclable, and provide better protection.
Expecting to sell a million cases this year with each case containing 24 cans, he said the company has a 25 per cent share of the beer market in the national capital. The brand has quietly snagged the market share through word-of-mouth recommendations in a country where marketing of alcohol is heavily regulated. Currently, Medusa sells 500 millilitres (ml) cans and plans to launch 330 ml cans this year.
Moreover, non-traditional can packages are contributing to canned beer’s uptick. Medusa has a quirky and contemporary packaging — the brand’s mascot, for instance, is Medusa. It is inspired by the character of a beautiful girl in Greek mythology, who was later punished by Athena with a hideous appearance and loathsome snakes for hair.
Anticipating his business to break even in FY20 and record revenue more than double to about Rs 250 crore, Singh said, “We are planning to expand in five cities this year — Delhi, Punjab, Chandigarh, UP and Chhattisgarh and spend about Rs 15 crore in brand expansion.” He further said the company would continue to focus more on brand rather than infrastructure.
The craft beer market — a rage in the US — is a mere one per cent of the estimated Rs 25,000 crore market size in India. The India Beer Market Outlook 2023 report estimates the market will grow at a compound annual growth rate of more than six per cent during 2018-2023.