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.