Wednesday, December 8, 2021

NYKAA Beats Amazon and Flipkart Now in E-Commerce War

NYKAA beats Amazon and Flipkart; Nykaa, the emerging e-commerce company who beats amazone and Flipkart. Let’s know how it beats Amazon, Flipkart and myntra and become billion dollar worth company.

What are their strategies and models. Which type of problems they solved in their model and also their threats and opportunities.

NYKAA beats Amazon and Flipkart
NYKAA beats Amazon and Flipkart

Problems of Customers and Solutions of Nykaa

What you need to understand first is the three modes of retail distribution for beauty products in India. The first model is unorganized retail which includes small general stores and drug stores. The second model is organized retail which includes exclusive brand outlets and beauty salons.

The Third model is online retail which is selling online. The biggest issue we have with all these models, except for some blind outlets. There are three major problems that customers are facing in the beauty and personal care sector.

Accessibility: However a large section of Indian consumers want to buy beauty products from reputed company but due to accessibility. And this lack of reach is mostly faced by tier two and tier three audiences. This is why after the Jio wave the online market size grew just $206 million in 2017 to $1 billion in 2021.

Duplicate Products: But with the rise of online retail, another problem has arisen. Unfortunately, even in reputed markets such as Amazon and myntra, sellers offer duplicate beauty products. That drastically affects the online experience of the customers.

Lack of transparency: When it is about beauty products we should aware of the ingredients used in them. Specifically, in reputative brands it is important, it doesn’t contain any allergic. But in spite of this amazone and myntra are not able to address the same thing. In fact, many people said that they sell even expired products or hide purposely. This gives a terrible experience to innocent customers.

In this scenario, Nykaa emerges as a game-changer. It not only increase the accessibility of online presence but also understands each one of the problems of customers. To solve all these problems they come with some strategies.

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NYKAA beats Amazon and Flipkart

Strategies of Nykaa

Inventory model: Instead of giving opportunities to newcomers to sell their products, they procure the products themselves. They did it to avoid duplication of products. So the question is why Amazon, Myntra, or Flipkart a billion-dollar not doing the same.

The answer is they can’t do it because of the new government regulation act. According to which no FDI on the inventory model. Since Nykaa is an Indian company, they can do the same.

Omni Channel approach: like most of the company Amazon, myntra and Flipkart just sell their products Nykaa tries to build a deeper relationship with customers. They want to be a part of their life. They maintain a beauty book on their websites.

In this book, they do not give the info of the product but they educate the customers about the products. Also, they have 40,000 active weekly users and also expert lives on their platforms. They did incredible with their content marketing, with help of more than 3,000 influencers and artists. And this is how Nykaa beat Amazon and Flipkart in e-commerce.

Also Read; Delhi Air Quality Index and Polluted River Yamuna

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