With a population over 1.3 billion people, India strives to be the biggest retail market. The business and marketing process of the companies especially the consumer goods and retail market have faced a greater change, accelerating to the flourishing marketing techniques and strategies in the new normal. Over 2/3rd of the retail business would move towards e- tail in next five years is the hot talk for the day.
Untapped
by the consumer trends over product specialization and price differentiation,
the new age customers also called the “neo-consumersist”, expects the
traditional players in the retail market to cater their needs in the trend of
consumption through E Commerce.
The
rise in the online shoppers with the advent of 130 million on-line purchasers
fuelled by the growth of the Internet Eco system have made the D2C Business
line, flagging.
Despite
the business process the company involved in, the growth of market penetration
through D2C, by e-commerce is witnessing a greater rise over the past two
years. The branding strategies of Sugar Cosmetics, Mamaearth, Boat, the
internet driven brands have raised a bunch of customers, establishing a strong
only brand buying strategy.
Adding
to the effort in understanding the D2C marketing techniques, the strategies can
be settled as Conventional and Non-Conventional.
Speaking
of the conventional strategies,
MAKING USE OF THE FOOTFALLS:
As
a brand grows, the cost of escalation and profit erosion occurs when the right
logistic and end-to-end supply chain is poorly monitored. An efficient brand
building should focus on optimizing the delivery system, adapting fleet
dispatching, route and cost optimization.
DISCOUNTING:
Even
since the bloom day of the retail marketing, the discounting strategy is on the
sailing boat. Psychologically, people
love quantity more than the quality for the given price. If given a choice,
their inclination will be more upon the quantity of products being purchased
rather than the quality. Thus a basket of discount strategies including:
·
Personalized discount
·
Cart-value discount
·
Time-bound discount
·
Free shipping
·
Free vouchers and gifts on purchase can be implied to attract
the customers.
INCREASING BASKET SIZE:
Adding
new product line, and launching new products timely ignites the customer experience.
Many business today shows a phenomenal growth in their early years then plateau.
Developing and strengthening the R&D and increasing the basket size of
products. A core business through e-commerce can attain a prolonged
profitability only upon driving the customer interest by product R&D and
diversification.
Extending
to the Non-Conventional methodologies,
TRADE ORGANIC:
Reports
finds that the millennials and the Zen Z customers prefer to buy sustainable
products. The green area of D2C is thus captured. Any product given the
identity organic and sustainable attracts the customer conscience. The strategy
also increases the brand-value and directs the customers who looks for
sustainable products to the home company websites.
BUILDING CUSTOMER EXPERIENCE:
A
good website drafts the personality of the brand. By building a topnotch search
bar and with speed of response, advanced payment features and personalized
customer centric product content, ultimately drives the customers directly to
the website, avoiding middle men E- Commerce companies as Amazon and Flipcart.
FOCUS ON NICHE MARKET:
The
expense of marketing can be controlled upon focusing the convertible niche
market instead completely focusing upon the large consumer market. Besides the
tools and techniques at the back-end, the business holdness holds a strong hand
in the customers mind only when offered the quality ensured products. Focussing
on the quality plays as the Word of mouth business strategy thus enhancing the
brand value.
The future of the D2C market is anticipated to face a
robust growth on its capital efficiency. On leveraging the business focus
towards D2C marketing, an emotional connect with the customers can be
established provided a strong channel variability, strong operations. quality
by building a global value proposition!
