Capturing Consumption Rewriting Rules FutureBazaar
FutureBazaar <ul><li>Launched 26 th  January, 2007 </li></ul><ul><li>Winner – Best Shopping Site in India 2007 from PC Wor...
<ul><li>..let us  rewrite  the first rule…. </li></ul>
<ul><li>boring old </li></ul>rule number   one
<ul><li>… that   internet retailing   </li></ul><ul><li>is focused on   ‘ internet ’ …. </li></ul>
The Old Rule buying stuff  is one of the things that people who are going online  can be persuaded to do
The New Rule going online  is one of the things that people who are  buying stuff   can be persuaded to do
Corollary to the New Rule If people find stuff  worth buying , the   means   will follow
India  is different
Worldwide  <ul><li>Social need drives Internet adoption and usage </li></ul><ul><ul><li>MySpace, Chat, Blogging, Meetups, ...
In India <ul><li>Social use of the Internet is very small - the drivers that cause this kind of usage in American societie...
Large-format Retail Limitations <ul><li>Catchment areas large enough to support a large-format store </li></ul><ul><li>Lar...
The Essence of Internet Commerce <ul><li>“Virtual” Commerce deals with product information supply </li></ul><ul><ul><li>Pe...
Succeeding in E-Commerce in India <ul><li>Understand the customer base </li></ul><ul><li>Understand the drivers </li></ul>...
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Maruc Evans E Comm Jan 2008 Capturing Consumption Rewriting Rules

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Maruc Evans E Comm Jan 2008 Capturing Consumption Rewriting Rules

  1. 1. Capturing Consumption Rewriting Rules FutureBazaar
  2. 2. FutureBazaar <ul><li>Launched 26 th January, 2007 </li></ul><ul><li>Winner – Best Shopping Site in India 2007 from PC World </li></ul><ul><li>On track to becoming India’s largest e-commerce player in the first full year of operations </li></ul><ul><li>Success Mantra </li></ul>Capture Rewrite Rules Consumption
  3. 3. <ul><li>..let us rewrite the first rule…. </li></ul>
  4. 4. <ul><li>boring old </li></ul>rule number one
  5. 5. <ul><li>… that internet retailing </li></ul><ul><li>is focused on ‘ internet ’ …. </li></ul>
  6. 6. The Old Rule buying stuff is one of the things that people who are going online can be persuaded to do
  7. 7. The New Rule going online is one of the things that people who are buying stuff can be persuaded to do
  8. 8. Corollary to the New Rule If people find stuff worth buying , the means will follow
  9. 9. India is different
  10. 10. Worldwide <ul><li>Social need drives Internet adoption and usage </li></ul><ul><ul><li>MySpace, Chat, Blogging, Meetups, Dating </li></ul></ul><ul><li>Plays a role similar to a food court or a theatre in a mall - attracts traffic and footfalls that retail benefits from </li></ul><ul><li>Internet Retail there is a way to convert traffic to consumption demand </li></ul>
  11. 11. In India <ul><li>Social use of the Internet is very small - the drivers that cause this kind of usage in American societies are not present here </li></ul><ul><li>On the other hand, there’s huge untapped demand for consumption </li></ul><ul><li>Internet retail in India needs to convert consumption demand into traffic </li></ul>
  12. 12. Large-format Retail Limitations <ul><li>Catchment areas large enough to support a large-format store </li></ul><ul><li>Large single piece of real estate required in a suitable location </li></ul><ul><li>High marginal costs to starting an outlet </li></ul>Large format retail will leave large gaps in capturing consumption for years to come
  13. 13. The Essence of Internet Commerce <ul><li>“Virtual” Commerce deals with product information supply </li></ul><ul><ul><li>People make purchasing decisions based on product information </li></ul></ul><ul><ul><li>Product is delivered after purchase </li></ul></ul>This holds for many business models that don’t involve the Internet
  14. 14. Succeeding in E-Commerce in India <ul><li>Understand the customer base </li></ul><ul><li>Understand the drivers </li></ul><ul><li>Understand the barriers </li></ul><ul><li>Build a relationship with your customers </li></ul><ul><li>Keep a simple, clear experience </li></ul><ul><li>Leverage technology smartly </li></ul>Capture Rewrite Rules Consumption
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