Do You Know How Nykaa Accomplished its Goals? A Must Read for Nykaa Sellers!
The Indian eCommerce market is on a mission to empower the Direct-to-Consumer business model in India. In this manner, Nykaa is an excellent inspiration for those dreaming of establishing themselves as an exquisite brand. The journey to becoming one of the top-notch online beauty brands in the country is not a cake walk at all. It takes a lot of effort, patience, dedication, market analysis, and analysis of customers’ tastes and requirements.
As a Nykaa seller or an eCommerce seller, you might be interested to know the success story of this attractive and alluring platform. It has achieved tremendous success in a very short period.
Undoubtedly, Nykaa has changed the way of selling beauty products and brought a revolutionary change to the beauty industry as well. If you want to level up your business, this blog is a must-read for you, consisting of the tactics this platform has used to acquire immense success. Let’s get in and find out what makes Nykaa an absolute beauty destination.
The Beginning of Nykaa’s Journey
Ten years ago, in 2012, success was quite away from this beauty eCommerce platform. In early 2012, the Indian beauty industry was not as advanced and profitable as it is today. It was only a dream of Indian customers to buy their desired products easily from international beauty brands. They had to wait for their relatives or friends to come back to India along with their desired international beauty products. Customers were not into buying online products for security reasons because many cases were reported of online fraud back then.
However, it did not stop Falguni Nayar, the CEO of Nykaa, from fulfilling her dreams. She quit her job as an investment banker in Kotak Mahindra bank and decided to start something of her own at the age of 50. She got the idea of Nykaa while visiting a Sephora store; she decided to start a beauty store in India that could change the way of shopping for makeup and beauty products for Indian consumers.
One of the Essential Steps of Nykaa’s Journey
Right after the launch of Nykaa’s eCommerce portal, they also launched their very first offline store in New Delhi. Currently, they have more than 60 offline stores across twenty prominent cities in India. Starting their journey with the association of all the major international and national beauty brands, in the year 2015, they launched their in-house beauty range, including bath & body care products too. Today, when we talk about buying online makeup and skincare products, Nykaa may be the first name to click our minds.
In a recent interview, Ms. Nayar said, “I always believed in the online business and was convinced that the new generation will rely more on reviews and peer recommendation rather than going to stores.”
Which eCommerce Business Model has Nykaa Adapted?
For any eCommerce business, deciding on an excellent business model is essential to help your business thrive as an eCommerce beauty brand Nykaa has adopted the D2C (Direct-to-consumer) business model that also follows an inventory-based model. This platform solicits their products directly from third-party manufacturers or beauty brands and stores them at their warehouses across the country.
Later they sell these products either on their online store or at offline stores such as Nykaa Luxe, Nykaa Kiosks, and Nykaa On Trend. This platform also produces products under their brand, which is also demanding among customers. The total brand value of Nykaa is around 14 billion dollars, and it is expected to exceed in the coming years. It sells over 2.14 lakh beauty and skincare products through its online store and over 80 offline stores. Slowly and gradually, it won the race and became Indian Sephora.
Three Tremendous Lessons to Learn From Nykaa
The beauty landscape of India has changed since the inception of Nykaa. Their success journey is unbeatable, which makes everyone curious about how they achieved such massive success in just ten years. Here we have mentioned some of the essential steps Nykaa has probably taken to flourish their business and conquer the massively competitive beauty industry. Being a Nykaa seller, you should also learn about these lessons if you have any plans to establish such a platform in the future.
Take Advantage of Influencer Marketing
Influencer marketing is one of the most demanding marketing tactics in the current scenario. It refers to the technique when brands collaborate with various social media influencers and celebrities to promote their brands on Instagram, Facebook, and other social media platforms. If you are a social media birdie, you must have seen various influencers promoting Nykaa’s products or their features on various social media platforms. Understand the Influencer marketing strategies of this beauty eCommerce platform in the following points.
- Nykaa gets along with influencers from all over the country; they do not have any shame in using even regional languages to their advantage while promoting their products. It reflects their understanding of customers’ preferences.
- They used it to share valuable and informative content instead of just promotional one. They tend to share content that can help their customers, including several beauty tips.
- They involve influencers in almost every campaign, whether the Pink Friday sale or any new product launch event. Celebrities like Janvi Kapoor, Bhumi Pednekar, Katrina Kaif, and Lisa Hydon are not the brand ambassadors of this beauty dynasty, but they also work as Nykaa influencers.
- Nykaa always prefers to play with words that attract customers’ eyes in the first place. They also provide advertisement copies to the influencers to enroll them in their promotion.
Generate Engaging Promotional Content
Content is the eventual king when it comes to advertising a product or a brand online or offline. However, online brands are more required because customers don’t have the leverage to analyze the products physically. If you focus on Nykaa’s promotional campaigns or advertisements, you can find engaging content that they have used to attract millions of customers.
Their social media pages, blogs, and portals are overflowing with intelligent choices of words and synonyms. Their strategy of delivering unique content always works. Their social media pages include Mynykaa, Nykaa Fashion, Nykaa Beauty, Nykaa Wellness, etc. These pages handle their various divisions with engaging content. Nowadays, they are more into posting engaging and informative Instagram reels.
Provide Extraordinary Customer Experience
Providing impeccable customer experience is one of the significant aspects of any eCommerce business. Nykaa also understands this fact very well and works continuously towards making their customers happy. In terms of delivering excellent customers, this platform has advanced features that remember customers’ recent searches and suggest popular products and brands per their requirements.
They have a special section of beauty advice where anyone can get essential advice related to beauty and makeup. This platform always notifies customers about upcoming sales, discounts, and attractive offers. The Nykaa app always ensures that its customers never miss out on their latest offers.
International Brands That are Associated with Nykaa
- Bobbie Brown
- Huda Beauty
- Loreal Paris
- Estee Lauder
- Forest Essential
- Bath & Body
- The Body Shop
The Ultimate Proposition of Nykaa
Nykaa is entirely different from other eCommerce platforms due to its unique proposition of focusing precisely on beauty and fashion. They have selective yet popular products at competitive prices. The availability of major international beauty brands also sets them apart from others, making them a ruling dynasty in the beauty industry. Its portal is quite user-friendly and provides try-and-buy features to its customers. Hence, we can say that all these unique concepts are the primary factors behind its glorious success.
Hope the above essential information about Nykaa has encouraged you to keep your dream alive and attain immense success for your online business. If you are a Nykaa seller, you must spend some crucial hours understanding the business strategies of this platform. Being associated with this beauty platform can also provide you with an immense opportunity to connect with a solid customer base. The journey of Nykaa and Falguni Nayar is awe-inspiring and inspiring in various ways. Implementing their tactics can be helpful for your online business as well.