The COVID-19 pandemic and the subsequent closure of physical stores have fundamentally changed the way businesses operate. With consumers across the globe turning to online shopping, an increasing number of brands are taking the direct-to-consumer (D2C) route to create a distinctive customer experience.
In India, the D2C explosion started well before the crisis made an impact, but the pandemic has undeniably opened a goldmine of opportunities for businesses looking to strengthen their digital presence and remove the middleman to sell their products directly to consumers.
Considering supply chain forms the backbone of any successful e-commerce business, it then becomes imperative for D2C brands to streamline their supply chain processes to optimize their shipping costs, reduce RTO and maximize business growth.
That said, let us take a look at how companies can better manage their supply chains by leveraging modern technologies such as AI, data analytics, and cloud computing.
Cloud-based Inventory Management
Unlike their larger counterparts, SMBs in the D2C space lack the financial means to build a dedicated warehouse or a storage facility. As cloud-based inventory management solutions eliminate the need for investing in a physical warehousing space or expensive WMS solutions, D2C brands can manage and track their inventory online from a single platform. Migrating to a cloud-based investor will not only allow them to lower their inventory costs but also improve order accuracy by eliminating the chances of errors during stock pickup and delivery.
Data-driven Insights with AI
D2C brands must harness the power of AI to gain access to data-driven insights into their orders. Artificial intelligence can take into numerous parameters like maximum NDR conversion, allocation based on product characteristics, destination characteristics, the channel used to place an order, etc. to facilitate faster delivery and higher customer satisfaction. In addition to giving the fastest and cheapest recommendations as per specific requirements, AI-led tools also help D2C sellers to weed out fake buyers, thereby reducing RTO orders and eliminating unnecessary logistics costs.
Forecasting Customer Demand
AI’s ability to analyze huge volumes of data makes it a game-changer when it comes to predicting customer demand across geographies and product categories. Based on the forecast made by AI, D2C brands can restock their inventories when and as required, lower their RTO and minimize waste in their supply chain. Additionally, they can make quicker and smarter business decisions that will help them drive long-term, sustainable growth in the e-commerce space.
Technology has allowed for greater supply chain visibility by offering real-time updates to D2C businesses. As delivery convenience remains the top priority, brands should incorporate technology-based solutions into their supply chain network to track, monitor, and manage their orders in real-time. This will help bring greater transparency to the ecosystem and enable D2C companies to streamline their order-to-delivery process. Moreover, real-time updates ensure timely delivery of products as sellers take proactive measures in case of anomalies.
According to a recent report, India’s D2C market is estimated to reach a whopping $100 billion by 2025. While it presents a huge opportunity, many D2C brands struggle to navigate the complex world of e-commerce as they are faced with multiple roadblocks. Among others, creating a robust supply chain network that ensures seamless procurement and delivery of products remains a key challenge for D2C companies, especially MSMEs which do not have access to the same resources or the technological expertise as large e-commerce giants. This is where third-party logistics solution providers step in by providing end-to-end guidance and technical assistance to D2C brands.
With their tech-based, integrated approach, e-commerce logistics and shipping aggregators allow sellers to access best-in-class logistics services which include a multi-functional dashboard, multiple pick-up locations facilities, inventory management, billing, and weight reconciliation, merchant logs, and NDR management to increase their logistics efficiency and help cater to their customers in a more cost-effective and timely manner. This will further unlock new growth opportunities for businesses and set them apart from the overcrowded D2C space.
In an era where sustainability and innovation are becoming paramount in every industry, URturms stands out as a beacon of change in the fashion world. Founded by Surender Singh Rajpurohit, this apparel brand is on a mission to cater to eco-conscious individuals who refuse to compromise on style or sustainability. With a vision that blends cutting-edge technology and eco-friendly practices, URturms has redefined the narrative surrounding fashion, proving that style and sustainability can coexist harmoniously.
Surender Singh Rajpurohit's journey to becoming the owner of URturms is as inspiring as the brand itself. With a background entrenched in the automotive industry, Surender's foray into the world of sustainable fashion began when he became a customer of URturms in 2018. Recognizing the brand's potential to make a significant impact, he made the bold decision to acquire URturms in 2022, infusing it with fresh perspectives and a commitment to excellence.
Innovative Technology Meets Fashion
At the heart of URturms lies its innovative approach to clothing, leveraging advanced hydrophobic technology to create garments that are not only stylish but also practical and durable. From their signature 30-day no-wash denim jeans to AC cool tech shirts and 7-day no-smell socks, URturms' product line embodies the perfect synergy between fashion and technology. By integrating these cutting-edge technologies into their designs, URturms is revolutionizing the way we perceive and interact with our clothing.
"Innovation and sustainability are not just buzzwords; they're the driving forces behind meaningful change in the fashion industry," states Surender Singh Rajpurohit
Optimization and Restructuring
Before URturms made its debut on Shark Tank India, Surender embarked on a mission to streamline the brand's operations and optimize its resources for maximum efficiency. With a keen eye for business operations, Surender reduced the number of SKUs, optimized packaging costs, and trimmed the team from 60 to 9 people. These strategic decisions not only helped improve the brand's bottom line but also positioned URturms for exponential growth and success in the future.
Shark Tank India: A Platform for Success
When Surender stepped into the den of investors on Shark Tank India, he presented a compelling case for URturms, seeking Rs 1.2 Crore for a 2 percent equity stake, valuing the company at Rs 60 Crore. Despite facing tough negotiations and intense scrutiny from the sharks, Surender remained steadfast in his vision for the brand, showcasing its impressive growth trajectory and solid unit economics. His passion and determination caught the attention of the sharks, ultimately leading to a lucrative deal for URturms.
Sealing the Deal
After a series of intense negotiations, URturms secured a deal with Azhar Iqubal, who offered Rs 1.2 Crore for a 4 percent equity stake in the company. This landmark moment not only validated URturms' potential but also provided the brand with the necessary resources and expertise to propel it to new heights of success. With Azhar Iqubal's backing and the exposure from Shark Tank India, URturms' net worth soared to Rs 30 Crore post-deal, solidifying its position as a trailblazer in the fashion industry.
Continuing the Journey
Even after its momentous success on Shark Tank India, URturms remains committed to its core values of sustainability, innovation, and style. With a renewed sense of purpose and determination, URturms is poised to continue pushing the boundaries of fashion while staying true to its eco-friendly ethos. As the brand continues to grow and evolve, it serves as an inspiration for both consumers and aspiring entrepreneurs, proving that sustainability and style can go hand in hand.
URturms' journey from eco-conscious ideals to Shark Tank triumph is a testament to the power of innovation, determination, and sustainability in reshaping the fashion industry. As the brand continues to make waves with its groundbreaking designs and eco-friendly practices, it remains a shining example of how fashion can be both stylish and sustainable. With URturms leading the charge, the future of fashion looks brighter than ever before.
Copyright © 2009 - 2024 Franchise India Holdings Ltd