In tier 2 and tier 3 cities like Faridabad, Ludhiana, and Chandigarh, the average order values of the organization are increasing. Nykaa, an Indian store based in Mumbai, just released its Nykaa Trends Report for 2024.
The report provides insight into how customers’ shopping habits are changing across the country, highlighting trends including the rise in late-night purchases, the rising demand for Korean cosmetics, and significant shifts in fashion preferences over the past 12 months. Nykaa has always been dedicated to delivering beauty to India, including smaller villages and communities as well as the nation’s main metropolis, according to Nayar. According to him, they opened more than 50 stores distributed throughout 36 cities, including Agartala and Siliguri, for a total of almost 220 stores.
Discussing quick commerce, Nayar said their business-to-business (eB2B) platform distributes 150 brands to 250,000 shops across more than 1,000 cities. Over 35 million people use the Nykaa app each month, and over 30 million of those consumers make purchases. He emphasized the value of speed in Nykaa’s operations and stated that the company wants to service the whole market rather than just target particular prospects.
According to Nayar, 70% of orders placed in the top 110 cities are delivered the same day. He emphasized the value of speed in Nykaa’s operations and stated that the company wants to service the whole market rather than just target particular prospects. According to Nayar, 70% of orders placed in the top 110 cities are delivered the same day.
Rapid commerce platforms, like Nykaa, enhance their assortment of cosmetics and personal care items while facilitating faster delivery, according to Bank of America disclosures. The clothing sector is projected to grow more slowly, though, and Nykaa might struggle to balance growth and profitability, particularly in light of Shein’s intensifying competition.
The fashion, health, and beauty products offered by Nykaa, which was developed by FSN E-Commerce Ventures Ltd., are available on its website, mobile app, and growing network of physical stores.
