Everything Vidit Aatrey said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Indian VCs struggle with novel models due to reliance on pattern-matching
“A lot of people in India take time to understand a new model because they're not a lot of new models in India anyways. A lot of large companies have been inspired by the West. A lot of fundraising has happened because of pattern matching, et cetera.”
Aatrey: Marketplaces cannot be commoditized like payment protocols
“Payments are same on every app. It's not that my, if I do payment with one app to the other, they stand for different things. Payments is a commoditized one simple thing. Products are not. Like it's two different stores you go to cannot be exactly the same. Th…”
Vidit Aatrey: Nykaa does not represent mainstream Indian e-commerce
“I don't think that company is a good representation of India e-commerce. It's very narrow in a category, and very narrow in terms of the customer base they serve. Their average order value, if I remember, comes from 1518 102,000, something like that.”
Meesho deliberately hides its brand to let resellers build their own identities
“We do not put Misho's name in front of the end consumer, right? We want this lady to create a home brand, because with that brand comes our identity, with that identity comes respect and confidence, which is a very core part of the gratification that you get f…”
Founders building novel models should never treat investor rejection as validation
“Should not ever take an investors know as validation. That's the worst thing that you can ever do to a business because most investors look retrospectively. So they are looking at businesses that have been already proven. If you take validation from investors,…”
Aatrey: BlissClub is India's first women-focused fitness brand
“What she's trying to solve is she's fundamentally building the first women focused fitness brand, right? Because in India, most fitness brands have always been associated with men. Like no one saw women focus problems.”
Meesho CEO: Micro-influencers outperform celebrities via brand alignment
“Very, very small influencers are very effective, because it's just not go to the celebrity with millions of followers. You have to find someone who connects with the principle of the brand.”
Vidit Aatrey: Top influencers will match celebrity follower counts within years
“In the next few years, some large celebrities will have the same following as, ah, some large influencers will have the same following as celebrities.”
Aatrey: Hyperlocal celebrity marketing outperforms pan-India ambassadors
“So, we kind of, we had different celebrities for different parts of the country.
Like, we had Swaro Ganguly for West Bengal, we had Ram Charan for a certain state in South India.
So, I'm saying it's a, it's basically we went very local
and we saw that to be mu…”
Aatrey: Meesho's core positioning is the deepest selection at the lowest prices
“When they come to Misho, people believe that this selection I will not get for a more affordable price anywhere else. Like they have to believe this. And I will get the largest possible selection in the price points that I can afford.”
Aatrey: Early profitability pushes e-commerce companies into a negative spiral
“There are one stage of the business, especially in e-commerce. You need to cross a critical mass of scale. And unless you get there, if you try to become profitable too soon, you get into a negative spiral.”
Aatrey: Meesho will become profitable by the end of 2023
“So, our goal is, I think by the end of this year, we'll become profitable.”
Hyperlocal fashion fails because consumers demand vast selection and discounts
“People do not buy fashion the same way they buy food. People are looking for a lot of selection, which is not available with few shops around you. When people in India buying online, especially fashion, they're looking for discounts, which are not available un…”
Many women join Meesho for respect and identity, not just income
“There are a lot of women who come here not to make money. Their families are earning enough, but they're coming here because they want respect.”
Over 80% of women in large Indian cities stop working after marriage
“Even among developing peers, participation of women workforce in India is the lowest across the world. 70% of women in India don't work after marriage. And that number is above 80% for large cities.”
Aatrey: Meesho solves trust deficit via community social sellers
“What we end up using is we leverage trust of people in your own community who come and start these social stores and then start selling to people around them, especially in unbranded products where you have no idea what will happen to this product after a mont…”
Endlessly scaling customer support indicates underlying product flaws
“If, for example, if you keep scaling customer support, if you need customer support, that means there's something wrong with the product, right? So you have to go back to the drawing board and understand why are people calling me, right? And then you start opt…”
Facebook will fail if it attempts hands-on commerce operations
“Even if they start doing, it'll have to stop at some time, because this is one of the few things that are going to happen on WhatsApp. It's not the only thing that's going to happen.”
Aatrey: First-time founders err by letting VCs dictate product direction
“It's the biggest mistake most first-time founders do, right? They think, hey, they are going to fund us. Like, if you just listen to them, things are not going to work out. But it's never the case. You have to believe in what you're doing.”
Aatrey: Most Indian startups will build for Tier 2 and 3 audiences
“Especially, I think for the next 10 years, most products that we built in India will be built for tier two, tier three audiences. Right? And most of these people who will be building startups will come from Metro, will come from IITs. And they will not be them…”
Aatrey: Western-inspired products cannot work for Tier 2–4 Indian users
“They don't behave in the same way as Western users do. So you can't get the same in Western inspired product into India and get, make it work for them.”
Aatrey: 85% of Indian retail is long-tail unbranded small businesses
“And 85% of India retail happens via a lot of these long tail unbranded small businesses.”
Aatrey: Activewear brand BlissClub was built entirely on Instagram
“That entire brand was by the way built on Instagram. Like everything was built on Instagram and they found people.”
Aatrey: Meesho users frequently image-search Instagram screenshots to buy products
“One of the very common Products that people use on the Misho app is people take photographs and they search that same photograph and buy. And most of those photographs come from Instagram.”