Made for India: 3 startup trends I expect to see in 2017

23 February 2017

To be a successful start-up this year in India, organisations must design business models that reflect this specific market. This article predicts three start-up trends in India in 2017. The key focus for this year should be customer service, as the best way to attract consumers in the Indian market this year is through pricing, convenience, product innovation and service. The first trend prediction is the increasing demand for branded fresh foods. Unbranded fresh food products make it difficult for consumers to know the quality, freshness, pesticide use, transportation, nutritional value or the right price of the product. For the majority of Indian consumers, that means having to rely on colour and firmness of fruit and vegetables to determine their quality or freshness. Indian consumers are therefore forced to choose vendors based on proximity, advice or tradition. Having brands can give consumers confidence and trust in the product as it promises quality and consistency. Start-ups can offer branded fresh food products, which can also give a competitive advantage due to the lack of competitive brands in the market. Although it will take time to create trust in a brand, it also provides opportunities as the younger millennial generation in India is moving away from tradition in preference of price, quality and convenience.

The second start-up trend is the growing popularity of subscription businesses in India. In 2017, subscription businesses will need to compete on business models as they become more popular as a means of purchasing goods in India. The biggest emphasis in subscription businesses this year will be the billing function. Companies will need to adapt to best price points, offer introductory or referral discounts, save billing information securely and implement recurring billing without repeated permission from customers. Non-subscription businesses should also be considering implementing this feature to improve their competitive advantage. The third start-up trend is the increasing demand for original video content. With internet connectivity, quality content, content delivery networks and better understanding of device characteristics, on-demand video is set to increase greatly this year. As this happens, the demand for original content will also increase, meaning that streaming businesses will need a continuous flow of content specifically targeted at local audiences. This means that they will need support from other companies to enable continuous streaming of content. Businesses such as Netflix or Amazon will need help to adapt their content’s language and storylines to an Indian audience, which will provide opportunities for local talent. These three trends are important to take into consideration and adapt to for any start-up business in the Indian market this year.

Read the full article on the Tech in Asia website

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