Recently, we got a chance to talk to the owners of
BundleBaazi. In this conversation, we wanted to figure out
what makes them to venture into eCommerce landscape, about BundleBaazi – how it
works, and the overall outlook on the Indian online retail Industry. Here are
some of things that we discussed.
What is BundleBaazi
and what are the needs you are catering?
BundleBaazi is an online shopping website catering to the
needs of Indian customers. We have more than 200 brands and publishers in the
Baby Care, Mom Care, Beauty & Personal Care, Electronics, Mobile Phones,
Cameras, Gaming Consoles & Accessories, Books and Fashion Products. We
focus only in brands domestic & international with very high quality
products. We source our products directly from the manufacturers or through
their authorized channels.
The main objective of BundleBaazi is, however, to offer the
online shoppers a typical Indian neighborhood shopping experience where they
are offered a special price when they buy more at once. The more a customer
shops in a single purchase the better the price for their bundle of products.
When did BundleBaazi
start and what triggers you venture into eCommerce?
We did a beta launch in October 2011, and the mere fact that
the Indian eCommerce market is so huge makes it inherently attractive for venturing.
There are several challenges in the operating side that are yet to be solved
makes venturing into it even more satisfying. We are trying to bring bundling
to the Indian ecommerce market. Bundling is a powerful concept that lot of big
companies have used in B2B models. We have brought bundling in the B2C space
and although we have launched with products only but this would be later
expanded into services as well as online ticketing. Essentially, you can bundle
anything and get an appropriate price based on what you bundle.
What are your current
product lines and who are your potential customers?
As explained earlier, we have best known branded products in
our website catalog aiming to fulfill the needs of all Indian customers. We
have Baby Store, Mom Store, Beauty Store, Book Store, Electronics Store, and
Fashion Store currently.
Which all cities are
you servicing?
We are based out of New Delhi and we ship all over India.
Our customers are extremely satisfied with our approach of order fulfillment.
Are you adding any
more product lines in your business? If yes, when and what all?
We plan to add health care products and devices, apparels
for babies, kids, teens, men & women.
How is overall
business doing and what all challenges are you facing?
We are a start up in very early stages. The typical startup
challenges are there. We have been able to successfully establish our business
model and have been growing confidently. We have been serving customers for 3
quarters now, and growing in order volumes by more than 100% every quarter.
We have extremely high number of repeat orders and customers
keep on offering their feedback that they love shopping at BundleBaazi. We are
guided by our customer requests for adding products in our catalog, and aim to
become a one stop shop for all kinds of needs.
What do you think
about Indian Ecommerce Industry?
Indian eCommerce Industry is very interesting, lot of
players and lot of challenges to be solved. Already there are few really great
teams operating and building great companies in India. The industry is still in
its nascent stages and very few are exposed to the most important problems that
should be solved. Consolidation/ M&A are necessary for the industry but few
extremely huge exits will pump up the industry with fresh enthusiasm.
Funding?
We are self (family & friends) funded.
How is the business
doing and what are your plans going forward?
We plan to grow really aggressively. From our data, it
reflects that Indian customers really like our business model, and that also
shows in the way we have grown - we think that customers will support our
aggressive growth plans. However, a lot depends on funding. We want to add more
and more BundleBaazi stores and products in our website to become a one stop
shop for our customers.
Anything you want to
add?
BundleBaazi is a new approach to shopping online, and I
think every Indian will be able relate to our business model.