Major Project Report

On

MARKETING STRATEGIES OF NYKAA

Submitted In Partial Fulfilment of the requirement
Of
Bachelor of Business Administration

Submitted to: Submitted by: Tripti Arora

Ms. Shweta Ahuja Roll No.: 02735101721
(Assistant Professor), MERI BBA 2021-2024, Sec- D

MANAGEMENT EDUCATION AND RESEARCH INSTITUTE, JANAKPURI NEW DELHI

(Affiliated to Guru Gobind Singh Indraprastha University)

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 Declaration

I hereby declare that this Project Report titled “MARKETING STRATEGIES OF NYKAA” submitted

by me to Management Education and Research Institute is a bonafide work undertaken and has not

been submitted to any other University orInstitution for the award of any degree diploma/certificate or

published any time before.

(Signature of the Student)

Date:

2
 Bonafide Certificate

This is to certify that as per the best of my belief the project entitled “marketing strategy of Nykaa” is

the bonafide research work carried out by Tripti Arora 0273151721 students of BBA, MERI, Janakpuri

from Delhi in partial fulfillment of the requirements for the Degree of Bachelors of Business

Administration.

He / She has worked under my guidance.

Name: Ms. Shweta Ahuja

Research Project Guide

Date:

Countersigned by

Name

HOD / Director

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 Acknowledgment

I have been very fortunate to get the opportunity to work on the research project marketing strategy of

Nykaa. I hereby take this opportunity to express my profound gratitude to Guru Gobind Singh

Indraprastha University for allowing me to work on a valuable project. I would like to extend my deepest

regards and gratefulness to Ms. Preeti Verma ma’am my project guide who continuously guided me

through monitoring and constant encouragement throughout this study manual.

Signature of the student

Tripti Arora

0273151721

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 TABLE OF CONTENT

S.No Description Page No.

1) Declaration 2
2) Bonafide Certificate 3
3) Acknowledgment 4
4) Introduction 6-8
5) Objectives of the Research 9
6) Literature Review 10-12
7) Marketing Strategies of Nykaa 13-14
8) Research Methodology 15-16
9) Limitation of Study 17
10) Data Analysis and Interpretation 18
11) Questionnaire 19-31
12) Findings of the Study 32-33
13) Limitation of Nykaa 34
14) Suggestions 35
15) Conclusion 36
16) References 37

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 INTRODUCTION

Nykaa is an Indian beauty brand that sells makeup, skincare, and wellness products. The word Nykaa
is derived from the Sanskrit word ‘Nayaka’ that means “the one in the spotlight” and the brand is
indeed in the spotlight since when it started. As the title suggests, this article is about the marketing
strategy of Nykaa that stunned the nation

The brand sells over 1,30,000 products across 1500 brands that include various luxury beauty brands
along with their in-house brand Nykaa Beauty.

At present, the brand has over 5 million active monthly users. Moreover, Nykaa is leading the beauty
industry with such a huge customer base.

But what’s the reason behind the success story of Nykaa?

Well, the credit for this success goes to the omnichannel marketing strategy of Nykaa.

So let us read about the marketing strategy of Nykaa and understand how the brand stunned the nation
with its immense success in the beauty industry.

How Nykaa’s Journey Began?

The Indian e-commerce brand Nykaa was founded in 2012 by investment banker turned entrepreneur
Falguni Nayar. The idea of starting an e-commerce store struck after Nayar realized that there are no
stores in India that sell a variety of beauty products in stores even when there is a high demand for them.
Nayar also researched that countries like Japan, Europe, and France have such stores in abundance.

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She saw that there was a huge opportunity to invest in the online space. Like Amazon, Flipkart,
Shopclues, and many other eCommerce players were leading in the market. But Nykaa was the only one
to start as an eCommerce beauty and personal care store.

So, in 2012 Falguni Nayar, with her husband, Sanjay Nayar invested $2 million in the company and
launched the beauty brand Nykaa.

Initially, Nykaa was called ‘Indian Sephora’ which is a multinational personal care and beauty retailer.
The brand gained much popularity just after its launch. So that’s how Nayar created Nykaa and started
its journey by setting up an eCommerce platform.

Nykaa is revolutionizing the beauty industry with a wide range of products and making available the
world’s class luxury brands in India.

Problems faced in the early stages by Nykaa:

In the early stages, they faced problems in collaborating with big brands.

Reason-

The brands were not convinced with the idea of putting their exclusive products at the same place
where low-cost products are also available.

They felt that it can ruin their brand value.

Soon to be a billionaire company

During COVID-19, most businesses were wrecked. But, all the beauty shoppers had an option, and that
was Nykaa. Nykaa keeps on delivering products with discounts and offers. Nykaa generated revenue of
$247 million in march 2020, and it expects to report a 40% rise in its revenue for the year ending March
2021 thanks to its marketing efforts during the pandemic.Another milestone that
Nykaa is prepping itself for is an IPO this year, which’s expected to value around $3 billion.

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Furthermore, after Nykaa’s funding round, which is expected to end in March, it is suspected that its
Founder Falguni Nayar makes it into billionaire ranks. It will make her India’s second-richest self- made
woman.

All these achievements are the results of the hardcore marketing efforts of Nykaa that increased its brand
awareness.

So, that’s how Nykaa has become a one-stop platform of cosmetics for customers just like French
multinational retailer Sephora.

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 OBJECTIVES

Marketing strategies of Nykaa company

Objectives of the study:

1. To determine the strategies used by the Nykaa company to capture the target audience.

2. To analyze how it manages to target an audience in the beauty market.

3. To study the 360-degree marketing strategies made by the company.

4. To analyze Strategies that help in the utmost satisfaction of the product.

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 CHAPTER 3: REVIEW OF LITERATURE

Several researchers have carried out studiesin their effort to examine consumers online buying behavior.
For example, Bellman et al (1999) investigated various predictors for whether an individual will
purchase online. These authors concluded that demographic variables, such as income, education and
age, have a modest impact on the decision of whether to buy online, whereas the most important
determinant of online shoppingwas previous behavior, such as earlier online purchases. This is
consistent withForrester Research which proved that demographic factors do not have such a high
influence on technology as the consumers' attitudes do (Modahl, 2000). Steinfield and Whitten (1999)
suggested that the combination of the Internet, plus physical presence, provides more opportunities to
capture business than the online-only presence, because they can provide better pre-purchase and post-
sales services to lower consumer transaction cost and build trust in online stores. However, it is worth
mentioning that beliefs and attitudes that are found in the stage prior to the adoption of e-commerce
are different to those in the "post-adoption" stage

(Gefen et al. 2003: Venkatesh and Brown, 2001; Yu etal, 2005).

Concerning the factors that influence or hinder online shopping. Ernst and Young (2000) reported that
Internet userspurchased online because of good product selection, competitive prices, and ease of use,
but were concerned about shipping costs, lack of opportunity to prior examining the products, as well
as, the confidentiality of credit card and personal information. Know and Lee (2003) explored
consumers' concerns about payment security and its relationship to online shopping attitude and actual
purchases. They observed a negative relationship between attitude towards online shopping andconcerns
about online payment security. Consumers with a positive attitude seem to be less concerned about
payment security. Similarly, popular literature cited ease of shopping comparison, low prices, timely
delivery, convenience, time saving. low shipping costs, improved customer service.

Concerning the factors that influence or hinder online shopping, Ernst and Young (2000) reported that
Internet userspurchased online because of good product selection, competitive prices, and ease of use,

10
but were concerned about shipping costs lack of opportunity to prior examining the products, well as
the confidentiality of credit card and personal information. Know and Lee (2003) explored consumers
concerns about payment security and its relationship to online shopping attitude and actual purchases.
They observed a negative relationship between attitude towards online shopping and concerns about
online payment security. Consumers with a positive attitude seem to be less concerned about payment
security. Similarly, popular literature cited ease of shopping comparison, low prices, timely delivery,
convenience, time saving, low shipping costs, improved customer service. tax exempt status and speedy
e-mailresponse, as key reasons for the increase in online shopping (Lorek, 2003; Magee, 2003; Maloy,
2003; Retail Merchandiser, 2003).

HOT BARGAINS: TIPS TO FIGURE OUT TRAPS FROM THE REAL VALUE DEALS

SUSHMITA CHOUDHURY AGARWAL ET Bureau Apr 22, 2013 (The Economic Timex)

Bargain, hot deal, steal every day consumers are homhurded with hundreds of seemingly promising
offers. However, not every value buy saves money, some can be costly mistakes. Here's how to figure
out the trap from the real deal.

It's a great way to save on interest, particularly if you aren't keen on paying the high rate for revolving
credit with your existing card. However, he warned that such a teaser deal is typically temporary. If you
don't pay the outstanding amount within the offer period, you will be penalised with a higher interest
rate, possibly more than the one on your old credit card.

Straight cash discount instead of value-added promotion

The trouble with most value-added offers is that they come with caveats. It could be for a limited period,
or you may land discount vouchers coupons that don't appeal to you. What's not to like about saving
hard cash? The only drawhack is that you are unlikely to find such bargains at shopping malls. Hit
standalone, smaller shops instead.

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A gadget bought at a discount of 80% on a little-known website

It really should not come as a surprise that you are being ripped off. Online shopping promises discounts,
but if just one player offers rebates far more than its competitors, it should be a red flag. For instance,
the MRP on the HP Pavilion G6-2232TX laptop is nearly Rs 41,000, while Nykaa is offering it at Rs
38,342 and Laptopwale at Rs 38,100. So how can an unknown player offer it at just Rs 8,2007 Other
warning signs are an absence of credible contact information for the company. If the website is
legitimate, chances are you are being peddled a counterfeit item.

Registering on private sale websites

A gadget bought at a discount of 50% on a little-known website

It really should not conne as a surprise that you are being ripped off. Online shopping promises
discounts, but if just one player offers rebates far more than its competitors, it should be a red flag. For
instance, the MRP on the I1P Pavilion G6-2232TX laptop is nearly Rs 41.000, while Nykaa is offering
it at Rs 38,342 and Laptopwale at Rs 38,100. So how can an unknown player offer it at just Rs 8,2007
Other warning signs are an absence of credible contact information for the company. If the website is
legitimate, chances are you are being peddled a counterficit item

Registering on private sale websites

To begin with, registration is free, so even if you never get lucky, all you are wasting is time. The likes
of Jetsetter.com and Stiquesway.com hold short-term flash sales on unsold. inventory at luxury hotels
and cruises, where you could land discounts of 40-70%

Buying gold because the jeweller insists it's a good investment

Given the high making charges and issues with determining purity, make sure that you buy jewellery
solely for the love of bling. If investment is the agenda, you would be better off.

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 MARKETING STARTIGES OF NYKAA

❖ Strategies:

1) YouTube marketing

• The Nykaa marketing strategy comprises a comprehensive YouTube marketing plan. Nykaa
has a YouTube channel called “Nykaa TV” that provides individuals with video assistance for
utilizing cosmetics and fashion products and staying current in society.
• The firm does not sell its items on its YouTube channel; instead, it focuses on providing its target
audiences with consumable content such as beauty, personal care tips, makeup hacks, and much
more.
• Nykaa’s YouTube playlist has a wide range of content, including beauty horoscopes, bridal
makeup techniques, celebrity beauty secrets, and so on. They assist users and consumers in
selecting the right products and utilizing them correctly by providing a variety of how-to videos.
In addition, the firm uses YouTube ads to reach out to its customers.

2) Marketing through the website

• Abiding by the extensive Nykaa marketing strategy, the brand has gone to great lengths to
advertise, whether on its website or through its mobile application.
• Nykaa places great importance on brand positioning through the website, which means that new
and updated material is constantly available to the target audience.
• The business uses blogs, tutorials, and targeted ads on its main platform to increase online sales.
The website aims to make a difference in the beauty and fashion industries.
• Also, it has been focusing on bringing quality items and services to people at massively
discounted prices. The platform appears to have a lot of potential for future growth and
dominance.

3) SEO

• Nykaa uses search engine optimization (SEO) services to improve organic traffic and create
brand visibility.
• Keeping up with industry developments has also helped it stay ahead of the competition.

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• Nykaa has implemented SEO to improve its content with possible keywords that rank high in
search results.
• The beauty brand has also optimized its blogs and articles to be quickly indexed and searched
by Google.

4) Email marketing

• Nykaa has cleverly used email marketing to its full potential. As part of its promotional efforts,
the company sends out emails to highly engaged buyers, including trending content thatprovides
a glance at current industry trends.
• These emails also present an early look at any upcoming sales, urging consumers to visit the
online store. Their email marketing plan has performed exceptionally well, with high open rates,
engagement rates, and conversion rates. It has been achieving the overall Nykaa marketing
strategy goals.

5) Influencer marketing and building a network

• When compared to more traditional platforms, influencer marketing remains one of the most
effective and cost-efficient ways to communicate with customers, and is, hence, an essential
element of the Nykaa marketing strategy.
• Nykaa relies heavily on influencers and content creators to promote new brand

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 RESEARCH METHODOLOGY

"Research means different things to different people and the intention behind it are to investigate
innumerable data, theories, experiences, concepts and law. "The procedural framework within which
the research is conducted is the definition of research. methodology. The two broad and distinct
approaches to social research cover the Quantitative and Qualitative methods of enquiry

The quantitative paradigm on the other hand intends to gain a deeper understanding. knowledge and
insight into a particular situation or phenomenon, by providing answers to questions of "how?" rather
than 'what?". Unlike qualitative research which occurs in natural settings, quantitative research is where
hypotheses are established.

Data collection

The data required for understanding will be collected from various online customers. In order to conduct
the study digital survey was conducted through facebook and e-mail. And those responses are collected
in a spreadsheet and further analysis was done.

The data collection method in this particular research comprises of two forms: namely primary and
secondary data. One needs to be careful while using secondary data as maybe the collected data may
be hiased as the collector of that original data might have highlighted only a partial picture or another
aspect may be that data may be quite old and also the data quality could be unknown.

Primary data

"Data collected specifically for the research project undertaken" is the definition of primary research
as provided by Saunders et al (2013: pp. 486).

Primary data is generally originated by any researcher to address any specific problem or issue at
hand, where the only drawback is that it can be expensive and time-consuming. The various ways of
gathering primary data is through surveys, focus group and observations

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Secondary Data

A prerequisite to the collection of primary data is a zarefid scrutiny of the existing secondary data
(Malhoon, 2005). The Data that is collected from esisting journals, reports and statistics from private
and public institutions are called Secondary data. For this specific study the enflection of secondary data
was done primarily than marketing journals already availalle om this topic. Secondary data helps the
author the comprehend the perception of Indian consumers onfine shopping.

Thus the study curried out has analyzed the primary duts with the rationale and validation of the present
secundary data

Sample technique

Choosing a stady sample is an important step in any research project since it is rarely efficions, practical,
or ethical to shady whole populations. In this shady the sampling sinatugy ased is convenientsampling.
The sample size is 100. A small part of something intended as representative of the whole, sampling is
heing used. sabset of a population. In this rescarch simple random

Data collection

The data collection would be

1) PRIMARY DATA: Questionnaire

2) SECONDARY DATA : Journals, Immet, newspaper etc.

Sample design

Online customers of Delhi city are included onder this research and tell their satisfaction level.
Data source

Both Primary and Secondary source of data would be used. The major type of information is used
from primary data.

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 LIMITATIONS OF THE STUDY

• No research is complete without admitting the limitations that was faced while conducting
a study which will contribute to present learning. This study too like the others have certain
constrains which has been discussed below.

• The study was restricted to Delhi city only

• The study is mainly concentrated on Nykaa ...com

• The sample of the size will be limited to time and resources

• The information will be collected valid until there is no any technical change or any
innovation

• The result is assuming that respondents have given accurate information

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 DATA ANALYSIS AND INTERPRETATION

This chapter aims obtain the objective of the study by critically analysing the qualitative data through
thoroughly examining the interviewee's resposes and beliefs. This has been achieved through evaluating
the most relevant responses by the participants. The data has been analysed and discussed by comparing
the comments made by the respondents with the literature review keeping in mind the research objective
of the study. Thus, the rationale of this analysis is hased on the personal answers provided by the
respondents

An appropriately designed questionnaire was used to collect the primary data for the stidy. The data for
100 respondents was organized systematically in tables and graphs and then was subjectal to analysis
using appropriate statistical tools. The results of the analysis are presented in the following section in
order to assess the customer perception towards online shopping on Nykaa com in India.

Here for analysing, we are considering two factors. That is

1)Demographical factors

2)Behavioral factors

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QUESTIONNAIRE

1) Gender classification of the respondents.

Gender (table 1.1)

Cumulative

Frequency Percent Valid Percent Percent

Valid female 97 66.9 66.9 66.9

male 48 33.1 33.1 100.0

Total 145 100.0 100.0

Interpretation: It is seen from the above pie chart and the table 1.1, that the males constitute

33.10% andfemales constitute 66.90%. Here it is evident that the females play a major role.

According to 2020 data

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2) Age-wise classification of the respondents.

Figure 2.

Age (table 1.2)

Cumulative

Frequency Percent Valid Percent

Percent

Valid 15-20 5 3.4 3.4 3.4

20-25 112 77.2 77.2 80.7

25-30 21 14.5 14.5 95.2

30-40 4 2.8 2.8 97.9

40& above 3 2.1 2.1 100.0

Total 145 100.0 100.0

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Interpretation: From the above table 1.2, we can see that 77.2% of the respondents fall under the age

group of 20-25, 14.5% of the respondents fall under the age group of 25-30, 3.4% of the respondents

fall under the age group of 15-20, 2.8% & 2.1% under 30-40 and 40 & above respectively.

According to 2020 data

3) Classification of the respondents based on their purchase of beauty products.

Figure 3.

Purchase (table 1.3)

Cumulative

Percent
Frequency Percent Valid Percent

Valid yes 112 77.2 77.2 77.2

no 33 22.8 22.8 100.0

Total 145 100.0 100.0

Interpretation: From the above table 1.3, we can see that 77.2% of the respondents have said that they

buybeauty products online and 22.7% have said that they do not purchase cosmetic products online.

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According to 2020 data

Classification of the online platform selection of the 77.2% of respondent.

Platforms (table 1.4)

Cumulative

Percent
Frequency Percent Valid Percent

Valid did not opt 33 22.8 22.8 22.8

Nykaa 87 60.0 60.0 82.8

the body shop 7 4.8 4.8 87.6

Purple 7 4.8 4.8 92.4

lush 1 .7 .7 93.1

others 10 6.9 6.9 100.0

Total 145 100.0 100.0

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Interpretation: From table 1.4, it is seen that 60% of the respondents from 77.2% choose Nykaaas

their online shopping platform for buying beauty products which is a huge number. And the rest are

the 17.2% of respondents who choose other platforms over Nykaa.

According to 2021 data

4) Classification of types of customers of the 60% of respondents who chose Nykaa

as their platform.

FIGURE 5

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 Cumulative Type of customer
Percent
Frequency Percent Valid Percent (table 1.5)

Valid did not opt 58 40.0 40.0 40.0

potential customer 8 5.5 5.5 45.5

new customer 11 7.6 7.6 53.1

impulsive customer 27 18.6 18.6 71.7

discount customer 22 15.2 15.2 86.9

loyal customer 19 13.1 13.1 100.0

Total 145 100.0 100.0

Interpretation: From the above table 1.5, we can see that 18.62% of respondents are impulsive

customers, 15.17% are discount customers, 13.10% are loyal customers, 7.59% are customers and

5.52% are the potential customers. These sum up to that 60% of the customers who chose Nykaa as

their platform. 22.76% of respondents who do not purchase beauty products online and the rest are

the 17.24% who purchase beauty products online but do not choose Nykaa as their platform to

purchase. These sums up tothe of the respondents who fall under the option “did not opt” as shown

in the table.

According to 2020 data

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5) Classification of the 60% of respondents who choose Nykaa based on their reliability of
thebrand

Reliability (table 1.6)

Cumulative

Percent
Frequency Percent Valid Percent

Valid did not opt 58 40.0 40.0 40.0

highly not 1 .7 .7 40.7

reliable

neutral 19 13.1 13.1 53.8

reliable 39 26.9 26.9 80.7

highly reliable 28 19.3 19.3 100.0

Total 145 100.0 100.0

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Interpretation: As we can see from the above table 1.6, 19.31% of the respondents are highly reliable

and 26.90% of them are reliable of the total of 60% of the respondents who choose Nykaa. 13.10% of

the respondents are neutral about the reliability.

According to 2020 data

6) Classification based on satisfaction levels with the brand

Figure 7.

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 Cumulative

Frequency Percent Valid Percent Percent

Satisfaction (table
Valid did not opt 58 40.0 40.0 40.0
1.7)
neutral 13 9.0 9.0 49.0

satisfied 44 30.3 30.3 79.3

strongly satisfied 30 20.7 20.7 100.0

Total 145 100.0 100.0

Interpretation: From the above table 1.7, we can see that 20.7% are strongly satisfied with the brand,

30.3%are satisfied and 9.0% are neutral about the satisfactory level.

According to 2020 data

7) Classification of the 60% of respondents who chose Nykaa based on choosing

any other brandthat is similar to Nykaa.

Cumulative
Figure 8.
Percent
Frequency Percent Valid Percent

Valid did not opt 58 40.0 40.0 40.0

yes 23 15.9 15.9 55.9

no 20 13.8 13.8 69.7

maybe 44 30.3 30.3 100.0

Total 145 100.0 100.0

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Interpretation: As we can see from above table 1.8, 13.8% of the respondents from the 60% of the

respondents who chose Nykaa have responded “no” when asked if they would choose any other

platform similar to Nykaa. 30.3% have responded “maybe” which means they do not have clarity

about it. 15.9% have responded that they would choose.

According to 2020 data

8) Classification of the 22.76% of the respondents who do not purchase beauty products based
ontheir reasons for not purchasing.

Figure 9.

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 Reason for not purchasing (table 1.9)

Valid Cumulative

Percent Percent
Frequency Percent

Valid did not opt 112 77.2 77.2 77.2

never needed to 15 10.3 10.3 87.6

purchase

not interested in beauty 7 4.8 4.8 92.4

& Cosmetic products

prefer offline over 11 7.6 7.6 100.0

online as offline gives

more personalized

experience

Total 145 100.0 100.0

Interpretation: As we can see from table 1.9, amongst the 22.76% of the respondents who do not

purchase beauty products online, 10.3% of the respondents said that they never got the need to buy.

4.8% of the respondents said that they are not interested in beauty products and 7.6% of the

respondents said that they prefer offline shopping over online as offline gives a more personalized

experience.

According to 2020 data

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10) Classification of the 22.76% of the respondents who do not purchase beauty products online

based on an imaginary question asked about what platform they would choose if they had to

purchase beauty products online.

FIGURE 10

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 Platforms chosen in case of purchase (table 2.0)

Cumulative

Percent
Frequency Percent Valid Percent

Valid did not opt 112 77.2 77.2 77.2

Nykaa 16 11.0 11.0 88.3

the body shop 6 4.1 4.1 92.4

Purple 2 1.4 1.4 93.8

lush 2 1.4 1.4 95.2

others 7 4.8 4.8 100.0

Total 145 100.0 100.0

Interpretation: From the above table 2.0, we can see that 11.03% of the respondents out of

22.76% preferNykaa as their platform in case they have to purchase beauty products online.

According to 2020 data

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 FINDINGS OF THE STUDY

➢ From the study, it was found that the males constitute 33.10% and females constitute

66.90%. Hereit is evident that females play a major role.

➢ 77.2% of the respondents fall under the age group of 20-25, 14.5% of the respondents

fall under the age group of 25-30, 3.4% of the respondents fall under the age group of 15-

20, 2.8% & 2.1% under30-40 and 40 & above respectively.

➢ 77.2% of the respondents have said that they buy beauty products online and 22.7%have

said that they do not purchase cosmetic products online. This statement helps in proving

the first objective of the study i.e., to study and analyze the online consumer buying

behavior.

➢ 60% of the respondents from 77.2% choose Nykaa as their online shopping platform

for buying beauty products which is a huge number. And the rest are the 17.2% of

respondents who choose otherplatforms over Nykaa.

➢ 18.62% of respondents are impulsive customers, 15.17% are discount customers,

13.10%loyalcustomers, 7.59% are tew customers and 5.52% are the potent customers.

These sum up to that 60% of the customers who chose Nykaa as their platform. 22.76%

of respondents who do not purchase beauty products online and the rest are the 17.24%

who purchase beauty products online but do not choose Nykaa as their platform to

purchase. These two sums up to the 40% of the respondents who fall under the option “did

not opt.”

➢ 19.31% of the respondents are highly reliable and 26.90% of them are reliable of thetotal

of 60% of the respondents who choose Nykaa. 13.10% of the respondents areneutral about

the reliability.

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➢ 20.7% are strongly satisfied with the brand, 30.3% are satisfied and 9.0% are neutral

about the satisfactory level.

➢ 13.8% of the respondents from the 60% of the respondents who chose Nykaa have

responded “no”when asked if they would choose any other platform similar to Nykaa.

30.3% have responded “maybe” which means they do not have clarity about it. 15.9%

have responded that they would choose.

➢ Amongst the 22.76% of the respondents who do not purchase beauty products online,

10.3% the respondents said that they never got the need to buy 4.8% the respondents said

that they are not interested in beauty products and 7.6% of respondents said that they

prefer offline shopping over online as offline gives a more personalized experience.

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 LIMITATIONS

❖ Nykaa spends more on research and development than the industry average.

❖ A large portion of the company is rented rather than purchased, resulting in higher costs.

❖ The company's ability to meet its short-term financial obligations is lower than the

industry average.

❖ Nykaa has not conducted market research in the market that it serves in the last two years.

❖ Because it has a lower budget for its quality control department than competitors,

consistency may not be maintained shortly.

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 SUGGESTIONS

❖ Nykaa must focus on using its strengths and opportunities to overcome its weaknesses

and challenges.

❖ As it is providing branded products at reasonable prices ensures reaching the upper-middle-

incomeclass even can focus on the lower-middle-income class group by offering products at

lower prices in smaller quantities so that they can afford them.

❖ Being a women entrepreneur must encourage other women to start up their ventures by

giving a platform to sell their products on the Nykaa website.

❖ Nykaa mainly targets the 22–35 age group but adding other age groups can expand the

business further.

❖ It must undertake additional promotional activities to bring awareness regarding products

in the men’ssection as most assume that the business of Nykaa is restricted to the Women

category.

❖ It mainly concentrates on urban areas than rural but by going rural they can add up to some

more satisfied customers and can up bring the standard of living of rural public.

❖ When it comes to the quality of the product, some customers doubt online products, Nykaa

must convey the originality of the product by having strong appealing advertisements. By

doing, they can even meet the competition easily.

❖ The company can avail gift vouchers to its potential customers and new customers so that

they canattract them to repeat their purchase

35
 CONCLUSION

As we all know, the market for the majority of products and services has shifted from offline

to online. Many entrepreneurs can reach their customers directly and offer their products at

reasonable prices by eliminating the costs of intermediaries. Nykaa capitalized on these

opportunities and entered the E-retail business in 2012, offering products from various brands

on a single platform. It ensures that customers always prefer a brand that provides the highest

level of quality and satisfaction. Many businesses suffered significant losses as a result of

COVID-19, but Nykaa experienced a 20 percent to 70 percent increase in business as usual.

As a result, the analysis provided in-depth data on Nykaa's business strategies and how these

strategies contributed to their success. Currently, few companies offer multi-brand luxury

products on their websites, allowing them to be market leaders.

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o Indian E-commerce to grow 84% in 4 years helped by COVID-19: Impact study

(2021). [Online] Available at to Retrieved on July 18, 2021.

o Aithal, P. S. (2017). Company Analysis – The Beginning Step for Scholarly Research.

International Journal of Case Studies in Business, IT and Education (IGCSE), 1(1), 1–18.

o Jadhav, V. and Khanna, M., 2016. Factors influencing online buying behavior of college

students: Aqualitative analysis. The Qualitative Report, 21(1), p.1

o Proofreading

o PDF’s

o Project works

o Rastogi, A.K., 2010. A Study of Indian Online Consumers & Their Buying Behaviour.

International ResearchJournal, 1(10), pp.80-82.

o Nykaa website

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