The Direct-to-Consumer World
A Dash of Myntra's Maya and Amazon's 10-Year Makeover
Hey there, aspiring product managers! 👋 We know you're always hungry for insights on the dynamic world of direct-to-consumer (D2C) in India. And today, we've got a delightful buffet of information just for you. We'll keep it relatable, informative, and maybe even sprinkle in a bit of humor along the way. So, let's dive right in!
Amazon's Remarkable 10-Year Transformation
Buckle up because we're about to take a joyride through the last ten years of Amazon's incredible journey in India. Can you believe it's been a decade since Amazon first set foot on Indian soil in June 2013? Back then, it was practically a startup with a mere 100 sellers. But oh, how things have changed! Today, Amazon boasts over 1.2 million sellers, providing employment to more than a lakh people and indirectly influencing another 1.1 million jobs. They've exported goods worth a jaw-dropping $5 billion and helped over 4 million small businesses leap into the digital age. That's what we call a significant makeover!
And here's a little nugget of wisdom from Manish Tiwary, Vice President and Country Manager of Amazon India's consumer business: "In 2020, when Jeff visited, we made three pledges." Yes, three big promises:
1. Digitization: The goal was to digitize 10 million small businesses by 2025. They're almost at 4.1 million now. So far, so good!
2. Employment: They pledged to create 2 million incremental jobs by 2025. They've already hit 1.1 million. Bravo!
3. Exports: Initially, they aimed for $10 billion in exports. But they've been doing so well that they've doubled that target to $20 billion. Amazon is now helping Indian small businesses reach customers in nearly 190 countries.
By the way, Amazon has become one of the largest private sector employers in India, with around 110,000 to 115,000 individuals on its payroll. A standing ovation for their spectacular ten-year journey!
Marketplace Musings
If you've been keeping an ear to the ground, you might have heard whispers about ONDC (Open Network for Digital Commerce). This time, they're shaking things up. Starting from June 1, ONDC is turning down the discount volume to reduce customer acquisition dependency. The plan is to go for quality over quantity. Now, buyers can grab incentives on a maximum of five orders per month. ONDC is definitely making some moves, with 25,000 orders on May 11, even though it's just a fraction of the daily orders on other e-commerce platforms.
And then, we've got the remarkable Shopsy, an e-commerce platform that's making waves. In Jan-Mar 2023, they served a staggering 16 million customers and expanded their last-mile delivery to 350 new pin codes in Tier II and III regions. With 175 million downloads on the Google Play Store, they've grown by leaps and bounds. Plus, more than 60% of Shopsy's products are priced below Rs 200. You might want to take a closer look!
Myntra's Magic
Do you dream of having a fashion influencer friend who's always got the latest style tips? Well, Myntra has something pretty cool – Maya, their first virtual fashion influencer. The twist? She's not real! 🙀
Maya joins Myntra's stylish content creator squad to boost the overall consumer experience and showcase FWD, the platform's tailored shopping journey for Gen Z. Being a virtual influencer has its perks. Maya can transcend physical and geographical boundaries, enabling Myntra to take full creative control of their campaigns. Talk about thinking outside the fashion box!
Ellementry – Your Elemental Style
Are you looking to elevate your dining game? Ellementry has you covered. They're expanding their presence on Amazon and offering mouthwatering deals on their range of products. You can score a FLAT 15%-20% discount on all Ellementry products using the code ELLEGB15. Just remember, these products fly off the shelves quickly, so this exclusive deal for D2C Pulse readers' friends and family is valid till June 10. Bon appétit!
D2C Bites – The Extra Toppings
It's not every day you hear about a cricketer diving into the world of startups. Indian cricketer KL Rahul is making waves with his investment in HyugaLife.com, which focuses on personalized nutrition and wellness solutions. Watch out for this one; his involvement is set to bring growth to this startup.
Grooming Revolution Alert! Wipro's consumer goods arm is putting its bets on Letsshave, an emerging grooming startup. They offer a range of shaving and personal care products. In 2020, Wipro invested around $2.5 million in Letsshave. Not only that, Letsshave is looking to extend its reach offline, supplying razors to big names like Marriott Group, St. Regis, and Ritz Carlton.
Meanwhile, Indian consumer electronics startup Atomberg Technologies is making headlines with an $86 million Series C funding round. Their speciality? Energy-efficient home appliances, especially the popular Gorilla Fan. With this funding, they're all set to expand and innovate further, making a significant mark in the consumer electronics industry.
Lastly, Capillary Technologies, a loyalty management and customer engagement technology solutions provider, just closed its Series D funding round worth $45 million. They work with over 100 loyalty programs and more than 250 brands, including big names like Tata, PUMA, and Domino's.