Exploring the Trends, Technology, Marketing and Consumer Behavior in E-commerce landscape

Most of us like to shop. Isn’t it? In the age of online shopping hype and the emergence of new brands, it’s crucial to capture the vibe of today’s consumer. Today, we’re joined by a successful individual who has managed to tap into the trends and vibes of women in the ecommerce realm.

Ms. Esha Tiwary, founder and CEO of Furrl – a special shopping app that focuses on vibes first. It helps users find the trendiest new brands that suit their style and offers a smooth, easy shopping experience all within the Furrl app.  “I think the generational change in terms of how consumer behaviour is changing, really hit me. I’m an avid online shopper myself. And that’s how Furrl happened” says Esha. Let’s know more about this vibrant entrepreneur and how she recognized the challenge of evolving consumer behaviour and aims to revolutionise global e-commerce.

Here are the edited excerpts from the interview with Esha Tiwary of Furrl:

From what I understand, Furrl is akin to Spotify but for e-commerce. Can you tell us quickly about Furrl and why should our audience listen to this podcast? 

Furrl is the proprietary discovery engine for new age brands. If you’re a woman trying to discover the right brand for you and don’t know where to go, just download the Furrl app. Men looking to gift their partners can also give our app a try.

What has your journey been like, transitioning from a CFO at a hospital to a Director at Myntra, to a venture capitalist, and now an entrepreneur? Additionally, can you elaborate on the importance of Furrl for young people and the exciting new era of shopping emerging in India?

Throughout my career, I’ve been drawn to zero-to-one journeys, relishing the chaos of early-stage ventures where everything is uncertain. Whether it was launching new businesses at Myntra or investing in startups as a VC partner, I thrived in the fast-paced world of entrepreneurship. However, after working with 42 startups as a VC, I realised my passion lies in being an operator. The shift in consumer behaviour, particularly in online shopping, resonated with me deeply, leading to the creation of Furrl.

What does FURL mean?

FURL is directionally about unfurling your vibe. I think Furrl reflects the significant shift in Indian online consumer behaviour, particularly among the top 20%, who now seek to express their unique identities. They don’t want to be wearing the same Zara and H&M t-shirt as their neighbour.

How has the shift in women’s shopping habits, particularly the increase from 10% to 40% in e-commerce usage, come about? Is it driven by India’s economic growth, or are young women simply preferring online shopping and mobile usage over traditional mall visits?

Over the past four years, there’s been a significant transformation, particularly in women’s online shopping habits, with their representation increasing from 10% to 40%. This shift is fueled by digital acceleration, which was further boosted by COVID, making India one of the few countries where digital adoption remained strong post-pandemic. Additionally, the rising percentage of working women has led to increased purchasing power and exposure to online platforms like Instagram, driving a desire for self-expression not only in fashion but also in home decor. This desire to stand out and influence others has sparked the formation of new communities centred around unique identities and interests, facilitated by platforms like Instagram.

These evolving behaviours have given rise to a new era of marketing, where sharing and influencing play crucial roles. Platforms like Furrl, focusing on new-age brands primarily for women, serve as hubs for discovering and sharing unique products. Women today are eager to share their purchases with friends, leading to the creation of communities and viral marketing campaigns. This marks a significant shift in consumer behaviour and signifies the emergence of a new marketing generation driven by shared experiences and unique expressions.

How has your marketing journey evolved from your role at a physical hospital, to setting up online shops at Myntra, to managing a network based fund, and how does Furrl approach new age marketing, especially with terms like “hashtag vibe”, to attract and engage your target audience of women who are active on platforms like Instagram and YouTube?

The marketing landscape has undergone a massive shift from traditional methods like billboards and TV advertisements to digital platforms like Instagram. This transformation is driven by changes in consumer demographics and behaviour, with credibility now being built through social proof rather than celebrity endorsements or flashy advertising. For founders like me, the key is to sell before building, understanding the customer’s needs deeply through consumer research. Furrl, as a tech software product, emerged from four months of intensive research into how modern women shop, focusing on the demand for unique, new-age brands in a market flooded with options. The rise of homegrown brands and entrepreneurs, propelled by the shift to online shopping, underscores the importance of platforms like Furrl in helping consumers discover and support these emerging brands.

Are these hashtags related to specific brands or themes, such as “#DesiDrama,” “#Coordcult,” and “#Boss lady,” or do they reflect the diverse interests and identities of modern consumers?

Through our initial research, we discovered that modern consumers prefer to discover products thematically, based on specific needs or occasions, such as a flowy dress for a brunch date or sustainable clothing for their child. This insight led to the development of “vibes” on Furrl, where users can search and explore products based on relevant hashtags reflecting their desired themes. 

The Furrl commerce experience is personalised, with a feed customised to each customer’s preferences and curated brands accordingly. With over 100 homegrown brands and 11,000 products, Furrl ensures quality-tested offerings and secure payments, addressing the trust and convenience concerns often associated with smaller brands. Additionally, Furrl’s streamlined onboarding process enables new brands to join the platform quickly, fostering a supportive ecosystem for both customers and brands alike.

How does Furrl curate its 100 brands, and what is the process for becoming a Furrl partner? Do you visit their factories or homes to check materials and assist with logistics, and how do you guide them through the process?

Furrl collaborates with brands demonstrating a base level of professionalism, typically operating with a  website like Shopify and fulfilling a minimum number of orders independently, indicating GST compliance and basic operational processes. Emphasising quality and scalability, Furrl evaluates uniqueness and ensures brands can support customers effectively. Physical product checks and thorough online content analysis ensure brand integrity. Each brand undergoes a contract agreement, guaranteeing customer satisfaction with a no-questions-asked return policy for defects. With Furrl’s rapid growth, brands must scale alongside, with success stories showcasing significant order increases, exemplifying the platform’s transformative impact on business growth.

Why is that? Is the significant business growth primarily attributed to Furrl’s customer acquisition efforts, or is it the platform’s marketing strategies that brands find appealing?

Furrl provides brands with access to their ideal customers through detailed profiling and algorithm-driven matching, leading to improved conversions and customer satisfaction.

Does your ethos, centred around a customer-centric approach, extend to your partners as well, ensuring they maintain the same level of quality and service standards despite being a tech platform without physical presence?

As a tech platform without physical presence, our challenge lies in effectively supporting homegrown brands as they navigate through scaling and professionalisation. While automation initially seemed sufficient, our growth revealed the need for hands-on guidance to ensure adherence to processes and SOPs. Despite lacking warehouses, we’ve established a dedicated team to assist brands in meeting customer commitments, recognizing that consumer expectations remain paramount. We proactively plan with brands, addressing inventory and unforeseen circumstances, to uphold service standards amidst personal challenges. This endeavour reflects our mission to revolutionise ecommerce in India, recognizing the evolving consumer landscape and the unique needs of emerging brands.

Given the exponential growth in the number of brands, currently estimated at 100,000 and continuously growing, what can be observed about the diversity and characteristics of these brands, particularly in terms of the entrepreneurs behind them and the range of products they offer? 

The spectrum of brands on Furrl spans across various categories including fashion, lifestyle, home decor, food and beverage, consumer durables, and electronics, covering a wide range of products from accessories to electronics. Many of these brands are driven by content and heavily rely on platforms like Instagram for sales, which can be risky due to algorithm changes and high dependency. 

What makes Furrl appealing to such brands?

Brands appreciate Furrl for offering an alternative that reduces dependency on a single platform and provides a seamless experience for both customers and sellers. Through advanced product features, Furrl seamlessly integrates content from various brand websites, enhancing the overall shopping experience on the app.

How do you view the concerns of traditional brands entering e-commerce platforms regarding their margins, especially considering the varying experiences of different brands, some finding success while others struggle?

Smaller brands, especially those we collaborate with, often face tight cash flows, making margin protection a significant concern. The high cost of doing business on traditional e-commerce platforms further exacerbates this issue, squeezing the brand’s margins. However, as a tech platform, we’ve engineered solutions to reduce our operational costs by 10 to 20%, aiming to transform e-commerce into a profitable venture. Additionally, many brands require support in structuring their pricing strategies effectively. Our role extends beyond mere facilitation; we provide guidance and coaching to these young entrepreneurs, leveraging our experience to optimise their business operations. This collaborative approach ensures that both parties benefit from the partnership, acknowledging the costs and challenges involved in driving customers to their products.

Do brands understand the value of the customer outreach you provide, considering it’s a mutual cost? And when onboarding with Furrl, do they sometimes struggle with the commitment, opting out after a trial period, or do they pay for technology upfront or is it through profit sharing?

Furrl offers significant advantages to homegrown brands, alleviating many of their common concerns. With our tech platform, brands don’t need to dedicate resources to inventory management or pricing adjustments, as everything is automated. This streamlined process lowers their operational costs. Additionally, Furrl handles customer acquisition, logistics, and customer support, freeing up the brand to focus solely on creating high-quality products. Unlike other platforms, the cost of joining Furrl is not prohibitive, making it a more accessible option for small brands. Overall, Furrl provides a supportive environment for brands to thrive and grow without the usual challenges associated with e-commerce platforms.

Is it intentional that there’s no specific brand prioritised at the top of your website, allowing users to freely browse and select what they like?

Yes, exactly. You choose the theme or vibe, and you’ll see items tailored to your preferences.

Are Cozy Corner, Luxury Edit, and Six Yard Story, the brands featured on Furrl? If so, do they have to pay to be included in these sections?

They are brands and they don’t have to pay for this. These sections are personalised based on the browsing and shopping history of users.

Do you emphasise the significance of content in today’s era, as you often mention? And would you agree that on a brand’s website, content plays a crucial role beyond just facilitating purchases?

Yes, absolutely. We focus on providing comprehensive information to customers beyond just product details. Each product page features the brand’s story, offering insights into its origin, craftsmanship, and uniqueness. For instance, we showcase brands like one producing macrame decor, crafted in a small village with 40 artisans in Muzaffarpur. This approach aims to transform how customers perceive brands and their products.

How do you discover brands and convince them to join Furrl? Appreciate the marketing effort!

Marketing is a dynamic field that requires constant adaptation to meet evolving consumer needs. Despite initial struggles, we’ve scaled significantly, with customers often expressing surprise at the uniqueness of brands on Furrl. Staying attuned to changing consumer trends is paramount in this ever-evolving landscape.

How do you plan to expand Furrl’s brand portfolio from 100 to 200 or 300?

Currently, we are adding approximately 25 brands per month, but our aim is to accelerate this growth. Over the next three months, we expect to achieve a 3x increase in revenue, driven by both existing and new brands joining our platform. By the end of the year, we aim to double this growth rate. It’s an ambitious plan for the year ahead.

Do brands pay for the technology upfront, or is there a revenue-sharing model in place when they join your platform?

Brands on Furrl only participate in a revenue-sharing model, paying based on each order. There are no upfront costs for onboarding, and the process takes just 30 minutes, which is unprecedented in the industry.

How does Furrl’s emphasis on content and streamlined onboarding process attract brands who may already have their own e-commerce sites?

Furrl’s ability to match the right customers with the right brands through personalised content and customised experiences has significantly boosted order volumes for brands, sometimes tripling their previous monthly orders. This success stems from the platform’s focus on tailored recommendations based on individual preferences – vibes and hashtags, ensuring a higher likelihood of conversion for each customer segment.

Do you handle the photography for the curated products featured on Furrl?

Not actually. The brands I collaborate with prioritise content, enabling me to operate swiftly. Leveraging our advanced software product, which integrates seamlessly with Shopify platforms, all content showcased on Furrl is extracted from the brands’ platforms.The entire customer journey, from payment to order tracking, happens within the app, ensuring security with convenient payment gateways like UPI and credit cards.

What does Furrl have for men? And do you think men would move to such shopping?

Although some men shop online, many still prefer window shopping or making impulse purchases. And they are yet to catch the vibe!  

We offer a variety of unisex products, including hand block print shirts, home decor items, wallets, mugs, and sneakers. Our focus this year is to expand our offerings for men and children. Additionally, we are considering expanding internationally due to growing interest from neighbouring regions for Indian-style products. The quality of our homegrown brands is comparable to international standards, and India’s e-commerce sector is rapidly growing, with more brands emerging than abroad.

As someone with a marketing background, how did you find managing the technological aspects of building this platform?

Before starting Furrl, I had a couple of exposures including being involved in D2C Venture Capital in India, where I learned a lot about AI and biotech. I developed a strong interest in the scale that technology enables. That’s why it was crucial for me to build disruptive technology for Furrl, allowing us to quickly onboard brands and attract customers. We currently have a team of 25 people and are looking to fill six positions in performance marketing, senior software development, finance management, and more. As we continue to grow, our focus remains on providing curated and personalised products through our product-based e-commerce platform, emphasising search over discovery.

How do you manage the various roles of being a mother, wife, and entrepreneur?

Entrepreneurship is all-consuming, particularly when you are very ambitious and passionate about doing something big, revolutionary, life changing and want to leave behind your legacy. Balancing everything can be tough and unrealistic. Having a supportive ecosystem therefore becomes very crucial in India, whether it’s the people you work with, your family, or an understanding spouse.

Despite not having an entrepreneurial background, you possess all the qualities of a successful entrepreneur. How did this come about?

The combination of influences from my parents, my own determination, and the support from my husband and son have all contributed to shaping me into the entrepreneur I am today.

How do you want to spend your leisure time, do you prefer reading books, watching movies, or listening to music?

I used to read fiction, like Agatha Christie novels, but now I’m drawn to books such as “The Hard Thing About Hard Things” by Ben Horowitz, which are insightful because they shed light on the challenges faced by founders and entrepreneurs. It’s reassuring to know that others have encountered similar struggles on their journey, making the path of entrepreneurship feel less solitary. Additionally, I enjoy exploring new indie music on Spotify. Since Furrl is often compared to Spotify for ecommerce, it inspires me to brainstorm ways to enhance our product. It’s fascinating to see how technology is democratising various industries and shining a spotlight on emerging musicians, artists, and brands.