Online shopping is the new normal. An increasing number of players are taking the omnichannel route to increase their market share and clientele beyond the brick-and-mortar trade.
Redseer, the consultancy firm in the digital ecosystem, evaluated 1,000+ companies with over 2,000 brands across key consumer product categories to identify companies that made a mark in 2022 by building a strong digital presence and disrupting the space.
The Digital Disruptors ranking, derived from multiple factors, offered insights into the building blocks that set digital leaders apart from their competitors.
The companies researched were segregated into three categories: Electronics & Appliances, Fashion & Home, and Grocery & Personal care.
The elements considered for the ranking of companies included their online market share in the category, percent sales they derive from e-commerce, their growth and performance on e-commerce platforms.
In order to arrive at a ranking, Redseer leveraged its full toolkit, including ‘Redseer Benchmarks’ to track the performance of leading eCommerce platforms, ‘Redseer Brandverse’ to track the performance of over 2000 brands across 50 sub-categories, and ‘Redseer eCommerce Diagnostic Toolkit’ to access ‘Key Success Factors’ of eCommerce excellence.
Anil Kumar, CEO and founder, Redseer, stated, “With digital-first brands accounting for ~25% of online sales and expanding their footprint in the offline market, traditional brands have newer challenges to conquer. Legacy companies need to focus on building digital capabilities and adopt an omnichannel approach to stay relevant in the digital age.”
The research identified 75 Digital Disruptors across three categories who created waves in the Indian eCommerce market in 2022 with successful innovations.
The top 3 brands in Electronics & Appliances sector were boAt, BBK, and Asus, while Aditya Birla Fashion and Retail, Puma India, and Wakefit ruled the Fashion & Home sector. Hindustan Unilever, L’Oreal India, and Licious took the top positions in Grocery & Personal Care.
The brands listed in the report  accounted for ~$ 15 Bn in online sales, significantly impacting the Indian eCommerce market.
Mohit Rana, Partner, Redseer, explained the methodology for categorizing digital disruptors. “The companies were divided into four distinct quadrants based on select criteria. The early movers or the ‘Tigers’ in the eCommerce space, scaled up rapidly and built their dominance online as well as offline. Legacy players, or the ‘Elephants’, are the dominant offline players who have scaled up well online. ‘Rabbits’ are typically digital-first companies who have leveraged the eCommerce space well but are yet to scale, while the legacy players that have built a good online presence but have a comparatively lower online market share are the ‘Turtles’. Players in the top quadrants will have to enhance their focus on offline sales, while the bottom quadrant will have to approach eCommerce aggressively.”
Saurav Kumar Chachan, Director, Redseer, shared some interesting insights, “Over 45% of Digital Disruptor brands are ‘Digital-first’ companies. They began as online ventures and built scale by expanding into new sub-categories. These companies are expanding operations into brick-and-mortar trade to capture a larger market share.” Saurav added, “Traditional brands across categories have recognised the criticality of e-commerce to stay relevant. While some have been able to mark their presence in the space, many have struggled to adapt to the agility and financial parameters of the online market. Currently, digital-first brands typically derive over 75% of their sales online, while traditional players garner less than 30% of sales from online transactions.”