According to Aman Gupta, co-founder of wearables brand BoAt, new-age brands in India have been expanding at a much faster pace than expected, driven by digital channels like quick-commerce.
"Investors doubted the potential of D2C brands when we started, but today there are multiple brands in the startup market that are growing on the shoulders of these digital channels," Gupta said while addressing a session at Razorpay's D2C and Retail Summit last week.
He pointed out several challenges that D2C brands such as BoAt had to face initially. "We had to deal with a lot of cash when we started as people would prefer 'cash on delivery' services to avoid the complexities of digital payments,” he said.
Gupta said digital commerce has evolved on multiple fronts and payment gateways have become faster, simpler, and user-friendly, yet secured with time. Quick commerce is now BoAt's third largest channel for sales.
Companies like fintech major Razorpay ― in the realm of online payments - have been working with D2C brands.
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