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markt.ooo: An Online Opportunity For Offline Sellers

What a week this was! Five days of what felt like a never-ending online bonanza. If you’re like us we’re certain you would have been glued to your PC or mobile phone trying to shop till you drop! Interestingly, every year the numbers reach a new high — Flipkart claimed to have sold products worth Rs 1,400 crore, twice more than what it sold in a single day last year and which is more than the entire modern trade retail industry’s single day sales. Not just that, every year there seem to be many more buyers moving online with current numbers being pegged at nearly 100 million (10 crore) shoppers.

So, while many online sellers hit record numbers every year, what of our beloved offline retail stores? According to market estimates, India’s fast growing retail market is now estimated at close to $625 billion of which only $15 billion is e-commerce, however, the impact of the fast-paced shifts from offline to online commerce, are increasingly making it tough for small retailers to compete.

It’s high time that the next door retailer becomes tech-savvy and creates a business model that will allow him to offer the same convenience to us as the consumers as online does.

“While the numbers for online commerce seem minimal compared to the overall retail market, make no mistake that the retail stores and small business owners are already facing the impact of this fast-paced shift towards online buying. Electronics as a category is most impacted followed closely by fashion, a category which will be next in line to feel the impact.” says Anurag Singh, Co-Founder, markt.ooo — a platform that enables retail stores and small businesses for e-commerce.

Come to think of it, an offline store that makes its products available online can offer great benefits that can sometimes be unmatched by online. For instance, if you wanted to pick a quick gift for a party you have to attend this evening, it could be delivered to your doorstep in under 90 minutes. Imagine what it would be like when the sales season comes — no one likes the crazy queues, but everyone wants to shop from their favorite stores — we know we’d love to be able to shop from the hundreds of stores that are on sale from the comfort of our home all in one place!

An e-commerce start-up in 2016? Isn’t it too late!

E-commerce has evolved to new heights in past six years, showcasing new achievements along the way. But it’s just the beginning — at least so seem to think the folks at markt.ooo. There were three things that made them create something new for this market — first, with e-commerce booming there was a looming threat to retailers and small entrepreneurs who did not have any means to participate in online business — solutions were either too complex or commercially unfeasible. Second, by 2015, the e-commerce market had actually become a mobile first m-commerce market, but none of the marketplaces were utilizing the inherent features of mobile devices — especially none to make things easier for sellers; and third, all the players who focused on local retail were too focused on delivery and grocery and thus neglected other products that too had an urgent need to participate in online commerce. Moreover, there was no ‘marketplace’ where local buyers and sellers could meet and transact.

An opportunity 

Looking at these gaps, markt.ooo created a product that makes it super easy for retailers and small businesses to take their in-store products online. “When we spoke with our target sellers they all came up with a similar set of challenges that were deterrents to them going online. One, there was the cataloging problem, and two, it was not just difficult to sign up to existing online marketplaces but also commercially unfeasible because of high margin charges,” says Singh.

Sanjeev Tagra, Co-Founder & Tech Lead at markt.ooo adds “If you have an existing Facebook page, our mobile app allows you to setup an online store in 30 seconds and have you ready to sell with a product catalog in minutes. And when we say minutes we literally mean minutes”. Users can setup the store, upload products right from their phone, collect payments via all leading online banks and also get delivery support. We at iGrow wanted to be sure of this claim of minutes so we decided to give it a shot – and we kid you not we were able to get our store online in exactly under three minutes. We also got a custom domain http://markt.ooo/igrow and can now use this to promote our store across facebook etc. The app also allowed us to share Product Cards from the app to Whats App, Facebook and Instagram – these cards included the product details with images MRP, description etc. and we didn’t have to do a thing except post it.

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What was also interesting was that markt.ooo’s shopfront operates as a zero-commission marketplace. The founders tell us that a commission based approach was simply unfeasible for many categories like Electronics. They instead have an interesting business model where they charge a store for every successful order they give — Singh says “We essentially see this as a convenience fee paid by the store for the ease with which they got an order, and hence this allows us to offer a fully success based fee approach that really works for store owners”.

Class apart?

The market is full of marketplaces it would seem, but interestingly there are over 14 million retail outlets in India – but most leading marketplaces have enabled only a few hundred thousand sellers. That leaves a huge number of sellers still unexplored. Moreover, none of these marketplaces are designed for retailers and small business owners.

It, therefore, makes it an interesting play for markt.ooo. Tagra does caution that “Execution will be key. There are other players in the similar space and the only thing that can set apart one from the other is execution. We’re just a few months old but are already getting some good inputs. But we’ll be keeping our heads down and executing”. We think they have made a good start and with the easy signup and the zero-commission marketplace approach they should etch out a space for their product among a large number of still to go online businesses.

In time we also see this platform bring an ease of buying for consumers that has so far not  been offered.

While the e-commerce market will continue to flourish with products and platforms like this offline sellers no longer need to be threatened by online commerce and instead can capitalise on the opportunity.

How do I sign up – Is there a criteria?

“The only restriction”, quips Tagra, “is that you should have a physical establishment i.e. a retail store or a home-based small business.” At present, markt.ooo is operating in Gurgaon, they plan to expand this to Delhi/NCR so sellers from these markets are alone being on-boarded currently. To know more about them visit markt.ooo from a PC, the same link will take you to the shopfront from a mobile device.

Download the Play Store App here.

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iGrow Reviews: Kazo Autumn Collection 2013

Kazo, a brand which defines fashion for youth, has launched its Autumn Collection 2013. The collection looks inspired by travelers, bikers and adventure loving people and has been interestingly designed for fashionistas. An amalgamation that only is possible with Kazo. Walk into one of the stores and nobody will move out empty hands, it has something for everybody.

The lookbook is a perfect mix of solid colours, prints, graphics and amazingly designed jewellery and handbags. The collection includes Flowery Prints, Graphic Mania, Bikie Chic, Melange Story, Animal Print, Mexi Dress and Surf Web. Continue reading iGrow Reviews: Kazo Autumn Collection 2013

eBay opens 2nd development centre; to hire 700 employees

One of the first few entrants in the Indian e-commerce arena, eBay, opens its second development centre at Bangalore and 16th globally. Spread across 1,50,000 sq ft, the development centre is expected to hire 700 employees over the time span of three years.

The development centre is looked at tapping the pool of software engineers in the country, which will be a critical driver for the company in long run.

The centre will employee people under eBay as well as PayPal, a fully-owned subsidary of the e-comm player. The first centre is in Chennai, spread across 2,50,000 sq ft with 2,000 employees working.

’10 Must Haves’ this weekend – Gadget Special (Week 4)

This week’s post is dedicated to the gadget freaks who love technology. We bring to you some latest launch and must have in your kitty.

Hope you enjoy the post: Continue reading ’10 Must Haves’ this weekend – Gadget Special (Week 4)

Art-ticklers

Art-ticklers is going to be a new feature on iGrow where we would get to know about a person who is passionate about any form of art and has been able to successfully turn his/her passion into a profession.’Creativepreneur‘ is the term we would also like to associate with them. You can be an painter, fashion designer, sculptor, jewellery designer, shoe/bag designer, baker, chef…..or someone offering unique services (stylist, makeup artist…..) the list is endless.

 I am sure that you all have at some point or the other come across a bright, young, enthusiastic, individual full of zeal and drive who is living his/her dream. We at iGrow would love to feature you and know your growth story.

We have a criteria for selecting these Art-ticklers:

  • Young & started out in the last 5 years
  • Different from the league ( some thing unique about your products)
  • Have an interesting story to share
  • All categories are welcome
  • Pictures ( we love them!)

So drop in your stories along with your picture ( yes ….you the entrepreneur) & the picture of your products or services and we shall be happy to feature you. Mail us at editorigrow@gmail.com.

 

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iGrow recomends: Must visit exhibitions this September!!

 

With the festive season round the corner each city in India  gears up to host a series of events & exhibitions.  From fashion & lifestyle, to jewellery, to home decor,  and not to miss the ever so popular Bridal fests. The lifestyle expos exhibit numerous upcoming as well as established fashion & lifestyle designers. ( visit these to update your wardrobe, for the latest accessories, gift solutions … or to just have a look at the pretty things)

Other than these we have the always popular (among the city’s young girls & brides to be) the Wedding exhibitions. These are a must visit for any bridezilla offering a wide variety of products ( designer wedding outfits , invites, decor artists, gifts, photographers….list is endless) vendors, service providers all under one roof. So what are you waiting for?? Give these exhibitions a must visit!! iGrow brings to you the must visit exhibition list…aaah the love for retail.

 

List of Exhibitions 2013 

3 Sep: London Market, Welcome Sheraton Hotel, Saket

4-5 Sep: Women Shopping Carnival, Hotel Tuli, Nagpur

4-5 Sep: Jalsa, The Ashok, New Delhi

6-8 Sep: Wedding Asia, The Ashok, New Delhi

6-8 Sep: Timeless Jewels, Hyatt Regency, New Delhi

6-7 Sep: Boutiques of India, Hotel Clark Awadh, Lucknow

13-15 Sep: Times Gehena, YMCA Club,Ahemdabad

13-15 Sep: Wedding Asia, Hotel Sayaji, Indore

14-15 Sep: Celebrating Vivaha, Gurgaon

14-15 Sep: Grand Asian Wedding Week, Hotel JW Marriot, Chandigarh

17-18 Sep: Bridal Affair, Hotel Ramada, Jalandhar 

26 Sep: Sajja , Mumbai

28-30 Sep: Jewellery Wonder, New Delhi

Do write in if there are more exhibitions you would like us to list here at iGrow.

 

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Now buy more than railway tickets at IRCTC; launches e-store

We all have had our tough times with booking online at IRCTC but now they ensure you effective shopping experience with their newly launched site Shop.irctc.co.in. The operations will be done under the company name Shop Online Trading Pvt Ltd (SOTPL).

It was previously reported that IRCTC selected Yebhi to become the white label solution provider for its online retail programme. Interestingly, that is why the website design and model is almost the replica of Yebhi’s. Infact, the payment will also be done via pay.yebhi.com.

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With this IRCTC will be leveraging its 2 crore registered users at the ticket booking site. It will be selling apparels, accessories, mobiles & tablets etc. It boasts of offering more than 30,000 products from more than 500 brands.

Consumers can avail free shipping for orders above Rs 500 while an extra cost of Rs 75 will be charged on orders below that. All major modes of payments are adopted including COD (which is limited to certain pin-codes).

Tying up with Yebhi will be a positive step for IRCTC and will ensure a smooth functioning of the operations. What would be interesting to know will be that the success of shopping portal will also result in a positive consumer impact on IRCTC ticket booking.

’10 Must Haves’ this weekend (Week 1)

This is a new initiative started by iGrow. From here onwards we shall bring you the ’10 Must Haves’ that will help you plan your shopping during the weekend. This will include products as well as services which you could savour.

So here is this weekend’s list: Continue reading ’10 Must Haves’ this weekend (Week 1)

Brand Licensing: MBE launches range of interactive toys starring Disney’s Planes characters

As Disney brings to India the adventurous 3D animated comedy, Planes, MBE (My Baby Excel) in collaboration with Thinkway Toys launches the interactive range of toys and plush of the movie characters starring Dusty, Ripslinger and El Chupacabra.

All the toys are suitable for kids – 4 years and above and are available across leading stores including Hamley’s, Landmark, Shopper Stop, Lifestyle among others. Moreover, you can also find on e-commerce websites like Flipkart.com.

Planes Toy Range

Continue reading Brand Licensing: MBE launches range of interactive toys starring Disney’s Planes characters

Now buy fish supplies online with FishSpot.in

So you love fishes? Have them in your home but face a challenge to get them the right supplies? Well you now have a solution- you can buy all fish supplies at the recently launched online store, FishSpot.in.

Launched by PetsGlam Services, also the makers of DogSpot.in, the site will offer information on fishes and house supplies for fishes including fish food, aquariums, aquarium decorations, filters and heaters among others. It will cater to both marine water and fresh water aquarium owners. There are nearly 700 products listed on the site which are expected to reach 1700 in next two months.

In order to offer a gamut of product, the e-retailer has partnered with various global brands including Fluval and also has tie-ups with more than 25 brands like Sera, RS Electrical, Rid-All, JBJ, Aqua Plantasy, Tokyu, Aquaone, Sharp, Marina and Living World among others. It claims to currently offer more than 700 fish and reptile products on the site and hopes to increase it to 1,7000 in the next two months.

Going further more pet categories will be explored including cats and birds.