Locobazaar

Locobazaar.in

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.

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.

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

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

Babaquotes process- for consumer

Suresh needs a Dell inspiron VS20

Post on locobazaar mobile or web the requirement with area

locobazaar

Need a Dell inspiron VS20 in praladh nagar

locobazaar

IT india: Rs 23000

Croma retail: Rs 24000

Raju sales: Rs 23500

Gets quotes from multiple vendors in locality

Goes to the store with the least price and picks up the product or gets it delivered

The Business processConsumer 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.

CompetitionDirect 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

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)

Go to Market strategy

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

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.

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

challenges

• To get both buyer and seller to the platform and ensure that the initail request for quotes don’t get bounced.

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

What are we looking for

• Idea Validation• Other suggestions • & a CTO

Thank you