When it comes to beauty products, Nykaa has been a breakthrough. It has single-handedly brought many customers to the internet to order cosmetics. The platform became the go-to platform for cosmetics.
Nykaa is an Indian brand specialising in providing cosmetics, skincare, haircare, sanity, fragrances, bath and body products for both men and women. During the peak of covid, Nykaa came up with a strategy of selling sanitary products like PPE kits, masks, sanitisers and other personal care products.
Recently Nykaa CEO Falguni Nayar made history by becoming India's newest billionaire. Here are some of the differentiators that made Nykaa unique and successful that you should read if you are planning to become the next well-known brand.
Nykaa's Innovative Business Model
Nykaa's business model is simple, yet powerful. It must be quite a tough job to manage the delivery of so many products across India, delivering products accurately requires a lot of hard work and strategy. Nykaa has the inventory model strategy and believes in being the customer first.
They store all the stock brands and products in their warehouses across India and directly deliver them to the customer. This model helps deliver satisfied quality checks and stockpiling them in a safe environment.
Strong Digital marketing
Digital media is getting a lot of attention in today's world and digital media and blog content of Nykaa with detailed review section allow everyone to discover more about the product and review section also allows viewers to discover more about a product and what is on the label. Moreover, you can also notice their social media posts which are eye-catchy.
On the other hand, their influencing technologies are involved in product education, correct usage, and custom application of beauty products. They have also used top beauty influencers to create digital content explaining its usage and also partnered with many top brands for this. We can see that Nykaa runs TV now. Janhvi Kapoor is Nykaa's brand ambassador as of now and promotes it across print, electronic and digital media.
Try and Buy Product Strategy
Nykaa's mini makeup products are a promising business technique. They are small-sized trial packs of larger sized beauty products. These mini makeup products allow consumers to try small quantities of expensive products and their quality. This lets Indian women afford expensive brands but also feels satisfied after investing in them. This resulted in international brands like MAC investing and launching their mini products on Nykaa.