Indian e-commerce market is doing good as indicated by
number of new startups coming up in niche categories. The latest entrant is
Bulbtiger which intends to be the largest vertical player in online retailing
of lighting products. The company is focusing on new home buyer or someone who
is looking to refurbish his home. As economy grows, no. of consumers looking to
spend on home décor will increase. The purchases for these products are
discretionary and very involved as these are long term investments. To capture
demand for such involved purchases, it is important to have dedicated platform
to customize your offerings per customer need. We had the opportunity to
discuss with Vikas Agarwal and Shashank
Jain founders of Bulbtiger about
their journey so far. Read on to know what they have to say about Bulbtiger.
What is Bulbtiger and
what is your vision?
Bulbtiger is India’s first online shopping destination for
lights and electrical products. This is a very niche and fragmented category
with no established pan-India organized retailer. This is a niche in which the
consumer seeks a very wide variety of choice, way more than a physical retailer
can possibly offer (primarily due to high inventory holding costs, low demand
in a local market). But it is not an easy niche to build a supply chain for and
that is the primary challenge that Bulbtiger is trying to solve. With niche
category, there is an also an opportunity to stand out and establish yourself
as a category leader.
Who are all founders
and why have you folks moved from your lucrative careers and start something on
selling lightings online?
Bulbtiger team is currently 10 members and is looking to
expand to 15 members by end of year as it expands its operations into new
product categories and business verticals. The Company is co-founded by Vikas
Agarwal and Shashank Jain who are alumnus of IIT Delhi and IIM Ahmedabad. The
duo laid the foundation of their dream company in late 2011 with a vision of
changing the way these products are bought in India. Earlier, Vikas worked at leading private
equity funds whereas Shashank worked at leading e-commerce companies like Dell
and e-Bay after a successful 2 year stint at Schlumberger.
How are you competing
with other lights selling online retailers? Is it price?
Our core value proposition is the widest variety and
top-level quality service assurance. We are price competitive but we do not
sell below our cost prices to increase our sales turnover or just to gain new
customers. Being a small team, our overheads are low and it also allows us to
quickly test and implement new ideas. We are comfortable with our steady but
profitable growth.
What is the overall
response?
Our traction has been satisfactory so far but it is better
than expected considering that it is extremely niche category and most of sales
were driven by organic traffic. To increase traction and sales volume, we are
now improving our SEO, leveraging market places and price comparison sites to
acquire new customers at minimal cost.
What is the strategy
going forward?
We want to establish Bulbtiger as a leading lighting brand
in the country as it is important to create a distinct positioning in the mind
of the user and build a strong connect. Current focus is on further expanding
Bulbtiger product range as we have not even fully covered consumer product
range yet. Expansion plans include launching commercial lighting products, a
new niche website in related home improvement categories such as bath fittings,
home furnishings etc.