Pricing Strategy Of Nykaa – Winner Or Loser In Online Space

Abstract

Nykaa obsession with perfection drives Nykaa success in online space. Digital marketing contributes most to Nykaa success in online space. Nykaa seamless online shopping experience derives high conversion rates. Nykaa continues to thrive in online space offering diverse range of wellness and beauty products. The dedication and strategic vision of Falguni Nayar have been instrumental in solidifying Nykaa position as a leading player in online space. Falguni Nayar has received numerous awards and recognition for her remarkable achievements in online space in wellness and beauty sector. Robust management information system tracked by well-defined principles and procedure are the important reasons for its success in online space in wellness and beauty sector. As result of its customer friendly pricing strategy, Nykaa has emerged as a successful leading player in online space. Nykaa keeps coming with new pricing strategies to launch its product in online space. Nykaa success in online space is testament to the vision and determination of Falguni Nayar. Falguni Nayar embraces challenges and opportunities to grow and evolve in online space in wellness and beauty sector. 
The objective of this paper is to explore the intriguing features of pricing strategy of Nykaa in online space in wellness and beauty sector. Data has been collected from 201 respondents and then analysed using statistical tools. The descriptive research design has been applied. Statistical tools have been used to interpret the data and to draw meaningful conclusions. Quantitative research has been implemented to test about people’s attitude and characteristics based on number and logic. A convenient sampling technique has been used to collect primary data from the respondents belonging to different region of India. Primary data obtained from the respondents have been presented in the form of graphs, charts, and tables. Descriptive analysis has been used for data analysis. Majority of respondents (53.2%) agree with the pricing range of Nykaa in online space. Majority of the respondents (76.1%) consider price as the main reason for their use of Nykaa 
product in online space. Majority of the respondents (84.1%) believe that the price of Nykaa product is the most important element to increase the customer satisfaction level in online space. The customers belonging to different age groups believe that price of Nykaa product is the most important increase the customer satisfaction level in online space. The customers belonging to different income level believe that the price of Nykaa products is the most important element to increase the customer satisfaction level in online space. The customers belonging to different gender believe that the price of Nykaa products is the most important element to increase the customer satisfaction level in online space.