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BYJU’S adopts new strategies; Indian retail market to reach $2.2T

Troubled edtech firm BYJU’S seeks to distance itself from its earlier aggressive sales tactics. The Indian retail market is expected to reach $2.2 trillion by 2030. MARS Cosmetics is determined to be the go-to cosmetics brand for the Indian middle class.

BYJU’S adopts new strategies; Indian retail market to reach $2.2T

Friday May 10, 2024 , 5 min Read


There’s another IPO in the offing.

Go Digit Insurance, which became India’s first insurtech unicorn in 2021, is set to launch its IPO on May 15. The IPO will consist of a fresh issuance worth Rs 1,125 crore and an offer-for-sale component of up to 5.4 crore shares.

Meanwhile, Uber has launched a new feature to provide hyperlocal deliveries to users from stores near them to counter Ola’s hyperlocal aspirations. The new feature supplements its parcel delivery offering.

In other news, the startup ecosystem is still banking on traditional sectors.

Healthcare and advanced manufacturing sectors made up nearly 75% of private equity and venture capital deals in India in 2023, as per a report by Bain & Co and IVCA. It predicted that traditional businesses will continue to attract outsized investments for 2024.

Elsewhere, payments regulator NPCI is likely to extend its deadline to implement a 30% cap on the market share of individual UPI ecosystem participants, as per a TechCrunch report. This move is likely to benefit Google Pay and Walmart-owned PhonePe, which currently dominate the market.

Also, Paytm’s share price hit the upper 5% circuit on the stock market after slumping to a 52-week low of Rs 310 a day before. The shares rose after the troubled fintech partnered with US-based Euronet Worldwide’s digital payment unit, Epay, to offer bill services through its app.

ICYMI: Why India’s health research body has cautioned against consuming protein supplements.

Oh, and see how Priyanjali Gupta, a student at VIT Vellore, translates sign language into English on video using an AI model. 

In today’s newsletter, we will talk about 

  • BYJU’S adopts new strategies
  • Indian retail market to reach $2.2T
  • Get ready with MARS Cosmetics

Here’s your trivia for today: How much did the first Lok Sabha elections cost?


BYJU’S adopts new strategies

Troubled edtech firm BYJU'S seeks to distance itself from its earlier aggressive sales tactics to a strategy where salespeople are tasked with counselling rather than selling, as the company aims for revival amid increasing challenges. 

As part of the new strategy, BYJU'S sales executives will have increased flexibility and greater earning opportunities, sources aware of the development said. The company has also reduced its product prices around the start of the academic year.

Revisiting plans:

  • BYJU'S has introduced a system where sales associates can receive 100% of directly closed sales into their accounts the following working day, with managers receiving 20% of the same from the company—at a time when the edtech company struggles to meet payroll.
  • Following the clearance of arrears, associates are slated to receive 50% of closed sales, while managers will obtain 10%.
  • It has also slashed the annual subscription fee for its BYJU’S Learning App to Rs 12,000. As per sources, BYJU’S Classes and BYJU’S Tuition Centres (BTC) are now priced at Rs 24,000 and Rs 36,000, respectively, for a full year. The drop in the prices is around 30%.


Indian retail market to reach $2.2T

The Indian retail market is expected to reach $2.2 trillion by 2030, with 90% of offline purchases being influenced and dictated by what consumers see online, according to the report Decoding Omnichannel: Strategies for D2C Brands by Accel, Fireside Ventures, and Redseer Strategy Consultants.

Key takeaways:

  • The online retail market is expected to reach $200 billion by 2030, compelling both upcoming and established brands to venture beyond their pre-existing distribution channels and towards an omnichannel approach.
  • Consumers are increasingly searching across categories before making a purchase online and, therefore, it is crucial for brands to be where their customers are, the report said. 
  • D2C brands have already nailed online retail and can now use product innovation, data-driven marketing insights, and technological prowess to further scale offline channels.
Fireside Ventures and Accel


Get ready with MARS Cosmetics

India’s cosmetic sector is experiencing remarkable expansion, fuelled by rising purchasing power and a vast array of options that leave consumers spoiled for choice. According to Custom Market Insights, the sector is expected to reach $18.4 billion by 2032, growing at a CAGR of 3.2%. 

Despite a topsy-turvy journey, homegrown company MARS Cosmetics is determined to be the go-to cosmetics brand for the Indian middle class.

Make-up game:

  • When many D2C brands focused on a price range between Rs 600 and Rs 800, MARS Cosmetics strategically priced its products, like lipsticks, between Rs 250 and Rs 400. 
  • Besides targeting price-constrained customers, the brand also ensured good quality products by outsourcing its products to third-party manufacturers across India and importing from China, Taiwan, and Germany. 
  • With a presence in over 8,000 general trade stores via a network of more than 400 distributors, director Rishabh Sethia says an increase in both online and offline presence is on the cards for MARS Cosmetics.
MARS Cosmetics

News & updates

  • Homecoming: Stock broking app Groww has shifted its domicile back to India from the US, signalling a broader trend among the local startup community. The Bengaluru-headquartered startup made the transition in March, Co-founder and CEO Lalit Keshre said. 
  • Crushing: Apple faced an online backlash over an advert for its new iPad that features an industrial-sized hydraulic press crushing a collection of objects and gadgets, including musical instruments and books. The ad shows the machine squashing an array of items before a single iPad Pro then appears in its place. 
  • Merge: Seeking further scale in the streaming business, Disney and Warner Bros Discovery announced plans for a cross-studio bundle that would combine Disney+ and Disney’s Hulu with Warner Bros’ Max, which includes an array of programming from that studio and its premium service, HBO.

How much did the first Lok Sabha elections cost?

Answer: Rs 10.5 crore, or Rs 1,034 crore in today's value.

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