Wellbeing Nutrition redefines tea-drinking in India with revolutionary wellness teas

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October 7, 2023

Wellbeing Nutrition is revolutionizing India’s age-old passion for tea by unveiling their innovative range of premium Wellness Teas. This extraordinary collection harmoniously blends the expertise of tea craftsmanship with the principles of nutrition science, envisioning a complete transformation of the conventional tea-drinking experience into a holistic voyage encompassing both taste and wellness. Moreover, it stands as a driving force for positive change, empowering the talented tea artisans at the renowned Makaibari Estate.

Dedicated to providing products that resonate with the demands of today’s fast-paced way of life, Wellness Teas are designed for those in pursuit of a natural and effective means to improve their well-being. By harnessing the inherent qualities of nature and eschewing synthetic additives, each tea variety is the culmination of fusing age-old wisdom with modern scientific inquiry. The result is a selection that seamlessly integrates health advantages into the pure joy of savoring tea, providing both experienced tea connoisseurs and newcomers with a simple gateway to a healthier lifestyle.

“We are thrilled to introduce a tea collection that embodies our core philosophy: merging the goodness of nature with the tapestry of tea,” remarked Avnish Chhabria, Founder of Wellbeing Nutrition.

Carefully curated, this collection encompasses six distinct tea varieties, each meticulously crafted to address specific health needs. The Cleanse Adaptogenic Herbal Tea blends 22 carefully selected ingredients to synergistically support the body’s natural detoxification process. For those seeking peaceful slumber, the Sleep Adaptogenic Herbal Tea, enriched with melatonin and 13 other soothing components, promotes relaxation and a restful night’s sleep. To enhance focus and cognitive function, the Focus Adaptogenic Herbal Tea incorporates potent ingredients to invigorate the mind with each sip.

Her Care provides a solution for hormonal balance, reduced testosterone levels, and improved menstrual regularity. The collection also features two caffeine-infused options: Slim Adaptogenic Green Tea, which aids in fat burning, suppresses sweet taste receptors, and supports metabolism, and Digest Adaptogenic Green Tea, infused with heat-resistant probiotics and a blend of natural components to nurture beneficial gut bacteria.

In addition to its exceptional tea blends, Wellbeing Nutrition is dedicated to fostering empowerment and cultural enrichment. The tea leaves are carefully harvested by skilled artisans from the esteemed Makaibari estate, one of the world’s oldest tea plantations nestled amidst the Himalayan peaks. These artisans possess an innate expertise in selecting the finest leaves and buds, a craft handed down through generations, guaranteeing that each sip delivers optimal benefits. Beyond their invaluable role in tea cultivation, their aspirations and dreams are nurtured, paving the path to a brighter future. This includes ensuring access to quality education for their children, comfortable homes, and comprehensive healthcare.

“This tea collection is also a tribute to those who cultivate them. It tells a story of strength, sustainability, and the promise of a better future,” adds Avnish Chhabria.

Sustainability is a fundamental pillar of Wellbeing Nutrition’s dedication. The brand proactively takes steps to reduce its environmental footprint, notably through the eco-friendly packaging of its teas. Instead of non-biodegradable nylon tea bags, these teas are presented in biodegradable bags crafted from corn starch. Additionally, the brand remains steadfast in its commitment to transparency. Customers receive thorough information about the ingredients utilized in each blend and their distinct advantages, building trust among health-conscious consumers. With these compelling benefits, it comes as no surprise that this recent release has already garnered the interest of wellness-conscious individuals throughout India.

“The Wellness Tea collection was born through extensive research and a commitment to quality. They are more than beverages; they embody a holistic approach to wellness while celebrating the essence of tea cultures,” said Avnish Chhabria.

Dabur India anticipates strong recovery and growth in FMCG market despite seasonal challenges

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October 7, 2023

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Dabur India’s quarterly update highlights that FMCG consumption is demonstrating year-on-year improvement, benefiting from positive macroeconomic indicators. However, the recovery has been gradual, with this quarter experiencing a mild summer and a slightly below-average monsoon.

It mentioned that the delayed festive season this year has postponed festival-related sales, which will now be carried over to the next quarter.

“We expect recovery of consumption in both urban and rural markets in India due to improving macro indicators, increase in government expenditure and positive consumer sentiment,” Dabur said.

The homegrown FMCG major is optimistic about its performance in the upcoming July-September quarter, as it foresees achieving a “mid to high single-digit growth” in its consolidated revenue.

“In India business, Healthcare and HPC segments are expected to grow in high single-digit,” it said in an update for the quarter ending on September 30, 2023.

Nonetheless, it expects the Food and Beverage (F&B) segment to register a revenue “slightly below last year’s figures” due to the influence of a mild summer and a shift in the festive season.

Regarding its international operations, Dabur expressed confidence in a robust performance, with the expectation of achieving double-digit growth in constant currency. This growth is expected to be driven by markets such as the Middle East, Egypt, and Turkey.

Furthermore, it anticipates a “greater expansion in gross margins compared to Q1 FY24,” supported by the easing of inflationary pressures and the implementation of cost-saving measures.

A substantial portion of the gross margin expansion will be allocated towards increasing expenditure on advertising and promotions (A&P).

“Consequently, operating profit is expected to grow in line with revenue and remain steady compared to the same quarter last year,” Dabur said.

Additionally, the company affirmed its dedication to outperforming the industry benchmarks within its business segments and capturing greater market share across its product portfolio.

“We will continue to invest strongly behind our brands, distribution expansion, manufacturing footprint and digitisation initiatives,” it said.

In its quarterly update, Dabur India has offered a comprehensive overview of the performance and demand patterns observed during the period ending on September 30, 2023.

“This will be followed by detailed financial results and earnings presentation once the board of directors of the company approves the consolidated and standalone financial results for the quarter ended September 30, 2023,” it added.

Amazon launches affordable Prime membership to compete with Flipkart’s VIP pass

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October 7, 2023

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Ahead of its festive season sale, Amazon, a prominent e-commerce giant, has unveiled a new Prime annual membership plan tailored for Android users, priced at just INR 399.

Named Prime Shopping Edition, this new offering is likely a strategic move by Amazon to compete with Flipkart’s recently launched VIP pass.

Amazon’s latest offering provides a straightforward shopping-only plan, featuring complimentary shipping, one-day deliveries, and associated perks. Nevertheless, users will not have access to additional services like Prime Video, Music, Reading, Gaming, and more, which are bundled with the comprehensive Prime membership.

For the time being, it appears that this offering is exclusively accessible to users who access the e-commerce platform through the app or mobile browsers on Android devices. The decision to restrict the offering to Android users is likely influenced by the fact that over 85% of smartphone users in India use Android devices.

“Once customers see and experience this shopping benefit, they would love to become a full member and enjoy all the other things. We don’t want them to think that it’s all or nothing. We want them to experience the shopping benefits and we believe that they will upgrade to full membership later,” Amazon India vice president Saurabh Srivastava told Moneycontrol.

The primary allure of the Prime Shopping Edition seems to be its 24-hour early access pass for subscribers. Essentially, while Amazon’s flagship sale, the ‘Great Indian Festival,’ is set to kick off on October 8, this pass grants users the privilege of accessing it a day in advance.

Amazon’s competitor, Flipkart, recently introduced a comparable offering known as the VIP pass, priced at INR 499 per year, only a few days ago.

At the moment, it remains uncertain whether this offering will extend its early access benefits to other sales hosted by the US-based e-commerce platform.

The decision comes as Amazon moved up its annual festive sale to October 8, aligning with Flipkart’s sale dates, in a bid to capture a larger share of the festive sales market.

The decision to introduce a more affordable version of the Prime membership may also be driven by the goal of expanding the Prime user base in India. Currently, Amazon has 18-20 million Prime users in India, compared to the reported monthly active user (MAU) count of 200 million.

This membership option offers a highly enticing opportunity for the e-commerce giant since Prime users typically generate an average order value (AOV) ranging from INR 1,800 to INR 2,000, in contrast to INR 1,000 to INR 1,200 for non-Prime customers, as reported by Moneycontrol.

In the meantime, Amazon has intensified its endeavors to leverage the surge in demand during the festive sales season. With distribution centers strategically located in 15 states and providing a total storage capacity of 43 million cubic feet, Amazon has also optimized a network consisting of nearly 2,000 delivery stations operated by Amazon itself and its partners throughout the country.

Amazon India has recently collaborated with India Post and Indian Railways to enhance its delivery operations. Additionally, the company has stated that it has generated over 100,000 seasonal job opportunities in anticipation of the upcoming sale event.

According to Redseer, the gross merchandise value (GMV) of India’s e-commerce sector is expected to experience a significant increase of 18-20%, reaching INR 90,000 Crores during the upcoming festive sale season.

Reliance Retail secures INR 4,966 Crores investment from ADIA, building on KKR and QIA investments

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October 7, 2023

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The Abu Dhabi Investment Authority is injecting INR 4,966.80 Crores into Reliance Retail Ventures Ltd in exchange for a 0.59% equity stake.

According to a statement from Reliance Retail, this capital injection will result in a pre-money valuation of INR 8.28 lakh crore for the retail and digital commerce subsidiary of Reliance Industries Ltd (RIL). This valuation positions it among the top four companies in the country in terms of equity value.

Commenting on the announcement, Reliance Retail’s executive director Isha Ambani said, “We are pleased to further deepen our relationship with ADIA with their continued support as an investor in Reliance Retail Ventures Limited… ADIA’s investment in RRVL is a further testament to their belief in the Indian economy and our business fundamentals, strategy and execution capabilities.”

The retail division of the diversified conglomerate, which spans industries from oil to telecom, boasts a customer base of 267 million. It operates through an omnichannel network encompassing over 18,500 physical stores and various digital commerce platforms. The company maintains a presence in a wide array of sectors, including groceries, consumer electronics, fashion and lifestyle, and pharmaceuticals.

Within its portfolio, Reliance Retail encompasses brands like AJIO, JioMart, Netmeds, Milkbasket, and Trends. Additionally, the company holds a minority stake in the challenged quick commerce startup, Dunzo.

Reliance Retail further asserts that its new commerce venture has successfully digitalized over 3 million small and unorganized merchants nationwide.

This announcement represents the most recent fundraising effort undertaken by the retail behemoth in recent months. In September, the company disclosed that global investment major KKR was purchasing a 0.25% stake for INR 2,069.5 crores.

Before that, Reliance Retail secured INR 8,278 crores in funding from the Qatar Investment Authority. Both transactions were completed at a pre-money equity valuation of INR 8.3 lakh crores.

In the first quarter (Q1) of the fiscal year 2023-24 (FY24), Reliance Retail reported a net profit of INR 2,448 crores, with operating revenue reaching INR 62,159 crores. Notably, digital and new commerce activities contributed 18% to the company’s total revenue during this quarter.

The Art of Connection: How to Foster Deep and Lasting Consumer Relationships

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October 7, 2023

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Fostering real relationships with customers has become a vital component of success in an increasingly competitive company world where consumers are overwhelmed with options. The age of merely transactional connections is coming to an end, giving way to a new era in which enterprises must master the art of connection in order to succeed.

1. Personalization Beyond Names

Personalization has become a buzzword in marketing, but it goes beyond simply addressing customers by their first names in emails. True personalization involves understanding your customers’ preferences, needs, and behaviors. Use data-driven insights to tailor your products, services, and marketing efforts to meet individual needs. When customers feel that a business “gets” them, it creates a powerful emotional bond.

2. Active Listening and Feedback Loops

Effective communication is a two-way street. To build strong connections, actively listen to your customers. Encourage feedback, whether through surveys, social media, or direct interactions. When customers see that their opinions are valued and acted upon, it builds trust and a sense of partnership. Create feedback loops within your organization to ensure that customer insights drive continuous improvement.

3. Authentic Storytelling

Storytelling is a potent tool for building connections. Share the authentic story of your brand, its mission, values, and the people behind it. Authenticity resonates with consumers, who appreciate transparency and honesty. When your brand’s story aligns with a customer’s values and beliefs, it creates a powerful emotional connection that transcends transactions.

4. Exceptional Customer Service

Exceptional customer service is a cornerstone of building lasting relationships. Train your team to go above and beyond in solving problems and addressing customer concerns promptly. Positive service experiences are often shared with others, amplifying your brand’s reputation and attracting new customers through word-of-mouth.

5. Consistency Across Touchpoints

Consistency is key in building trust. Ensure that your brand’s messaging, values, and tone remain consistent across all touchpoints, from your website to social media, emails, and in-person interactions. This consistency reinforces your brand’s identity and makes it easier for customers to connect with and recognize your business.

6. Loyalty Programs and Rewards

Loyalty programs and rewards can be powerful tools for fostering connections. These programs incentivize repeat business and make customers feel appreciated. However, the key is to make loyalty programs meaningful, offering rewards that genuinely enhance the customer experience.

7. Community Building

Create a sense of community around your brand. Whether it’s through online forums, social media groups, or local events, provide a space where customers can connect with each other and with your brand. A strong community fosters a sense of belonging and loyalty.

8. Going the Extra Mile

Sometimes, it’s the unexpected gestures that leave the most lasting impressions. Surprise and delight your customers by going the extra mile. This could be sending personalized thank-you notes, offering exclusive sneak peeks, or providing unexpected perks. These actions create memorable moments that customers cherish.

In today’s business landscape, fostering deep and lasting consumer relationships is an art that can set your brand apart. By focusing on personalization, active listening, authenticity, exceptional service, consistency, loyalty programs, community building, and going the extra mile, you can create connections that transcend transactions. Building these relationships takes time and effort, but the loyalty and advocacy of your customers are invaluable assets that will fuel your business’s growth and success in the long run. Remember, in the art of connection, the canvas is your customer’s heart, and the masterpiece is a relationship that stands the test of time.

From Farm to Table: Fresh Ways to Generate Leads for Your Food Venture

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October 7, 2023

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In an era when customers are more concerned about what they eat than ever before, the food business is rife with potential for entrepreneurs. Whether you’re a farmer wanting to sell your fresh produce, a restaurateur hoping to attract foodies, or a food producer looking to reach a wider audience, producing leads is critical to your business.

1. Embrace the Power of Social Media

In today’s digital age, social media isn’t just a trend; it’s a powerful tool to connect with potential customers. Create mouthwatering content showcasing your products or culinary creations and share it on platforms like Instagram, Facebook, and Pinterest. Engage with your audience by posting behind-the-scenes glimpses of your food venture, customer reviews, and even live cooking sessions. By leveraging the visual allure of your offerings, you can pique the interest of food enthusiasts and turn them into loyal customers.

2. Host Virtual Cooking Classes

If you’re in the business of selling food products, consider hosting virtual cooking classes. Share exciting recipes that incorporate your ingredients and invite food aficionados to join in. Not only does this demonstrate the versatility of your products, but it also builds a sense of community around your brand. Encourage participants to share their creations on social media, creating a ripple effect that can attract more leads as friends and family members become curious about your offerings.

3. Collaborate with Influencers

Influencer marketing is a game-changer in the food industry. Partnering with food bloggers, chefs, or social media personalities who align with your brand can expose your products to a larger, targeted audience. Influencers can create engaging content, such as recipe tutorials or taste tests, which can significantly boost your brand’s visibility and credibility. Make sure to choose influencers whose followers are likely to be interested in what you have to offer.

4. Participate in Food Festivals and Farmers’ Markets

Don’t underestimate the power of in-person events. Participating in food festivals, farmers’ markets, or local community events can be a fantastic way to showcase your products and interact directly with potential customers. These events provide an opportunity for attendees to taste your offerings, ask questions, and develop a personal connection with your brand. Additionally, they can serve as excellent platforms to collect contact information and build a loyal customer base.

5. Offer Free Samples and Tastings

People love trying before they buy, and offering free samples or tastings can be a compelling way to generate leads. Whether you’re running a restaurant or selling packaged food products, providing a small taste of what you have to offer can entice curious consumers to explore your menu or purchase your goods. Consider setting up a tasting station at local grocery stores or offering complimentary appetizers in your restaurant to attract potential customers.

In the food industry, where sensory experiences play a crucial role, generating leads requires a mix of creativity and culinary prowess. By embracing social media, hosting virtual events, collaborating with influencers, participating in live events, and offering samples, you can create a buzz around your food venture. Ultimately, these fresh strategies will not only attract new leads but also nurture a loyal customer base eager to savor your farm-to-table delights. So, get cooking and watch your food venture flourish!

From Prospect to Purchase: Building an Effective Sales Process for Your Offering

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October 7, 2023

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In the modern workplace, success is determined not only by having a great product but also by your ability to market it successfully. The key to converting prospects into loyal clients is to create a smooth and productive sales process.

A well-structured sales process isn’t just about making a sale; it’s about guiding potential customers on a journey that leads to a confident and informed purchase decision. It’s the roadmap that turns curious prospects into satisfied buyers. Here’s how to build one:

1. Understand Your Offering Inside and Out

Before you can sell your product effectively, you need an in-depth understanding of what you’re selling. Be prepared to answer any questions, address concerns, and highlight the unique value your product offers. The more you know, the more confident you’ll appear to prospects.

2. Know Your Target Audience

Success in sales begins with knowing who your potential customers are. Conduct market research to identify your ideal customer profile. Understand their needs, pain points, and preferences. Tailor your messaging to resonate with their specific needs.

3. Create a Personalized Approach

Every customer is unique. Craft a personalized approach to your sales process that adapts to individual customer needs. This could involve customizing your pitch, offering tailored solutions, or providing specific recommendations.

4. Develop a Clear Sales Funnel

Map out the stages that a prospect typically goes through on their way to making a purchase. This could include awareness, interest, consideration, and decision. Align your sales process with these stages to provide the right information and support at each step.

5. Build Strong Relationships

Relationship-building is at the heart of effective sales. Engage with prospects on a personal level, listen to their concerns, and genuinely care about their success. Building trust is a cornerstone of successful sales.

6. Leverage Technology

Use customer relationship management (CRM) tools to manage and track your interactions with prospects. These tools can help you stay organized, automate tasks, and ensure no leads fall through the cracks.

7. Craft a Persuasive Pitch

Your sales pitch should be clear, concise, and persuasive. Highlight the unique benefits and features of your product that address the prospect’s specific needs. Focus on how your offering can solve their problems or make their life better.

8. Provide Value Throughout

Offer value at every stage of the sales process. This could involve sharing informative content, offering free consultations, or providing product demonstrations. The more value you provide, the more trust you’ll build.

9. Overcome Objections

Anticipate and address objections proactively. Understand common concerns that prospects may have and be ready with well-reasoned responses that put their fears to rest.

10. Close the Deal and Follow Up

Once a prospect is ready to make a purchase, guide them through the process smoothly. After the sale, don’t forget to follow up to ensure their satisfaction and inquire about referrals or potential upselling opportunities.

The Rewards of a Well-Crafted Sales Process

An effective sales process offers a range of benefits:

Higher Conversion Rates: A structured process increases the likelihood of turning prospects into paying customers.
Enhanced Customer Relationships: Building trust and providing value leads to stronger, long-lasting customer relationships.
Increased Revenue: A streamlined process can result in more sales and revenue for your business.
Efficiency: An organized sales process saves time and ensures you don’t miss out on valuable opportunities.

Crafting a successful sales process is a critical aspect of turning prospects into loyal customers. By understanding your offering, knowing your target audience, personalizing your approach, and providing value throughout the process, you can guide potential customers from the first point of contact to a confident purchase decision. An effective sales process is not just about making a sale; it’s about building relationships and delivering exceptional value, ensuring your business thrives in the competitive marketplace.

Product Mastery: Techniques for Elevating Consumer Awareness and Knowledge

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October 7, 2023

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In the contemporary business climate, when competition is stiff and customer options abound, having a great product is just half the battle. The second half is ensuring that your target audience is not only aware of your product but also well-versed in its benefits.

Product mastery goes beyond creating a top-notch product; it’s about making sure that your audience recognizes its excellence and understands how it can improve their lives. Without this mastery, even the most exceptional products can go unnoticed or underappreciated. Here’s how to unlock the techniques for elevating consumer awareness and knowledge.

1. Know Your Audience

Before you can effectively educate and inform your audience about your product, you must understand who they are. Conduct thorough market research to identify their needs, preferences, and pain points. This information will guide your messaging and approach.

2. Craft a Compelling Story

Consumers connect with stories, not just features. Create a compelling narrative around your product that communicates its value and how it can solve specific problems or enhance their lives. This story should be consistent across all your marketing channels.

3. Embrace Visual Content

Visual content is incredibly effective in conveying information and capturing attention. Invest in high-quality images, videos, and infographics that showcase your product’s features and benefits. Visuals are often more memorable than text alone.

4. Use Educational Content

Educational content can be a powerful tool for increasing consumer knowledge. Create blog posts, videos, webinars, or tutorials that explain how your product works, its unique features, and the value it brings. Position your brand as a source of valuable information.

5. Leverage User-generated Content

Encourage your existing customers to share their experiences with your product through reviews, testimonials, and social media posts. Authentic user-generated content can build trust and provide real-world examples of your product’s benefits.

6. Offer Demos and Trials

Allow consumers to experience your product firsthand. Offer free trials, demonstrations, or samples whenever possible. This hands-on experience can help them understand its value and functionality.

7. Provide Exceptional Customer Support

Responsive and knowledgeable customer support is vital for addressing consumer inquiries and concerns. A positive support experience can boost customer confidence in your product.

8. Engage on Social Media

Social media platforms provide an excellent opportunity to engage with your audience directly. Respond to comments, answer questions, and share informative content. Engaging with consumers builds a sense of community and trust.

9. Measure and Optimize

Track the effectiveness of your efforts by monitoring metrics like website traffic, click-through rates, and conversion rates. Use this data to refine your strategies and messaging continually.

10. Foster Brand Advocacy

Convert satisfied customers into brand advocates. Encourage them to share their positive experiences and recommend your product to others. Word-of-mouth marketing can be incredibly powerful.

The Rewards of Mastery

Mastery of elevating consumer awareness and knowledge has a profound impact on your product’s success:

Increased Sales: Educated consumers are more likely to make informed purchasing decisions.
Enhanced Brand Reputation: A knowledgeable and satisfied customer base can boost your brand’s reputation and credibility.
Reduced Customer Support Burden: Well-informed customers are less likely to encounter issues, reducing the workload on your customer support team.
Long-term Customer Relationships: By educating consumers about your product, you lay the foundation for long-lasting customer relationships built on trust and loyalty.

Product mastery involves not only creating a great product but also ensuring that your target audience is aware of its existence and understands its value. By employing these techniques, you can elevate consumer awareness and knowledge, setting the stage for increased sales, brand loyalty, and lasting success in the competitive business landscape.

JioMart announces MS Dhoni as brand ambassador, sets stage for grand festive campaign

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October 6, 2023

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JioMart, a subsidiary of Reliance Retail, has enlisted Mahendra Singh Dhoni as its brand ambassador, who will make an appearance in a 45-second promotional video.

In a statement, the company said, “In addition, JioMart has re-branded its festive campaign to JioUtsav, Celebrations Of India, which will go live on October 8, 2023. The JioUtsav campaign emphasizes the inference that Dhoni has given the nation several occasions to celebrate but has missed being a part of them. So, with renewed vigor, he is determined to celebrate all moments of happiness, festivities and special occasions with his loved ones.”

“We found a perfect fit in MS Dhoni as our brand ambassador with his personality representing trust, reliability and assurance, just like JioMart. Our new campaign lends itself to celebrating life and all its special moments with our loved ones, ‘shopping’ is an integral part of this revelry. Non-metro regions currently account for around 60 per cent of our overall sales, a sign of gradual growth and a true testament to the fruition of our efforts to democratize digital retail,” said Sandeep Varaganti, chief executive officer of JioMart, in a release issued on Friday.

At present, JioMart collaborates with more than 1,000 artisans and offers a diverse range of 150,000 distinct products.

On the occassion, Dhoni said, “I strongly identify and echo with the values that JioMart stands for, being a homegrown e-commerce brand, they are driven by a purpose to support the digital retail revolution in India. India is known for its vibrant culture, people and festivals, JioMart’s JioUtsav campaign is an ode to the celebration of India and its people. I am very excited to come on-board with JioMart and be a part of the shopping journey of millions of Indians.”

The movies are designed to showcase JioMart’s versatile expertise across various categories, as well as to celebrate the festive atmosphere and the fantastic shopping offers and discounts offered on the platform.

Last year, JioMart embraced a horizontal, cross-category approach, offering an extensive range of products across various segments. The platform expanded its selection by onboarding a variety of Reliance-owned brands, including Urban Ladder, Reliance Trends, Reliance Jewels, Hamleys, and others, further enhancing the diversity of offerings.

Nykaa shares surge 3% driven by projected 20% year-on-year growth in beauty sales

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October 6, 2023

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Nykaa, a major player in the beauty and fashion e-commerce industry, witnessed a significant uptick on Friday. The company’s shares surged by more than 3% to reach INR 151.55 during the early trading hours on the BSE. This remarkable performance was driven by Nykaa’s strong update for Q2 FY24.

In a filing with the stock exchange today, the company announced that it anticipates a year-on-year (YoY) growth of approximately 20% in the net sales value (NSV) for its beauty and personal care (BPC) business during the current quarter.

“The beauty vertical continues to expand through the ecommerce business, physical store expansion and growth of our owned brands,” said Nykaa, adding that the growth was supported by the success of its flagship event ‘Hot Pink Sale’ that took place in July this year.

In fact, the company asserts its strong performance in all its verticals, defying industry expectations of slightly reduced discretionary spending in Q2. This shift is largely attributed to a delayed festive season this year.

The company’s decision to move the festive season sales from September last year to October this year has had a certain influence on the Q2 FY24 growth. Nevertheless, the company has refrained from providing additional details regarding this impact.

In the meantime, the fashion division of the company has experienced significant momentum during Q2 FY24, a notable contrast to the overall apparel industry, which has continued to face sluggish demand in this quarter.

“Within the quarter, Nykaa Fashion has optimised the core category mix along with improvement in order volumes. Fashion net sales for the quarter is expected to grow in early thirties on YoY basis,” it said.

In Q2 FY23, the NSV for its Beauty and Personal Care (BPC) and fashion businesses amounted to INR 981.5 Cr and INR 175.3 Cr, respectively. Nykaa’s total NSV during the same period stood at 1,204.9 Cr.

Nykaa anticipates that its consolidated Net Sales Value (NSV) will experience mid-twenties growth, while its revenue is expected to see early twenties growth on a year-over-year basis for the quarter, mirroring the levels seen in the previous quarter, Q1 FY24.

In the preceding quarter, Nykaa witnessed an 8.2% year-on-year increase in its net profit, reaching INR 5.4 Cr, while its operating revenue surged to INR 1,421.8 Cr.

During the second quarter of FY23, the beauty e-commerce giant disclosed a net profit of INR 5.2 Cr and an operating revenue of INR 1,230.8 Cr.

Nykaa has stated that its overall performance in the first half of FY24 positions the company favorably for the rest of the year, as historically, the second half tends to see stronger consumer demand.

The stock on the BSE had gained 1.6% and was trading at INR 149.25 by 12 PM IST today.

NewsHub

The Rewards of a Well-Crafted Sales Process

1. Know Your Audience

2. Craft a Compelling Story

3. Embrace Visual Content

4. Use Educational Content

5. Leverage User-generated Content

6. Offer Demos and Trials

7. Provide Exceptional Customer Support

8. Engage on Social Media

9. Measure and Optimize

10. Foster Brand Advocacy

The Rewards of Mastery