Internet, nowadays, has unfolded a number of in-roads for the tech-savvy populace. Whether it may be seek or shopping, offline or on-line – all facts can be accrued within seconds, thereby bringing in a new trend, pushing entrepreneurs into the niche of discovery platforms.
Success of the likes of Zomato, the web eating place manual, is exemplary on this regard. On comparable traces, Shashank Agnihotri has released Delhi based totally online clothing discovery platform, Zakoopi (a twisted version of a Polish phrase which means ‘to shop’).
What does Zakoopi offers?
The platform enables users find out new places to store offline across 22 local markets in Delhi. Users can check out extra than 25 attributes for every store such as pix of products, GPS coordinates, product-sensible pricing, customization details, fabrics, patterns, and so forth. In addition, users may additionally get evaluations and scores about every store through fellow consumer generated feedback.
Zakoopi is building a digital community of “Shoppers” who are captivated with fashion and buying. This community would organically broaden the content material at the internet site (reviews and ratings) and pull in more and more customers.
The sales model of Zakoopi would be commercials from store owners. Stores proprietors will pay a hard and fast monthly price to show their commercials on Zakoopi.
“Unlike e-trade ventures where sales starts coming in from the word move, companies such as ours have a longer gestation duration. Revenues commonly comply with a hockey stick curve. But at the same time as most e-commerce fashions are still suffering with profitability, ours is a far greater worthwhile model, and we count on to interrupt-even inside the subsequent 9-365 days,” says Shashank.
Competition and demanding situations beforehand
When requested approximately the opposition, the organization claims to have a first mover gain inside the field. “There isn't any direct competitor to Zakoopi as of but. Ventures within the prolonged area like JustDial / Asklaila are merely directory listings, while others like Wooplr are unstructured product sharing websites,” he said.
The group believes that within the coming weeks, the important thing assignment for them is to be nimble and to hold improving the discovery experience for customers. Hence, their focus proper now is to maintain tune of user behaviour and constantly innovate to enhance the product.
Traction thus far and Future Plans
Since it’s release in past due June in advance this yr, the website online is presently doing over 25,000 month-to-month site visits (and growing), at the same time as the group continues to be within the technique of rolling out a cellular model.
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They plan to launch Zakoopi in Mumbai and Bengaluru next and the platform is similarly expected to be launched in 12 cities of India over the next 2 years. The rollout would start toward the cease of this monetary year.
The funding into the project has been near INR 7 lakhs to this point. However, Shashank is in talks with angel / seed investors with plans for faster enlargement.
Opportunity inside the area
With ecommerce envisioned to reach USD 70 Bn with the aid of 2020 inside the us of a, offline stores may be requiring channels to show off their presence on line. In India, just a meagre five Mn humans keep on line, as in keeping with a recent record. The relaxation of the internet savvy populace prefers seek and evaluation, even as making purchases offline. Thus, the function of product discovery systems comes in handy.
When it comes to style retail, then Technopak estimates this area to reach USD forty Bn with the aid of 2023, having an 8 percentage proportion in India’s overall retail market.
In terms of investment too, this segment has attracted decent funding, the latest being INR 30 crore raised by using online price contrast site, Zopper from Tiger Global. Other portals on this space catering to one of a kind area of interest are Travel Triangle, Findable, and so on. For that reason developing a massive oppurtunity for systems like Zakoopi to grow.