A Challenging Road Ahead
The online furniture market continues to drive growth, and the leading players in the scene are sharpening their tools. Pepperfry recently appointed Mahip Dwivedi as vice president of marketing, aiming to cater to the need for fresh, innovative marketing strategies. Mahip, who holds an MBA from MS Ramaiah Institute of Management in Bengaluru and more than 14 years of experience in digital and performance marketing, was previously the chief marketing officer of Tyke Investment. Mahip is expected to spearhead Pepperfry’s marketing strategy, brand communication, performance marketing, retention and public relations functions.
However, he has a tough job at hand. According to a report by consulting firm RedSeer, India's home and furniture market is anticipated to hit $40 billion by 2026. Moreover, the number of online furniture shoppers is estimated to rise from 1.8 million in FY21 to 4.8 million in FY26, owing to the changes in consumer behavior caused by the pandemic. In fact, marketing heads have a challenging journey ahead, especially with the power of the online world and social media. A small overlook can cause grave dangers to your brand. Marketing professionals should take the bus from the times when they worked off assumptions or gut feelings. Today, they need to turn to the most reliable source of information: Customer data. It goes beyond doing the right thing or being politically correct while publishing an advertisement.
By now, we all know that Data and analytics help to gain better clarity about the target audience and equip organizations with the ability to build stronger connections with potential customers. Most importantly, when the entire consumer market demands unique experiences with every transaction, marketers can offer consumers personalized suggestions relevant to them. It’s a priceless boon that yesteryears’ marketers could only dream of.