Day one of the India D2C Summit 2023 featured an entertaining discussion on D2C profitability that led to a strong industry business strategy. Industry leaders revealed the keys to profitability.
B S Nagesh, TRRAIN’s founder and Shoppers Stop’s chairman, stressed earlier that product design is worthless if it doesn’t suit client wants.
Experts discussed D2C Growth. Omnichannel Brands Ashmeer M. Sayyed, DaMensch’s chief retail officer, stressed the need of brand differentiation while preparing for D2C Digital Transformation. Parfait India’s managing director, Akhil Srivastava, said the firm had 71.8% return consumers, suggesting women’s strong affinity for its products.
He acknowledged the company’s digital and social media grasp of consumers and the market. Innersense creator Neerja Lakhani described how the business prioritized sustainability before becoming popular. The firm grew by targeting specialized markets.
Campus Sutra CEO and co-founder Dhiraj Agarwal stressed the necessity of fashion industry change. He advised developing a strong brand without relying on rivals as entrepreneurs no longer run most businesses. In the competitive D2C sector, he says, a unique brand and smart business approach are important.
The India D2C Awards honor top D2C brands.
Jockey Head of D2C and Growth Rishabh Jindal stressed client desire. Omnichannel is the future, and all firms will become “phygital” (digital and physical). To improve transparency and delivery, he advocated a consumer-centric supply chain.
The conversation reinforced the importance of D2C firms reducing delivery time. Customer tracking and fast delivery should be the aim. To reach more customers and suit their different interests, a mix of online and offline retailers is needed.
Another fascinating seminar, “Conversational Commerce: The D2C Success Concoction,” focused on the significance of active consumer dialogue for a deeper relationship. The panelists discussed using AI, ML, and DL to develop interactions that establish trust and increase conversion rates.
The Tea Heaven founder Harshada Bansal highlighted AI in conversational commerce. The Pant Project founder Dhruv Toshniwal emphasised commerce dialogues and post-purchase engagement. He said firms may strengthen relationships and gain feedback by actively connecting with clients after the transaction.
Aashish Batra, co-founder of myPAPERCLIP, noted that automated bots provide website openness. Bots reduce consumer inquiries and deliver rapid replies, improving online buying transparency and efficiency. WhatsApp allows conversation commerce that nurtures and retains clients, according to panel talks.
The second session, “Driving Differentiation in the Age of Ultra-Fast Delivery,” explored the issues D2C firms have in obtaining and maintaining customers in a competitive market. Cipla Health Ltd. Director of Operations Vivek Gaurav stressed client satisfaction and the need for ongoing research.
To exceed client expectations and give a better experience, he suggested that companies collaborate. A Toddler Thing Co-founder and CEO Ashwanth S emphasised the importance of statistics in understanding client demands and preferences. The brand learned from numerical and verbal data and adjusted its products.
DHL and GreenHonchos host India D2C Summit 2023 at The Westin Mumbai Powai Lake on June 7 and 8. This year’s annual event promoting and supporting India’s direct-to-consumer (D2C) enterprises brings together over 200 presenters, 1000 participants, and 400 brands and firms for two days of learning and networking.