As the economy goes through various stages of unlock, and everyone tries to limb back to some semblance of normalcy, the big question is are people going to open up their purse strings. And if they are, what will they spend on.
Nikhil Vora, Founder & CEO of Sixth Sense Ventures said that pandemic has cut short the time in which certain changes were to happen.
“A lot of times there has to be something drastic that happens and changes the way businesses operate and that event basically cuts short the time period which is required for the change to happen. COVID in India is possibly one such moment,” he said.
According to Vora, brand loyalty in India is at an all-time low and brand awareness is at an all-time high.
“This is a great case for disruption to happen. So, unlike in the past, now new-age brands, both on the physical side as also on the B2C side, have an ability to take 2-10 percent market share which possibly they would have taken over a 5-7 year period if they survived, to now possibly taking that sort of market share in a 3 year period,” he said.