Business Today 14th January 2018 - Page 162

The Best Management Lesson I Learnt ‘Follow Your Customer’ BY FALGUNI NAYAR CEO and Founder, Nykaa.com Sifting through each order tells you all about customer behaviour, trends and the larger story at play. his is a habit I picked up from the very first days of Nykaa. The orders were in double digits, and it was not difficult to browse through each one, looking at the product selection, understand- ing the geographic market and trying to get a hint of the personal- ity. For me, it was a fascinating insight into customer behaviour. A doctor from Patna ordering a red lipstick, a woman from Guwa- hati ordering shampoo at 8 a.m. Who were these people? How did they discover Nykaa? Why did they want to buy these products from us? The takeaways have been immense. For someone new to the world of beauty, I began to piece together buying patterns. How did customers assemble their carts? What products did they add first? Did they buy make-up and skincare products sepa- rately? What was that last ‘throw-in’ product and why? At what time of the day did orders spike and why? It allows me to put the finger on trends. False lashes, brow products, hot brushes. I watched the gradual rise in orders for these products and began to see there was a larger story at play. It offers an understanding 162 I BUSINESS TODAY I January 14 I 2018