Started in January 2011, LetsShop.in is 100% dedicated towards customer happiness. We have 5 major categories Mobiles, Computers, Watches, Home Appliances and Consumer Electronics. Our motive is to provide products from these categories at the best price and deliver them as quickly as possible. Our strengths lie in our sourcing and fast delivery. We are able to deliver most of our orders in flat 72 hours from the time of order.
Please define the market landscape that you cater to:
At present we are catering to 5 categories mainly. Which are mobiles, computers, watches, home appliances and consumer electronics.
What are your Product/ Solution offerings & Value Proposition to clients?
Our core strengths lies in our sourcing and fulfillment, which enables us to offer best prices on brand name products and also deliver these to customers in shortest possible time frame.
What are the differentiating points of your product/ solution/ services against that of the competition?
Since we buy from highest level in distribution cycle, our pricing is very dynamic and changes with market prices every day. Consumer can actually buy the product as per current market price. Also, we are able to deliver the product quickly; most of our orders are delivered within 72 hours of the order origination time; and in some cases we are also able to deliver within 24 hours.
Can you provide examples of your clients and how they have benefitted from your offerings?
We have number of corporate and individual clients who regularly buy from us; we are also enrolled on to reward programs with some of our corporate clients. The reason they buy from us and will keep on buying from us is simply pricing advantage, clear cut policies and off course quickest deliveries.
In the segment that you address, what are some of the trends you see in the market landscape and how are your offerings geared towards addressing those trends?
Online Shopping is no longer aberrant in India. I see myself shopping online atleast once a week, hence it is there to stay for sure and with the growing number of internet users and increasing payment methods, there is definitely a good and sizable market in India. With the services like Cash on Delivery, it has now become really easy for virtually every one in India to make their purchase online. Question is how do you handle so many customers?
Can you describe Competition? How intense is it and how uniquely you are positioned?
E-tailing in India is full of competition today, with the number of e-tailers opening shops every day, competition is even increasing. However, it is good in a way; as it gives us a chance to further improvise and position us better than our competition in front of the customer. More the choices for the consumer; better it gets. Apart from our pricing and quick deliveries, we also happily accept and replace DOA products from our customers. Which is sans in most of the other cases.
Can you elaborate on your Organizational Culture, Employee programs, Innovations etc?
I strongly believe a bonded team is an integral part of any organization, as it keeps you and your team members motivated.
Things you will notice in our office:
- There are no cabins – no partitions; we all sit in the common bay. This has helped us to get more conversant with each other and we are able to share a lot of ideas more openly.
- People laughing – smiling, poking fun and at the end of the day delivering their deliverables.
- Cross Trainings.
- Lot of youngsters, infact average age of our team is 23
We do lot of fun stuff, there is a group outing once a month. Team bonding activities/ games we play every Saturday. We all have our lunch together every day and do share our meals and I think most important mandate we have recently made is, everyone has to sit on the customer line atleast for one day in a month. This has actually helped us and to be honest; every one understand the customer better.
Current Status: No. of Employees, Revenue, Investors, Investment opportunity.
At present we are a team of 25 members. We are doing around 1000 orders a month with average ticket price of 12000. With the consistent and steady growth, we have successfully bootstrapped LetsShop.in so far. We haven’t thought about outside investment till now, however, we are open to any good offer and value ads.
Road Ahead: What are the challenges you foresee and how is the company geared to address those challenges?
For any e-business to thrive, fulfillment is most crucial part. Getting the orders is fine, however, delivering them to the customers within time and most importantly surprising them with even quicker deliveries is something that we see as biggest challenge. We are planning to start our own delivery centers in major metros, just to quicken the process and decreasing the turn around time to 24 – 48 hours atleast for metro cities.