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The #AcceDin doctrine about The Next Billion User.
MD of a prominent VC firm told me, "I've been only hearing about the POTENTIAL of India for past 20 years"
Lets start with e-commerce.
The #30bn in 2018 is aimed to grow 3X and touch $85bn by 2024. BUT https://twitter.com/alnehaa/status/1276029677568552961
The #AcceDin doctrine about The Next Billion User.
MD of a prominent VC firm told me, "I've been only hearing about the POTENTIAL of India for past 20 years"
Lets start with e-commerce.
The #30bn in 2018 is aimed to grow 3X and touch $85bn by 2024. BUT https://twitter.com/alnehaa/status/1276029677568552961
It was supposed to be #55bn by 2018. And about $100bn by 2020. https://www.livemint.com/Consumer/PUG9ACuFBxi0UMGYDZVopI/Indian-ecommerce-sales-to-reach-55-billion-by-2018-report.html
Well...
Well...
2014 vs 2019. It looks like this if we single out a e-commerce player. The 1bn is a permanent moving target?
The Keyword is OMNI-CHANNEL
Why?
The Keyword is OMNI-CHANNEL
Why?
a) The India1 audience, the 40 million or so are the one's who really shop anything significant online.
b) Our PCI is ~$2000 (China, $20K, USA $60K)
c) Usual trust deficit in buying online
d) Shopping in person, retail is an experience & a family outing
Ok. But who to WIN?
b) Our PCI is ~$2000 (China, $20K, USA $60K)
c) Usual trust deficit in buying online
d) Shopping in person, retail is an experience & a family outing
Ok. But who to WIN?
Strategies to Win.
ONE: Start with addressing trust deficit
dotCom business now have store name with their .com!
The 5th P in Marketing, 'Physical Evidence' is key in India.
Although Myntra started it, didn't pursue https://twitter.com/sreeraman/status/1007456776181043200?s=20
ONE: Start with addressing trust deficit
dotCom business now have store name with their .com!
The 5th P in Marketing, 'Physical Evidence' is key in India.
Although Myntra started it, didn't pursue https://twitter.com/sreeraman/status/1007456776181043200?s=20
Strategies to Win.
TWO: Humanise
This hole in the shop owner is not a Wealth Creation expert or Fintech Thought Leader. He simply speaks to customers in their local language; gets them things done.
TWO: Humanise
This hole in the shop owner is not a Wealth Creation expert or Fintech Thought Leader. He simply speaks to customers in their local language; gets them things done.
Strategies to Win.
THREE: Localise
You have heard this one hundred times. Here's 22 reasons
THREE: Localise
You have heard this one hundred times. Here's 22 reasons
Strategies to Win.
FOUR: There is NO Middle Class https://www.economist.com/briefing/2018/01/11/indias-missing-middle-class
'Middle class is a mindset' and not a people. An auto driver with income of 3Las pa will spend 3Lac on Daughter's wedding. But not Rs30 per month on a Subscription
This mindset is Deeply Indian. Exhibit A
FOUR: There is NO Middle Class https://www.economist.com/briefing/2018/01/11/indias-missing-middle-class
'Middle class is a mindset' and not a people. An auto driver with income of 3Las pa will spend 3Lac on Daughter's wedding. But not Rs30 per month on a Subscription
This mindset is Deeply Indian. Exhibit A
Strategies to Win.
FIVE: Urban is not opposite of Rural.
The largest slum is 20 mins away from the most expensive home in the World. The dichotomy is highly nuanced, yet in plain sight.
Learn about your consumers and personalise, do not go by geographic segmentations.
FIVE: Urban is not opposite of Rural.
The largest slum is 20 mins away from the most expensive home in the World. The dichotomy is highly nuanced, yet in plain sight.
Learn about your consumers and personalise, do not go by geographic segmentations.
Strategies to Win.
SIX: Pricing is a differentiator. Lower the better.
About 1% of all Atta consumed is branded / packaged. The pricing is >>> than convenience and consistency
This pic of flour mill was shot near the posh Juhu locality in Mumbai.
SIX: Pricing is a differentiator. Lower the better.
About 1% of all Atta consumed is branded / packaged. The pricing is >>> than convenience and consistency
This pic of flour mill was shot near the posh Juhu locality in Mumbai.
Strategies to Win.
SEVEN: Assisted Technology wins
People have it hard to learn about tech. Make your communications & UX for least common denominator and not for your peers to say 'wow'
Here's a human at a self order Kiosk. Invest in assistance to reap benefit in long term
SEVEN: Assisted Technology wins
People have it hard to learn about tech. Make your communications & UX for least common denominator and not for your peers to say 'wow'
Here's a human at a self order Kiosk. Invest in assistance to reap benefit in long term
Summary.
1. Forecast reports are made to fit a narrative. Go easy on them
2. Pay attention to cultural nuance and people's behaviour in general.
3. Bust your echo chamber, don't look at your peers and competition, but at end consumers
#Marketing. #ecommerce #NBU #India.
FIN
1. Forecast reports are made to fit a narrative. Go easy on them
2. Pay attention to cultural nuance and people's behaviour in general.
3. Bust your echo chamber, don't look at your peers and competition, but at end consumers
#Marketing. #ecommerce #NBU #India.
FIN
