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Beauty Brands On Nykaa Slash Prices To Attract Budget-Conscious Shoppers
Brands shift focus from advertising to discounts amid slowing demand and changing consumer behaviour.
Makeup-to-skincare retailer Nykaa has seen more brands opting for larger self-funded discounts on its platform, in an effort to attract shoppers mindful of inflation. With consumer demand subdued, brands on its platform are focusing on discounts instead of advertising to boost sales."Because of a muted demand environment, they [companies] have chosen to accelerate brand-funded discounts," said Anchit Nayar, chief executive officer of...
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