Event report
Webinar on DTC and the New Retail
IFCCI organized its second Retail Committee meeting via webinar on Friday, 18th November 2022 on the topic ‘‘DTC and the New Retail’’.
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Retail Committee under the aegis of Indo-French Chamber of Commerce and Industry, organized a webinar on Friday, 18th November 2022. The objective of this Session was to present the DTC model prevailing in India and to put forward some case studies regarding the ‘New Retail’. Session began with Mrs. Shweta Pahuja (Head-Business Support Services, IFCCI) welcoming the Committee Executives and all the participants for the day, followed by the welcome address from Mr. Satyen Momaya, Chairman, IFCCI Retail Committee.
Mr. Pawan Kumar Dasaraju, Founding Member, Mensa Brands opened the session by highlighting three important questions which Mensa brands focused-on, in its journey i.e. ‘‘What does success means for a DTC brand?, What drives this success ? How do we leverage upon Technology?’’. According to Mr. Dasaraju, India is at the cusp of S curve. He sighted studies which prove that the consumption will go-up in India and it will transition mostly into online consumption. He expects that consumption will become more ‘Branded’. By using some online tools, it has become much more easy measure consumer experience by drawing a clear distinction between ‘Consumer loved brands’ and ‘Not so consumer loved brands’. An ADA (Available-Discoverable-Affordable) model can get the momentum going for a DTC brand.
Ms. Shreedha Singh, CEO and Co-Founder, The Ayurveda Company highlighted the presence of ‘Massy’ and ‘Classy’ ayurveda brands spread across India like Patanjali, Dabur on one-hand and Kama Ayurvada, Forest Essentials on the other. For the ‘New Retail’ she highlighted the fact that customer feedback is the key to success for a DTC brand and making customers a part of your brand building journey through trial groups might be useful. Experiential selling is equally as good as having a social media influencer or a celebrity being a part of your brand building process.
After both the speakers, the webinar was followed by a Q&A session.
Finally, Mr. Ganesh Parameswaran, Vice-Chairman, IFCCI Retail Committee concluded the session with a ‘Thank you’ note.
