Hyderabad primarily based MySmartPrice is a buying research platform whose fee evaluation carrier enables users locate products at the quality charge throughout all top Indian ecommerce stores. With offers and coupons integrated into their major website, they help users make higher buy choices.
“We had been constantly enthusiastic about the Indian ecommerce scenario and knew we wanted a chunk of the action’ says Sulakshan Kumar, Co-founder of the corporation. Before starting out, he and his crew checked their core capabilities and that they were product control, era and consumer associated offerings. Hence, a assessment buying website online healthy the invoice perfectly.
How does it paintings?
MySmartPrice lists the prices of all products throughout top ecommerce web sites and lists them out. These expenses are periodically refreshed to improve the accuracy of the product. In case of extremely famous merchandise, these prices are even refreshed every 15 minutes.
With embedded coupons, the website makes positive that every one feasible reductions are knowledgeable to the consumer in order that the person may additionally make wiser purchases.
Sulakshan and Sitakanta Ray(co-founder) had launched into their journey with an concept to make a minimal possible product that might be progressed upon. They started out with books and soon moved to cellular phones, comparing costs of 5-6 stores. Once the mobiles category picked up, inside 3 months they began attracting over 1 Million users a month.
Sitakanta Ray & Sulakshan Kumar
“After this we didn’t look returned. Expanding to new classes and adding extra stores” says Sulakshan.
Currently they get 15 million month-to-month visitors and feature about nine million particular users. They work on an associate commissions model, wherein they may be paid a small percent as commission by means of ecommerce shops for income that they mirror on their web sites.
In advanced markets, the associates contribute up to 20% of the whole income on e-retail shops. If one is going by using the identical assumption, in India the associates can have a potential of doing 20% ($4Bn) of expected $20Bn GMV of e-retail stores via 2018.
With a dream to be the dominant player in Indian affiliate industry, MySmartPrice become released in October 2010. The agency commenced out as a bootstrapped task and become funded with the founders’ financial savings. When the web site began gaining excellent traction, they received revenue from commission for-sales. In overdue 2011, they were given funded through Accel Partners and Helion Ventures.
Unlike its competition, MySmartPrice as a product offers correct and exhaustive pricing. It offers customers with updated expenses which makes sure that they know precisely what the charges in various shops are.
In addition with embedded coupons they make certain customers are are also made aware of any capacity reductions they could otherwise omit out on. With additional features which include:
Price graph: Informs customers approximately the rate changes of the cellphone.
Price Alert: Informs customers when a product is to be had at their finances.
Expert Reviews and Product contrast, are some of the capabilities that makes it stand out from the relaxation.
The agency doesn’t accept as true with in competitive advertising expenses to growth visitors and as a substitute is based on regular sustainable boom and patron advocacy for boom.
MySmartPrice intends to become the final purchasing research destination for Indian customers. They are currently operating on growing the variety of categories and are operating on extra features to enhance client revel in.
They also plan to listing each single product that is offered in India, on MySmartPrice. “If it is offered on line in India, it's far available on MySmartPrice” says Sulakshan.