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Locobazaar

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Locobazaar

  1. 1. Locobazaar.in
  2. 2. locobazaar.in • We create a platform where customer can list the product he wants to purchase and near by vendors can provide live quotes to it. • Once the customer has the best quotes, he can go and pick the product from the vendor or get it delivered.
  3. 3. The Market Problem • While buying products like mobile, computer, TV, etc consumers tend to search the near by (local) stores for the best price. • The search is mostly done by visiting the store or making phone calls. • This leads to lots of hassle like bargaining, traveling , time waste, etc and the best price so obtained may not be the best as a person can access only limited number of stores.
  4. 4. Our insight • If the consumer can put his/her requirement on mobile or web app with the locality of purchase and get instant replies from local vendors the reach of search can increased and hassles for the customer can be reduced
  5. 5. The Traditional Buying process Suresh needs a Dell inspiron VS20 Visits few shops and calls a few more to get the best price. Wastes 2 hour in the process saves Rs 1000 But is more tired than excited about his new possession
  6. 6. Babaquotes process- for consumer locobazaar locobazaar IT india: Rs 23000 Need a Dell inspiron VS20 in praladh nagar Croma retail: Rs 24000 Raju sales: Rs 23500 Suresh needs a Dell inspiron VS20 Post on locobazaar mobile or web the requirement with area Gets quotes from multiple vendors in locality Goes to the store with the least price and picks up the product or gets it delivered
  7. 7. The Business process Consumer lists a product he needs on locobazaar Message is delivered to the vendor on his mobile application or as sms or the vendor dashboard on the web application Vendor sends an instant reply through mobile application or SMS Consumer selects vendor with best price Goes to the shop and completes the deal.
  8. 8. Competition Direct competitor •Pricebhai.in, pricebaba.com- Operates only in a few cities, the quotes are not live and updated on a weekly basis. Provides price only for a few products. The model is not scalable. Indirect competitor•Just dial- Just Dial provides the lead to local vendor who contacts the customer or the customer can contact the vendors- The service is limited to certain products and is not very smooth Other players•compareindia.com, compareraja.com, pricedekh.com, naaptol.com, shopmania.com, wheretobuy.com, bearshop.in and more – These are in the online price comparison market
  9. 9. The fact that companies like JustDial is trying to enter the market it self proves its need (justdial has not had much success until now in this domain)
  10. 10. Go to Market strategy Get the web & mobile application ready Focus on a particular territory and product category Convince customer & retailer in this product category & territory to use the platform Increase the product category & territory
  11. 11. Core strategy- why will locobazaar work? Reduces hassles for the customer & Increases reach for the Shop owners & Creates win win situation Shop owners will now be able to target customer in lesser time
  12. 12. Financial model Invest in building the platform in the first two year Earn through subscription for the life time of the product. Revenue model– Subscription fee- We ask the local shops to become member at a certain membership fee.
  13. 13. Threats/weakness • Vendors may not willing to enter in a price competition • Unnecessary listing of products by the consumer can lead to spamming • wrong quotes by the retailer
  14. 14. challenges • To get both buyer and seller to the platform and ensure that the initail request for quotes don’t get bounced.
  15. 15. Outcome of the business • If we create a network like ebay, we exit with an IPO • We can be acquired by companies like justdial/ebay/indiamart to increase their scope of business
  16. 16. What are we looking for • Idea Validation • Other suggestions • & a CTO 
  17. 17. Thank you

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