So far 2020 has not been an easy one for any business. As term sheets, market debts, growth forecasts get re-evaluated, it has become clear that durable companies cannot be one-trick ponies. Entrepreneurs need a long vision lens to build a business - especially a consumer-focused one - that will be solvent beyond the first act.
While most investors and startup founders maintain that the secret sauce to success, is a dogged focus on the consumer's needs along with the interplay with technology to enhance the consumers' journey. Having said that, the current economic environment is not easy and the going has become very tough for a large number of consumer-centric companies.
One of the largest markets in the world, the Indian consumer is always asking for more. As internet penetration increased over the last few years, we saw the birth of consumer tech brands looking to cater to this demanding customer - from essentials such as food & grocery to furniture, services, cosmetics, and so on.
While the opportunities are infinite, there are multiple challenges as well - and that brings the question - what does it take to create a consumer business in India that is built to last? To answer this, Shereen Bhan spoke to Ambareesh Murty Co-Founder & CEO of Pepperfry, Abhiraj Singh Bhal Co-Founder of Urban Company, Manish Taneja Co-Founder & CEO of Purplle and Ashish Sharma CEO of InnoVen Capital India.