WTF is E-commerce: Kishore Biyani, Udaan & Meesho Founders Reveal What Sells and What Doesn’t
In this episode, Kishore Biyani, Vidit Aatrey, and Sujeet Kumar, three pioneers in the Indian e-commerce and retail industry, share their insights on the art of selling, the factors that influence product success, and the future of e-commerce in India.
The Shift in the Garment Industry
The garment industry has undergone a significant shift from tailor-made to ready-made clothing.
This shift has opened up new opportunities and challenges for businesses in the industry.
The Impact of Scarcity
Growing up in an era of scarcity can instill a strong work ethic and expand one’s mind.
This experience can make individuals work harder and strive for success.
The Future of E-commerce
The future of e-commerce lies in understanding and adapting to changing customer behaviors and preferences.
Companies need to leverage digital platforms and social media to reach and engage with their customers effectively.
We realized that e-commerce was coming up and everyone was talking about hey why how all of this is moving online but e-commerce at that point time was mostly smartphones and white goods selling online right like which was not India retail to some extent small businesses were a very core part of India retail was still primarily offline and 85 percent of India retail happens via a lot of these long tail and branded small businesses so we said we’ll bring them online. – Vidit Aatrey
The Role of Early Career Challenges
Early career challenges, such as language barriers and managing people, can shape an individual’s approach to business and leadership.
These experiences can provide valuable lessons and insights that can be applied in future endeavors.
The Growth of E-commerce in India
E-commerce is growing rapidly in India, but a significant portion of retail still happens offline, particularly among small businesses.
This presents opportunities for companies to bring these businesses online and tap into a largely untapped market.
The Importance of Understanding Customer Needs
Understanding customer needs and preferences is crucial for success in both online and offline retail.
Successful selling requires a deep understanding of what customers want and how they want to buy it.
I believe that today my children are born in abundance and to more democratic parents. I was not born to democratic parents and we were born in a shortage era so I think shortages or less availability does definitely makes you work harder and make you expand your mind and thoughts. – Kishore Biyani
The Role of Insecurity in Success
Insecurity, particularly about financial stability, can be a powerful motivator for success.
Individuals from middle-class backgrounds may feel more insecure, which could potentially drive them to overcompensate in their careers.
The Journey of Founders
The founders share their unique journeys, from their humble beginnings to becoming leaders in the e-commerce industry.
They discuss the challenges they faced, the lessons they learned, and how their experiences shaped their approach to business and entrepreneurship.