StartupTalky

Tag: E-commerce Business

  • What Should You Know Before Developing Backend for Your E-commerce Website?

    Before establishing any e-commerce website, or any web application, we should establish a fully functioning system before kicking off. If we do not do our homework in setting up this system, we would face a lot more difficulties as time progresses.

    They are two main components that come to play when it comes to setting up this system- Frontend development and backend development .

    Examples of frontend-based technologies are HTML (HyperText Markup Language), CSS(Cascading Style Sheets), Angular.js, React.js.

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    What Is Backend Development?
    What are the Key Components of Backend Development?
    Things To Consider Before Backend Development For Your E-Commerce Website

    What Is Backend Development?

    They are two main components that come to play when it comes to setting up this system- Frontend development and backend development. Frontend development involves those aspects of programming that the user/client can see and interact with. A frontend developer is to build on the User Interface and User Experience and thus bring those designs to life and thus provide a structure needed for feasible working.

    Backend development involves the other aspects of programming which are faced by the server/programmer and are responsible for the smooth functioning of the platform from behind the scenes.

    Actions taken by the user/clients are analysed, fetched, and then data is manipulated depending on what is the function of the platform by the backend developer. A backend developer should be well versed in knowing various databases and frameworks which we would discuss in detail.

    What is backend Development?

    What are the Key Components of a Backend Development?

    The key components of a Backend ecosystem are as follows:

    Database Management

    Database management for E-commerce website
    Database management for E-commerce website

    A database helps us maintain and process the humongous amount of data, created by the users, that is present in the web application. The backend developer is the one who is responsible for storing, retrieving, updating, and managing the complete dataset.

    While the frontend developers do have the option of manipulating data from the Application Programming Interface (API), it is a cumbersome process, and asking the backend developer to manipulate, like say adding new data, through the databases he has is widely seen as a time-saving process.

    Examples of databases are SQL, MongoDB, DynamoDB by Amazon, Firebase by Google, etc.

    Backend Framework

    A backend framework is a foundation where the user has all the foundational tools needed for developing the backend applications in one place together. Thus, they automate all of the necessary prerequisites correlated with backend software development activities.

    The advantages are that it reduces the time taken for the whole process and can make it more scalable across various other platforms. Some popular backend frameworks are express.js, Django, Ruby on Rails, etc. And all of these backend frameworks need an environment conducive to work. There comes the role of various programming languages like Python which supports Django or runtime environments, which allows the user to run the language outside the browser.

    For example- Node.js, which provides a runtime environment in which JavaScript can run, is the platform on which Express.js runs. These runtime environments, as seen in Node.js, also act as their web servers which turn out to be very convenient. Web servers are a type of software that takes requests from users, scans, and then provides an end product in the form of the requested documents to the user.

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    Things To Consider Before Backend Development For Your E-Commerce Website

    Things To Consider Before Backend Development For Your E-Commerce Website
    Things To Consider Before Backend Development For Your E-Commerce Website

    Compatibility

    In some cases, the database is way more compatible with the backend framework which makes for smoother implementation and convenience. For example, MongoDB works way better with Express.js(and thus node.js) than SQL simply because there is no specific need for a well-structured schema for MongoDB as in MongoDB the data is represented as a collection of documents rather than tables with foreign keys.

    This is why “stacks” exist. Stacks are a set of software subsystems that comprises the various software that is compatible with each other. In web applications, it consists of various components depending on the circumstances. For example, it could include the three backend aspects in the databases, backend platform, and the programming language/run-time environment.

    It could also include the front-end (web application framework) or even the webserver. At times, if it works with only a specific operating system, then even that is included in the stack.

    One popularly known stack is the “MEAN” stack(MongoDB-Express.js-Angular.js-Node.js) where MongoDB, Express.js, and Node.js act as the backend components while Angular.js is the front-end component. Alternatively, we can substitute Angular.js for React.js and thus, the “MERN” stack.

    Another known type of stack is the “LAMP” stack(Linux-Apache-MySQL-PHP/Python). Here Linux is the specific operating system on which it works, Apache is the Web Server responsible for connecting web browsers to the correct website, MySQL is the database used and PHP/Python is the programming language on which this works. There is also the Python-Django stack which comprises the programming language in Python and the backend framework in Django.

    Thus buying into these tried and tested stacks which are compatible with each other makes for smoother implementation of the project. We must also ensure these stacks are compatible with the technology we use, for example, we can’t try to use the LAMP stack on a Mac or a Windows directly without separately installing Linux in it.

    Scalability

    By Scalability we mean whether the system increases or decreases in performance and cost in face of more application and process demands than what it is used to.

    Thus, when building an e-commerce website, we need to be sure of roughly how many users would come to our site at various junctions of time. For example, if the e-commerce site is targeting a low number, but niche customer then it makes sense to use MySQL as database, as it works well when there is a low write/read ratio. If the site is targeting a higher number of users then it is preferable to use MongoDB as our database as it is suited to handling larger and more complex data.

    It also makes sense to use JavaScript(.js) backend frameworks more than Python-based frameworks as it allows multithreading, which makes for better scalability. Multithreading is a model of program execution that allows for multiple sequences of programmed instructions to be created within a process, executing all of them independently but at the same time. JavaScript-based frameworks also have more inbuilt libraries which give us a lot more diverse options in hand.

    Efficiency

    While selecting what kind of technologies we need for our backend framework, we also need to consider how much time it takes for building the process. Like if the e-commerce website has any time constraints then they can quickly launch the product using LAMP, but if we can take a slow and steady approach then it makes sense to go for the MEAN framework as it allows for better performance.

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    Frugality

    We also need to consider the various costs involved in setting up the whole process in the first place. That could be the expenses paid to the developers, or could be the separate cost of setting up the web servers and so on. In the end, all of these depend on the complexity of the task-in-hand. Like, it may take relatively lesser costs for a low-level e-commerce website using JavaScript-based frameworks as all of them can be dealt with by a single or a group of JavaScript specialists. Whereas for say LAMP you need a separate specialist for Apache and then PHP which might bring more costs and more parameters to be considered, thus making it complex.

    Security

    We also need to consider how secure the back-end frameworks are and be wary of them before incorporating them into our e-commerce website. Like, due to different servers and client codebases, we might allow malicious data to enter while operating through a LAMP stack.

    Similarly, privacy issues might prop up if we disable JavaScript and this can be an obstacle in running the MEAN stack. We need to find the optimal solution which does not compromise our security.

    Conclusion

    Thus, here, we have discussed the various factors which should be considered for the backend development of any e-commerce website. A basic rule of thumb is that for smaller applications it makes sense to go with a LAMP-based stack and for bigger ones, it makes more sense to go for MEAN-based stacks. There might be some innovative developments in the future but for the time being, it makes sense to go with these known frameworks so we can start the business soon.

    FAQs

    What is backend development?

    Backend development refers to the server-side of a software/application that communicates between the database and the browser.

    What are the Key Components of a Backend Development?

    Key components of Backend Development are:

    • Database Management
    • Backend Framework

    What are the features of an eCommerce website?

    E-Commerce Website Features are:

    • User-Friendly Design
    • Mobile-Friendly Features
    • Detailes Product Description
    • Several Payment Options
    • Customer Support Features
    • Sales and Discount
    • Users Review Option

    Which technology is used in backend development?

    Technology used for backend development are:

    • Javascript
    • Python
    • Ruby
    • PHP
    • C#
    • Perl
    • C++

    Which is the best example of an E-commerce website?

    Some examples of the best E-commerce websites are:

    • Amazon
    • Flipkart
    • Ebay
    • Walmart
    • Snapdeal

  • Creating an E-commerce Website? Here Are the Vital Features That You Need

    Online markets have been in existence for quite a long time. But the pandemic made them a necessity more than a want.

    The e-commerce industry has seen significant growth over the past few years. This has encouraged many people to launch new startups in this field.

    To build an e-commerce platform, the most important base is a strong website. If the website is not well-made and easy to use, it will not bear the fruits of success.

    A successful website needs certain features to work well. These include- customer services, detailed information, reviews section, different payment options, and more.

    Overview of E-commerce Websites
    Most Important Features for E-commerce Websites

    E-commerce website Features

    Overview of E-commerce Websites

    Trade and commerce play a huge role in the global economy. Buying and selling have been in existence almost since the existence of mankind. Earlier it took place as barter and then the monetary values got involved.

    Now, the buying and selling process has modernized because of the increasing technology and digitization. This has given birth to e-commerce. It stands for electronic commerce. In simple terms, it is just the commerce happening over the internet.

    But how does this happen? The entire process happens over a website. It is a website that gives power to people to buy and sell products, services, and more, over the internet. For this, a person does not have to go to a physical store.

    E-commerce websites enable businesses to take orders, receive payments, manage to ship, and also provide services to the people at home.

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    Most Important Features for E-commerce Websites

    The origin of a startup is based on an idea. The idea is to solve a problem and add value to society. There is no doubt that the problem of providing products and services at home has been solved. Some of the leading platforms like Amazon, Flipkart have done that already.

    But this does not mean that the newcomers cannot enter the market. To dive into this market and swim successfully needs strategic planning and its implementations. The basic and foremost strategy is to build an effective website that can help you earn a place in the market.

    Here are some of the important features that you need to add to your e-commerce website:

    Accessible Design

    The first thing you do before putting in the various elements in anything is to make a blueprint. The most important thing for any website is its design. Make sure to keep it simple and uncomplicated. Adding a lot of elements can be fun and attractive for some. But it is the road that can lead to further complications.

    Your design should be such that when a user enters your website, they access everything at ease. This makes for a great experience for the users. So, always remember to keep your design easy, uncomplicated, and user-friendly.

    Mobile Optimization

    E-commerce Website feature - Mobile optimization
    E-commerce Website feature – Mobile optimization

    Most people like access to everything at their hands. This means nowadays, they want everything on their smartphones. So, while developing a website make sure that it is suitable for mobile phones as well.

    It is important to include the feature of mobile optimization. The design must be adaptive for both computer and phone screens. Its size should change according to the screen size.

    Different Payment Options

    E-commerce Website feature - Several Payment Options
    E-commerce Website feature – Several Payment Options

    This is the most important feature that ensures the seal of a purchasing deal. Many people might like the platform and fill their carts with your products and services. But when they proceed to the checkout and do not find their preferred payment option, they won’t make a buy.

    So, it is important to include various payment options as your feature. You can add options of debit and credit cards, Net banking, PayPal, COD, and more. If suitable, you can also add buy now and pay in the future plugins.

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    Descriptions and Shipping Information

    Another feature to include is product description and shipping information. It is important that every product or service has its description with it. It should also include the information of when is the shipment expected and extra charges (if any).

    This feature makes the website appear clearer and more trustworthy.

    E-commerce Website feature - Filter and Sort Feature
    E-commerce Website feature – Filter and Sort Feature

    This feature makes the process for customers easy and effective. Search enables the customers to look for products and services without endless browsing. The Filter ensures that they can target their exact preferences. Sorting helps them to select a criterion for listing.

    So, for a sorted user experience, it is important to include this feature.

    Cart and Wishlist

    E-commerce Website feature - Cart
    E-commerce Website feature – Cart

    It is the most important feature needed for an e-commerce website. This enables the users to add all their items in one place. Many websites ditch the e-commerce buttons of a wishlist, thinking that it’s not important.

    But it is necessary to think from the people’s perspective. There are times when a customer likes six items but they only have the budget for four. So, they like a place where they can keep the left items for some time and come back later for it. Thus, this is a vital feature for ensuring a good experience for users.

    Review Section

    This feature is helpful in many ways. It will help you to get feedback about what is good and what is not. It will help you know about customer preferences. The most important thing is that it will help the customers build more trust in your site.

    Since the customers cannot see the product as they do in a physical store, they gain trust with these reviews. It is like word of mouth that helps attract more customers. So, make sure to include the feature of user reviews on your site.

    Customer Care

    It means to be available for support for online customers. The whole process works over the internet. So, many customers have questions to ask and also face challenges with certain things.

    It is the duty of the platform to keep the customers satisfied. Including the feature of customer care service in your website shows your support and availability for the users. This feature can also gain new potential customers as they can get their doubts cleared.

    Discount and Offers

    E-commerce Website feature - Discount Feature
    E-commerce Website feature – Discount Feature

    This is an important feature, responsible for attracting more customers. Everyone loves when they get a discount while making a buy. You can add this feature to the homepage. So, when a person opens your platform, this is the first highlight on their screen.

    You can send certain offers and codes to users via various marketing channels. For this, you can add the feature of the code box at the time of checkout.

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    Conclusion

    The above-mentioned are the most important features to include in one’s site. Apart from these another thing to keep in mind is to ensure that the website has a short loading time. Long wait snatches the interest of users from the platform.

    A great e-commerce website is not one that is too fancy. It is the one that gives a clear, accessible, and intuitive experience to its users. So, when you offer quality items and clear access to the website features, it is bound to take you towards the path of success.

    FAQs

    What are the important features of an E-commerce Website?

    Some main features of a Good E-commerce websites are:

    • Accessible Design
    • Mobile Optimization
    • Different Payment Options
    • Descriptions and Shipping Information
    • Filter, Sort, and Search
    • Cart and Wishlist
    • Review Section
    • Customer Care
    • Discount and Offers

    What are types of e-commerce?

    There are four traditional types of e-commerce:

    • B2C (Business-to-Consumer)
    • B2B (Business-to-Business)
    • C2B (Consumer-to-Business)
    • C2C (Consumer-to-Consumer)

    What are the best platforms to build an E-commerce website?

    The best platforms to build an E-commerce website are:

    • Shopify
    • BigCommerce
    • WooCommerce
    • Wix
    • Square

  • Cikitsa – Providing Beauty & Healthcare Products From Mother Nature

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Cikitsa.

    In the past, the healthcare and beauty industry has been flexible, but the COVID-19 pandemic has impacted both sectors globally. The healthcare and beauty industry in India is expected to exhibit huge growth in the coming years. People are getting concerned about their health and beauty which makes them choose herbal and natural products over chemical products. The herbal product market is expected to grow at a CAGR 38.5% to Rs.14 billion (US$ 188.6 million) by 2026. Cikitsa has promised to bring well researched quality products to the world. They have aim to provide truthful beauty and healthcare products from Mother Nature.

    Read the startup story of Cikitsa, Founders, ideation, its products, and more about Cikitsa.

    Cikitsa – Company Highlights

    Startup Name Cikitsa
    Headquarters Cochin
    Industry Beauty and Healthcare
    Founders Fazal Rahman and Thamanna Jabin
    Founded 2020
    Website cikitsamart.com

    Cikitsa – About
    Cikitsa – Founders and Team
    Cikitsa – The Idea and Startup Story
    Cikitsa – Name, Tagline, and Logo
    Cikitsa – Products
    Cikitsa – Customer Acquisition
    Cikitsa – Challenges Faced
    Cikitsa – Advisors and Mentors
    Cikitsa – Future Plans

    Cikitsa – About

    Cikitsa is a Cochin based Beauty and Healthcare startup founded in 2020. They offer products inspired by ancient science of healing.

    At this time, their hero product is Cikitsa hair oil that caters to customers who are seeking to alleviate an array of hair issues while promoting hair growth. In addition to that, they have a selection of other nature-based products that cater to a wider audience.

    The company’s short-term goal is to ramp up their product from an eCommerce business to brick and mortar stores spanning across the state. In the next year or two, they are anticipating the launch of their product in some of the flagship stores across the country. With due time and continual growth, it won’t be long before Cikitsa hits the international markets.

    Their core beliefs guide them and help formulate their convictions, their values, and their code of ethics.

    They diligently spend time in bringing the best of nature to their customers in the most unaltered form- from soil to shelves. They are guided by the desire to provide 100% organic, natural, and efficacious products that address their customer’s concerns within a budget.

    Cikitsa – Founder and Team

    Cikitsa Founders - Fazal Rahman and Thamanna Jabin
    Cikitsa Founders – Fazal Rahman and Thamanna Jabin

    Cikitsa was founded by Fazal Rahman with his co-founder Thamanna in 2020, the very year they got married. Right from the inception to this date, her support and contributions to the making of the brand have been nothing short of irreplaceable. Her know-how of the cosmetic space with her passion for all things creative has helped us position themselves in a commendable way.

    Thamanna takes care of and heads the creative and marketing side of things, Fazal Rahman takes on the general operations and financial side of the business.

    Cikitsa – The Idea and Startup Story

    Enterprising, inventive, and extremely driven, Cikitsa’s founder and CEO, Fazal Rahman has always been unafraid when it comes to heading the path less travelled. That would explain why he wanted to venture into the relatively daring task of setting up his own business, despite enjoying comfortably mighty success in his family business. Thus, in many ways, Cikitsa was conceptualized by the founder’s towering entrepreneurial mindset.

    That, coupled with his drive to create a natural, sustainable, and eco-friendly brand that fostered conscious living, Cikitsa was quick to peek through. When he shared the business idea with his immediate family and close friends, the love, support, and encouragement sure gave him the extra nudge to follow through with the plan. To set the wheel in motion, he was quick to identify the prizable and yet often untapped potential of amalgamating Ayurveda into cosmetic products. Thus began extensive research to identify the needs and pain points of their target market. To ensure maximum quality and stringent safety regulations, he sought expert opinion each step of the way.

    Time, energy, and money were invested in formulating, manufacturing, and designing the product to perfection. From sourcing the raw materials right through packaging, binding standards are ensured to provide the best quality products that tackle customers’ pain points without burning a hole in their pocket.

    Cikitsa Logo
    Cikitsa Logo

    When setting up the brand, they were dead set on choosing a name that best represented the intent and purpose of the brand. Because of that, they were bound and determined to steer clear of any and every westernized name.

    Cikitsa was ideated from the Sanskrit word ‘Chikitsa’ which loosely translates to salving therapy or resurrective healing. Considering that it was much in line with their brand and ethos, they didn’t have to think twice and wound up using it without second thoughts.

    Cikitsa – Products

    Cikitsa Hair Oil
    Cikitsa Hair Oil

    At present, their hero product is none other than Cikitsa hair oil. In making this product viable they have fortified pioneering research, ingenious formulas, and synergetic herbs to alleviate irksome hair issues such as dandruff, dryness, lice, postpartum hair loss, etc, and in the course of time, promote hair growth.

    Right from sourcing raw materials through packaging, they take care to stand by their pledge to offer products that are as close to nature in non-prescription formulas. They provide safe, thoroughly researched solutions with no side effects.

    Over time, they have made tweaks to their product, in terms of making the product more eco-friendly and sustainable.

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    Cikitsa – Customer Acquisition

    As soon as the product was ready to be sold, they reflexively sprang into action and started promoting it on their Social networks. They reached out to their network, both personal and professional, to get the word out about their launches. While the first few purchases came from friends and family, the word fast caught on and they ended up seeing good traction without any paid marketing.

    Thus, by simply leveraging their online presence and harnessing the power of word-of-mouth marketing, they were able to expand their reach and expand their customer base quickly.

    By being hell-bent on tracking and analyzing customer behavior and metrics, they were able to continually make progress. They kept an open mind while listening to their customers’ feedback and were quick to act on their key concerns and suggestions. Not only did this help us in retaining existing customers via repeat purchases, but also furthered positive reinforcements around their product, and attracted new customers.

    They were also quick to create an attractive and functional website to bolster their customer experience further. Launching its website helped us streamline the purchase process, and made placing an order with us a lot more convenient and hassle-free. That, along with implementing good SEO practices and regularly optimizing their web pages for search, they were able to drive a lot more traffic and in turn, more customers.

    Cikitsa – Challenges Faced

    While setting up my business, we, as a team, had to tackle several roadblocks to get where they are today. While most of them were anticipated hiccups, their journey was not without major challenges.

    One of the trying issues was procuring licenses for their products. While getting all the required paperwork for a business is often always tedious and time-consuming, it took us quite a while to wrap up the documentation towards legal compliance. But by being proactive and consistent in their approach, they were able to speed up the process and make things happen.

    Another taxing challenge came in the time of the pandemic when their day-to-day operations were largely disrupted and they were forced to slow down. Nevertheless, their timely interventions and re-direction helped accelerate their recovery.

    Cikitsa – Advisors and Mentors

    When Cikitsa was in its early inception stages, the brand very much benefited from the mentorship and guidance of the directors of my family business. Seasoned professionals and experts in their own lane, they sure helped me navigate the business in the right direction. Even to this date, their timely inputs and pointers continue to steer this business to greater heights. It would also be worthwhile to mention the invaluable feedback and suggestions from my family who are weathered and accomplished business veterans themselves.

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    Cikitsa – Future Plans

    All things considered, the future sure looks bright for Cikitsa. From newer and better additions that customers love, we’re committed to building a brand that’s synonymous with the good old glory of nature.

    In the next few years, they see themselves diversifying their product portfolio and launching thoroughly researched & effectively formulated products to the market. With due time and steady progress, they definitely are going international to cater to a larger customer base across the globe.

    FAQs

    Who is the founder of Cikitsa?

    Fazal Rahman and Thamanna Jabin are the founders of Cikitsa.

    When was Cikitsa founded?

    Cikitsa was founded in 2020 in Cochin.

    What are the products offered by Cikitsa?

    Some of the products offered by Cikitsa are:

    • Cikitsa hair oil
    • Bamboo Tooth Brush
    • Almond Oil
    • Honey
    • Wooden Comb
    • Wooden Razor

  • How E-Commerce Brands use AR/VR to Enhance The Shopping Experience?

    This article is contributed by Anshul Agarwal, Co-founder of XR Central.

    Most people we know, when they need to buy supplies, will take a few hours or more in order to: a) go to the shops, b) search for the desired shop, c) go to the relevant section in the desired shop, and so on and so forth, you get the picture. The internet has made e-commerce faster and more convenient than ever before, but there are still things that we hesitate to buy online. We want to try on glasses, try on clothes, see how everything fits before we click that button. And for that, you have to take a few hours to go to the shops.

    The advent of the metaverse, and technology like 5G, will make e-commerce even more intuitive and convenient for customers. Now, you can scan your body or enter your measurements and try on all sorts of clothes and accessories on your virtual avatar. With the level of precise detail made possible in the metaverse, this will be as close to the real experience as possible and will take a fraction of the time. And if you think, well, this is an activity that I’d like to do with friends, then the social component – that gets missed from a lot of e-commerce experiences at the moment – will also be there for you. Your friends will have the opportunity to create their own avatars and accompany you on virtual shopping trips from the convenience of their own homes.

    Indeed, XR-powered platforms power the collaborative and social aspect of retail via omnichannel messaging and real-time avatar interaction. You and your friends will be able to stroll in a fully immersive experience through the shops in your local neighbourhood – or even thousands of miles away. And shop owners will have a chance to showcase their goods effectively while maintaining their customers’ level of trust. There is also a rise in AR apps you can use to project makeup and accessories onto your face. Snapchat, for example, is debuting a version of Shopping Lens that will enable users to swipe through different kinds of makeup and cosmetics and virtually try them on their faces. Attached to the AR overlay will be detailed on prices, colours, and sizes. Major brands have already signed on to this new way of shopping and there are predictions of more and more brands jumping on the bandwagon soon.

    Last year, Gucci made a big splash selling NFTs of digital clothes and accessories for millions of dollars. As we transition to a predominantly digital presence, we can expect to see a big uptick in our Direct-to-Avatar (D2A) purchases. For an appearance-conscious generation, digital avatars will need to exhibit personal flourishes via clothes and accessories. We know what makes us unique in real-life, but what will that be in the metaverse?

    Like we’ve seen with H&M’s new virtual store, it will be possible to have cross-platform flexibility and access to major brands in a virtual setting. Users will be able to access retail stores on their tablets, smartphones, laptops, or by using VR-enabled headsets or glasses. Having stores at a ‘virtual’ address will offer brands a chance to be hyper-local in a truly global setting, and to gain access to a wider audience and secure cutting-edge brand equity.

    For brands that don’t want to go all out on digital products, there is an opportunity to have hybrid showcases – where real-world creations are matched with virtual accessories to be sold as NFT collectibles. NFT collectibles are custom digitized tokens that, by definition, are truly exclusive. They cannot be exchanged with each other. And it’s low-cost, without raw materials, fittings, export duties, and comparable workers’ fees. Users can have their NFTs digitally rendered into Instagram or Snapchat filters, Zoom filters, QR codes, and seamlessly project an extension of their personality into the digital realm. In fact, the highly scalable and highly custom nature of virtual retail will make it so that retailers will create less waste and be able to recruit new customer bases with relative ease.

    A case in point for retail’s future in the metaverse is the participation of FMCG companies. You could think that FMCG doesn’t really fit in the metaverse, but we have innovative branding strategies being implemented by the likes of Hellmann’s mayo – who created a campaign on Animal Crossing regarding food waste – and Proctor and Gamble – who created lifelike skin for avatars to advertise their Venus razors. A unique, multi-faceted campaign can result in a hundred-fold increase in social media mentions and make creaky brands seem slick and savvy.

    And lastly, home shopping will become easier. We now have interior designers and decorators visualising furniture and all manner of home accessories in a rendering of your flat. And using AR shopping apps – like Amazon’s Room Decorator – you can see how that new bed you’re thinking of buying will look in your room, or how that painting or that rug, or that vase will look in your home. The tools powering the metaverse will provide an unprecedented ability to visualise 3D objects accurately, so you can be confident of your purchase.

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    Conclusion

    So, in summary, retail and e-commerce have a bright future in the metaverse on a number of different fronts. Some of them are already here and some will continue to evolve and mutate far into the future. It will be interesting to see where we land.

  • How Can D2C Brands Use Data to Grow E-commerce Sales?

    The article is contributed by Mangesh Panditrao – CEO and Co-Founder, Shoptimize.

    Propelled by the incumbent pandemic, online shopping has gained immense traction over 2020 and 2021, and the positive ripple effect is still being seen in the e-commerce industry. Throughout this period, e-commerce and omnichannel businesses innovatively leveraged the digital avenue to manage their offline stores and sustain themselves in the pandemic-battered business environment. However, with the rising competition, the next phase of success for e-commerce companies will be led by a deep understanding of the target market and meaningful connections with the customer. This is where data comes into effect.

    Significance and Benefits of Data in E-commerce

    Data Assist Brands Stay Updated With Crucial Business Insights

    The overarching goal of every business is to increase its revenue. To accomplish that, the brand must make the right decisions at the right time, which can be done efficiently by analyzing data. Insights driven from consumer-centric data can help brands understand how the company is being perceived by customers, how the brand is performing in different markets, and the improvements required to maximize profits. This allows businesses to serve consumers, grow revenue, and improve operations.

    Enables Brands to Provide Personalized User Experiences

    Understanding how customers interact with your company is critical to determining what appeals to them. As a result, e-commerce companies might leverage data analytics to better understand their customers’ needs and improve their end-to-end purchasing experience through personalization. For instance, various platforms use data to understand customer demographics and tailor their marketing messages to suit different cohorts of consumers.

    Helps in Making Data-Driven Decision

    Customers’ needs are constantly changing, and with many brands available, they have more options than ever before. And to keep up with the ever-evolving needs of the consumers’ D2C brands will need to focus on improving their capabilities. Hence, data-driven decision-making is necessary for success. Brands may track their customers’ preferences through data and analytics based on factors such as location, demographics, and online behaviour. An evidence-based data enables brands to make informed decisions and thoughtfully prepare to achieve their objectives.

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    How Brands Can Leverage Data to Increase E-commerce Sales

    Converge Data From Various Platforms and Channels

    Ever since doing business went digital, the amount of data it has been generating on the side continues to get bigger and bigger every day. Analyzing this data to make critical decisions becomes overwhelming for internal teams and marketing companies. It requires a highly specialized skill set and cutting-edge technology to gauge insights and aid quick, efficient decision-making. E-commerce analytics helps brands quickly and easily gather data in one place, break down data silos, and increase productivity, efficiency, and business agility.

    Join the Dots Between Your Customers and the Numbers

    Simply collecting data and not being able to use it results in wastage of money and time. After the data is collected, data analytics gives a detailed view of the big picture; it also looks at relationships and patterns among several of its components before delivering business insights. Hence, one way of achieving this is through unified data analytics. Unified data analytics is basically a process that merges data processing with cutting-edge artificial intelligence to deliver business insights and outcomes.

    Know When to Take Action

    Seasonality and trends can play a significant part in your efforts to provide your consumers with the most seamless experiences possible. As a result, it’s essential to consider and maintain a close check on trends to take timely action. Understanding seasonal patterns & trends might assist you in determining how things will pan out throughout the year. As a result, you’ll be able to focus on the right products that are available at the right time so that customers’ expectations are met.

    Reading Data to Understand Websites Shopping Behavior Flow

    To understand the website’s shopping behaviour flow, you can monitor how a customer lands on your site, browses through products, adds them to the cart, and checks out. Sifting through this data will help you understand your website’s purchasing behaviour flow and reveal where customers are more engaged and which paths lead to conversions. Furthermore, it will draw attention to what isn’t working. This will allow you to read your visitors’ minds by observing their behaviour and better cater to them.

    Use Data to Track Your Product Performance

    It’s critical to look at detailed product data for both marketing and sales tracking. It helps in understanding the price band for different consumer segments. How are individual products performing & figuring out the bestsellers and the low-performing products. This allows businesses to devise the marketing campaigns accordingly. Furthermore, keeping track of returns and refunds helps improve the product’s quality. This approach can help an e-commerce business improve its services and quality, increase revenue, and improve operations.

    Conclusion

    Data is critical for businesses to thrive in this digital age. So, it’s high time that companies start making data-driven decisions to succeed at online selling. Integrating e-commerce analytics across the customer lifecycle is essential for creating a competitive customer experience. These findings will help brands improve the discovery, acquisition, conversion, retention, and advocacy process.

  • How Clovia Became The Most Trusted Online Lingerie Retailer?

    There are still several girls or women present on this planet who feel too hesitant to talk about lingerie with a salesman while shopping, and probably it ends up offering a bizarre feeling! Perhaps you, the one reading this article, also might have felt, experienced or maybe gone through this circumstance various times and we all females know well what it feels like. To remove this feeling or situation, Clovia came into existence.

    Clovia is currently one of the leading online lingerie portals in India where individuals can get budget-friendly products for themselves. Lingerie is such a thing that all females need regularly and is also quite an essential part of every female’s daily life. Not only comfort but also Clovia products have got the responsibility of boosting confidence and presently several females do consider and recommend Clovia to undoubtedly be the best and be trusted by. Read the Clovia Success Story below!

    Clovia – Company Highlights

    Startup Name Clovia
    Headquarters Noida, Uttar Pradesh
    Industry E-Commerce, Fashion Retail
    Founder Neha Kant, Pankaj Vermani, and Suman Chowdhury
    Founded 2012
    Total Funding Raised $22.7 Million
    Parent Organisation Purple Panda Fashions Pvt Ltd.
    Website clovia.com

    Clovia – About
    Clovia – Industry
    Clovia – Founders and Team
    Clovia – Startup Story
    Clovia – Mission and Vision
    Clovia – Tagline and Logo
    Clovia – Business Model
    Clovia – Revenue Model
    Clovia – Funding
    Clovia – Growth
    Clovia – Online and Social Media Presence
    Clovia – Advertisements and Social Media Campaigns
    Clovia – Competitors
    Clovia – Future Plans

    Clovia Startup story

    Clovia – About

    Clovia is a current lingerie brand present in India! Not only simple or daily to use lingerie Clovia designs, but also the team has got fashion lingerie to showcase to its consumers. Decent fabrics, good quality satins and exotic laces are used to design the products and hence, presently, it is selected to be one of the top lingerie shopping brands in the country of India.

    On Sunday, 20th March 2022, The retail giant Reliance has acquired majority of stakes in Purple Panda Fashions Pvt Ltd. – The owner of Clovia. Reliance Retail Ventures Ltd. has owned 89% stakes in Clovia.

    Clovia – Industry

    In 2020, the e-commerce industry of India was the 8th largest market chasing France and a stance forward to Canada. In 2021, the Indian e-commerce market grew by 5% with an anticipated sales of US$ 56.6 billion.

    From 2017 to 2020, India’s revenue generation jumped from around US$ 39 billion to thrice the amount and during that period the rate was highest in the entire globe.

    Clovia – Founders and Team

    The founders of the company Clovia are Neha Kant, Pankaj Vermani and Suman Chowdhury.

    Neha Kant

    Neha Kant - Clovia Founder
    Neha Kant – Clovia Founder

    Neha Kant is the founder and the director of Clovia Lingerie! She has been working over here since the beginning and it is 9 years and 7 months now. Neha began her career as an Account Executive at FCB ULKA and then she changed companies and worked at India Today and Smile Interactive Technologies Group. At both places, she served as a marketing head. She is a Mathematics graduate at Delhi University and completed her course in Business Management from the FORE School of Management, New Delhi, India.

    Pankaj Vermani

    Pankaj Vermani – Clovia Founder

    Pankaj Vermani is the founder of Clovia and the present CEO of the renowned lingerie company of India. He began his career as an Engineering Intern at GlobalLogic and then changed positions, founded companies, and also served various companies. He completed his education at the Indian Institute of Technology, Delhi.

    Suman Chowdhury

    Suman Chowdhury is the co-founder and the COO at Clovia! He began his journey as a senior designer and then as the others eventually started changing his positions in various companies. Suman worked at Lee Cooper as a Product Manager and many more. He is an ex-student of Kendriya Vidyalaya and Kolkata University. Also, he has got an Advanced Diploma in Fashion Designing from the National Institute of Fashion Design.

    Clovia – Startup Story

    Clovia is a lingerie shopping brand and 10 years back, the word lingerie was not so common in India as it is today! As mentioned above, women felt quite uncomfortable shopping from the normal departmental stores present in the marketplace and this is what Neha thought of changing.

    Her travel to Europe made her mind open that India is lagging in terms of lingerie and new products are to be launched. Also, since many felt shy to talk to the salesmen in the normal stores about lingerie and stuff she just tried to change the stereotype and make women feel more enthusiastic in every aspect. This is where Clovia stepped into the scenario with numerous thoughts and sought to rise high.

    Clovia – Mission and Vision

    The mission of the company Clovia is devoted towards being a woman’s go-to and the favourite online fate for all the everyday lingerie requirements! Clovia has got a nice variety of undergarments and night wears to offer to its consumers both stylish and superbly comfortable.

    Not only this but also Clovia has got sexy and muggy bridal lingerie sets for the newlywed brides, honeymoon lingerie sets for beaches and so on. The vision is to see the demand for Clovia growing every passing day.

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    The tagline of the company Clovia is, ‘offering joy’. The actual goal is to aid the consumers with such comfy and exotic products that all the females can find both happiness and joy in every little way they can.

    Clovia – Business Model

    The business model is quite simple over here! It is an online e-commerce brand just like other e-commerce giants such as Flipkart, Amazon, etc. According to each one’s specific choices, consumers do buy from their web portals. Reports say that products are easy to stock and because of several sorts of designs, Clovia has gained both love and popularity.

    Clovia – Revenue Model

    Clovia is earning from what it is selling online. Its variety is the reason behind its popularity! Online is considered to be a better space now rather than that of the offline marketplace and hence it is doing well if talking in terms of generating revenue. Apart from this, through promotions both digital and print it is also earning money.

    Exclusive deals are shared through emails with the existing consumers and this helps Clovia to distract people and earn automatically. Hence, sharing is beneficial!

    Clovia – Funding

    Clovia has raised a total funding of $ 22.7 Million.

    Date Stage Amount Investors
    December 2020 Series C $4 Million Golden Birch Investments, She Capital
    January 2019 Series C $10 Million AT Capital
    April 2017 Series B $4 Million Ravi Dhariwal, Singularity Ventures
    June 2015 Series A $4.7 Million IvyCap Ventures

    Clovia – Growth

    Clovia witnessed good growth during the pandemic period. Since people have been working from home for the last two years, individuals thought of buying the essentials online and more specifically lingerie is a daily need just like food and water. The lingerie market is known to be growing extensively by 2025.

    Clovia saw decent growth last year and is currently claiming to generate double this year.

    Clovia – Online and Social Media Presence

    Clovia has got a really good reach on today’s planet because it has become a trendsetter in both hearts and minds of the women’s community. It has got social media profiles on LinkedIn and Instagram respectively. One is professional and the other one is social.

    Both are quite famous on today’s date and not only over here but also in various web portals like Pitchbook, Exchange4media and many other websites Clovia has got a say of it correspondingly.

    Clovia – Advertisements and Social Media Campaigns

    Clovia recently campaigned featuring its employees and thought about socially creating ideas of elegance standards and promoting body positivity. This is the idea because Clovia is a lingerie brand and it especially concentrates on nightwear, swimwear and many more. The name of the recent campaign is, ‘Nothing but Real’.

    Here at this advertising campaign, the nightwear was showcased by the members themselves.

    Clovia – Competitors

    The competitors of the company are Triumph, Jockey, and Enamor.

    Triumph

    Triumph is one of the biggest rivals of the company Clovia! It is headquartered in Mumbai, Maharashtra, India and was founded in 1886. Triumph works in the Apparel Retail Industry.

    Jockey

    Jockey is also one of the top competitors of Clovia. It is headquartered in Kenosha, Wisconsin and was founded in 1876. Jockey competes in the same Apparel Retail Industry.

    Enamor

    Enamor is a top competitor of Clovia. It is headquartered in Bengaluru, Karnataka, India and was founded in 2001. Enamor works in the Apparel, Accessories and Fashion Sector.

    Clovia – Future Plans

    Clovia is planning towards entering the overseas market by next year! It is willing to open stores in the markets of Indonesia and Malaysia to enhance its international network. Since the brand Clovia did see good growth it is willing for an expansion soon.

    FAQs

    When was Clovia founded?

    Clovia was founded in 2012.

    Who is the founder of Clovia?

    Neha Kant, Pankaj Vermani and Suman Chowdhury are the founders of Clovia.

    Is Clovia an Indian brand?

    Yes, Clovia is an Indian brand based in Noida, U.P.

    Has Clovia been acquired by Reliance Retail?

    Reliance Retail acquired 89% stake in Clovia.

  • Innovations Caused by COVID-19 Pandemic

    The COVID-19 pandemic has changed every aspect of work and life this outbreak has resulted in many concerns all over the world. The pandemic is having a direct or indirect impact on many sectors such as airline profitability is getting impacted by low seat occupancy, supply chains are getting disrupted globally and retail stores are running out of dry goods and toilet paper in many countries which are eventually leading to an economic slowdown.

    The Covid-19 has already resulted in early signs of a shift in how consumers and businesses behave. For instance, pre-coronavirus crisis, only a few people had the experience of working remotely. But Coronavirus spread during the ongoing COVID-19 pandemic led many organizations to recommend their staff to work from home full-time. Some of these changes are direct, short-term responses to the crises which will revert to regular levels once Covid-19 is contained. However, some of these shifts will continue even after the coronavirus is contained such as creating a long-term digital disruption that will shape businesses for decades to come.

    History is evident that every economic recession and pandemic that happened in the past has changed the trajectory of governments, economies and businesses’ work culture which resulted in altering the course of history for years to come. The Black Death in the 1300s broke their conventional feudal system in Europe and replaced it with the more modern employment contract. Similarly, the great economic recession kick-started a major innovation drive that radically improved agricultural productivity.

    The COVID-19 pandemic has already changed many things in the corporate and business world, it is also going to shape the future of many businesses, startups, and governments in the coming future. Over the last few years, as the coronavirus has swept across the globe, we have all had to adjust our daily lives. The technologies which came into the limelight after the pandemic are taking over many conventional methods. Some of the Coronavirus innovations which are likely to come are discussed below.

    More Digitization in Learning
    Digital Administration will become Mainstream
    In-home Diagnostics
    Grocery E-commerce

    More Digitization in Learning

    Digitization in Learning

    COVID-19 is acting as a catalyst for educational institutions worldwide to search for innovative solutions in a relatively short period. Due to the lockdown, closure of many schools, colleges and institutions have started online teaching via interactive apps. The use of online learning platforms has increased massively. Students can take classes at their convenience and it is also helping their teachers to solve their queries, doubts effectively. Students are also making and sending their videos of athletic training and sports to their teachers as homework, making students do things differently.

    The interaction among students and teachers has increased. This slow pace of change in academic institutions globally is likely to take over old lecture-based approaches to teaching, conventional institutional classrooms. Currently, various creative solutions are being implemented around the globe. This has led the innovators to find more tools and technology to be used for educational purposes.

    With 5G technology becoming more prevalent in countries such as China, US and Japan, we will see learners and solution providers truly embracing the ‘learning anywhere, anytime’ concept of digital education in a range of formats. Thus, E-learning could become a habit that is integrated into daily routines.

    Digital Administration will become Mainstream

    The Covid-19 breakout has caused government administrators to take action quicker than ever before. South Korea drove rapid testing of over 200,000 of its citizens and used smartphones to tag the movement of the infected — alerting the non-infected of those movements via real-time updates. All of these efforts, as well as transparency of biological impact, could have been improved if there were more smart cities in the world.

    As governments learn from the Covid-19 experience, it will shift investment in favour of smart cities as it would be critical to have them in order better manage the pandemic event. Today also, many key players benefiting from this shift in gears would be smart governments, focused companies such as Cisco, Microsoft and Siemens as well as digital city startups across Europe and the US.

    It is straightforward to predict that the Covid-19 is going to be an accelerant for remote working as well as online education. This shift will likely impact the efficiency, productivity and mental health of workers throughout the globe and businesses need to prepare for it.

    For companies looking to add the human touch digitally to their workplace, the choices are limited today — with Humu, a startup by ex-google HR chief Laszlo Bock. A handful of other tech companies, such as Github and Automattic, which run predominately on a remote collaboration model can also choose to productize their insights and capabilities to help other companies cope. This will create many opportunities to develop such platforms that connect people from remote places and let them work remotely with more efficiency.

    In-home Diagnostics

    Though the trend of wearables has been growing in popularity over the past 5 years, driven mainly by Fitbit and Apple, there is some limitation in their features. However, new features are emerging as sensor technology continues to advance. The pandemic will potentially change this space forever.

    Today neither the Apple Watch nor the Fitbit measure body temperature. However, there is a bigger opportunity, outside of wearables will be the in-home diagnostics market. There will be a bigger shift towards virtual doctor appointments as a result of this.

    However, virtual doctor appointments don’t completely replace the need for in-person visits when patients need to take the standard flu test, strep test, or have their vitals read. But surely there will be more research in this field which provides many remedies in house only. The amount of new investment and focus on this space will accelerate the progress.

    Grocery E-commerce

    Ordering Groceries Online

    Before the coronavirus crisis, though there was a good demand for online shopping surprisingly there was a tiny demand for grocery e-commerce. According to sources, only 4% of Americans ordered groceries online before this crisis but in India, this demand is even lesser. But since stay-in-place orders went into effect, shoppers are shifting their grocery shopping online.

    This has meant a significant increase in demand for grocery retailers who relied on e-commerce as a small percentage of sales. Suddenly they’re dealing with many times their normal volume.  The consumer is learning that ordering online isn’t as challenging as once thought, and the retailer is learning to properly staff and fulfil these orders at scale.

    As the reliability of customers on online retailing is speeding up, there is going to be demand for online grocery shopping even after coronavirus is contained. So, this is likely to create opportunities for startups to develop more technologies that help in easing the grocery e-commerce experience. However, if the crisis does last longer, retailers will catch up to demand, the experience will improve, and shopping habits will be altered.

    Conclusion

    The Covid-19 pandemic has changed our perspective towards many things. This pandemic led people to think out of the box to make their lives easier which led to the discovery of many things. It has created opportunities for people to explore different fields and come up with something new.  

  • Milkbasket Success Story – Hyperlocal Grocery Delivery App

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Milkbasket.

    With a rising number of startups and the presence of many existing players in the industry, the customer acceptance of home delivery services is growing leaps and bounds. Living in the current era, we are surrounded by an increasing number of eCommerce platforms that offer almost everything and deliver all of these things right at our doorsteps.

    It is true that most of our daily needs are satisfied by the old and the newer players that are dominating the home delivery services, but for some of our daily needs, which are always in demand, like fresh milk, groceries, we often find a crunch, even if it is for a specific product. This is why many startups have solely dedicated their businesses to meet the growing requirements, thereby aiming to achieve a demand-supply equilibrium. One such startup that aims to take care of the fresh supply of milk and more is Milkbasket.

    Milkbasket is a subscription-based micro-delivery service that provides customers with the regular dairy necessities and household needs each morning. Within the first six months of its launch, Milkbasket claimed to have shipped 30 million orders.

    Founded by Anant Goel, Anurag Jain, Ashish Goel, and Yatish Talavdia in 2015, Milkbasket is a Haryana-based company that is currently owned and operated by Reliance Industries, when the latter acquired 96.49% stakes in Aaidea Solutions Private Limited Milkbasket parent in October 2021.

    Know more about Milkbasket’s startup story, business model, funding, revenue, growth, and more in the article ahead!

    Milkbasket – Company Highlights

    Startup Name Milkbasket
    Legal Name Doorstep Retail Solutions Pvt Ltd
    Headquarters Gurugram, India
    Industry Delivery Services, E-Commerce, Food and Beverage
    Founder Anant Goel, Anurag Jain, Ashish Goel, Yatish Talavdia
    Founded 2015
    Revenue $42.51 mn (INR 322 crore in FY2020)
    Total Funding $78.5 million (Feb 2021)
    Parent Organization Reliance Retail Ventures Limited
    Website milkbasket.com

    Milkbasket – Recent News
    About Milkbasket and How it Works?
    Milkbasket – Industry
    Milkbasket – Name, Logo and Tagline
    Milkbasket – Founders and Team
    Milkbasket – Startup Story
    Milkbasket – Vision and Mission
    Milkbasket – Business Model
    Milkbasket – Revenue and Growth
    Milkbasket – Funding and Investors
    Milkbasket – Competitors
    Milkbasket – Challenges Faced
    Milkbasket – Future Plans
    Milkbasket – FAQs

    Milkbasket – Conquering India’s Operational Complexities

    Milkbasket – Recent News

    October 23, 2021 – Reliance Industries’ subsidiary Reliance Retail Ventures Ltd completes the acquisition of Milkbasket by acquiring 96.49% stakes in the company.

    August 28, 2021 – Milkbasket, a daily grocery delivery app, has advanced its bid to go public in the second half of 2021, boosted by solid market growth in recent months despite the pandemic, according to a top company executive.

    “Milkbasket has a near-perfect record of reaching growth targets since being founded in 2015. The rapid adoption of at-home grocery delivery amongst consumers due to the pandemic has provided us with an impetus to target IPO in just a year, which we had initially planned for the year 2023,” Anant Goel (Milkbasket co-founder and CEO) said.

    About Milkbasket and How it Works?

    Milkbasket is a Gurugram-based company that creates an online grocery network to meet consumers’ everyday household needs.

    The company provides a simple delivery system that delivers milk, bread, eggs, butter, juices, and other everyday necessities and basic dairy amenities to users’ doorsteps every morning. The platform also allows them to keep track of daily expenditures, schedule vacation time off, and easily build repeat orders every day.

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    Milkbasket – Industry

    The Covid-19 pandemic has created a huge growth opportunity for the online grocery delivery sector, which predicted that India’s online grocery market could reach $3 billion in 2020, up from $1.7 billion in 2019. It is expected to grow at a CAGR of 37.1% from 2021 to 2028. The industry was valued at USD 2.9 billion in 2020. It has gained tremendous traction since 2020.

    Milkbasket – Name, Logo and Tagline

    ‘Milkbasket’ as the name suggests, was a milk delivery startup initially but later on decided to come up with a simple delivery system that delivers milk, bread, eggs, butter, juices, and other everyday necessities and basic dairy amenities to users’.

    Milkbasket Logo

    Milkbasket – Founders and Team

    Milkbasket was founded by Anant Goel, Anurag Jain, Ashish Goel, and Yatish Talavdia in 2015.

    Milkbasket's Founders
    Milkbasket’s Founders

    Anant Goel

    Anant V Goel was the founder and CEO of Milkbasket. Goel was a B.tech, Civil Engineering student of NIT Kurukshetra, after which he visited The Wharton School and INSEAD to complete MBA exchange and MBA, Strategy and Operations, Corporate Finance programs. Goel started his career at Tata Consultancy Services where he worked as a Project Leader and then went to Capgemini to join the company as a Sr. Strategy and Transformation Consultant. Goel then became the CEO and Managing Partner of UrSqft before founding Milkbasket and becoming its CEO. Gallup Consulting was another company where Anant Goel worked as an Associate Partner. Goel exited the company and stepped down from the CEO designation on August 23, 2021, after Milkbasket was acquired by Reliance Industries.

    Milkbasket Founder and former CEO Anant Goel  is all set to launch his new startup that will be based on the fruits and vegetable segment. It would be a consumer-centric platform that will delivery the fresh produce from farmers to the consumers, as per the sources close to the company and to the matter, reported on February 15, 2022.

    Anurag Jain

    Anurag Jain has been a co-founder of Milkbasket.com. He was also an alumnus of NIT Kurukshetra from where he completed a B.Tech degree in Civil Engineering. Jain later successfully pursued a PGDBM in Operations Management and Supervision from XLRI Jamshedpur. Anurag became a co-founder of Milkbasket after serving managerial roles in several companies like Spencer’s Retail, Cinepolis India, TPG Wholesale, and Samsung India.            

    Ashish Goel

    Ashish Goel served as the Co-founder and CTO/CPO of Milkbasket. A Mechanical Engineering student of Delhi College of Engineering, Ashish co-founded two companies –  Zamoona and UrSqFt before co-founding Milkbasket in 2015. Ashish Goel is currently serving as the CTO of ZipLoan after leaving Milkbasket in January 2021.

    Yatish Talvadia

    Yatish is currently hailed as the present CEO of Milkbasket after Anant exited the company. Talvadia has a Masters’ degree in Engineering/Industrial Management from Manipal Institute of Technology. Yatish was the Sr. Lecturer of JECRC and later served as a Core Team Member of Zamoona before co-founding Milkbasket with the 3 other founders of the company.  

    Milkbasket – Startup Story

    Ashish Goel availed of the ‘Milk and More’ service to deliver groceries and daily necessities to his home when he was in the U.K. This made Anant realize that India also needs one such service. However, entering around that time when the market was already being dominated by successful players like Grofers, Big Basket, LocalBaniya, and Peppertap, Milkbasket had only one intention, which is to stand as an alternative to the mom-and-pop stores of every Indian neighborhood.

    Milkbasket founders started in 2015 when they first set up a stall in an apartment complex in Gurugram. The founders soon got the first paying customer, who installed the app. The founding team of Milkbasket initially started to deliver milk by themselves, in their personal car. With the increasing demands, they eventually had to hire an autorickshaw to deliver it. The order volume further increased, which made Milkbasket partner with corporates and automotive companies and ultimately set up their own delivery fleet.    

    Milkbasket started off with just 22 customers in April 2015, and by the end of June of the same year, the team saw a growth of 30,000+ customers, and that too only in Gurugram. Ashish and Anant started with their initial capital seed of 50 Lacs.

    Milkbasket – Vision and Mission

    The company’s mission is to become the default mom and pop shop for over a million households. Milkbasket is by far the most cost-efficient model in the online grocery space as compared to its domestic and global competitors, accomplishing positive unit economics within about six months of launch. This is perhaps why the company has been acquired by Reliance.

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    Milkbasket – Business Model

    Milkbasket is a hyperlocal e-commerce company that believes in an inventory-based model where it sources its products directly from brands. Milkbasket co-founder Anant Goel believes that his company has developed a contactless hyper-local grocery delivery model. Customers can place orders before midnight and have them shipped by 7 a.m., according to Milkbasket.

    The e-grocery delivery startup doesn’t need checkout or payment because the purchase is prepaid with the help of a mobile wallet that is on the app. Therefore, the users can simply top it up whenever they run out of funds. Milkbasket earns from its delivery charges, subscriptions, and commissions from each transaction.

    Milkbasket – Revenue and Growth

    Milkbasket, a hyperlocal distribution startup based in Gurugram, announced a 3.8X increase in revenue in 2020, which ended in March last year, with only a small increase in losses. In 2020, the company reported revenue of INR 322 crore, of which 99.9% (INR 321.7 crore) came from operations.

    In 2020, the hyperlocal startup’s expenses rose at the same pace, to INR 337.7 Cr, bringing its losses to INR 15.7 Cr. In 2019, the company posted revenue of INR 84.6 Cr and expenses of INR 94.1 Cr, resulting in a loss of INR 9.5 Cr. Over the same time frame, it received around 99.7% (INR 84.4 Cr) from its operations.

    Milkbasket is based on the habit of people residing in India, of having milk delivered to one’s doorstep every morning, and the company only delivers during one delivery slot, from 5 a.m. to 7 a.m. By October 2017 they had delivered around 1.5 million orders and employed around 200 people.

    Milkbasket had earlier displayed an annual sales run rate of around USD 100 million, delivering over 9,000 items across FMCG, dairy, fruits, and vegetable categories in Indian cities including Hyderabad, Dwarka, Delhi, Bengaluru, Ghaziabad, Gurgaon, and Noida).

    MbBulk and senior citizens-only helplines were also introduced in several cities to help people stay on lockdown without having to go out for groceries and dairy products. Within the first six months of its launch, Milkbasket successfully shipped around 30 million orders and achieved positive unit economics.

    The company has been in high demand since the lockdown began, as demand for hyperlocal grocery delivery has increased dramatically. During the lockdown, many companies with a logistics and distribution backbone, such as Swiggy and Zomato, switched to grocery delivery as these were the only essentials in demand across the board.

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    Milkbasket – Funding and Investors

    Over the course of 11 rounds of funding, Milkbasket has raised total funding of $78.5 million. Milkbasket’s Investors’ include InnoVen Capital, Inflection Point Ventures, Mayfield Capital, Kalaari Capital, Blume Ventures among others.

    Date Round Amount Lead Investors
    Oct 23, 2021 – $40M Reliance Retail
    May 13, 2020 Series B $5.5M Inflection Point Ventures
    Jun 27, 2019 Debt Financing ₹150M InnoVen Capital
    Jun 4, 2019 Series B $10.5M Unilever Ventures
    Dec 19, 2018 Series A $7M Mayfield Fund
    Nov 12, 2018 Series A $100M Mayfield Fund
    May 22, 2018 Series A $7M Kalaari Capital
    Jan 23, 2018 Seed Round $3M Unilever Ventures
    Aug 23, 2017 Seed Round $840.9K Blume Ventures, Lenovo Capital and Incubator Group (LCIG)
    Dec 1, 2016 Seed Round $634.9K —
    Apr 26, 2016 Seed Round $500K EVC Ventures

    Milkbasket – Competitors

    The top competitors in Milkbasket’s competitive set are –

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    Milkbasket – Challenges Faced

    Though Milkbasket initially started fine with the capital pool from the founders, the app has faced money crunches in regular intervals, which has been one of the major challenges of the company. Milkbasket was ultimately acquired by Reliance Retail and two senior executives of Reliance Industries Limited – Nikhil K Chakrapani, CFO of Reliance Retail and Rajendra Kamath, CFO of Reliance Content Management have joined the board of directors of Milkbasket as additional directors.

    Milkbasket – Future Plans

    According to a top company executive, Milkbasket has advanced its intention to pursue an initial public offering by the second half of 2021, boosted by solid market growth in recent months despite the pandemic. The widespread adoption of at-home delivery services among shoppers during the coronavirus disease outbreak, according to Anant Goel, has opened an opportunity to target an IPO in less than a year.

    “Milkbasket has a near-perfect record of reaching growth targets since being founded in 2015. The rapid adoption of at-home grocery delivery amongst consumers due to the pandemic has provided us with an impetus to target IPO in just a year, which we had initially planned for the year 2023,” he said.

    However, the company didn’t manage to go public till now. Milkbasket is currently looking forward to expanding its range of offerings and is looking for profitability after being taken over by Reliance. The company is also deemed to be a part of the Reliance super app.

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    Milkbasket – FAQs

    What does Milkbasket do?

    The company provides a simple delivery system that delivers milk, bread, eggs, butter, juices, and other everyday necessities and basic dairy amenities to users’ doorsteps every morning.

    Who founded Milkbasket?

    Milkbasket was founded by Anant Goel, Anurag Jain, Ashish Goel and Yatish Talavdia in 2015.

    What companies do Milkbasket compete with?

    The top competitors in Milkbasket’s competitive set are Supr Daily, DailyNinja, BB Daily, Town Essentials, Amshop, RainCan, ZopSmart, PepperTap, Big Basket, Grofers, Dunzo, Zomato and Swiggy.

  • Top 10 Business Ideas to Start in UAE

    As an entrepreneur, one must always think and plan to expand his or her business and always be on the lookout for opportunities. These opportunities can be in your home country or the land the of wealthy, UAE. The lifestyle in the UAE is posh and lux since it is home to some of the wealthiest people in the world.

    Trading or manufacturing quality goods or providing worthy service can take to new financial heights as people here are willing to spend money on quality goods and services. With a growing population, needs are increasing and so are the opportunities.

    Top 10 Business Ideas to Start in UAE

    1. Construction Agency
    2. Real Estate Agency
    3. Business in Health Sector
    4. Consultancy Service
    5. Beauty Brand or Store
    6. E-commerce Solutions
    7. Fish Farming
    8. Recycling
    9. Security Service
    10. Jewellery Making

    How to start a business in UAE

    Top 10 Business Ideas to Start in UAE

    If your wish to start your business in the UAE, below are some best business ideas that you can choose from.

    Construction Agency

    Constriction Business in UAE - Business ideas in Dubai
    Constriction Business in UAE – Business ideas in Dubai

    A Construction Agency in the UAE can be one of your best bets if wish to start a new business.  Due to numerous foreign investors seeking residential opportunities in Dubai and booming real estate has led to increased opportunity in the construction sector. Your agency can build for residential as well as commercial projects. It is one of the most profitable ventures in the UAE.

    Real Estate Agency

    Real Estate Agency in UAE - Business ideas in Dubai
    Real Estate Agency in UAE – Business ideas in Dubai

    Real estate has one of the greatest business opportunities in Dubai. There is almost a race going on for skyscrapers. The main reasons for this include increasing rent moderation, supply, and changing demand for executive positions in the employment market. Therefore, it could be a great opportunity for real estate entrepreneurs to initiate a real estate business in the UAE, especially in Dubai

    Business in Health Sector

    Healthcare Business in UAE - Business ideas in Dubai
    Healthcare Business in UAE – Business ideas in Dubai

    The UAE has reported higher birth rates, increased life expectancy, a rapidly shifting epidemiology profile, and a rise in the incidence of noncommunicable diseases. All these factors, combined with a shortage of healthcare workers, and low insurance penetration rates, create bright opportunities for firms looking to enter the health care sector in the UAE.

    Many big players in the health sector of UAE from the Gulf Capital itself and also London have seen splendid numbers in revenue. The investment bank Alpen Capital has estimated the healthcare spending in the UAE to expand by 13.1% annually in the next four years. This means that entrepreneurs looking to enter the healthcare sector in the UAE can have a healthy future.

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    Consultancy Service

    Consultancy Business in UAE - Business ideas in Dubai
    Consultancy Business in UAE – Business ideas in Dubai

    With the increasing number of businesses in the UAE, the need for consulting services is at an all-time high. Most of the companies in the UAE are new and at the incubation phase so they require advisory for efficient resource management.

    These companies generally outsource their planning and strategy to skillful consultants for more accurate and achievable solutions. Therefore, starting a consultancy can be very profitable since there’s no scarcity of clients in the UAE marketplace.

    Beauty Brand or Store

    Beauty Store Business in UAE - Business ideas in Dubai
    Beauty Store Business in UAE – Business ideas in Dubai

    The UAE is the land of wealthy consumers that are very much interested in beauty products. It is one of the best marketplaces for luxury beauty brands to thrive and trader to generate amazing sales. People are willing to spend their money on expensive products if they’re worth it.

    The diverse market has many options to choose from. Skincare, Makeup, Haircare, and Fragrances back their seller with great profits. Fragrances constitute a major chunk of the revenue as it is widely used in UAE. If you manage to build a great collection, there’s no limit to what you can achieve.

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    E-commerce Solutions

    E commerce business in UAE
    E commerce business in UAE – Business ideas in Dubai

    The Covid-19 pandemic proved to be a catalyst in the growth of the online business sector. It accelerated the growth of e-commerce to new heights. Just in the initial months of 2020, UAE saw a 300% increase in the demand for e-commerce among its customers. Thus, a company to provide easy ways out to such business owners are bound to make profits.

    Since many established brands are tilting towards e-commerce, it inevitable that they’re going to need expert solutions in the process which such companies are going to provide.

    Fish Farming

    The UAE primarily depends on imports to meet its food supply demands. To ensure food security, the government is encouraging foreign and local investments in aquaculture developments. They are willing to provide several incentives for the sector, along with fingerlings of local species, curating aquaculture frameworks, reducing institutional and investment constraints, and mapping out suitable sites for development.

    These incentives are coupled with the gradual increase in fish prices have made aquaculture in the region an attractive investment and business proposition.

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    Recycling

    Recycling Business in UAE - Business ideas in Dubai
    Recycling Business in UAE – Business ideas in Dubai

    Recycling is a relatively infamous yet profitable business. People have made millions in waste. Retail outlets in malls and high-end stores undergo a revamping procedure every two to three years as part of a clean image campaign. This creates opportunity and revenue for contractors.

    UAE government is working towards supporting such businesses as they need to manage their overall waste generated each year. Recycling also has great potential in the construction sector as it accounts for 60-70% of the total waste generated.

    Security Service

    Security service business in UAE - Business ideas in Dubai
    Security service business in UAE – Business ideas in Dubai

    There are Security Companies in the UAE that protect the people, private properties, and government entities. It is a profitable business option as there will always be a demand for security guards in the UAE. But you need to decide on a free zone or mainland setup.

    If you choose to establish your business in the mainland, you can freely trade with the local market. You can bid for government contracts that can be quite lucrative. On the other hand, is a free zone, you get 100% exemption from customs tax.

    Jewellery Making

    Home to numerous wealthiest individuals from the world, UAE is the perfect place to line up a jewellery company. The government has created specific rules and regulations to impose check-ups on those who bring gold or other valuable metals which are sold within the Dubai Souk.

    The UAE jewellery market had grossed 12 billion dirhams by 2020. Dubai leads the UAE jewellery market as it has tourists who find it cheaper than their home countries and enjoy an outstanding range of exquisite jewellery.

    Conclusion

    These were some fields in which you can make great profits in the UAE. With supportive laws, some of these sectors can also be sustainable in the long run. Rising demands are creating a market for new businesses that generate great sales and build a strong customer base. You too can establish a successful business in the UAE if you play by the rules, understand the culture, and offer quality service.

    FAQs

    Which business is profitable in UAE?

    Real estate, Business Consultancy and Healthcare are some of the profitable business ideas you can start in UAE.

    Is UAE good for business?

    Low tax rates, low import duties, free trade agreements, state of the art infrastructure, and a lot of other benefits makes the United Arab Emirates (UAE) a great place to start a new business.

    Can a Foreigner start business in Dubai?

    Yes, Any Foreigner can start a business in Dubai.

  • Success Story Of 10Club Startup: Helping Entrepreneurs & E-Commerce Business Grow

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by 10Club.

    Each and every business is unique and respectable in its own way. Planning only for business growth is certainly a good idea but before that, it is essential for the founders/entrepreneurs to go to the depth of the matters to achieve something big and credible.

    10Club believes in Data + Insights = Scale + Efficiency. This is the only formula the company follows. This organization believes to go down to the depth of the matters individually and build the foundation of successful businesses. The company ensures that great entrepreneurs will surely reach great heights one day because these people have already taken greater risks.

    Read the 10Club success story below to understand the company better with useful insights from its Founders and Team, Tagline, Slogan, Logo, Business model, Revenue model, Funding and investors, Growth, Future plans, and more.

    10Club – Company Highlights

    Company Name 10Club
    Headquarters Bangalore, Karnataka, India
    Sector Consumer Goods and E-Commerce
    Founders Bhavna Suresh, Deepak Nair and Joel Ayala
    Founded 2021
    Website 10club.team

    10Club – Latest News
    10Club – About
    10Club – Founders and Team
    10Club – Tagline, Slogan and Logo
    10Club – Business Model
    10Club – Revenue Model
    10Club – Funding and Investors
    10Club – Growth
    10Club – Acquisitions
    10Club – Future Plans
    10Club – FAQs

    10Club – Latest News

    21 September, 2021 – 10Club announces the acquisition of My Newborn, a brand selling baby products, which is the first acquisition of the brand.  

    10Club founders talking about the success story of 10Club

    10Club – About

    In today’s daily life great businesses are growing, holding the hands of competent entrepreneurs. Competition is always really very tough in the marketplace and as a result, these companies get their foundational years right but often face difficulties to understand their current position in the market. This is where companies like 10Club step into the scenario. The aim of 10Club is to allow these great entrepreneurs to enjoy rapid growth and participation hassle-free. 10Club is a trustworthy company on which entrepreneurs can be sure of.

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    10Club – Founders and Team

    Bhavna Suresh is the co-founder and the CEO of the company. Deepak Nair and Joel Ayala are the other co-founders of the company, 10Club.

    Bhavna Suresh

    She is the co-founder and the CEO of the company 10Club. She is an entrepreneur, who started her career as a Business Development Manager at 22feet Tribal Worldwide. Bhavna is also known as the founder of another company, StyleBank, and the CEO of Lamudi Philippines.

    Deepak Nair

    He is the co-founder of the company 10Club. He works as a business strategist, digital marketer, and also as advertising strategist. He previously worked as the CEO of White Canvas Communications Pvt Ltd. Deepak was also the Chief Executive Officer at 22feet Tribal Worldwide.

    Bhavna Suresh, Deepak Nair and Joel Ayala | 10Club Co-founders
    Bhavna Suresh, Deepak Nair and Joel Ayala (Left to Right) Co-Founders of 10Club

    Joel Ayala

    Joel Ayala is another Co-founder of 10Club and also known as the Co-founder and Managing Partner at Class 5 Global LLC, a venture firm that aims to invest in the next generation of global entrepreneurs.

    The tagline of the company is, ‘Sach Ke Sath‘.

    10Club Logo
    10Club Logo

    10Club – Business Model

    The business model of this company is very unique. The company believes in working together, going into depth, operating and growing e-commerce startup businesses. 10Club has a tried and tested model. It works quickly and provides its clients with the best possible and actionable insights which help the entrepreneurs to understand where exactly their new business is standing in the marketplace and how to take it forward towards growth and success.

    10Club – Revenue Model

    The revenue model of the company is very simple. By using simple words, we can say that the company 10Club is taking all the responsibilities of a new entrepreneur who has just started his/her new business.

    • Business Review – a valuation of the entire business based on the potentiality and performance is established after the connection.
    • Paper Agreement – verification of all of the financial statements is done simultaneously. Contracts and other agreements are prepared too.
    • Fund Transfer – paperwork will be signed by both parties. Data analysis will be done and initially, the process will be taking 6 to 8 weeks.
    • Business Integration – optimization is done.
    • Business Acceleration – data analysis and expert insights are provided or showcased to scale the newly growing business.

    By following all the above-mentioned processes the company collects a good amount of revenue from each startup business it is connected to.

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    10Club – Funding and Investors

    10Club has raised a total amount of $40 million in funding over the one funding round. 10Club is funded by six investors. Fireside Ventures is the lead investor, followed by Secocha Ventures, HeyDay, PDS International, Class 5 Global, and boAt founders.

    Date Transaction Name Money Raised Lead Investor
    June 29, 2021 Seed Round $40 million Fireside Ventures, HeyDay, PDS International

    10Club – Growth

    As mentioned above, the company raised $40 million in the funding round and it is one of the largest seed rounds in the e-commerce roll up space. Since it is one of the largest ones that is why it is a big matter of talk now and more or less everybody knows about it.

    10Club – Acquisitions

    10Club has acquired 5 companies in total. The company last acquired 3 gardening startups – Kraftseeds, Gate Garden, and Kriti Kalash on November 19, 2021. This acquisition would further help the company to scale through product mixes, sales channel expansion, and pricing models. My Newborn was the maiden acquisition of 10Club on September 21, 2021, after which it acquired Skudgear on September 30, 2021.

    Acquiree Name Date Price
    Kriti Kalash November 19, 2021 –
    Gate Garden November 19, 2021 –
    Kraftseeds November 19, 2021 –
    Skudgear September 30, 2021 –
    My Newborn September 21, 2021 –

    10Club – Future Plans

    The company 10Club wants to create a better space for startups. It wants to collaborate with promising businesses on e-commerce platforms and roll them up to help them grow. Startups often fail to manage everything after the initial months of growth that they gain in the beginning. Competition has undoubtedly increased in the marketplace over time but all of the existing companies want growth. This is why 10Club has set out in the market to aid such startup companies with more technology, supply chain, and marketing expertise in the future. More and more funding will help the company to expand its portfolio and bring changes for the upcoming startup businesses to acquire.

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    10Club – FAQs

    What is 10Club startup?

    10club is a Bangalore-based startup that acquires small e-commerce platforms and scales up those businesses.

    Who is the founder of 10Club?

    Bhavna Suresh, Deepak Nair, and Joel Ayala are the other co-founders of  10Club startup.

    When was 10Club founded?

    10Club startup was founded in 2021.