Reverse Pitch | Today’s digital-first economy is creating B2C brands almost overnight1 min read . Updated: 17 Dec 2019, 09:41 PM IST
Despite being a relatively new entrant to the digital field, India has already emerged as the fastest-growing e-commerce market across the globe
India’s burgeoning startup ecosystem is teeming with innovative consumer-facing businesses across sectors, proliferating at an unimaginable pace. Despite being a relatively new entrant to the digital field, India has already emerged as the fastest-growing e-commerce market across the globe. The consumer-driven market ecosystem has grown on the back of growing consumer awareness, enhanced standards of living, and an ever-expanding class of families with more disposable income. The past few years have seen double-income, no-kids families entering the mainstream. In a bid to tap this lucrative customer base, new-age customer-focused enterprises are emerging in the market faster than we can think. Their objective? To enhance the lifestyle of the modern-age Indian consumers by providing them with best-in-class products.
Unsurprisingly, as per Assocham, India’s luxury market grew from $23.8 billion in 2017 to $30 billion in 2018. This growth can be attributed to factors such as the growing purchasing power of the Indian upper class beyond the metropolitan regions and the increasing exposure of the new-age consumer base to international brands. On the back of these developments, various sectors, including food and beverages, consumer packaged goods, personal care items, branded apparel and fashion have become the barycentre for enthusiastic investor activities. With traditional as well as digitization-led sales and distribution technologies making consumer sales more efficient, investors are getting more flexible in terms of funding and accepting innovations. Indian retail, for instance, attracted investments worth ₹1,300 crore in 2018 and witnessed the inflow of $1.66 billion FDI equity from April 2000–March 2019, as per data by DIPP.
With today’s increasingly digital-first economy and genzennial consumer base, B2C brands are being created almost overnight. Solving pertinent pain-points experienced by Indian consumers, young innovators carrying high-impact and disruptive ideas are fast rising to illuminate the country’s entrepreneurial firmament. The best part? We are just getting started.
Reverse Pitch is like a normal investors pitch, but with the roles reversed. That means the startup doesn’t present its business to investors but investors and companies pitch their business concepts, challenges and the like to startups.