Since its start, Nykaa has expanded by leaps and bounds. Their expansion is evidenced by the launch of their own beauty and skincare brand, a successful IPO, and much more! Despite the fact that Covid 19 outbreak halted many businesses to a halt, Nykaa thrived and grew to become one of the top e-commerce sites.
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Table of Content:
1) Concerning Nykaa
2) What Lessons Can Businesses Draw From Nykaa's Digital Marketing Techniques?
3) Case Study of Nykaa
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Concerning Nykaa
Falguni Nayar founded Nykaa, an Indian e-commerce firm headquartered in Mumbai, in 2012.
It operates on an inventory basis, having facilities in Mumbai, New Delhi, Pune, Haryana, Kolkata, and Bangalore. Nykaa was estimated at $85 billion (US$1.1 billion) in 2020, giving it the first unicorn business led by an Indian woman.
In contrast to its principal e-commerce operation, it will have an offline presence in the form of 76 brick-and-mortar locations around the country by 2020. Nykaa Luxe, Nykaa On Trend, and Nykaa Beauty Kiosks are its three offline shop concepts.
Nykaa features a number of in-house cosmetics and fashion businesses. Among them are the following:
- Nykaa Fashion - Nykd by Nykaa, RSVP, Mondano, Likha, and Pipa Bella
- Nykaa Naturals, Nykaa Makeup, and Kay Beauty are all part of the Nykaa House of Brands.
Since that we've gained a thorough understanding of the organization, let us move on to the research and evaluation of their marketing plan. But before, we recommend watching this video on Nykaa's road to becoming a $13 billion firm.
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What Lessons Can Businesses Draw From Nykaa's Digital Marketing Techniques?
- Expansion
- Posting Offers
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Case Study of Nykaa:
- Nykaa's Purpose: Nykaa's goal is founded on three fundamental values. There are three of them: information, curation, and personalization. The brand believes in providing the finest, which will assist people in making the greatest decision for their holistic beauty needs. "Inspiring Indians, both men, and women, to adopt life and dress sense that better suit them," says Nykaa's mission statement.
- The Business Plan of Nykaa: Nykaa is one of the rare businesses that use an inventory-based eCommerce approach. What exactly is an inventory model? A collection of commodities purchased directly from the purchasers is stored by the firm. We keep their goods in a warehouse. Warehouses for the brand are located in Mumbai, New Delhi, and Bengaluru. They sell their goods straight from there. The profit margin in this kind of business is very high. Such harm is exclusively the responsibility of the firm. They reached their breakeven point five years after they began operations. Initially, the cost of acquiring a client was Rs.1000/, but this has since been reduced from Rs.200 to Rs.300. Nykaa has established a physical presence in approximately 35 outlets.
Nykaa offers two shop styles: Nykaa On-Trend and Nykaa Luxe. Luxury beauty products are included in the Luxe category. The On-Trend format, in contrast, side, contains customized goods based on area appeal. Nykaa's target demographic is between the ages of 22 and 35.
It operates on an inventory basis and has facilities in Mumbai, New Delhi, Pune, Haryana, Hyderabad Bangalore, and Kolkata. Nykaa is expected to be worth $85 billion (US$1.1 billion) in 2020, making it the first unicorn company managed by an Indian woman.
In addition to its primary e-commerce activity, it will operate 76 brick-and-mortar shops across the country by 2020. Its three offline retail ideas are Nykaa Luxe, Nykaa On Trend, and Nykaa Beauty Kiosks.
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What is Nykaa's strategy?
Email Campaigns Approaches at Nykaa
Nykaa places great importance on brand positioning through the website, assuring that the intended audience has regular access to fresh and updated material. All over its primary base, the firm employs blogs, webinars, and customized adverts to increase internet shopping.
Nykaa places great importance on brand positioning through the website, assuring that the intended audience has regular access to fresh and updated material. All over its primary base, the firm employs blogs, webinars, and customized adverts to increase internet shopping.
How did Nykaa attain such incredible success in recent years?
Nykaa opened first ever-offline store in 2015, with the objective of becoming the country's largest beauty and wellness brand. With the launch of its initial store, Nykaa gave its consumers the ability to physically inspect a wide selection of items and established a strong omnichannel footprint.
What is Nykaa's comparative edge?
In contrast to its competitors, the company has a strong presence across all platforms on social media and is doing an outstanding job of promoting its brand throughout a variety of platforms. Nykaa uses influencer marketing to reach out to its clients on social media platforms.
What distinguishes Nykaa?
Nykaa is a direct-to-consumer (D2C) eCommerce company with an inventory-based strategy. The corporation buys a variety of items from several product lines. These are sent straight from the makers. They are kept at its warehouses in Delhi, Bangalore, and Mumbai.
