INMID-AUGUST, a D2C spices brand, Zoff, based out of Raipur, Chhattisgarh, announced it had secured Rs 40 crore from JM Financial Private Equity through the.JM Financial India Growth Fund III. The investment will support the launch of new products and the expansion into new categories, including ready-to-cook items, condiments, cooking pastes and seasoning kits.
Established in 2018, the companynowplans to improve its offline distribution network by leveraging general trade, modern trade channels and other retail outlets, having done well so far in Tier-1 cities, supported by ecommerce and later quick commerce led sales since 2020. "Whatever we are today, it is because of e-commerce and quick commerce," Akash Agrawal, Co-founder at Zoff, tells BW Businessworld.
According to a recent report by the Pahle India Foundation, over two-thirds of online vendors saw an increase in both their sales value and profits over the past year, with 58 per cent seeing growth in both areas. Excluding costs, vendors have seen positive improvements in nearly all aspects of their business since they began selling online. Around 60 per cent of vendors feel they now have better market access and have observed higher purchase values per customer. Also, 56 per cent of vendors have improved their sourcing and distribution methods, while 59 per cent have improved their product design, pointing to the positive impact of e-commerce on their operational efficiency.
It is now a well-established fact that if you are a D2C brand, you cannot ignore the power of e-commerce if you want to grow.
Brands like boat, Bold Care, Happilo, iD Fresh Food, Plum and Noise, among many others, have grown to prominence through the power of e-commerce.
Not A Messiah?
Denne historien er fra September 07, 2024-utgaven av BW Businessworld.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra September 07, 2024-utgaven av BW Businessworld.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
MEMORIES & IMPRESSIONS
Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.
The Robotaxi Market
The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.
And the Nobel Prize Goes to AI
The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.
Ola Electrified
Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.
Sharp Slide in Industrial Output on Eve of Deepavali
India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.
Heralding the Solar Era with Sustainable Electrification
RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more
A WELL-GREASED MACHINE
The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh
Disruption Ahead: Beyond Organisation Charts and Structures
ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.