The second edition of India D2C Summit 2023 (D2C 2023) kicked off yesterday with an enlightening keynote address by Mohit Rana, Partner at Redseer. Rana shed light on the rapid growth of the Indian market, boasting 9,000 operating brands and a projected revenue of $25 billion in the coming years.
Rana emphasized India’s remarkable digital development, positioning it as a technology adoption leader. Notably, D2C brands have experienced a staggering 60% growth since
2015, propelled by the surge in online sales and establishing a thriving presence in the
Indian market.
Later in the day, BS Nagesh, Founder of TRRAIN and Chairman of Shoppers Stop, hosted a session on the ‘Future of FMCG & Consumer Brands in Digital-First India.’ Nagesh underscored the critical role of customer centricity, highlighting that meticulous product
design alone holds little value if it fails to cater to customer needs. Ashima Aggarwal, E-
Commerce Business Head at Bajaj Consumer Care, discussed the robust growth in the FMCG sector, particularly in the rural hair oil business, and shared insights on embracing
customized business models and technological advancements despite inflation. Swati Dayani, CTO of Cipla, shared the importance of credibility, reliability, intimacy, and self-
orientation. Deepti Naithani, Director – D2C Business at Tata Consumer Products, stressed on the effectiveness of word-of-mouth and testimonials for D2C brands. The D2C segment currently accounts for 20% of e-commerce, and is projected to grow to 40%.
During panel discussions, industry leaders shared valuable insights. Satish Singh, Founder & CEO of Joker & Witch, highlighted customer behavior in leaving reviews, noting the challenge of feedback from busy happy customers and the tendency of irate customers to share negative experiences. Aparna Thyagarajan, Co-founder & CPO of Shobitam, emphasized global selection, authenticity, value-added services, customer care, and quality as crucial elements in establishing a robust brand. Aashish Batra, Co-founder of myPAPERCLIP, stressed the importance of understanding the evolving consumer mindset and providing extraordinary experiences.
The summit witnessed a significant highlight with the unveiling of the book ‘D2C Evolve,’
which provided a comprehensive account of the challenges and triumphs experienced by
notable D2C brands in India’s ever-changing landscape. The book was launched by Dhruv
Thakkar, Senior Director – Business Development at DHL Supply Chain, India.
Anand Shankar, Vice President of Sharrp Ventures, delved into the strategies and innovations essential for brands to thrive in the rapidly evolving D2C market. He shed light
on the dynamic nature of the industry, presenting numerous opportunities for forward-
thinking businesses.
The first day of the summit also featured sessions on D2C profitability, omnichannel growth, conversational commerce, and differentiation in the age of ultra-fast delivery. Industry experts provided insights on building robust business models, leveraging AI and ML capabilities for better customer connections, and the challenges faced by D2C brands in
acquiring and retaining consumers.