Launched with an aim to create a mass Ayurveda brand, IndiaShoppe, an emerging D2C ecommerce firm has registered 22 percent growth from 2020 to 2022. Established in 2013, IndiaShoppe is offering premium wellness products by collaborating the benefits of integrated supply chain and logistics management besides the production of the Ayurveda products. Since the inception IndiaShoppe has grown steadily and currently has sixty-five stores spread across twenty-seven states in India especially in the cities like Jaipur, Baroda, Nasik, Madurai and Guwahati. These stores operate under COCO and COFO Models and are located in various Metro, Tier I, Tier II and III cities and towns in India.
Journey as an omnichannel retailer
Back in 2013 even when IndiaShoppe started, it was very quick to identify that Omni-channel was not just going to be the way forward in the market but also its business model. Mitesh Bhandari, CFO, IndiaShoppe made an interesting observation, “Once you bring out a product and it actually helps someone, it doesn’t take long for it to reach new households, if you follow customers’ feedback in a right way.” Soon after introducing its products to customers in Tier I and Tier II cities (who’re more welcoming), they did realize that IndiaShoppe’s products delivered what they promised. Therefore IndiaShoppe started getting repeat orders in no time. Those who had tried it initially shared & vouched the Ayurvedic products offered by the company, with their friends and family. This wouldn’t be the case in a Metro, where the more exposed and educated people, only doubt & be more skeptical in trying anything ‘new’! It is the customer’s trust and the products, which have helped in widening the market share and earning more customers.
Diversified range of Ayurvedic products
The company offers a diverse range of products under several brands that are based on Ayurveda, for Nutritional-care, Health-care, Personal-care, and Home-care. Moreover, IndiAgro the latest addition of Agro-care products is an exclusive collection to support the Farmers from this land of agriculture. On and On 9E5 is the Premium health drink offered by IndiaShoppe, which is a star product that comes in a box with 30 single-use sachets, to be taken over a month. Also, Kavachprash , Bhringraj oil and Herbal toothpaste are some of the other high selling products.
Future looks bright
As an emerging economy, India has been witnessing a rapid change in lifestyle, coupled with rising levels of disposable income among the middle class, or the largest segment (65-80%) of the population in India. It is going to be driving the future growth potential over the decade, nationally. For eg. typical holiday destinations in states like Kerala, Meghalaya and Goa have always been attracting (international) tourists for holidaying. But with increased awareness of Ayurveda and mental-health, their retreat packages are being marketed as “Wellness Breaks” that offer a wholesome holiday that is free of toxins, chemicals and artificial products etc., for cleansing the body and mind. So, it is evident that the market has been responding positively and is shaping-up strongly.
Rise of E-commerce
IndiaShoppe can confidently claim to have grown into a household name, especially in the West and South sides of the country, where its products are part of the monthly grocery for the entire family and not just members of a family. From the sales pattern of products offered by IndiaShoppe like herbal toothpaste or KavachPrash in Gujarat, Maharashtra, Kerala and Tamil Nadu which are the key-markets, it can be ascertained they are ideal for a family’s use.
Ayurveda always in fashion
As the company believes, associating ‘New’ with Ayurveda may be difficult to digest, but apart from the science that goes into this school of medicine, it has always been in vogue. As Mitesh Bhandari, CFO, IndiaShoppe says, “At IndiaShoppe, though, the packaging, labeling and positioning have all been done and re-done keeping the current consumers in mind, the composition, ingredients, process and preparation have been followed and maintained as per the scriptures to ensure they deliver the intended efficacy in usage. We have complete trust in our traditional remedies and we believe that they are here to stay forever.”
The company’s average CAGR over the past decade has been 20 – 23%, this year has been quite challenging, due to pivoting of models, the introduction of digital products, change in management, and different modus operandi. IndiaShoppe expects the revenue projection for ‘22-23, is in the range of 1400-1500 Crore and in the next year, the Ayurveda based firm should be touching at least a 20% growth.