Nykaa, which I’m sure you already know about, is a beauty and wellness website that sells various branded products catering to categories like skincare, fragrances, makeup, hair care, and even luxury products for both – men and women. What differentiate Nykaa from other similar e-commerce sellers are their efforts to help Indian women make the right beauty choices by offering some of the best services, tools, products, beauty advices etc.
The portal claims to offer more than 20,000 products from around 300 brands in the wellness and beauty category. They display a huge collection of cent per cent original products and makes quick deliveries across India.
Nykaa.com was founded in 2012 by an optimistic investment banker, Falguni Nayar and her husband, Sanjay Nayar, who invested a whopping $2 million in the idea. Today, it has successfully established a strong position in the online beauty market with partnerships with courier companies that helps them offer services across above 900 cities. A number of portals and reports list Nykaa among the Top 10 websites for the best beauty and wellness buys.
What bought Nykaa to where it is today?
The answer to that question is their smart social media strategies and the active customer engagement online. They primarily focused on CONTENT by choosing three kinds of well-defined customer segments from the market:
- Those who are short on time and would love to shop ‘online’
- Those who are beauty experts and know what to buy
- Those who are makeup newbies and don’t know what to look for
All the three categories are looked after well by Nykaa and this is clearly visible in their promotions and web advertisements. They also impart a lot of education on their website via “Beauty Book,” their in-house e-magazine.
- YouTube Channel
The Portal runs a YouTube channel by the name, Nykaa TV, which has a number of reviews, how-to videos and other knowledge imparting content.
- Discount Coupons and Offers
They offer several discount coupons and promotional deals to its customers along with additional benefits at the time of festivals or special occasions. They also do product launches on their website.
- Social Media Platforms
Nykaa makes use of the vast social media network to effectively generate leads and shoot out offers and convert them into sales.
- Nykaa experts
Along with posting content on the brand’s product pages, they have an interactive platform, Nykaa Decodes set up, wherein expert answer user queries and publish articles with their professional views.
- Nykaa’s retail shop
After having reached the social high, Nykaa launched its first offline store at IGI Airport in New Delhi.
Results Achieved and the current value
The company has witnessed great momentum in terms of revenue, in a very short span of time. Their very active digital media status has really helped and showed great results.
Currently, the Nykaa Facebook page has above 4 LAKH FANS and the Twitter account has more than 4,500 FOLLOWERS.
Furthermore, Nykaa’s YouTube channel has gained around 3k SUBSCRIBERS, Pinterest has 386 FOLLOWERS and Instagram has 16.9k FOLLOWERS. Apart from this, the Nykaa.com website sees around 50k UNIQUE VISITORS per month, 80% of them being women.
The company also partnered with Femina recently and launched the ‘Nykaa Femina Beauty Awards’ which will be an annual award show for beauty products manufacturers.
What do we know, what did we learn?
Nykaa’s approach to defining its target customer categories helped them to dedicatedly cater to the needs of those customers in an effective manner. This also helped them leverage their online presence a little better and the online recognition further aided the success of their retail store. By providing content through experts online, Nykaa ensured that its audiences have received valuable content that solved their problems, which in turn lead to Nykaa building a strong user base.
Nykaa seems open to new growth avenues and apply a thoughtful integrated approach that has helped it grow revenues and sales.