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How has FirstCry Identified the Opportunity?
In today’s newsletter, we explain how FirstCry identified an Untapped Opportunity.
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When buying things for children, you have to be a lot more careful than when shopping for an adult. All parents want the best for their children, so it's imperative that the items they use are safe and healthy. No matter if you're buying in a physical store or online, you should always exercise caution while dealing with children.
For more than ten years, India has been a hotbed for the e-commerce industry. People started doing a lot of their business online after the pandemic, and this trend has only gotten more popular since then.
The names Flipkart, Amazon, and Myntra are among the most well-known in the realm of online retail. In addition to this, there are several online stores that focus solely on items for infants, children, and pregnant women. Everything a kid and their parents could possibly want is right here.
One of these is FirstCry, which advertises itself both physically and digitally as Asia's largest retailer of baby and children's goods. Everything you need to know about the FirstCry brand may be found on this page. OK, then let's start right now.
Journey and History of FirstCry
FirstCry was started in September 2010 by Sanket Hattimattur, Amitava Saha, Supam Maheshwari, and Prashant Jadav. The main objective of the company was to stock its shelves with high-quality baby care products made by well-known brands.
Diapers, nursery goods, clothing, toys, skincare, medicine, and so much more are all available here for your little one. FirstCry offers over 200,000 products from over a thousand different companies, many of which are from India and the rest of the world.
When FirstCry was founded, you couldn't buy baby supplies online. The people who made FirstCry saw that there wasn't a specialized online platform for children's items, so they made FirstCry as the first of its kind.
FirstCry also owns the clothing brand Babyhug and the shoe brand Cutewalk. FirstCry has around 380 retail locations in India, with its headquarters in Pune, Maharashtra. FirstCry opened its first retail location in Srinagar this year. Currently, it has franchises in over 100 different cities around India, bringing the total to well over 150.
Products and Brands Available at FirstCry
As was already said, FirstCry has everything you can think of for babies, toddlers, and young children. Here are just a few examples:
Food Products Available at FirstCry
Cereals and breakfast
Baby Care and Diapering Products
Baby shampoo and cream
Not only these products, but fashion accessories, clothes, toys, footwear, and much more to explore on FirstCry.
Revenue and Business Model of FirstCry
In order to get its online clients to shop at its physical locations, FirstCry adopted the Online-to-offline (O2O) business approach.
FirstCry took the initiative and partnered with hospitals around the country so that new parents would get a "FirstCry Box" as a token of their appreciation and congratulations on the birth of their child. FirstCry's brand awareness soared thanks to this campaign, which put the company's name in front of tens of millions of expectant parents. By doing this, the rate of conversion skyrocketed.
It has switched to a hybrid business model and is now putting most of its efforts into growing its physical presence. Products from Cutewalk and BabyHug also contribute to their bottom lines.
FirstCry is the newest member of India's exclusive group of privately held companies called "Unicorns." Based on its current revenue of INR 897 crores, the company is worth an astronomical $1.9 billion, making it the newest member of this club. As of the year 2021, FirstCry has more than 2,000 employees.
There are some primary aims of FirstCry on which they are mostly focusing on -
Maximizing product orders is the primary objective.
Follow up with buyers to encourage repeat business.
To boost typical purchase amounts.
To stimulate more active participation from existing customers.
Challenges Faced by FirstCry
Marketing disorder is an issue.
The difficulty here lies in comprehending the parents' needs and actions.
Solutions to Deal With These Challenges
They have practiced some measures to address the problems, and these are -
Analyzing the funnel is being utilized to get insight into parental behavior.
Products are suggested to consumers based on their past buying habits and current actions.
FirstCry Competitors Companies
Himalaya baby products
Mamearth baby products
FirstCry was able to reach its goals of repeat purchases and an increase in the average order value by mastering the right strategies, like customer engagement. The number of times FirstCry has been downloaded from the Google Play store has reached 10 million.
A lot of pressure comes with becoming the first online store in a country to sell items just for infants and toddlers. To live up to its reputation as Asia's largest retailer stocking every conceivable type of baby care product, FirstCry will stop at nothing to maintain its leadership in the industry.
Oh, and before you go.
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