Every once in a while there comes a point in the life of every human being that changes everything around him. Financial year 2018 has gone down in the history as that phase in the life of everyone involved in something as audacious as Arzooo.com. The founders who dared and the people who believed, gave up their well paying corporate jobs and joined hands to build e-commerce 3.0
During first quarter of ’17-18, team Arzooo spent time giving shape to our vision of changing the e-commerce landscape in India. We are putting the power back in the hand of consumers with platform that allows online shoppers to bring down prices on high value purchases.
By the beginning of second quarter, we launched services in Bangalore with a fabulous start to the platform. We got our first customer in first week of going live with a ticket size that no consumer Internet platform in India would have had for its first sale.
Dr. Abhishek Raj, a dermatologist by profession bought an LG side by side Fridge on Arzooo.com for Rs 72000. Of course, he saved Rs 6000 on Arzooo.com compared to a popular e-commerce website, but we are indebted to him for trusting our new platform.
But the story doesn’t end there. After we delivered his fridge, he got back to us within a week with a shopping list for his newly built house. A list that included three Air-conditioners, an Advanced Water purifier and a high-end Coffee Machine and range of Kitchen Appliances. We delivered him the range of products worth Rs 3 Lacs.
Our first transaction was a fair validation of our belief that if you build a model for customers and deliver a superior service, your customers will come back for more. As we saw after nine operational months we have about a quarter of our customers coming back to us to buy their next Home Appliances, which is a great repeat purchase no. for a low-frequency category like Home Electronics.
Three quarters swiftly passed by, while we kept building and augmenting India’s first demand-driven e-commerce model. We saved big bucks for thousands of online shoppers on Arzooo.com beating prices on all popular e-commerce websites. It is this aspect of our platform that our customers love the most, apart from the fact that they can demand anything electronics including products that are not available on any other online platform
The most exciting part of this 3-Quarter journey was our first festive season of October-November. Diwali is a holy shopping event for consumers in India and a mega sale event for the whole ecosystem of manufacturers, retailers, and traders. In recent years it has escalated to an extent, where e-commerce companies are trying to knock each other out of the rink by luring shoppers with big discounts.
It got even more exciting this year when a lot of smart shoppers started coming to Arzooo.com to better their offerings than what they were getting on other e-commerce websites. To our own surprise, we were beating the best offers on Flipkart and Amazon saving hundreds of shoppers thousands of rupees on their online shopping. That is when we realized the massive potential that India’s consumer market has.
The trajectory since the Launch of Arzooo.com has been phenomenal. We have been exceeding all our targets every month. Over these 3-Quarters we have acquired over 1500 high-value customers
Ticket size :
Average value that each customer spent on Arzooo.com for each transaction has been hovering between Rs 22000 to 25000. Even though we have a wide product range in Sub-Rs 10000 segment, it is the higher ticket items that get more love from online shoppers.
Repeat buying :
About 23% of our customers coming back to us over a period of 9 months to buy other products, has taken us by surprise. These are the people who saved money on our platform in their first purchase and they are coming to us for anything electronics. This no. is amazingly healthy by any e-commerce standard.
Popular Categories :
TV has been the ruling category. Though other Home Appliances categories such Washing Machines, Refrigerators and Air-conditioners remain as popular, small Home Appliances and Kitchen appliances including water purifier and Chimney is getting fair traction.
What Lies Ahead (FY 2019) for Arzooo.com
Arzooo.com has received phenomenal response from Online shoppers in Bangalore and we are glad to have saved them thousands of rupees. This encourages us to expand our services to other cities, add new categories and bring unprecedented product innovations in e-commerce space.
In the first quarter of this Financial year, we are entering Hyderabad and rest of the southern cities will follow soon. We aim to be present and serve online shoppers in Top 5 Indian cities by Diwali and top 10 cities by the end of this Financial Year. For this, we are gearing up by bringing right people onboard and adding product segments to fit different markets.
The way we approach this aspect of our platform is anything high value where every percent of penny spent by a shopper matters on his wallet. This means we are going to bring all high-value electronics, IT and Communication categories while evaluating other categories that fits in our model of saving shoppers’ additional money.
While growth will be our key focus this year, we are also going to bring some exciting tech innovations, that will not only speed up our growth but will also drive change in the e-commerce ecosystem overall. We will talk more about them as we bring them alive.
We promise to make online shopping in India consumer centric, where everything starts from a customer and not just ends at consumer.
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