The market behavior of the ayurvedic industry has seen a remarkable change in the previous years, specifically after Covid. We all are witnessing the rising popularity of natural medicine and ayurvedic products because people are now more cautious about their health and have become more aware and open to preventive medicines, and Ayurveda is all about that.
These significant shifts in market behavior are observed in India and internationally. People have become more aware of the ayurvedic skincare industry. The Indian ayurvedic products market reached a value of Rs 515.5 billion in 2021, according to IMARC Group. Looking forward, it expects the market to reach Rs 1,536.9 billion by 2027, exhibiting a CAGR of 19.78 percent during 2022-2027.
This wideness of the market has allowed consumers to explore new brands, and that’s when an Ayurveda-inspired natural skincare brand Nourish Mantra was launched in India in 2020 to make a mark in this market.
“I wanted to build a brand where beauty wasn't only recognized as a source of happiness, but happiness was the source of beauty. Now, I think my aim in building this brand was pretty clear and depicted through the brand's range of products. All the products are made of natural ingredients that are always special, alluring, and unique, and offer holistic wellness. The brand has achieved much in the limited period. We launched Cosmic Sutra Oil, Advanced Hair Growth Serum, and Vedic Elixir Face Oil which were massive hits. Our customers showed immense love and appreciated what we made. Their valuable reviews are our biggest motivation to do better and offer formulations and the best of services,” Ritika Jayaswal, CEO and Founder of Nourish Mantra said.
Building Brand Presence
The brand has been able to build a strong online presence in the past couple of years. It sells from its website and partner sites like Amazon, Nykaa, Myntra, Flipkart, Purplle amongst others.
Its D2C strategy is focused on what customers want & what their experience is after using its products. “We can measure our success with the valuable & loyal customer base we have earned. We believe in formulating problem-solving products. We are also tapping on delivery rates as COD options increase undelivered orders. Our customer service team regularly calls the customers & sends them WhatsApp notifications regarding their order status; through this, we are able to maintain a good delivery rate,” she stated.
“We also focus on our customer reviews & user-generated content. It is a very known fact that word of mouth works excellently in the industry & the people who have experienced the products themselves vouch for it. That is the best D2C strategy to have,” Jayaswal asserted.
Nourish Mantra has been working towards an offline expansion this year and has managed to launch with a few spas, salons, and multi-brand retail outlets.
“We will be working on this strategy for the current and next year,” she added.
The brand is currently targeting the Indian and USA markets. Its focus is on the metro cities, Tier I and II cities.
The brand offers about 30 SKUs spread across 3 categories of Skin, Hair, and Wellness. Its top-performing products are hair care products especially its Advanced Hair Growth Serum and the Cosmic Sutra Hair Oil. It has received tremendous response for its customers globally as these products are clinically backed and the users have seen results so they keep coming back to the brand for it.
Nourish Mantra is working on expanding its hair care and wellness range this year and will soon be launching Health Gummies for Skin and Hair.
“In this highly competitive market, our USP of a blended approach sets us apart from others. We blend ancient Indian wisdom with modern science, which allows us to bring the targeted results of science-backed ingredients & holistic benefits of age-old and tried-tested ingredients. So this way, our users don’t have to choose between the two and get the best of both worlds,” Ritika explained.
The brand is following different marketing strategies. Firstly, it is running digital ads over various social media platforms. Secondly, it is also actively participating in physical pop-ups so that new audiences can come, see, feel and touch the products.
Additionally, Nourish Mantra is also doing heavy sampling as the idea behind this is that once the user experiences its product, they will turn into a customer. Lastly, it is trying to do brand collaborations as it helps the brand reach new audiences.
Going forward, the brand is planning to invest more in influencer collaborations as it has the avenue to put any brand in front of many people.
“There is no brainer that the Indian market is growing and also becoming more and more competitive. More extensive investments put the brand ahead of many others in the industry, but investing smartly is a better approach. Hence, the influencer channel is one of the best platforms where the brand’s USP, its correct usage, and benefits can be explained in detail,” she noted.
Nourish Mantra saw growth of 2.6X from the first year to the second year. This year, it has momentum going and is expecting good results with some new launches that are in the pipeline.
The brand is currently bootstrapped and hasn’t raised funds from outside. It will raise funds from outside when the time is suitable for the brand and ready to ignite speedy growth with an influx of funds.
For future expansion, it is looking for both its assortment and channels. The brand is planning to strengthen its product offerings with new launches to its existing customers, so they don't have to go elsewhere.
“We are expanding through both online and offline channels. With the help of offline partners, we are making our products available to people who didn't find us online,” Jayaswal concluded.