We have been listening about the emergence of e-commerce in Indian market and how the people are going crazy over the offers and service these e-commerce giants are providing, but around so much craziness and noise everyone has ignored the fact that still more than 55% people are unsatisfied with their online buying experience and more over more than 15 millions resist to shop online after being exposed to internet.
The reason for these big number based on consumer buying behaviour are :
- People like to try out the stuff or at least see the stuffs they are buying and it’s quite natural if we observe the traditional ways of buying i.e when customer actually validates its requirement to the product
- People like to understand about the product, not just mere information
- People love personalized form of shopping where they can take suggestion from someone
- People often get confused after watching so many products
Currently no company in the market is trying to tackle this problem, thus founder’s of TryKaro decided to tackle it. They aims to build a name which users can trust for their shopping query and help them in making better buying decisions, as per one of the co-founder, technology is the main armour in their solution which will be solving the majority of problem but with human based interface to keep it real to the users therefore TryKaro uses blend of technology and traditional methods for solving this problem. The founders define trykaro as “TryKaro is a platform to minimize the risk involved in buying of products/services through technology driven approach mixed with actual human interfaces. TryKaro is a web & mobile based platform where users can get trial of product before buying, thus helps in making better buying decision. Simultaneously TryKaro helps in companies in reaching out to new users, understanding their buying patterns and users in making better informed buying decisions based on lifestyle using technological tools like machine learning, artificial intelligence, virtual reality, 3D modelling with a coated layer of human interface which helps in understanding the users in a better manners.”
Helping consumers in assessing the risk which they put while buying the product by using blend of cutting edge technology in mobile and web application using AR and traditional methods of trying the product before they buy so consumers can make better buying decision.
TryKaro has a sales of GMV of about INR3,00,000/- in the beta launch within 2 month. They had a about 150+ orders delivered in 2 month and now the number of orders are increased to about 5-8 orders per days. There are approximate 1000 registered users. TryKaro is growing at a rate of 25% M-O-M.
They are recognized by 3 Startup award programs in technology and innovation field
1. Were among top 30 startup in Amrita TBI (Technology Business Incubator) pitch-feast for innovative startup, it is a government of India Initiative Program
2. Won the hottest tech startup award for 2015
3. Won Indian Startup Entrepreneurship & Disruptive Innovation Awards 2015
OPPORTUNITIES & KEY CHALLENGE
As a opportunity we can say in indian e-commerce market satisfaction rate is very less and there is high return of product by customers due to unmet expectation and quality. For the sectors we are working, overall market size is :-
“The size of Indian cosmetics market will rise by almost to $1.5 billion from the current $950 million in the next two years.” – ASSOCHAM
“The current size of Indian electronics market stands at $7.23 billion and is expected to reach $17 billion by the end of 2018.” –
“The current size of Indian fashion market stands at $38.5 billion and is growing rapidly.”-
The biggest challenge is create awareness among people that they must include TryKaro as the option in their selection process when they are buying product or services where their value of product is high or the impact of the product is high.
Company is bootstrapped till now, looking forward to raise fund of 150k in angel round. Initially in next 2 quarter of 2016 they are focusing on team building, customer engagement and customer acquisition. At the conclusion of these activities, the company expects to be in a position to begin the data syndication campaigns by 2016 Q3. And want to expand its operation in other major cities and be one of the major company in understanding consumer buying behaviour and provide customer centric user experience and will be handing the trial part of major companies for delivering the best customer centric user experience and understanding their buying behaviour .
THE TEAM BEHIND
(1) Brij Purohit :has worked in Samsung on cutting edge latest technologies for about 2 yrs then joined the cloud security startup. also filed 4 patents, Having great sense of Business and vision for product.
(2) Gaurav Manchanda :has great coding skills in almost all technologies, is always on toes for writing tonnes of line of beautiful looking for Technology.
(3) Pankaj Agarwal :brought up in business family having no official financial degrees as per say but no can beat him in finance and plus point is his nature which brings up the power to get work done. Is looking for financial and operation.
(4) Venkatesh : IIM-B Grad having industry exp of more than 20 years with bigger names adobe and yahoo. is looking for sales and strategy options and guiding us in best possible manner.