TATA CLiQ By: Wasim Rahman, IIT Bombay Objective -

Transcript:TATA CLiQ By: Wasim Rahman, IIT Bombay Objective -:
TATA CLiQ By: Wasim Rahman, IIT Bombay Objective - Tata CLiQ stepping into the Beauty Category METHODOLOGY ADOPTED Competition Analysis Competitor growth analysis Key Differentiating factors for Tata CLiQ Secondary Research to identify pain points of Indian Population Industry Analysis to identify booming products & competitors Data Collection & Analysis Identify Ideal Customers Segmentation to identify Target customers Identify unique user trends of selected customers Proposed Solution Category/Brand Assortment Plan Product/Service Differentiation Financials Business Model Canvas: Value Proposition & Channel Product & Service Concept Check the validity of the Idea Men Women 55 Mins per day spent on grooming Indian women are concerned about their appearance 75% Go-to-market strategy 50+ Female 18-45 age TARGET GROUP Age : 18 – 45 (Millennials & Gen Z) Gender : Male and Female Lifestyle : Urban or Semi Urban Mindset : Fashion & Brand Conscious (branded, premium, natural products) Income : Middle and upper middle class SEGMENTATION (Resource vs Motivation) UNIQUE USER TRENDS AND KEY DIFFERENTIATING FACTORS (linked to Brand Assortment plan) COMPETITOR GROWTH ANALYSIS Premiumisation has been driving the demand for beauty and personal care products. Premium beauty products come largely in partnership with a luxury or premium brand. Eg- lipstick launched by L’Oreal in collaboration with Indian couture designer Sabyasachi. Companies like Freshistry and Emcee Beauties produce customised products taking the needs of their customers into consideration BUSINESS MODEL CANVAS FOR TATA CLiQ BEAUTY CATEGORY WHY OMNICHANNEL? Differentiating Factor Tata CliQ is a Phygital store. It already has Online and Offline systems seamlessly integrated with each other. It allows Cross-Category Selling As Consumer Experience is our top priority, Omnichannel will offer more trust than other models as the people will also have an option to physically test the product offline Better Consumer Convenience With Omnichannel, people can choose from: Ship to Home or Pickup at store Cost of Change Tata Cliq is already operating as an Omnichannel. Switching to a different channel will further add costs & complexities Increased % of Perfect Orders It reduces the number of return requests by almost 70% because of option of product trial, select brands & brand authorized sellers. Increased footfall in Offline stores When the Covid situation subsides, more people will visit stores for physical trials, thus revenue will increase both online & offline More Data Collection Greater amount of Customer Data can be collected (offline & online) for personalised offers and product recommendations LONG