Learnings and achievements from 2023; Inspiration for 2024
Two trends in the D2C – consumer electronics industry in India which I believe will become mainstream in 2024. Generative AI and implementation across all lifestyle tech products including content creators who will now get even more flexibility to create cutting edge communication for their own user base.
Nu Republic continues to partner with content creators to make compelling communication for our users. Smart Glasses: The Ray Ban Meta Glasses offers a peek into the feature of this exciting new technology which will revolutionize the way content creators, users in general interact and consume social media.
We are seeing a large swathe of customers moving upwards in their consumption journey towards premiumisation. We will see a positive impact of this in the coming quarters. We at Nu Republic are well poised to tap into this growth with a range of premium wear-tech products in our portfolio.
My year-end analysis of 2023: Because of its overdependence on outsourcing, distant manufacturing, and reduced number of suppliers, consumer electronics supply chains have been experiencing difficulties for some time, primarily due to geopolitical issues. This poses a major concern for electronic brands which are dependent on imports of components.
Success stories from 2023: In 2023, we saw a massive push from Quick Commerce, which has helped our brand reach more customers through this platform. In the world of instant gratification, quick commerce has helped ensure supply meets demand faster and more efficiently. In the year 2023 these platforms expanded to more categories and helped fuel Nu Republic’s reach to many more customers.
Learnings and realizations from 2023: The fast paced competitive environment of the Wear-tech industry ensures that one is extremely vigilant about the latest trends and impact on product development lifecycles. Personally this leads to a much fulfilled life of constant learning and adventure, at the forefront of consumer tech.
2023 highlights and takeaways: Nu Republic had a massive 2023. We collaborated with power couple Farhan Akhtar and Shibani Akhtar which enabled us to create a new set of users, and disproportionately increased the reach of the brand.
One learning from this campaign is that the results of marketing efforts in such multi year endorsements are multifold, if the values of brand and endorsing celebrities are in perfect alignment – just like what happened in our case. Nu Republic operates at a cross section of music, culture and tech, and Farhan Akhtar and Shibani Akhtar who have created a indelible mark in the field of music and entertainment.
Looking at 2024: We are expecting to launch a range of products which transcend across established borders of use-cases, much like how watches have now become pseudo health devices. This will happen in-categories like rings, lockets, glasses and so on.
Some advice: I remain positive for all peers and welcome newbies into the industry. I believe there is a space for any brand which has a well defined target audience, a founder/team which has relentless passion to stay true to their vision and create a relevant impact for the desired target audience.
My Mantra for 2024: “Spend each day trying to be a little wiser than you were when you wake up.” – Charlie Munger. The quote encapsulates the idea that every day offers an opportunity for self-improvement.
My personal favorites from 2023
Campaign I liked in 2023: #nucodeofcool by Nu Republic in collaboration with Farhan Akhtar and Shibani Akhtar. The reason is that this campaign offers a very refreshed look at wear-tech as a fashion accessory and form of fashion and self expression.
A book I liked in 2023: I recently read ‘Think Again’ by Adam Grant – which is an amazing read. He offers lessons of how staying stationary in our thinking will stunt your growth of knowledge. I will recommend this book to anyone who is looking for an edge to develop their own personality.
A show/movie that I liked in 2023: I am a big fan of Joe Rogan’s work and absolutely loved the episode JRE Episode #1169 featuring Elon Musk. The freewheeling chat is mesmerizing seeing two sharp minds discussing everything under the sun. Elon Musk’s ability to turn whimsical ideas into successful ventures showcases his determination, innovative thinking, and entrepreneurial spirit.
My 2023 hobby-career connection: Music and reading are my go to hobbies and they have had a direct impact on my career. Nu Republic, the brand I founded, makes cutting edge wear-tech and audio products which stems from my need to make products which makes music we hear look as good as it sounds. My other hobby reading (specifically self development books) has helped me in my entrepreneurial journey.
