The Indian ayurvedic products market reached a value of Rs 515.5 billion in 2021, according to IMARC Group. Looking forward, the group expects the market to reach Rs 1,536.9 billion by 2027, exhibiting a CAGR of 19.78 percent. Covid shifted the focus of people to more natural stuff and ways to increase their immunity. It led to a global movement that is inexorable and Kerala Ayurveda is at the front of it.
Senthil Kari, Vice President, Kerala Ayurveda India said, “We hold a 40 percent market share in the traditional Ayurveda category. We are an omnichannel brand and have always been traditional, bringing people closer to the years-old classical Ayurveda products and services. We have kept our recipes as original as in the Ayurveda Scriptures written 5,000 years ago.”
Foraying into D2C Business
Kerala Ayurveda’s D2C Business was launched in April 2019. It launched on Amazon, Flipkart, 1MG, NetMeds, Pharmeasy in the very same year, 2019. Besides, Kerala Ayurveda is also present on platforms like Big Basket, PayTM Mall, and Jio Mart. In 2020, the brand also entered into a tie-up with Cloudtail providing its products to wellness seekers in 1-2 days across India.
Kerala Ayurveda started an online business with the thought of making its offerings/ medicines available to the community who were unable to visit its clinic/ pharmacy every time. It realised that people are willing to learn and switch to a natural, chemical-free lifestyle given a chance.
“Our D2C business has achieved more than 100 percent growth on revenue yearly 3 times in a row. We have served over a million customers online and added about 40k new customers every month. Our repeat rate is nearly 50 percent,” Kari stated.
The brand offers around 300 products in categories like skin and hair, general health and immunity, respiratory health and allergy, digestive health, children's health, women's health, joint health, etc. Recently, the brand has launched a few over the counter products like Kumkumadi beauty oil, Swarnamukhi Ayurveda face cream, etc. for the modern age.
Kerala Ayurveda is planning to launch new and easy to carry dosage forms like Ayurveda shots, latte, sprinkles, etc. for the millennials this year. “While we are prepared to bring five new categories eventually, the first one making its way to the market is effervescent tablets in 4 flavours - Turmeric, Triphala, Amla and Ashwagandha. This is a pack of 10, one just has to dissolve a tablet in water and get the benefit of Ayurveda super herbs,” he asserted.
Digital Transformation Journey
Kerala Ayurveda’s entire operations work on a real-time app-based solution integrated with advanced Artificial Business Intelligence. It helps it to seamlessly manage its inventory and order fulfilment with real-time reporting.
“We also have tie-ups with start-ups like OneDirect, Pickrr, etc. that offer new customised offerings to guide our day to day logistic operations and delivery growth,” Kari further said.
Developing Global Business
The brand is currently present in the US, having established academies, wellness centres and wellness products. Its offerings in the US are certified by the California standard of quality. The US market contributes 20 percent of its total business.
Kerala Ayurveda plans to expand in the UK market soon followed by Germany and Switzerland in Europe. It is also considering South East Asian countries such as Singapore and Malaysia for expansion.
“We recently did a global partnership with eBay, which will take us into 130 countries now,” Kari added.
Kerala Ayurveda aims to grow by 100 percent in FY 22-23. The brand intends to increase its business from Rs 2.5 crore monthly to Rs 5 crore. It further targets to close 2022-23 with Rs 60 crore for D2C.
The brand is working towards building a community; its own Kerala Ayurveda community. It believes that the inception of the idea of wellness lies in education. Kerala Ayurveda also has numerous guides/blogs on its website with the sole purpose of informing people about Ayurveda concepts.
“We want to connect Ayurveda counsellors and practitioners directly with the common man, educate them and help them build a new way of life. In our quest of reaching the maximum wellness seekers, we have extensive collaboration with Neil Patel Digital, a well-known name in the digital marketing industry. We pray for a cleaner and more efficient medical system in the country,” Kari concluded.