Nykaa ERetail Private Limited Enduring COVID19 and Preparing for the Future Nirankush Dutta Neha Sharma 2023
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Nykaa, India’s largest beauty e-commerce company, in December 2020, announced that the pandemic has caused a 60-70% slump in its sales. Covid-19 has led to a loss of 150 crore (Rs 150 billion) in revenues, and the pandemic has made it clear that consumer behavior has changed beyond recognition. To cope with the crisis, Nykaa took three actions: 1. Increase E-commerce sales: With
PESTEL Analysis
Nykaa ERetail Private Limited, India’s leading e-commerce firm, has experienced significant challenges in the COVID-19 era, with the pandemic changing the landscape of the fashion industry, altering consumer behaviour and the way products are consumed, bought, and sold. Amidst these changes, Nykaa has embarked on an ambitious growth strategy that aims to drive long-term value for its investors. The company has emerged as the leader in the Indian e-commerce market, and it has gained a significant
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1. Nykaa is an India-based e-commerce company that sells beauty products through its online platform. In early 2020, the COVID-19 pandemic triggered unprecedented disruptions in various industries worldwide. It forced global retailers to implement various strategies to mitigate risks and losses. 2. Nykaa faced several challenges during the pandemic, including increased supply chain complexity, limited cash reserves, increased competition from e-commerce giants, and shifting consumer behaviour. go to website However,
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Nykaa ERetail Private Limited is a retail brand that aims to revolutionize the beauty industry with their innovative products, user-friendly shopping experiences, and unique delivery options. The company operates in India, with over 1,350 stores across the country. Despite facing severe financial challenges due to the COVID-19 pandemic, the company has managed to remain a steady performer in the market. In this essay, I will explore the challenges and opportunities faced by Nykaa ERetail Private Limited during the COVID
Porters Model Analysis
Nykaa’s growth trajectory has been quite impressive over the past years, driven by a combination of its strategic initiatives, talent management, and its ability to identify customer need. the original source While this growth trajectory has been fueled by a few key pillars of the company, I would argue that the biggest strength and opportunity of Nykaa lies in its digital strengths. The Covid-19 pandemic has accelerated the company’s digital capabilities, giving it an advantage in today’s landscape. The pandemic has shifted the way consumers
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“Enduring COVID19 and Preparing for the Future” For the past 6 years, we have been operating in the ecommerce space with one aim: to provide the best of both the worlds, fashion and health, online. Since 2015, the company has witnessed an unprecedented growth spurt as we have been growing at 200% CAGR in revenue for three years. We have consistently sold the top 2,500 products on our platform and today, we are the world’s