It’s a fast-evolving situation that will continue to grow faster than other channels, he adds
Digital has always been important for TTK Prestige, as is seen in the wide-ranging approach in which the company connects with its consumers. It was hence, no surprise when the company known for its kitchen appliances and cookware, invested in its ecommerce presence, as part of its digital transformation journey.
Earlier this year, TTK Prestige also included its UK cookware brand Judge in its ecommerce network. Present in India since 2017, Judge is part of the TTK Prestige-owned Horwood Homeware company that targets value-seeking customers. TTK Prestige tapped on digital commerce’s massive potential to address this set of consumers.
Reflecting on the overall ecommerce play for the company, Chandru Kalro, Managing Director, TTK Prestige, said, “Today, ecommerce is a key part of our growth plans. We have
an ecommerce-centric strategy that includes specific products and combinations. We are strengthening our presence. Our strategy includes investing in our own website, enhanced presence on different platforms, and a comprehensive omnichannel play.”
Upping The Game
While TTK Prestige has invested in its own ecommerce network, Kalro advised that the best strategy for brands was to follow the dual model of being present on pureplay ecommerce platforms and have their own ecommerce channels. “We strongly believe that if planned correctly, both platforms can complement and supplement each other. Both are essential,” the leader said.
In the last 18 months, consumers adopted ecommerce in unprecedented ways. Even though there are expectations for some of this to change once normalcy has returned, Kalro believes that most of these changes are irreversible. “It is impossible for customers to live without convenience and information. Therefore, online is the first port of call for search, browsing or purchase,” he stated.
This has had a direct impact on TTK Prestige’s investments. Kalro explained, “Overall digital spending has gone up for us. Our entire perspective of consumer communication has changed in favour of ‘engagement’. Ecommerce media planning has become essential. This
trend is only expected to continue further in this direction.”
Kalro does warn about the current situation though citing that both online and offline channels are encroaching into each others territory. He added, “This will create new dynamics. Brands like ours will have to constantly watch and adapt.
For Kalro, omnichannel, direct-to-consumer and the likes of WhatsApp commerce are some of the key trends that are emerging in this space. “There is more coming over the next few years and 5G will be a gamechanger when that happens,” Kalro asserted.
One of the biggest outcomes of ecommerce growth is the opening-up of different geographies, including India’s regional and smaller markets. The experience is the same for TTK Prestige as well. Explaining this, Kalro said, “The best part of ecommerce is that it is increasingly demolishing barriers. It is becoming one of the most efficient ways to reach customers in tier 2 and 3 markets.”
Kalro is bullish on the fast growth rate of ecommerce not only in the present but also in the post-pandemic scenario. He summed up, “The Indian customer is the fastest when it comes to adapting to new practices. Ecommerce, as we know it, itself will be redefined as we move forward. It’s a fast-evolving situation that will continue to grow faster than other channels.”
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