New age brand founders say that many young consumers are choosing to buy based on brand stories first and products second. In the era of sustainability and brand connection, D2C founders and new-age company founders say that their stories convince consumers to buy again and again, but others say that it’s the product that convinces the consumer because it solves their problem.
Jatan Bawa, the founder of Perfora, an oral care brand of Shark Tank fame, noted that consumers are more likely to believe in the story of a young brand that is pushing the boundaries of the industry, as opposed to legacy Indian brands whose founders are not well-known or whose brand building story is less well-known.
Founder and co-founder of Sirona, a pioneering female tech startup, and angel investor, Deep Bajaj believes that consumers buy brands based on the promises they make, and startups that cannot afford large-scale advertising can tell their stories to the next generation.
New age brand groups build on this ‘we really care about more than just the product’ narrative by paying attention to things like packaging, ingredients, communication channels and personalization, he noted.
Arman Sood, co-founder of Sleepy Owl Coffee said,
He did say, however, that the customer will fall in love with the story if there are multiple solutions to the problem. Sood said,
Bala Sarda, Founder and CEO, VAHDAM India also believes that the product needs to be at the top of the agenda, especially at a time when consumers are becoming more aware of the issues surrounding product development.
He also added,
India’s business landscape has changed a lot in the last decade. Today, India has the 3rd largest startup ecosystem in the world with more than 1 lakh startups and 108 unicorn companies.
That is all for the news today. What do you feel about the new age brand founders’ revelations? Let us know in the comments section. If you like what we shared with you, feel free to pass it on to others who might like it as well. For more business news today and updates on latest startups, visit the Startup section under the Business category on the News Magnify homepage. You can also follow us on Facebook, Instagram, or Twitter. Additionally, stay connected with India news online via our Telegram Channel.