MMA Global India successfully concluded its highly anticipated MMA IMPACT India 2023, a remarkable marketing conference held at the Taj City Centre, Gurugram. The event brought together some of India’s brightest marketing minds, offering an immersive experience through captivating panel discussions and esteemed delegates. Notable figures, including Ghazal Alagh- Co-Founder & Chief Innovations Officer of Honasa Consumer Ltd (Mamaearth, The Derma Co. & Ayuga); Varun Alagh- Co-founder & CEO of Honasa Consumer Ltd; Shireesh Joshi- Chief Business Officer of Open Network for Digital Commerce (ONDC); Amit Jain- MMA India Board Chair; Chairman, L’Oréal India shared their insights, contributing to the resounding success of the conference.
A significant highlight of the event was the unveiling of the report titled ‘ONDC Advantage X toolkit – an initiative by MMA and GroupM- GTM Guide to digitise & democratise for commerce-led growth,’ authored by Ghazal Alagh, and Shireesh Joshi. The report launch addressed the transformative potential of the ONDC initiative in democratising e-commerce in India. Alagh expressed her appreciation for the collaborative efforts made by MMA Global in developing a rich and actionable toolkit that addresses the challenges and scale of the ONDC framework, enabling businesses to navigate this journey effectively.
Furthermore, a panel discussion held in partnership with GroupM shed light on the digital economy’s remarkable growth in India, driven by factors such as increased internet penetration, smartphone adoption, and digital literacy, innovation, and government initiatives. The discussion revolved around the ONDC Advantage X toolkit, serving as a comprehensive go-to-market guide for businesses seeking to leverage the ONDC initiative. Panelists, including industry leaders like Naman Mawandia, Ritika Taneja, Shireesh Joshi, Varadharajan Ragunathan, and Moneka Khurana provided valuable insights on how brands and sellers can leverage the ONDC Network to enhance their businesses. Ruhail Amin, Senior Editor at BW Businessworld and Exchange4Media moderated the session.
Moneka Khurana highlighted the findings of a primary study conducted by MMA Global, revealing that 90% of industry participants expressed interest in exploring the ONDC initiative. The study also indicated that 73% of respondents viewed ONDC as a level playing field between large brands and SMEs, presenting numerous opportunities. Additionally, 41% of participants believed that ONDC would disrupt the digital payments category. The playbook presented at the conference serves as an ecosystem effort to accelerate the adoption of ONDC and provide a comprehensive understanding of its potential.
Ritika Taneja discussed the challenges faced by brands regarding ONDC adoption, including decoding its implications and operational challenges such as brand safety and payment reconciliation. She emphasized that the playbook covers best practices, success factors, and important considerations, offering a roadmap for businesses to thrive within the ONDC framework.
Shireesh Joshi highlighted the efforts made to make the ONDC toolkit easily accessible and understandable, with the conversion of the handbook into a series of videos known as the ONDC Academy. He also emphasised that the network is created by businesses, for businesses, and aims to gather insights and experiences from large businesses involved in e-commerce and digitization.
Naman Mawandia discussed the significant opportunities presented by ONDC, including the potential for exponential growth in the digitization of commerce in India. He highlighted the potential for a 300 billion dollar increase in incremental GDP if the share of digital commerce rose from the current 5% to 25%.
Varadharajan Ragunathan emphasized that ONDC has the potential to address the limitations of customer acquisition and build trust by unbundling the value chain. ONDC opens doors to a broader customer base by expanding beyond English-speaking urban customers.
The conclusion of MMA IMPACT India 2023 marks a significant milestone in the marketing industry, as it provides an enriching platform for knowledge sharing and collaboration among industry leaders. The conference has undoubtedly made a lasting impact by showcasing the transformative potential of the ONDC initiative and equipping businesses with the necessary tools to thrive in the evolving digital commerce landscape.
