An Excerpt from the Interview What made you start your venture? Customer Problem
• Shopping online is mushrooming with many e-retailers; leading to lot of confusion of where to buy from?
• There is also huge price difference between offline stores and online stores mainly due to multiple intermediaries involved and overheads. • Not everyone has skills for Internet shopping
Market Opportunity • Total Retail market size is 560 Billion $ in India of which only 3.14 Billion $ is contributed by Online • Penetration of Internet in India is at 19 % with close to 243 million users; it is still slowest in Asia Pacific.
• Out of 243 Million Internet users only 3 million has shopped over Internet at least once • There is huge void in assisted shopping space in India. • The need for digital products in Tier-2 and Tier-3 cities is immense. The only way to tap is by becoming a part of their conversation.
What has been the key to your business’s success?
• Philosophy of sharing equally- with vendors, micro-entrepreneurs and our team • Our commitment of bringing digitization and low cost products to the masses
What are the major challenges in your line of business and how did/do you overcome them?
Reaching out to micro-entrepreneurs – We’re currently doing it through Government agencies, NGOs, Prominent individuals of the society.
Do you have a mentor who guides/advices you on matters of the business?
None specifically – but for some specific issues we seek help from start-up community in Bangalore and trading community in Mumbai.
Have you benefitted from the use of any specific technology for your regular operations?
Immensely. We try and automate most of our internal processes. We use Google drive offerings; we maintain most of our work on cloud. Now we’re teaching micro-entrepreneurs browse through our offerings, to order online and minimise phone calls.
What strategy do you follow for Customer Satisfaction & Expansion? We keep the conversations going. Presale-Post sale. As it’s a small community currently, we keep digging into their habits to know what influences the most.
What, according to you, are the top 3 skills needed to be a successful entrepreneur? Persistence, Patience and Positive attitude Visit the website: www.pricegravity.in Like them on Facebook: https://www.facebook.com/pricegravity