India’s Ayurvedic market has long been growing rapidly over the years, and this has particularly accelerated over the last few years aided by the pandemic owing to the demand for the health-conscious products. This has created a boom in the Ayurvedic sector, particularly in the skincare segment where the competition has increased manifold. Kama Ayurveda, Forest Essentials, The Ayurveda Co., Soul Tree, Just Herbs, The Tribe Concepts, Juicy Chemistry, and Ohria Ayurveda are some of the most popular brands in the ecosystem.
Despite the competition, the Tribe Concepts, which currently relies on D2C and e-commerce marketplace business models, stands out in the market, particularly in terms of the revenue the company has been clocking year-on-year basis despite being a fairly new brand. The company strongly relies on its consumer-centric approach and influencer marketing to thrive in the market.
“The growth has been very aggressive right from the start. In our very first year of operations we clocked in a revenue stream around Rs 2.25 crore and now in our third year running - we are looking at closing a turnover of Rs 50 crore - reaching almost five lakh customers, across the globe,” said Amritha Gaddam, Founder & CEO, The Tribe Concepts.
Given the Ayurvedic market is strongly consumer dependent, the brand understands the need to constantly check with what its consumers are demanding. Gaddam shared, “For example ‘kumkumadi thailam’ originally is made up of ghee or cow’s milk but today our consumers want products that are vegan and free of any dairy as it triggers skin issues - so we went ahead and made a kumkumadi thailam that is dairy free.”
“All our products have been ideated, curated, designed and packaged keeping in mind today’s consumers and their preferences,” she added.
Also, The Tribe Concepts strongly believes in bringing “highly performing Indian (Ayurvedic) ingredients” to the market. Indeed, long it was a common understanding that India with massive forest coverage, rivers beds is full of those ingredients that have been the source of cure for centuries, before modern medicine was developed.
On the quality and design of the products, she said, “Our products smell very earthy and you get that whiff of raw organic ingredients like sandalwood, turmeric which transports you to simpler times. These ingredients are sourced from forests across the country and only the purest and the most authentic version of them makes it to our cans and bottles. We are also vegan-friendly and in line with our commitment to creating a sustainable range, we have always kept our target audience in mind who can use these products easily without any fuss while they are on the go.”
Founded in 2019, The Tribe Concepts like many other new-age Ayurvedic brands is built out of necessity. Gaddam was tired of chemical-based products from overseas or resorting to synthesized quick fix solutions that did more harm than good. Simultaneously, she was also panic calling her mother often for Ayurveda inspired solutions to aid her damaged hair and skin. As Ayurveda came to her rescue and became a reliable friend, two and half years back in 2019, she decided to share the knowledge and kick-started the journey of The Tribe Concepts.
For such a competitive market, it is imperative for a brand to do a lot of testing and research, particularly if it is a new brand, to decide on which strategies work best over others. For a new-age brand like Tribe Concept, the brand has a mix marketing strategy with a strong reliance on influencer marketing.
Gaddam, on finding the right marketing style, said, “Just like any other home-grown brand which is in a growth stage - we have tried various marketing strategies right from influencer marketing to social media campaigns etc. We are also aware that marketing is very dynamic - a strategy that may have worked last month - may not yield similar results this month or the month after. One has to constantly spend a lot of time researching trends and ideas on how to connect better with consumers.”
“Having said that, influencer marketing has definitely worked out very well for us. At The Tribe Concepts, we do a complete deep dive into which influencer - best represents our brand and that has really worked for us. But I have to say - nothing beats word of mouth. I strongly feel that a happy satisfied customer is a great asset and has the ability to reflect in the cornerstones of every business,” she further stated.
Future Is Omnichannel
Many experts believe that going Omnichannel is the natural progression of every D2C brand since it providers a greater visibility to the brand and more options for a consumer.
Along the lines, she said, “We are getting ready to launch our products in the offline space. While we have a solid presence online - we understand that a brick-and-mortar presence will make a lot of difference. We will be available in various clean beauty stores - pan India and apart from that we are also in the process of launching The Tribe Concepts - Experience Stores which will allow our customers to experience the product, interact with our team, build a connection much before they shopped with us.”
Besides the offline plans, the company is planning to launch its sister brand, The Tribe Veda catering to the health segment where it will bring health mixes and herbal teas. Though currently bootstrapped, the brand is looking to raise funds that will help it to amplify their plans and establish presence as a marquee in the online as well as offline space.