This newsletter was co-written with Thu Huong Le.
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US$1.2 billion.
That’s the amount of funding direct-to-consumer (D2C) brands in India have attracted from investors this year alone.
Since the pandemic hit the country last year, the number of online shoppers has shot up to 150 million and is likely to touch the 200 million mark in just a couple of years. This growth in online shopping, coupled with rising income and the evolving aspirations of the middle class, have led to a direct-to-consumer boom in India.
The internet has empowered consumers, many of whom opt to shop with online brands as prolonged pandemic restrictions keep most at home.
From offering flavored instant coffee to flavored shaving foams, India’s D2C companies are disrupting legacy brands by uncovering the unmet needs of customers. The sector has also produced its first unicorn (Lenskart) with at least six others expected to soon join the club.
In this week’s big story, we take a closer look at what is fueling the D2C fire in India and why this space is as exciting as ever.
— Samreen
THE BIG STORY
The decade of D2C has just begun in India
Image credit: Timmy Loen
With consumers ready to experiment and spend on branded goods, direct-to-consumer businesses in India have an opportunity like never before.
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