MSME Week: How new consumer brands are making a splash with D2C strategy
The Grand Finale of the MSME Week on June 27 saw D2C brand entrepreneurs talk about how they are making it big in the market with their effective strategies.
With India well on its way to becoming a digital economy, Indian businesses are increasingly opting for the Direct-to-Consumer (D2C) strategy. Right from manufacturers to brands, D2C strategy is being picked up by most businesses to enter the market — instead of through a middle entity.
The D2C business model eliminates the barrier between the producer and the consumer, giving the producer greater control over its brand, reputation, marketing, and sales tactics. It also helps the producer directly engage with its consumer, and therefore learn from their customers’ feedback.
In a week-long celebration of homegrown brands, YourStory organised MSME Week from June 20-27, 2020. As part of the virtual panel discussion on the Grand Finale day, K Vaitheeswaran, Co-Founder of Again Drinks; Karan Chowdhary, Co-Founder, Fit & Glow Healthcare and WoW Skin Science; Varun Alagh, Co-Founder, Mamaearth; and Maulik Mistry, Co-Founder, Pure Snacks Ltd shared their insights on how they are making a splash in the market with D2C strategy.
From referring to customers as ‘advocates’ for the brand to focusing on OEMs to make a big brand, and meeting the expectations of the consumer, the panel gave an insightful discussion with a lot of great takeaways.
The panel gave inputs on digital marketing and ecommerce presence, and also on supply chains. The entrepreneurs also gave insights on multi-channel pricing strategy and subscription-based models.
The panellists also talked about why, for any entrepreneur, it is crucial to have a strong business strategy in place that will help them create a distinguished brand and disrupt the status quo.
As part of the MSME Week, presented by TransUnion CIBIL as the credit empowerment partner, and Dell Technologies as the associate partner, SMBStory brought you business journeys, editorial features, Facebook Live sessions, and panel discussions with the business founders, corporates working with MSMEs, and other key stakeholders in the SMB ecosystem.
Watch the panel discussion here:
Edited by Kanishk Singh