We at Shreyas Webmedia Solutions (SWS) thank Mr. Rishab Jalan (RJ), CEO & Co-founder, Last Journey, for this exclusive interview opportunity. RJ discusses various aspects such as the company prospects, market trends in the India, the role of digitalization in the funeral service market and many more.
Let’s know more about his success story and his vision
SWS: What exactly is deathcare, and how did Last Journey come into being? What was the thought?
RJ: The death care industry includes companies and organizations that provide services related to death: funerals, cremation or burial, memorials, etc. India’s death care industry has been under unorganized players for the longest time, making it highly fragmented. The inception of Last Journey was with the mission to revolutionize the Indian deathcare market by establishing an organized structure so mourning families can grieve in solace without worrying about the arrangements. By taking things online and integrating them seamlessly with a robust network of vendors, Last Journey has optimally streamlined operations with the end goal of serving people.
SWS: How prevalent are deathcare and organized funeral services across western countries?
RJ: The U.S. funeral services industry includes nearly 20,000 different establishments that generate about $16 billion in revenue annually, and the industry is as old as the 18th Century. Countries like the US, France, Germany, Netherlands, Spain, Sweden, Finland, Australia, and New Zealand have the most evolved deathcare infrastructure. Their thought process of bidding a memorable farewell to their loved ones and embracing the eventuality of life has propelled this industry to grow in their society.
SWS: How mature is the Indian market compared to the rest of the world regarding understanding how deathcare works?
RJ: Indians are neither aloof nor foreign to the idea of organized deathcare and funerals. Ancient Indian civilization has been practicing this, but with Last Journey, we are giving this old concept a new way to reach the masses. Spreading awareness among people about how deathcare works and the availability of such services is critical, so they know whom to reach out to at the time of need. The industry in India is currently at a nascent stage; the future of India’s Death Care holds excellent growth potential but requires spreading awareness among people on a vast scale. Currently, the industry stands at just over USD 3.5 billion in India, which is a long way from USD 0.98 billion back in 2008.
SWS: What is the solution that Last Journey offers, and how is it different from other players in the market?
RJ: We are a one-stop solution for deathcare and funeral services; from a mortuary ambulance to the repatriation of the mortal remains, cremations, and prayer meeting organizing, we take care of everything. People find it challenging to overcome the loss of a loved one, so we provide dedicated counseling services through certified mental health experts. At Last Journey, we understand that our beloved pets are also our family, and hence for them, we have Pet Cremations. We differentiate ourselves from other players in the market across various aspects; in addition to cremations, we do funeral ceremonies, prayer meeting arrangements, and funeral decor, among a host of other services. Since it is a compassionate business, we have established a robust and standardized vendor management network, resulting in smooth operations.
SWS: What contribution have you made to the industry?
RJ: Our primary contribution has been giving the Indian deathcare industry a digital reboot by taking things online, which has increased awareness about death literacy and the availability of such services so that people can make informed decisions at the time of need. We have set up a standardized mechanism to assimilate the elements of this industry, which for the longest time were controlled by unorganized entities.
SWS: How has the market evolved over the past couple of years? What are the trends that you’ve seen in the market?
RJ: This market in India has picked up and made promising progress over the years; today the Indian deathcare market stands at around USD 3.5 billion, which compared to USD 0.98 billion in 2008, shows significant improvement, but it is still at a very nascent stage. With the influx of other tech-enabled private players in this space, this space can witness multifold growth. Key trends in this market have been and will continue to be sustainable funeral practices and the emergence of funeral e-commerce. The concept of pre-planning funerals has also taken up speed among Indians, giving people a sense of empowerment for being able to design their last journey and how they wish their farewell.
SWS: How is digitization shaping the deathcare and funeral service market?
RJ: The new frontier of deathcare and funeral services in India is being shaped in a much more structured way. Primarily, through digitization, the propagation of death literacy and awareness of organized funeral services has increased. Taking things online is just a portion of digitally rebooting this space; on the company’s side, vendor management becomes much easier when tech is applied within the organization. On the part of the customers, booking cremation grounds and prayer halls or just arranging other things becomes more accessible.
The absence of such convenience could be felt starkly during the covid-19 pandemic, where families could not get a place to perform the last rites; in many cases, cremation grounds were overbooked, pandits unavailable, and mortal remains were left stranded. With tech-enabled machinery to streamline and organize, such cases are now easily avoidable.
SWS: Can you elaborate on some sustainable cremation practices that Last Journey undertakes?
RJ: In the wake of India’s vision to become a more carbon neutral and eco-friendly nation, the practice of sustainable funerals have become quite popular. Owing to this, Last Journey is apart from the usual wood-fire pyre used for cremations, and Last Journey also provides electric cremation and pyres that are made of cow dung. Recently, Last Journey has also started a campaign – #LifeAfterLife wherein we plant a tree for every cremation we do and give the coordinates of that tree to the deceased’s family.
SWS: Where do you position yourself in the next three years?
RJ: We want to sail our growth across multiple channels and become one of the most accessible entities when it comes to deathcare and funeral services in India. From uplifting the funeral infrastructure through private crematoriums and establishing a network that expands internationally so people can also avail of our services across countries.
SWS: How much has your business grown over the past couple of years? How has the journey been so far?
RJ: Last Journey has been growing at a CAGR of 40% and this growth is fueled by technology along with networking resources. In the past financial year i.e., FY 2021-2022; we have served 4-5 thousand cases in Bangalore; 7-8 thousand in Delhi; 3-4 thousand in Mumbai; and 3-4 thousand in Hyderabad. Other cities such as Chennai, Indore, Dehradun, Pune, Rishikesh, Ahmedabad, and Lucknow have accounted for over 7-8 thousand cases. Last Journey started with a small team of just five people and today we have over 100+ employees across India and twenty-five certified vendors that enable our mechanism to flow smoothly.
The major learning for us has been that to bring about a change and revolutionize an industry, persistence is the key. It is through persistence that one can drive their morale and bring implement strategies that garner sizable results.