A recent survey forecast says that India Ayurvedic product market will register a CAGR of 16% by 2016-2021. Ayurvedic nutraceuticals and dietary supplements as well as Ayurvedic cosmetics and skin care products are likely to boost the market over the next five years. With rising health concerns, consumer preference for Ayurvedic products in the country is only increasing. And with the advent of technology, the reach will only widespread says Sri Sri Tattva MD, Arvind Varchaswi in a conversation with Indian Retailer
Tell us how Ayurveda has reinvented itself and how the demand for Ayurveda products is on the rise.
With technology, information only reaches much faster and now the level of education and exposure about natural products is on the rise. As the exposure is much vast, the benefits of Ayurveda are also understood. We have realised that Ayurveda has answers to problems which allopathy may not have. With quality Ayurveda products available everywhere, the demand is only steadily growing.
You mentioned technology, but how do you plan to take Sri Sri products to places where technology has still not penetrated?
People in tier II and tier III cities also have mobile phones these days and they are also aware of the benefits of using natural products. Most importantly, using a special programme called ‘Farmer Connect’, we help farmers with sustainable farming methods, what to grow and how to grow and help them reach the consumers.
Now that Sri Sri Tattva has ventured into FMCG sector, how do you plan to expand?
We will launch 1,000 franchise exclusive stores in three formats - which will be Sri Sri Wellness Place, Sri Sri Tattva Mart and Sri Sri Tattva Home and Health. We have also launched Shankara, a high end cosmetic range.
Tell us about the Wellness Place?
This format store is more on the lines of an experience store and will have an in-house lifestyle consultant, a doctor and our medicines. People who walk into the wellness place can avail the benefits of the complete experience.
What are your fiscal targets?
Our focus is value growth and for us, it means customer satisfaction. We are already present in 33 countries and are working towards being present in 70 countries. We are very much on track and will soon be present in 70 countries.