Finding better product adoption
The addressable market size for D2C brands in India would be $100 billion by 2025. A report by PGA Labs and Knowledge Capital suggest that investors put $1.4 billion into D2C companies between 2014 and 2020. The sector saw an investment of close to $417 million in 2020.
A prominent trend among customers who prefer shopping online is that they are open to trying out new brands, sampling close to five million new products from emerging D2C brands
And startups such as Smytten are playing a significant role in facilitating this trend. Founded in 2015 as an online discovery and trial platform for premium products and services by ex-Googler Swagat Sarangi and ex-Unilever executive Siddhartha Nangia, the platform follows a data-driven targeted sampling approach and takes real-time feedback from millions of users post sampling.
But why is this important? When the startup was launched, the D2C ecosystem wasn’t as popular but today, sampling by users is one of the easiest ways for many of these D2C brands to get the right feedback for the niche segment they are targeting.
In a conversation with EnterpriseStory, Kamal Bali, Managing Director of Volvo Group India, talks about the trillion-dollar manufacturing opportunity for India and why it is essential for the country as a competitive advantage.
Editor’s Pick: Techie Tuesday
Aarush Yadav had just begun learning AI when the first COVID-19 pandemic-induced lockdown was declared last year. His journey as a technology entrepreneur began when he learned how to code in Class 4 and built basic shooting games.
The 15-year-old launched his startup Here is his story., a satellite imagery company, last year.
There’s a lot happening at lately.
Besides doubling growth and raising multiple rounds of funding in the last fiscal, the afterschool math learning startup is streamlining operations in India, setting up an office in Abu Dhabi, and building cross-country teams in the US, the UK, and other international territories to drive global expansion.
Now a Series C startup, Cuemath plans to expand to 50-odd markets (up from 20 at present) by the end of FY22. Read more.
News & Updates
- Delhivery announced the launch of Delhivery Innovation Labs to help emerging startups in the logistics space. The startup has partnered with Mumbai-based Startup Réseau, a specialised operator of industry-backed accelerator programmes, to launch the innovation lab.
- Crypto startup Unocoin announced a new app feature that allows users with FASTag accounts to pay electronic highway tolls automatically through Bitcoin. It claims that users can choose among 17 operators listed on the platform.
- Social commerce platform Trell has acquired Womaniya — the community that helps empower women when it comes to wellness and self-care. The acquisition is aimed at improving efficiency and facilitating collaborations among the women's community.
- Molecular diagnostics startup Mylab Discovery Solutions acquired a majority stake in point-of-care startup Sanskritech in an all-cash deal for an undisclosed amount. The company plans to deploy point of care testing systems.
Before you go, stay inspired with…
"This is the best time for D2C brands to go global. Being ecommerce driven, D2C brands can follow an online model to go into different markets. There are many handicraft brands that are global, as there is demand for niches.”