The healthcare market in India is estimated to grow at a compound annual growth rate of 23% from 2015 to 2020 and is expected to be a $280 billion market by 2020. Only 10% of the Indian population goes to Ayurvedic centers. At present, the Ayurvedic products market is at USD 2.5 billion dollars and is expected to be $8 bn by 2022.
allAyurveda, an online managed market place, offers customers an array of natural, organic, herbal and natural products. The company is a comprehensive and holistic eCommerce ecosystem for natural living requirements. Presently, there are three main offerings of allAyurveda such as marketplace, doctor Consultation and content.
Replying to Yash Ved of Newsbarons, Sandeep Bali, CEO, allAyurveda.com says, “For the next 5 years, we are looking at being the world’s most comprehensive ecosystem to deliver Ayurveda and Natural Wellness online.”
NB: What is allAyurveda.com all about?
Sandeep: allAyurveda was started in 1998 after witnessing a dotcom boom in India. At the onset, it eRetailed range of Baidyanath products but over the years it progressed to also providing rich content on Ayurveda to educate consumers and the usage of ayurvedic products in daily lives. This content, which is verified and vetted by qualified Ayurveda doctors and experts, plays an important role in educating consumers and encouraging them to embrace Ayurveda in their daily lifestyle.
In early 2016, we started witnessing an exponential growth in traffic without any marketing. This was a clear indication of people being increasingly aware about Ayurveda and wanting to embrace it. We saw this as an opportunity to transform our brand into a comprehensive and holistic eCommerce ecosystem for all natural and Ayurveda requirements. We expanded the offering to include more brands to provide width and depth of categories and products.
NB: How does allAyurveda.com differentiate itself amidst peers? Share more about some of your unique aspects?
Sandeep: The uniqueness of our brand lies in its DNA of being an ecosystem rather than just an eCommerce marketplace. Besides, being an Ayurvedic and natural living products marketplace, we educate consumers on natural well-being through rich authoritative content and easy access to doctor consultation by facilitating it online. Apart from that, we offer a low price guarantee so our consumers enjoy a price benefit.We also provide equal opportunity to lesser known wellness brands that have good quality products but lack the national reach.
NB: What is the size of the your customer base?
Sandeep: We have over hundred and twenty thousand customers in India and globally.
NB: What are the factors for business growth?
Sandeep: In the past few years, there has almost been a mass consciousness towards natural wellness including Ayurveda and this can be attributed to the efforts taken by the Ministry of AYUSH by commemorating the ‘International Yoga Day’ and ‘National Ayurveda Day’ and also due the foray of leading FMCG players into the herbal and ayurvedic products category.
NB: What are your plans going forward?
Sandeep: For the next 5 years, we are looking at being the world’s most comprehensive ecosystem to deliver Ayurveda and Natural Wellness online. We will be expanding categories, especially beauty and fitness and are also looking at bringing international brands to India and vice versa.
We are also working on strengthening our panel of experts to offer better content and to have an engaged community.
NB: Which new markets are you planning to expand?
Sandeep: We aim to make inroads into the US, UK and Middle East in the coming years; as part of the first leg of our expansion, we will launch in the US market by early next year.
NB: Any new brands you planning to launch/ bring on-board allAyurveda.com?
Sandeep: We presently have 35 brands and are in final stages of talk with few popular and niche brands.
NB: What are the challenges do you face in the industry?
Sandeep: Things are fairly promising due to the emergence of new age Ayurvedic brands and increased awareness due to govt efforts. Only challenges seems to be that majority users of Ayurveda are located in tier 2 and Tier 3 cities, while internet penetration in these cities is limited to chat messengers and not e-commerce. We are working in some initiatives with the help of our logistic partners to reach these customers in a way that they are already comfortable with and slowly transition them into eCommerce users.