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COVID-19 has changed the rules of the game for many industries. One that was hit quite hard and had to adapt to the new normal was the ed-tech industry - Adapt or perish. The ones that adapted, had to do so whilst ensuring quality education to children, especially pre-school children as well as give a sense of comfort to parents who have had to juggle working from home and keeping their child engaged. Here's how Flinto's hybrid approach worked
After 14 months of remote and hybrid learning, the inefficiencies in the education system have become even more apparent. As the crisis unfolded across the world, teachers in this environment faced unprecedented challenges. Beyond the technical issues, the absolute need for emotional learning remained an ongoing problem. Kids that were relational needed to have that level of communication – especially in pre-school, the primitive years for brain development in children. How can a teacher hold the attention span of toddlers, that too online, while also assuring parents their children are getting the level of education they require?
The $5 BN market in India, mostly dominated by unorganized players (80%) faced a tremendous supply shock, when they shut shop due to the inability to transition online and create spaces and opportunities for children to continue learning. Several players simply moved their classes online as was the practice for secondary and higher school education, little realizing kindergarten children had different needs. Language and behavioral development which is built on a foundation of early relationships and interactions between adults and children was compromised. For example, holding a crayon with a child goes away when teaching online. Educators and parents then become tasked on delivering the promise of quality in children’s early learning environment and experiences. They want to provide children with agility and flexibility to adapt to this new model.
The ones who adapted, overcame.
Flinto’s hybrid approach to education has always been unique. Starting out with the play-based model in their early years, they challenged century old structures to better design and deliver the kind of education to strengthen children’s brain development.
Early last year, they launched Flintoclass@Home to offer a hybrid model of offline and online learning that was conceptualized by experts in the early learning space. This was in anticipation of schools being shut down as the pandemic was declared. FlintoClass filled a major gap in the market by providing quality education delivered online in the safety of the child’s home, but with an important physical element of a monthly kit delivered to the doorstep that the child uses during the class for a holistic learning experience.
This new phygital model was a game changer and an instant hit with children and parents alike. With continued education being a need of the hour, Flinto’s renewal rate stands at 63%, a category leader. The model also incorporated the best international curriculum that cultivated children’s critical thinking skills though interactive and multi-sensory learning. This approach worked and was evidenced with a 13X growth in order value in just 9 months with orders from over 240 locations in India. Even this month, the revenue is up 38% MoM. This has been possible due to their data driven, asset light and scalable model which ensured school readiness at home even for parents. Work from Home has been challenging, especially for parents. With a dedicated counselor for parent’s support and dashboards to track success, parents were comfortable unpacking a comprehensive learning kit without compromising on quality education.
As Founder, Arunprasad mentioned in an interview, “Creating personalized, age-appropriate and well-researched products that the entire parent and teacher communities can bank on, to address the early needs of a child, makes Flinto unique and unparalleled”.
The commoditization of hardware is forcing a range of product-oriented businesses to revamp their business model to remain relevant. instead of selling the product, companies are offering the benefit to customers in other ways.
Your Product Is Your Business Model. Changes in one impact the other and in the best cases they play off each other.
Sid talks on growing businesses together and venturing into the unknown with various subscription models
That’s what Embibe taught me over the last four years, as an investor and advisor.
At long last, we decided we needed a new name. “Faasos” will remain the brand for our wraps and we will continue to put massive focus behind growing the brand. But we felt the company needed a name that would signify what we were doing as a team instead of being restricted to the name of one of our many brands. So, as of last week and much deliberation, we changed our company name to “Rebel Foods”.
Flinto is an early learning brand that uses psychologists-backed insights to design products for critical thinking, problem-solving, collaboration and teamwork. In other words, crucial 21st century life skills.
As the restrictions pullback these new consumer preferences will become apparent. In the short to medium term consumers will disproportionately value transparency and hygiene. However, companies looking for long term sustained differentiation should also develop their ability to differentiate based on sustainability and provenance.
Are private equity firms 2 faced? How does the financial service sector deal with challenges? Read on to find out:
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