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Become A Startup Insider With Inc42 Plus
Join our exclusive community of business leaders &makers for in-depth tech stories and intelligence on India’s tech economy you won’t find elsewhere.
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From A-list celebrities throwing their weight behind direct-to-consumer (D2C) brands to legacy players entering the dynamic world of D2C, today’s consumer brand landscape is experiencing transformative changes.
In this evolving landscape, more consumers, especially millennials and Gen Z, are prioritising convenience alongside selection and affordability. This shift is evident from the search to checkout and post-purchase stages, indicating a maturation in the online consumer journey. Customers now seek a premium experience throughout the entire value chain.
These rapid changes can also be attributed to the rising consumer demand for innovative and customised products, instant access to brands across channels and valuable product insights, often leading to the adoption of new brands. Together, these shifts in consumer behaviour have fuelled the overall D2C growth and pushed certain mass-appeal brands into the limelight.
A look at the market estimates further supports this breakthrough growth. By 2025, India’s total addressable D2C market is estimated to reach $100 Bn, a threefold increase from $33.1 Bn in 2020.
Amid the ongoing digital revolution in the consumer retail space, it is essential to explore the ‘core’ aspects of D2C businesses and look closely at ‘conversions’, a critical element contributing to the growth of D2C brands.
To understand and navigate the intricacies of conversion in the consumer brand landscape, Inc42 and Simpl organised a roundtable titled How D2C Brands Can Master The Conversion Game To Unlock Growth under the series – Consumer Brands Reimagined.
The session covered many critical topics, including:
- How D2C brands personalise users’ website journey
- How market trends impact product portfolio expansion
- How data and technology help streamline user experience
The roundtable brought together leaders from various consumer brands. Among them were Shreedha Singh, cofounder and CEO of The Ayurveda Company; Dhruv Madhok, cofounder of Arata; Kuldeep Parewa, founder and CEO of Anveshan; Aman Gupta, CMO at Farmley; Nihal Kalra, cofounder and CEO of The Decor Kart; Ravneesh Dhaneshwar, former director of growth at Earth Rhythm; Ankit Dass, founder and CEO of Zaydn Sneakers; Eshita Anil, head of performance marketing at boAt, and Shivam Dang, head of D2C growth at checkout network Simpl.
Digvijay Ghosh, a partner at EY-Parthenon, moderated the session. With 15 years of experience in the consumer product and retail industry, he is an expert in pushing the growth agenda for consumer brands by transforming their route-to-market and digital commerce capabilities.
Inside The Conversion Matrix: Strategies And Insights For D2C Success
In business and marketing, conversion serves as a critical outcome metric indicating specific and measurable actions by users. It signifies the achievement of a coveted goal, be it product purchase or active product engagement.
D2C brands employ diverse strategies to drive conversion, recognising that the goal goes beyond merely initiating transactions. It is all about achieving specific outcomes to ensure business success. Therefore, brands will meticulously refine UI/UX, personalise experiences and incentivise users with deals, discounts and loyalty programmes.
“We ran a campaign called ‘build your own bundle’, allowing customers to buy three or four different products. However, customers could purchase only one product from a specific category/range. If a shopper buys four products from four different categories and spends, say, INR 1,099 [instead of getting just one for the same price], chances are at least one or two products will stick in that household, and conversion will rise,” said Dhruv Madhok of Arata.
However, there are conversion loopholes within the current system.
“For example, in a typical checkout system, out of all the users 70% drop at the checkout due to friction while only 30% complete. You have to fill in long forms every time you visit the same website because there is no personalisation, and it takes three to five minutes on average,” said Shivam Dang of Simpl.
“Just improving the checkout experience with a single sign-on can work wonders. Marketplaces have set the standards for this. Your address and card details are saved whenever you enter a marketplace. Why can’t we do the same on D2C websites?” he queried.
To explore the key factors driving conversion in the D2C space, from digital display to product portfolio mix, omnichannel commerce to data-driven insights and technology impact, Watch the Inc42-Simpl roundtable — How D2C Brands Can Master The Conversion Game To Unlock Growth.
