India D2C Summit 2023 Forecasts $25 Bn Revenue Surge in the Country's Thriving D2C Market
The India D2C Summit & Awards 2023 presented by DHL and powered by GreenHonchos kicked off its second edition with an impactful keynote
address by Mohit Rana, Partner at Redseer. Rana highlighted India's impressive
digital progress, positioning it as a leading nation in technology adoption.
With 9,000 brands currently operating and a projected revenue of $25 billion, the D2C landscape is experiencing remarkable growth.
Throughout the day,
industry experts shared valuable insights in various sessions. BS
Nagesh, Founder of TRRAIN and Chairman of Shoppers Stop, hosted
a session on the Future of FMCG & Consumer Brands in Digital-First India.
Customer centricity took center stage as Nagesh emphasized the importance of
catering to customer needs for successful product design. Ashima
Aggarwal, E-Commerce Business Head at Bajaj Consumer Care, highlighted
the robust growth of the FMCG sector, particularly in rural hair oil business.
The evolving mindset within FMCG, embracing customized business models and
technological advancements despite inflation, was discussed. Swati
Dayani, CTO at Cipla, stressed the significance of
credibility, reliability, intimacy, and self-orientation. Deepti
Naithani, Director - D2C Business at Tata Consumer Products, stressed
on the effectiveness of word-of-mouth and testimonials for D2C brands,
revealing that the D2C segment currently accounts for 20% of E-commerce and is
projected to grow to 40%.
The
first segment of the Summit also witnessed the release of the book ‘D2C
Evolve’, launched by Dhruv Thakkar, Senior Director
- Business Development, DHL Supply Chain, India. ‘Evolve’
details the struggles and success stories of some noteworthy D2C brands in
India’s dynamic D2C landscape.
The
second day continued with a captivating session on the power
of social media influencers and online celebrities in
driving D2C businesses to new heights. Experts shared insights on successful
influencer collaborations, highlighting authenticity, audience connection, and
content relevance as crucial factors in building a strong brand presence in the
D2C domain.
Another
session focused on enabling exceptional customer experiences in every
touchpoint, discussed the importance of safe and seamless payments for
sustainable growth. Abhishek Gupta, Senior VP of
Growth-D2C Business at MamaEarth, shared the company's
learnings from COVID-19 and how personalized customer communications and
innovative technologies led to revenue growth. The session also covered the
journey from bootstrapping to securing funding for D2C businesses, including
valuation methods, investor pitching, and exploring future D2C enterprises.
Later
in the night the grand finale of the event was the IMAGES
India D2C Awards 2023, powered by DHL, which honored
exceptional achievements in the D2C industry. The jury comprised highly
respected and influential individuals from diverse backgrounds. Ashish
Dhir, Executive Vice President (Consumer and Retail) at 1 Lattice,
along with Arjun Vaidya, Ventures Lead – India at Verlinvest, Rishav
Jain, MD at Alvarez & Marsal, and Vamshi
Reddy, Partner at Kalaari Capital, and many more who brought
their expertise and insights to the evaluation process.
The
esteemed winners included Vineet Singh, Co-founder & CEO of
SUGAR Cosmetics, recognized as the Most Admired D2C Star of the
Year. Plum Goodness received the title for
the Most Admired D2C Marketing Campaign of the Year in Offline Marketing. Accessorize
London and Lavie jointly earned the Most Admired D2C Brand
of the Year in Accessories & Lifestyle, while House
of Chikankari was celebrated as the Most Admired D2C Brand
of the Year in Apparel. These awards signify the remarkable accomplishments of
these D2C brands and individuals, setting new standards for innovation,
marketing, and brand building within the industry.
The
event concluded with a networking event and cocktails, marking the end of the
successful two-day summit filled with valuable insights into the thriving D2C
market.
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