Thrive don’t just Survive: Winning in D2C by Bharati Balakrishnan - EngageMint 2023 Bengaluru
Discover the secrets to thriving in the world of Direct-to-Consumer (D2C) with our insightful session featuring Bharati Balakrishnan ...
Country Head & Director- India, Shopify
Search every verified Bharati Balakrishnan interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Bharati Balakrishnan, Country Head & Director-India at Shopify, has been speaking about the state of direct-to-consumer (D2C) commerce in India and Southeast Asia. She described D2C in India as being at "day zero," stating that every category is opening up to new brands. Balakrishnan cited a Shopify entrepreneur index report indicating the company's impact on India's GDP is about $1.8 billion and that it is creating roughly 220,000 jobs in the country. She noted that inflation is a challenge for brands, and that loyalty and repeat purchases remain difficult for many businesses. Balakrishnan emphasized the importance of a multi-channel presence from day one, stating that brands reaching 100 crores in India have always operated in more than one channel. Balakrishnan also discussed Shopify's reliance on local app partners in India to handle complex features like GST, and highlighted the importance of local payment partners across Southeast Asia. She described social commerce as "coming into its own stride" and said omnichannel retail is here to stay. Balakrishnan mentioned Shopify's AI tool "Sidekick" as a resource for merchants, and stated that the company's mission is to "make commerce better for everyone" and to walk with brands "from hello to IPO." She characterized India as a market with nuances such as UPI and cash-on-delivery, noting that new users are coming online daily.
“Shopify's impact to GDP in India is about $1.8 billion and they're creating about 220,000 jobs in India across all their brands, which shows the scale Shopify is operating at in India today.”
“Inflation is a real challenge today; the cost of making any product has gone up especially after COVID, and brands struggle with whether to pass that cost on to customers or reduce margins.”
“Building a big brand that outlives you is no trivial challenge; competition is fierce and while it's easy to start a D2C brand today, sustaining and growing it requires time and effort.”
“Loyalty is a real challenge; many brands focus heavily on acquisition but struggle to get customers to make repeat purchases, as consumers are experimenting with many options.”
“From day zero, brands must focus on creating a single view of the customer by integrating data from POS, inventory, and online channels to leverage technology for better customer engagement and operational efficiency.”
“Brands that reach 100 crores in India have always been in more than one channel; planning for multi-channel presence from day one is critical to success.”
“India is not a single market but many slices; brands selling at premium price points often target India 1 consumers and the Indian diaspora globally, leveraging Shopify Plus to expand internationally.”
“Payments and shipping are solved in India today, making it much easier to start a business and sell globally than it was five years ago.”
“Good brands today are very focused on loyalty and calculating how much growth comes from repeat customers, balancing that with acquisition budgets and using influencer marketing more strategically.”
“Shopify is a product company serving 175 countries and relies heavily on app partners in India to handle complex features like GST, as building all features in-house would be too complex.”
“I think India is definitely one big country so we're definitely not shipping as often to multiple countries like we do in Southeast Asia but India has its own nuance when it comes to payments, you know UPI which was sort of introduced by the government and embraced by the population now does a few billion transactions...”
“Cash and delivery, which is when you pay for a delivery upon receipt in cash as an end consumer, is an important offering that our merchants need to continue to make to their consumers because every day in India there are new users coming onto the internet and every day some of those users are becoming shoppers online...”
“It's very important to be local when you do business in Southeast Asia. For example, we partner with the top payment partners in each of these markets so a merchant who's in business in the Philippines is using Pay, and the same merchant when he's also running his business in Malaysia is using eGHL or iPay88 or 2C2P an...”
“Social commerce is really coming into its own stride. Content is meeting commerce when the way you or I buy certain categories is completely changed because we are discovering these brands first on a social channel where we're browsing mindlessly and spending time often.”
“Everyone agrees that omnichannel is here to stay. It doesn't matter whether you shop online or offline. Traditional brands have realized that their customers are also going to come online and here's an opportunity to increase spend per customer.”
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