India D2C Summit 2023 forecasts USD 25 billion revenue surge in the country's Thriving D2C Market
Mumbai (Maharashtra) [India], June 9: The India D2C Summit & Awards 2023 presented by DHL and powered by GreenHonchos kicked off its second edition with an impactful keynote address by Mohit Rana, Partner at Redseer. Rana highlighted India's impressive digital progress, positioning it as a leading nation in technology adoption. With 9,000 brands currently operating and a projected revenue of USD 25 billion, the D2C landscape is experiencing remarkable growth.
Throughout the day, industry experts shared valuable insights in various sessions. BS Nagesh, Founder of TRRAIN and Chairman of Shoppers Stop, hosted a session on the Future of FMCG & Consumer Brands in Digital-First India. Customer centricity took center stage as Nagesh emphasized the importance of catering to customer needs for successful product design. Ashima Aggarwal, E-Commerce Business Head at Bajaj Consumer Care, highlighted the robust growth of the FMCG sector, particularly in rural hair oil business. The evolving mindset within FMCG, embracing customized business models and technological advancements despite inflation, was discussed. Swati Dayani, CTO at Cipla, stressed the significance 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, revealing that the D2C segment currently accounts for 20 per cent of E-commerce and is projected to grow to 40 per cent.
The first segment of the Summit also witnessed the release of the book 'D2C Evolve', launched by Dhruv Thakkar, Senior Director - Business Development, DHL Supply Chain, India. 'Evolve' details the struggles and success stories of some noteworthy D2C brands in India's dynamic D2C landscape.
The second day continued with a captivating session on the power of social media influencers and online celebrities in driving D2C businesses to new heights. Experts shared insights on successful influencer collaborations, highlighting authenticity, audience connection, and content relevance as crucial factors in building a strong brand presence in the D2C domain.
Another session focused on enabling exceptional customer experiences in every touchpoint, discussed the importance of safe and seamless payments for sustainable growth. Abhishek Gupta, Senior VP of Growth-D2C Business at MamaEarth, shared the company's learnings from COVID-19 and how personalized customer communications and innovative technologies led to revenue growth. The session also covered the journey from bootstrapping to securing funding for D2C businesses, including valuation methods, investor pitching, and exploring future D2C enterprises.
Later in the night the grand finale of the event was the IMAGES India D2C Awards 2023, powered by DHL, which honored exceptional achievements in the D2C industry. The jury comprised highly respected and influential individuals from diverse backgrounds. Ashish Dhir, Executive Vice President (Consumer and Retail) at 1 Lattice, along with Arjun Vaidya, Ventures Lead - India at Verlinvest, Rishav Jain, MD at Alvarez & Marsal, and Vamshi Reddy, Partner at Kalaari Capital, and many more who brought their expertise and insights to the evaluation process.
The esteemed winners included Vineet Singh, Co-founder & CEO of SUGAR Cosmetics, recognized as the Most Admired D2C Star of the Year. Plum Goodness received the title for the Most Admired D2C Marketing Campaign of the Year in Offline Marketing. Accessorize London and Lavie jointly earned the Most Admired D2C Brand of the Year in Accessories & Lifestyle, while House of Chikankari was celebrated as the Most Admired D2C Brand of the Year in Apparel. These awards signify the remarkable accomplishments of these D2C brands and individuals, setting new standards for innovation, marketing, and brand building within the industry.
The event concluded with a networking event and cocktails, marking the end of the successful two-day summit filled with valuable insights into the thriving D2C market.
India D2C Summit & Awards is an annual event by the IMAGES Group dedicated to promoting and supporting the growth of direct-to-consumer (D2C) businesses in India. Through insightful sessions, panel discussions, and networking opportunities, the summit aims to equip entrepreneurs and professionals with the knowledge and strategies needed to build, operate, and scale profitable D2C enterprises. The event also recognizes and celebrates the achievements of outstanding D2C brands through the India D2C Awards.
Established in 1992, IMAGES Group is India's most prolific and influential disseminator of retail intelligence. Recognised by Indian and international retail communities through its B2B Magazines, Conferences, Exhibitions, Research Reports and Web Portals, the IMAGES Group is the largest retail intelligence organization in South Asia and the Middle East, whose multiple products and services function as catalysts for the profitable growth of modern retail through knowledge platform leadership. The Group's knowledge platforms include print and online reportage, research studies, and major annual business events with Conferences, Master-Classes and Workshops serving multiple verticals/segments/operations of retail. The mega industry events include: India Food Forum, India Fashion Forum, Phygital Retail Convention, Internet Commerce Summit, India D2C Summit and the Middle East Retail Forum.
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