When asked about how Nykaa decides what the Indian consumers want, Falguni Nayar said that everyone is obviously aware of what is going on in the world, “the various brands and products that are doing well internationally".
But, Falguni Nayar said, “Our secret sauce comes from our customers trusting us to bring them the best of what the world has to offer. And they write to us and we are very open. We listen to our customers and honestly all ideas come from them. They tell us what to bring or where to open the store because we have always been very active on social media."
“When we initially started announcing that we are launching a store in Bareilly, UP, to our surprise, that post had 100-200 comments on suggesting ‘come to this town’ or ‘come to that town’. We will note it down. Similarly, when we launch a new brand or new segment…to create some excitement, we will say ‘guess which brand we are launching,’ and then comes the list of 100 brands that our customers want. We listen to our customers and all of our ideas. And our conviction comes from our customers telling us things."
Falguni Nayar also said that the millennial customers of Nykaa are the key to her brand’s success in the early days. “Since then, consumers from the old age group are also buying beauty products, but the initial success was from millennials," Falguni Nayar said.
