AID22059: Nykaa is an Indian e-commerce platform that specializes in beauty and wellness products. Founded in 2012 by Falguni Nayar, a former investment banker, the company has become one of the largest players in the Indian beauty industry. In 2018, Nykaa launched its own private label line of products, which included makeup, skincare, and haircare. The company’s decision to enter the private label space was driven by the desire to provide customers with high-quality products at affordable prices. The move paid off, as Nykaa’s private label products became a hit with customers. By 2020, the company had over 2.5 million customers, and its private label products accounted for more than 30% of its revenue. In addition to its e-commerce platform, Nykaa has also established a strong offline presence. The company has over 80 brick-and-mortar stores across India, including in major cities such as Mumbai, Delhi, and Bangalore. The stores are designed to provide customers with a seamless shopping experience, with a range of products and services on offer, including makeovers, hair and skincare consultations, and product demonstrations. Nykaa has also been quick to embrace the latest trends in the beauty industry. In 2020, the company launched an augmented reality feature on its mobile app, which allows customers to try on makeup virtually before making a purchase. Despite the challenges posed by the COVID-19 pandemic, Nykaa has continued to grow. In 2020, the company raised $13.6 million in funding from a group of investors, including Stead view Capital and Singapore’s sovereign wealth fund GIC. The funds were used to support the company’s growth plans, which include expanding its product range and further strengthening its offline presence. Overall, Nykaa’s success can be attributed to its focus on providing high-quality products at affordable prices, its strong offline presence, and its willingness to embrace the latest trends and technologies in the beauty industry. Nykaa wants to expand in food delivery. You have to conduct research for Nykaa.
a. Develop a questionnaire to survey the consumer and collect their response on what factors might be responsible for consumer’s interest in online food buying. (5 Marks)
b. Assume you have to conduct an interview. Who will be ideal respondent for the interview? How will you approach them? (5 Marks)
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