Acquisition project | Indifeet
Product | Indifeet - Women Footwear Brand
Elevator Pitch: Indifeet is a women footwear brand offering high-quality and fashionable footwear for those seeking comfort at their doorstep. Committed to sustainability and cruelty-free practices, we cater to every occasion, ensuring that fashion meets ethical choices that empower our customers to invest in their style without compromise.
Core Value Proposition
Brand's core value proposition is to sell women footwear with luxurious comfort and unique designs for customers who value convenience.
- Conscious Comfort - Indifeet is committed to offer a curated collection of fashionable women footwear who prioritize fashion and comfort at a conscious price of sustainability
- Modern Fashion - Our core focus lies in combining style and affordability ensuring that our customers can step confidently into the world of fashion
- Holistic Variety - We achieve this by meticulously selecting materials, optimizing our supply chain and leveraging our design expertise to provide holistic and comfortable options
Products Offered by Indifeet
Our target is mid segment women footwear with pricing ranging between INR 1000 to INR 3000; What sets us apart from our competitors is that we provide all categories of women footwear that adds in comfort and covers target audience of all adult age bracket. Currently we offer major categories under women footwear like:
- Flats - This category covers options for all occasions such as casual, everyday, party, evening, semi-formal etc. One can find variety of sole options as per their comfort ranging from TPR, PU, Cork, Rubber etc.
- Heels - This category is filled with variety such as Platform heels, Flatform heels, Kitten Heels, Block Heels and Basic comfort heel. In this category we cover our women from everyday to party, ethnic to casuals.
- Clogs - While this category is largely dominated by Crocs, we have introduced Indian made Clogs available in vibrant colors and sizes all at an affordable pricing. This has been the most loved category by our customers across platforms and has received positive feedback. From basic casual look to chunky clogs in multiple color options and charms.
- Ballerinas - From mesh to fabric, chunky formals to rubber casuals we offer ballerinas of all kinds to cover all target audiences.
- Juttis - We have a variety of juttis/ mojaris made available from handcrafted artisans of Punjab for our customers. These are made available in vibrant colors to make any evening for our women colorful
- Sliders & Flip Flops - A perfect match to any loungewear for women, our rubber Sliders and Flip Flops are available in various designs and pastel shades to match any outfit.
- Sneakers - We had introduced chunky sneakers in the past and right now working on some artistic digitally printed sneakers which are in the making for launch.
Online Presence of Indifeet
Indifeet is providing women footwear across categories and occasions currently selling through online channels such as company's website and marketplaces to name a few Amazon, Flipkart and Ajio. They deal with SKU bundle of 100+ products available in different colors and sizes. Brand's website is available on mobile and desktop web.
Google search on the brand is optimized with the website link directly. There are no sponsored ads being run on the brand. Here is the screenshot of web search on desktop.
On search of brand's review and user feedback, reviews were mainly posted on marketplaces like Amazon and Flipkart. As the brand is in early stages, count of reviews on Amazon is limited however out of 88 products listed on Amazon, 31 products have reviews of 4 star and above.
One of the top selling product had the following review on Amazon:
Indifeet also has good presence on Flipkart. Overall seller rating of Indifeet on Flipkart is 4.6. Here is the screenshot:
Understanding Users
Here are the insights from interactions done with Indifeet customers who have purchased product in the past from our website. Overall feedback from our existing set of customers is aligned with the core value proposition. With additional categories we are able to attract larger audiences and give them exclusive collection.
User Profile
User Name | GX Member | Top Insights | Age | Gender | City | Type of User | Living Situation | Occupation | Trigger to Usage | Web Experience | Natural Frequency | Source of Awareness |
Hema Chakrabarthy | No | Brand loyalist and loves to buy from Indian Brands; Positive feedback so can push to share her experience with her friend circle | 30-35 | Female | Bangalore | Married | Lives with her Husband | HR Manager at Brigade Enterprises | Organic google search on Indian Brands for women footwear | Easy to use; Visually Appealing; Satisfactory | Once in 6 months | Google Search |
Jesusya | No | Active on social media and has trusted the brand through Ads to make a decision to buy the product; She liked other collection as well so can explore to target her and circle of influence through paid ads | 18-25 | Female | Mangalore | Single | Lives with her parents | Social Media Executer | Paid Ads - Visited our website using Instagram Ads. Action to click was triggered by the marketing pitch and ad creative | Good; Intuitive; Visually Appealing; Satisfactory | Once in 6 months | |
Pranjal Pathak | No | Found us on Marketplace and took the effort to search our website; She is an influencer as she convinced 2 other friends to buy; Overall positive feedback so can work on referral strategy | 18-25 | Female | Delhi | Single | Lives with her parents | MBA Student | Through marketplace, visited our website to use the Notify me feature for out of stock products | Good; Easy to Use; Needs Improvement | Once in 6 months | Marketplaces |
Sampath Ramanuja | No | Male who found our ads through Instagram and liked the product. He bought it for his wife first and then re-ordered for his mother. Eye-to detail person who remembered the design and color options for the footwear purchased | 30-35 | Male | Hyderabad | Married | Lives with his wife and mother | Not known | Ad creative and product features | Good; Satisfactory | Once in 6 months |
User Interaction
Date of User Call | Name of the User | Which Objective did you focus on? | What did you learn? | Call recording link |
24th October 2024 | Hema Chakrabarthy | Acquisition Strategy - Insight on website search | She got to know about our brand through Google and has ordered thrice since 1.5 years; She has been a loyalist to our brand and was very happy with the products offered as per her sizing/ color options and comfortable at affordable pricing; Next Steps - Would like to get her reviews on website and run referral strategy for her next buy as she intended to buy another footwear and capitalize the positive feedback | https://drive.google.com/file/d/1nt23fKyIdwtfwz6ZAn1n3aLLBVPBLaCe/view?usp=drive_link |
24th October 2024 | Jesusya | Acquisition Strategy - Insight on what helps user to convert | She came on our website through Instagram Ads and was happy with the customer buying experience on the website; She liked the product and was satisfied with the sizing. She also liked our overall collection and was attracted to other products. Next step is to run ads in the influence circle to monetize from such feedback | https://drive.google.com/file/d/1yJQpZwaHZajyIkaxihIZUOiv65uZx9Z7/view?usp=drive_link |
24th October 2024 | Pranjal Pathak | Acquisition Strategy - Specific insight on the landing page | She found us on Ajio and since the product was out of stock, she went to our website and used the Notify Me option to get a reminder; Once it was restocked, she had placed an order and also referred to her friends who have purchased as well from our website; Website buying experience was seamless; She had a feedback of more collection requirement in formal category | https://drive.google.com/file/d/16faDaWoignpq9lZ5rp_I6eoRq221WANk/view?usp=drive_link |
25th October 2024 | Sampath Ramanuja | Acquisition Strategy - Understanding the bragworthy proposition | He ordered feather from our website which he caught through Instagram Ads for his wife. He was quite impressed with the product and once he received it he reordered for his mother. He also demanded for similar products more on our website. Very impressed with the comfort of the product. | https://drive.google.com/file/d/19dBjKFpaeLcqqXcYePWnXWdYM__1Rrmr/view?usp=drive_link |
Ideal Customer Profile
Below is the ICP Prioritization Framework
Criteria | Adoption Rate | Appetite to pay | Frequency of Use Case | Distribution Channel | TAM |
Middle Aged Married Working Women - Hema Chakrabarthy | High | Medium | High | High | High |
Women early in their career in Tier 2 cities - Jesusya | Moderate | Medium | Low | Low | Medium |
Single young women about to start their career after pursuing higher education like MBA - Pranjal Pathak | High | Medium | Medium | High | High |
Males looking to buy for their partner/ mother - Sampath Ramanuja | Moderate | Medium | Medium | High | High |
From the above table, based on the adoption Rate, Appetite to Pay, and distribution potential, we can narrow it down to 2 ICPs -
- ICP 1 - Middle Aged Married Working Women
- For this ICP, comfort and convenience is the key. They value money and do not intend to spend recklessly but understand the clear difference between highly expensive branded products vs products priced premium for the value it offers.
- These women are not looking for trending fast fashion but are looking for elegant designs and focus more on functionality of the product
- They value time and effort in the midst of their hustle bustle of managing work and family. Hence they prefer buying online
- ICP 2 - Single young women about to start their career after pursuing higher education like MBA
- For this ICP, they are looking for some unique designs which makes them stand out in their new corporate career. They look for something that adds to your confidence as they start a new job
- These women look for comfort as it is a matter of being a part of new social circle at work. This can be a factor for them to create the right first impression to their new colleagues
- These women are willing to shell out extra than their regular budget as these are the first time buy for a new job so buying anything in the range of INR 2000 to INR 3000/- as they are starting a new job with income levels of INR 12LPA+ (Tier 1 City with Masters degree)
Basis the shortlisted ICP, here is the detailed profiling of these customers:
Criteria | ICP 1 - Middle Aged Married Working Women | ICP 2 - Single young women about to start their career after pursuing higher education like MBA |
Name | Hema Chakrabarthy | Pranjal Pathak |
Age | 35 | 22 |
Demographics | Female; Working HR Manager; Lives in Bangalore; | Female; MBA Student and Working; Income 12LPA+; Lives in Delhi |
Need | Comfortable Slippers for Casual wear | Formal footwear for new job in office |
Pain Point | Looking for comfort and also not compromising on the fashionable look; She has a small size wherein she always struggles to find unique designs and color options available! Also what is available in market in her size is very expensive in exclusive brands! | No unique footwear available to match with all her formal wear; Gives her a unique identity in office to build her confidence |
Solution | Feather Collection on Indifeet | Formal collection from Indifeet |
Behaviour | Very Active in her social circle of friends - Kitty Parties, Social Events etc.; Values convenience and quality over quick fashion trends; Very active on various groups on Facebook. Not a very brand conscious due to social circle influence and believes in trying out new brands and products. | Looking for quality in value spent; Very Active on social Media mainly Instagram; Has a close net of friends who she takes advice on for all her prompt buys; Values sustainability; daily commute to office; |
Perceived Value of Brand | Feather collection promising all what she is looking for in a product; Minimal handwork with comfortable sole; | Indian sustainable brand which prompts her with comfortable footwear and amazing product pictures |
Marketing Pitch | From your daily chores to active social circle meets, our feather collection is a perfect blend to your attire without compromising on the comfort that it provides. | Must haves in your wardrobe for your daily office commute; Chunky sole Moccasins which will stand you apart from the crowd and build your confidence when you walk in that meeting room!! |
Goals | Website purchase | ​Action to visit website's formal collection |
Frequency of use case | 6 months to 1 year | 6 months to 1 year |
Average Spend on the product | INR 2000/-​ | INR 2500/-​ |
Value Accessibility to product | Feather collection is available in neutral shades of brown and grey blending with any attire for middle aged women; Easy returns and exchange | Free shipping and 7 day exchange/ return with no questions asked; Enter your pin code to find out the delivery timeline; |
Value Experience of the product | Light weight product with comfortable fit; Truly worth the money spent​ | Moccasins available in neutral beige, all black and brown color which will blend with all her formal outfits; Product is worth the money as it is comfortable and fashionable |
Understanding the Market
As evaluated from extensive search on google and various articles, here are the top 3 competitors of Indifeet
- CAI Store
- Monrow
- Chere
Here is the detailed understanding of these competitors:
Factors | Indifeet | CAI | Monrow | Chere |
What is the core problem being solved by them? | Curated collection of ethical footwear across categories with focus on comfort and pricing | Non leather footwear to the trend conscious at affordable pricing | Vegan fashionable footwear which provides comfort | Fashionable footwear |
What are the products/features/services being offered? | Collection varies from flats, heels, wedges, ballerinas, moccasins, juttis, flip flops, clogs, sneakers all available in multiple colors and inclusive sizes. | Their collection ranges from open and closed flats to heels and wedges, sneakers, bags, loafers and boots | They are available in sneakers, wedges, ballerinas, heels and boots | They are available in heels, flats, wedges and sandals |
Who are the users? | All adult females anywhere between the age of 18 to 65; | Young and middle aged females between the age of 18 to 45; | Their products are inclined towards young and bold females between the age of 18 to 35; | Young and middle aged females between the age of 18 to 45; |
GTM Strategy | Conscious buyers looking for comfort at affordable pricing | Conscious buyers looking for comfort at reasonable pricing | All kinds of fashion footwear for women at reasonable pricing | Fashion-forward footwear and bags |
What channels do they use? | Website; Marketplaces - Amazon, Flipkart, Ajio. Plans to get listed on Nykka and Myntra | Website; Marketplaces - Amazon, Flipkart, Myntra; Retail Stores in Mumbai, Ahmedabad and Delhi | Website; Marketplaces - Amazon, Flipkart, Myntra; Tied up with retail stores in 9 cities | Website; Flagship store in Vapi Gujrat; Tied up with Shoppers Stop; Marketplaces - Amazon, Flipkart, Ajio, Tatacliq etc. |
What pricing model do they operate on? | Mid segment women footwear ranging between INR 1000 to INR 2500 | Mid segment women footwear ranging between INR 1000 to INR 4000 | Mid segment women footwear ranging between INR 1000 to INR 3000 | Mid segment women footwear ranging between INR 1000 to INR 4000 |
How have they raised funding? | Bootstrapped with no external funding. | Influencer Masoom Minawala has invested in CAI which is a strategic investment - 16L | Has raised $2.31M in 3 rounds. . | No data available as yet; However there are investment pitches available online for 1Cr. |
Brand Positioning | Brand is positioned to provide all the women footwear needs with comfort and convenience. Stands by the ethical choices of sustainability and conscious mindset. | Brand is positioned for conscious buyers looking for trending fashionable footwear; Also their retail stores presence is increasing thereby reaching out to audiences offline to spread brand awareness | Brand is positioned around Founder Veena Ashiya targeting customers looking for comfort and fashion. They have spread across country by tying up with retail stores and also strategic partnership with Shoppers Stop Online | Brand is positioned to meet the gap of mid segment fashionable footwear without compromise on quality and comfort at an affordable pricing |
What is your product’s Right to Win? | We want to target all age brackets women adults by giving products with comfort and quality. | Their focus is on trendy footwear which is attracted by young women; | Their footwear designs are very similar and with a unique fashion statement; May not fit into all kinds of user categories; | Their designs are inclined towards fashion more than comfort features which are not being displayed on their products |
What can you learn from them? | Strategic growth and first mover advantage in fashionable footwear; | Strategic growth and balance of online and offline presence of their brand. | ​Luxurious presence of the brand and images |
Market Size
TAM (Total Addressable Market)
To arrive at TAM for Indifeet, we have taken a top down approach with some statistical data available online.
Step 1 - To estimate the overall total potential customers:
- Footwear Industry Size - As of March 2024, the overall Footwear Market Size was $28.2B.
- Potential Users - Out of the total Industry size, women segment is attributed to 42% of this market size and balance is shared between Men and Children which narrows down the market potential to $11.84B
Step 2 - Define Potential Customer Segment - Our target will be currently limited to only online distribution as we do not have any retail store presence
- Distribution Channel - Footwear industry historically has been an offline market where users prefer to go to a shop, feel and wear the product before buying. However post covid and with growing ecommerce market places there is a change in trend of buying footwear online. With the ease of easy returns and exchange available customers are preferring online buying of footwear however there is a lot to penetrate. Currently it is estimated that 80% of the industry relies on offline channel and 20% is through online which is expected to grow at a CAGR of 19% until 2030. Considering these facts, Indifeet can target the online mode of sale of footwear toning down the applicable market size to $2.36B.
- Footwear Category - Footwear industry is broadly categorized into Boots, Business and Formal, Gym and Training, Running, Sandals and Sneakers. Sandals are open-toe footwear providing breathability and comfort in warm weather, including casual flip-flops, elegant strappy sandals, and supportive walking sandals suitable for everyday wear and special occasions. Indifeet is largely categorized under Sandals category which is 30% of the total revenue bringing down the TAM to $0.71B.
- Pricing Segment - Indifeet is mainly targeting mid segment footwear which is priced between INR 1000 to INR 3000; Largely footwear industry is currently skewed towards mass category, then economy followed by mid segment and balance is Luxury. Mid Segment today attributes to 15% of the overall bucket which will further tone down TAM to be $106M.
- Hence the overall TAM for Indifeet will be $106M
SAM (Serviceable Addressable Market)
SAM is the portion of the TAM that Indifeet can realistically serve, considering its target market segment. Considering there are key market players available in this segment like Clarks, Mochi, Metro, Hushpuppies, Bata; New age brands will contribute to 15% of the TAM making SAM achievable by Indifeet to be $16M
SOM (Serviceable Obtainable Market)
SOM is the portion of SAM that Indifeet can realistically capture, considering competition. Let's say we would like to target 35% market share in SAM which will make SOM for Indifeet to be $5.6M i.e. INR 47Cr (annually)
Designing Acquisition Channel
Channel Selection Framework
Here is the analysis of channel selection for Indifeet
Channel Name | Cost | Flexibility | Effort | Speed | Scale | Budget |
Organic | ​Low | High | High | Slow | High | Medium |
Paid Ads | Medium | High | Medium | Medium | High | Medium |
Referral Program | Low | High | High | Slow | Low | Low |
Product Integration | High | Low | High | Slow | Low | High |
Content Loops | Low | High | Medium | Medium | Medium | Medium |
Since Indifeet is in the early scaling stage, we need to experiment with channels that are working well and then double them. In the early stage, focus will be on low cost, easy to scale and high flexibility. Basis these factors we have shortlisted Organic and Paid Ads as the 2 acquisition channel
Organic Search
Indifeet is currently not indexed for any keywords. So the approach is to add keywords which have low difficulty and high monthly search volume. All the keywords linked to one product are being added in the "Title Tag" to rank better on SERP. Combination of Head Keywords and Long Tail Keywords are being added. We are ensuring that no similar set of Keywords are being targeted across different product pages.
Keyword Research and Understanding ICP
On keyword research on SemRush below are the list of identified Prime Keywords with high monthly volume search and low difficulty
Keyword | Type of search | Search volume (avg monthly) | Difficulty to rank on SEO | Avg cost per click | Product Page Title Tag added on Indifeet Website |
Soft Home Slippers for Ladies | Use case | 4400 | 21 | INR 1.68 | Best Soft Home Slippers for Ladies - Comfort You Deserve |
Black formal shoes for women | Use case | 9900 | 19 | INR 2.52 | Stylish Black Formal Shoes for Women - Comfort Meets Elegance |
White flats for women | Use case | 4400 | 19 | INR 3.35 | White Flats for Women - Stylish Comfort for Your Everyday Look! |
Womens casual flats​ | Use case | 4400 | 29 | INR 1.68 | Buy Womens Casual Flats for your Next Outing! |
Ethnic Heels | Use case | 1900 | 10 | INR 3.35 | Bestseller ethnic heels with ultimate comfort - Indifeet |
Heel sandals for girls | Use case | 90500 | 37 | INR 2.51 | Heel sandals for girls​ with premium materials and comfort - Indifeet |
Doctor Slippers for Ladies | Competitor | 5400 | 23 | INR .84 | Find the Best Doctor Slippers for Ladies - Comfort Meets Care |
Below are few of the screenshots taken from SemRush for the same set of keywords
Apart from Title Tags, our approach for future optimization will be as per the below strategy:
- Improvise Meta Descriptions in all product pages
- Add Keywords on Filter pages related to Color and Category of Footwear e.g. Peach Flats, Gold Heels etc.
- Improvise content on product pages i.e. to add more quality content keeping in mind SEO and keywords relevance
- Continue writing blogs every month targeting keywords related to Footwear Industry and Fashion world
- Post optimizing webpages, we will focus on Technical Audit
Paid Ads
Lifetime Value of Indifeet Customers
LTV for our customers will be as follows:
Average Order Value X Frequency X Retention
INR 1500 x 2times per Year X 2 years = INR 6000
CAC (Google Ads) = Total Money Spent/ Number of customers acquired
CAC = 50000/ 50 = INR 1000 (Indifeet has currently not run ads on Google, these numbers are hypothetical)
CAC to LTV ratio will be 1000 : 6000 = 1 : 6
Ideal ICP and Advertising Channels identified for Paid Ads
Indifeet can target ICP 1 - Middle Aged Married Working Women with Google Ads; As this ICP is high-intent users searching for solutions on search engine. They rely on search of organic brands on Google independently. They are usually busy catching up with schedule of work and household and would prefer searching for instant results on Google with less attention span.
Marketing Pitch for ICP 1 - Let us help you get some weights off your shoulder by adding Feather to your feet! Try our Feather collection which is the right blend of comfort and elegance for all day wear.
Here is the Google Ad Execution:
https://nordicclick.com/resources/google-ads-preview-tool?id=rofdWlZPRhlu
CAC (Meta Ads) = Total Money Spent/ Number of customers acquired
CAC = 83000/ 200 = INR 415
CAC to LTV ratio will be 415 : 6000 = 1 : 14.45
Indifeet can target ICP 2 - Single young women about to start their career after pursuing higher education like MBA with Meta Ads; As this ICP is very active on social media and spend time on Instagram. They have high influence with visual appearance and hence Ad creatives are very important factor. They are usually looking for unique products which will add on to their fashion statement.
Marketing Pitch for ICP 2 - Walk in your next meeting room with confidence that uplifts you! Premium Shoes that work as hard as you. Upgrade your wardrobe and break the stereotypes of uncomfortable formal footwear! Carrousel Ad Creatives to be run on Meta as follows:
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