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Why women entrepreneurs are leading the way in eCommerce business?

Behind every successful woman is herself – Bart Jackson (CEO, Prometheus Publishing)
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An educated woman would never like to be confined inside the boundaries of a house. They want equal rights, respect, and value from their male counterparts. Though they have a long way to go, progressive thoughts of Indian society have increased women's aspirations for a better lifestyle and social status. 

Though the changes are slow, women have succeeded in making a name in business due to their perseverance, hard work, and diligence. As per a joint report published by Google and Bain & Company, women entrepreneurs can potentially create 150 million – 170 million jobs in India. It's because the real strengths of women entrepreneurs in India are their persuasiveness, ability to learn quickly, ability to encourage people, ability to take risks, and open style of problem-solving.


What is motivating more women to take up entrepreneurship?

  • Scope to work in a more creative environment
  • Freedom to manage family & professional life
  • A rare gift to turn a problem into an opportunity
  • Desire to ideate, lead, bring a change, gain recognition & social status
  • Their vision to have economic independence
  • Have a better understanding of the need gaps
  • Working for oneself provides more freedom than working for someone else
  • Indian role models like Kiran Shaw, Shradha Sharma motivate young women 
  • Entrepreneurship offers more fulfillment than regular jobs
  • It gives better control to deal with changes in personal life & career


Emerging business sectors opted by women entrepreneurs

Here are some of the important sectors opted by women entrepreneurs for business

  • The biggest segment of women entrepreneurs (16%) belongs to the creative services category (Writing/Design)
  • The second position (12%) goes to health & allied
  • The third position (10%) goes to apparel and accessories
  • The fourth position (7%) goes to education
  • The fifth position (6%) goes to Law/Architecture/CA

Some outstanding women entrepreneurs in 2021

Marketing Guru Peter Drucker once said, "Whenever you see a successful business, someone once made a courageous decision.” 

Meet some of the most courageous & extraordinary women entrepreneurs in 2021.

Image source: peepingmoon.com

FALGUNI NAYAR

Falguni Nayar, a graduate of the Indian Institute of Management, Ahmedabad, spent 19 years as a Managing Director in Kotak Mahindra Group. She exited the company in 2012 to build Nykaa, a beauty and fashion retailer company.


Nykaa’s fantastic journey to the unicorn club

Inception

Started in 2012 as an online beauty retailer, its niche helped build a base in the eCommerce space dominated by Amazon and Flipkart.

Omnichannel

The eCommerce player adopted an offline-online approach in 2015, opening 76 brick and mortar stores across the country. It is looking to increase 180-200 Nykaa outlets in the next 4-5 years and has over 2,00,000 products across 2,000 brands.

Expansion

Nykaa Man, India's first multi-brand eCommerce store for men's grooming, was launched in 2018. The company expanded into fashion by launching Nykaa Design Studio, which was renamed Nykaa Fashion. Nykaa PRO, a premium membership program introduced in 2020, grants users’ exclusive access to professional beauty products and offers via the Nykaa App.

IPO Launch

Falguni Nayar joined the rarefied ranks of self-made billionaire women this week as the Indian beauty startup she founded went public and promptly doubled on its trading debut. Nykaa crossed the market capitalization of Rs 1 lakh crore during its market debut on 10 Nov 2021.


Some words of wisdom from Falguni Nayar

“Women need to allow the spotlight of their lives to be on themselves,” Nayar said in an interview after the trading debut. “I hope more women like me dare to dream for themselves.” 

In the eyes of budding entrepreneurs, she has set an example for a new generation to follow and has proved that she is a true Nayika for millions of Indian women.


Image source: Indian Express

RAJNI BECTOR – Padma Shri Awardee

Rajni Bector, founder of Cremica Group of Companies, and Mrs. Bectors Food Specialities Limited, is a Ludhiana-based industrialist whose passion for cooking brought her to great heights.

In her own words, "I had a special love for cooking, so I continued to try new recipes and held parties for family and friends. At that time, there were no helpers, and I used to do everything on my own. It started in my kitchen, making various flavours of ice creams, then added sauces, cakes, and puddings.”


Rajni Bector’s journey to success:

  • Cremica Food Industries Ltd, a leading Indian FMCG company, was established in 1978
  • Rajni started a small ice cream factory inside her house with Rs 20,000.
  • She began making bread and biscuits, receiving orders for weddings, parties, and from caterers.
  • As she made ice cream with cream, So, Cremica was created, and its branding was carried out in the early 1980s
  • A biscuit plant commissioned and ice cream parlour opened in Ludhiana 
  • Collaborated with Mc Donald’s for supplying buns in 1995. Two decades later, Cremica continues supplying to McDonald's.
  • The first bun plant was set up in Ludhiana, followed by Delhi, Mumbai, and Bengaluru plants.
  • Bagged the Joint Venture to provide sauces to Mc Donald’s 


Rajni Bector was awarded the prestigious Padma Shri award by President Ram Nath Kovind for Trade and Industry on 9 Nov 2021. She was acknowledged for being a source of woman empowerment and an inspiration for many women way back in the 1970s when there were scarce opportunities for women.


Rajni’s advice for budding entrepreneurs

Her only advice to the entrepreneurs and budding chefs is to consider their work as worship. They should work hard to excel with complete dedication. Hard work and dedication were the only lessons she learned, and she is glad that people loved their products.


Conclusion

Women are the ones in the driver's seat when it comes to running a business. They are the ones who are making a difference in the industry by taking business initiatives and ensuring an even more profitable future for the eCommerce industry. 

Fynd Platform is committed to women's empowerment in the society. The Platform is developed in such a way that women entrepreneurs can start selling their products & services directly from their website in just 30 minutes without worrying about any technical challenges. For more information about how Fynd Platform can help build an online business, Connect with us now.


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