Indian Ayurveda is considered to be a system of medicine derived from ancient traditions. This involves both traditional medicines and health services. The origin of Ayurveda can be traced back to 5000 year old Indian Vedic teachings based on fundamental philosophies of life, disease and health. Ayurveda is considered one of the oldest health care systems around the world.
Over the millennia, Ayurveda has not only supported the changing outlook and demands for health services due to the invasion of modern treatment methods, but it has become famous all over the world.
“The Ayurveda market in India was valued at Rs 300 billion in 2018 and is expected to reach Rs 710.87 billion by 2024, expanding at a compound annual growth rate (CAGR) of approximately 16.06 %, over the forecast period (2019-2024),” according to a PR Newswire report.
In recent years, as a holistic healing system, Ayurveda has seen an evolution in the form of Ayurvedic products and services. A growing awareness of the importance of a healthy lifestyle, a growing preference for chemical-free natural products, as well as favorable government initiatives have led to the expansion of the Ayurveda market in India.
When it comes to Ayurvedic products, there is still confusion regarding the description and differentiation between Ayurvedic, natural, organic and herbal products. Although they are all largely part of the wellness industry, there are differences in their meaning and coverage. Some brands have tried to bring out the different elements of each.
However, among these brands, The Ayurveda Experience has managed to cover 360 degree solutions such as education, skin care, hair care, food, supplements and beverages all in one digital platform. . The brand has become a one-stop-shop for all of its consumer’s organic and Ayurvedic needs. The Ayurveda Experience is a brand house that offers multiple ways for people to experience Ayurveda. The brand has categorized its product into different categories such as iYURA, Varaasa, A.Modernica Naturalis, Ajara, Ayulica, and Ayuttva.
Rishabh Chopra, Founder and CEO of The Ayurveda Experience said, “If you are a purist and prefer classic products, we have a brand for you. If you prefer modern convenience and want to take advantage of modern scientific principles and modern product consumption formats, we have modern Ayurvedic brands for you. The one thing that is consistent among all the brands is TAE’s focus on supporting research, efficacy and ingredient authenticity through an enjoyable and artistic brand experience from each of its brands.
Ayurveda is an integral part of India’s heritage and from the start the company was committed to bringing the best of India to the world; be it art, mythology, philosophy or health and wellness, India’s history and culture has a lot to share with the world!
“Ayurveda has the potential to be the next great wellness movement after yoga. As the world continues to discover and experience the power of this science firsthand, more and more people will embrace this science of health and wellness in myriad forms, which is why we have brands and offerings in multiple categories such as skin care, personal wellness as well as food, beverages and supplements,” Chopra said.
When the company was founded, it was founded with the aim of bringing the best of India’s ideas to the rest of the world. The brand began by launching and marketing an introductory Ayurveda course in the United States and the overwhelming response to this encouraged The Ayurveda Experience to believe that Ayurveda was one of the most powerful ideas in the world. India which has a very real impact on health and wellbeing, and it needs to be spread around the world.
Chopra said, “Our journey on the way to making Ayurveda a household name around the world has begun. A few years after starting with educational courses in Ayurveda, we launched our flagship skincare brand in 2017 in the United States, Canada and Australia, and today, across multiple brands, The Ayurveda Experience is one of the largest Ayurveda platforms that cater to the United States. , Canada, Australia, New Zealand, Europe as well as our homeland India with over 5,00,000 customers across the globe.
“The Ayurveda Experience has grown as a global platform that offers everything Ayurveda, from science education to skin care, as well as wellness products in the category of foods, supplements and beverages with millions of visits to its websites each month,” he added.
Retail and Marketing Strategy
The fundamental objective of any brand behind the retail and marketing Brand strategies is to make people aware of the brand. These activities take the company’s sales and revenue to the next level. The Ayurveda Experience has always put the end consumer first and tailored its messages to resonate with its current and powerful consumers.
On the retail and marketing front, Chopra said, “Our strategy has always been to educate consumers about the science, ingredients, methods, etc., and then empower them to make an informed choice, throughout online marketing. Although our own website remains our largest sales channel with all our products available on our own website, a few products are also available on other websites such as Amazon and retail stores such as Le Marche.
Being an online brand from day one, scaling the business digitally has been a key factor in the very existence as well as the growth of The Ayurveda Experience.
Chopra said, “However, today we are considering more technology investments to create a more personalized and relevant customer experience for the future. We take authenticity very seriously and we carry out multiple checks on the raw material, the manufacturing processes as well as on the final result. Since we are a global brand and export a lot of products, we make sure that all of our products, in all geographies, have a high level of quality and would never hesitate to reject any batch that might be one notch below the standard we want, even organoleptically”.
“In addition to safety testing, our team of experts manually checks and observes each batch of herbs used as raw material. Only the batch that meets the high standards of organoleptic evaluation is then sent to a third-party laboratory to test several factors. such as water extraction value, alcohol extraction value, total ash value, acid insoluble ash value, foreign matter, volatile oil content, profile TLC, moisture content, TYC, TPC, ecoli, saureus, salmonella, heavy metals, etc,” he added.
Customer experiences and reviews
For any business to succeed and grow, customer feedback is essential. Ayurveda Experience continuously evaluates customer feedback and implements changes in necessary areas.
Chopra shared, “We have experiences where our consumers give us feedback and we are working on it. For example, customers prefer a certain type of pump over another – we take note of these specific expectations that arise at scale and implement them to ensure our customers’ ease and comfort. When it comes to products, we keep a constant eye on performance, whether it’s efficacy or aroma, and continually strive to improve products based on what our customers tell us.
“New product development is also deeply guided by customer experience and expectations, and direct and indirect feedback, as well as market data, are taken into account,” he noted.
The brand, with revenue of over Rs 100 crore in 2020-21, is planning to raise funds.
“We are steadily expanding into various geographies around the world and in the future, we plan to go omnichannel,” Chopra concluded.