Surpluss.in bags “Specialty e-Retailer of the Year Award 2015”

Ecommerce brand Surpluss.in has bagged the “Specialty e-Retailer of the Year Award 2015” during a ceremony held in Hotel Hyatt Regency Gurgaon on the first day of the Indian e-Retail Congress and Awards 2015.
surpluss
Surpluss.in is India’s number one store for Unboxed, Refurbished, Surplus and New Product Deals. Surpluss.in has received this award for – niche proposition, great deals, fast growth, high loyalty among users and excellent user experience.

The award was received by Mr Amit Gupta,   Promoter and Director Surpluss.in. He said, “This win is very prestigious for us and it inspires us to continue our unrelenting journey in the space of specialty e-retail and innovation.”

Comparatively a younger player in burgeoning ecommerce industry, Surpluss.in, retails handpicked genuine products adhering to brand’s international standards and quality parameters. The product range covers   Mobile Phones, Tablets, Laptops, LED TV as also high street fashion labels.

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MBA graduates eye e-commerce jobs in India

In a stamp of approval for the fast-growing startup ecosystem in the country, one-fourth of MBA students from across India’s top-tier business schools, including the IIMs, said they would prefer working for the fledgling e-commerce sector, pipping traditional favourites like consulting and financial services jobs.

The sector, which has been flush with funds on the back of growing adoption of online shopping, is now the second most preferred job avenue for B-school graduates after the FMCG industry.

Continuing with its rapid acceptance among management graduates, e-commerce has dethroned management consultancy from the second spot for the first time this year even as sectors such as manufacturing, software and IT services fell out of the top 10 league, said findings from a survey conducted by global market research firm Nielsen and shared exclusively with TOI.

Investment banking, a much coveted sector for MBA graduates in the pre-economic crisis days, is now at a lowly 10th spot, having lost its sheen internationally and in India among MBAs. Investment banks with fat bonuses on offer were a big draw before the collapse of Lehman Brothers in 2008.

What is significant though is that despite economic uncertainty still looming large, the trend of young MBA graduates looking to board the startup bandwagon has only gone up over the past couple of years in India.

Nielsen India’s Campus recruiter Index, an annual survey mapping preferred career choices of 1,600 MBA students from the top 35 management institutions, ranked Hindustan Unilever on top of the list of recruiters followed by Procter & Gamble and Google.

E-commerce companies made a total of 81 offers constituting about 28% of the overall technology offers at ISB, where leading the pack were Amazon, Flipkart, InMobi and Myntra.com. The year witnessed a 50% increase in the number of startups participating in the placements process, Menon said. Many new startups like Silicon Valley venture capital fund Sequoia Capital-backed BankBazaar.com and Zomato came to ISB for the first time.

At IIM-Calcutta, the world’s largest online retailer Amazon made the highest number of offers on campus at 16 for leadership and operations roles.

“Two years back, students graduating from top B-schools like the IIMs would ask if there was job security in e-commerce. They wanted jobs in consulting and I-banks. But things have changed quite dramatically as these youngsters realize jobs in startups offer a larger canvas for them to make an impact,” said Kunal Bahl, co-founder, Snapdeal, which is backed by eBay and other top VC funds. Bahl, a Wharton graduate, said Snapdeal hired around 25 MBA graduates from different IIMs this year.

Sankarshan Basu, chairperson, career development services at IIM Bangalore, said consulting and finance occupied the top spots with close to half of the graduating batch joining them while FMCG, e-commerce and technology companies hired the remaining 50%. XLRI’s placement chairman Rajiv Mishra said FMCG had maintained its pole position at the B-school this year.

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60% Of Global Consumers More Likely to Buy New Products from Familiar Brands-Nielsen

nielsenAccording to a recent Nielsen Global Survey of New Product Purchase Sentiment, around 60% of global consumers with Internet access prefer to buy new products from a familiar brand rather than switch to a new brand.  The Nielsen Global Survey of New Product Purchase Sentiment surveyed more than 29,000 Internet respondents in 58 countries about new product awareness.

The survey found that 50% of the global respondents are generally willing to consider a new product purchase, with respondents in North America and the Middle East/Africa (57%) being the most enthusiastic about making a switch. Nielsen’s survey also found that more than two-thirds (64%) of respondents would consider value or store-brand options, and two-thirds (60%) will wait until a new innovation has proven itself before making a purchase.

According to the survey, economic factors also play a key role in purchase decisions, as 45 percent of global respondents reported that challenging economic conditions make them less likely to try a new product. Four in 10 respondents (39%) indicated a willingness to pay a premium price for a new product.

The survey also revealed that 40% of global respondents are partial toward local options, with North Americans most in favor of local brands (47%). Asia-Pacific respondents are less likely to make a local purchase – more than one-quarter (26%) said they do not prefer to buy local brands over large global brands.

According to the survey word-of-mouth advice from family and friends is the most persuasive source of new product information for 77 percent of global respondents, followed by traditional television advertising (59%). Globally, respondents say the Internet is very or somewhat important when making a new product purchase decision for food and beverages (62%), personal hygiene categories (62%), personal health/over-the-counter medicines (61%), and hair care categories (60%).

The survey found that in-store discovery continues to be a huge driver of awareness with 72% becoming aware of new products due to in-store advertising and information. Freebies play a big part, too, with 70% discovering a new product via this route. Of other marketing channels TV is next with 59% followed by print ads with 54%.

“There is no one-size-fits-all approach to successfully developing and marketing a compelling new product,” said Wengel. “By focusing on unmet needs, creating a distinct solution, and developing a market-ready offer, marketers and manufacturers will create the best opportunity to ensure their product delivers on core demand insight and is ultimately adopted by consumers. However, ensuring consumers are aware of the product and can find it on store shelves is just as critical as coming up with that winning new product idea.”

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Updated List of Online Shopping/eCommerce Sites in India

We have updated this list of eCommerce shopping sites in India. Following is the link

http://www.wirelessduniya.com/2011/06/10/list-of-ecommerce-sites-in-india/

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E-Commerce Set For A Steady Growth In 2013 – IAMAI

ecommerceAccording to the IAMAI Internet Watch Report, e-Tailing is witnessing steady growth and 2013 promises to be an interesting year for the e-Commerce industry. The report revealed that while 2012 witnessed consolidation and increase in e-Commerce, the current year looks set for exponential growth.

At a panel discussion at the 7th India Digital Summit organized by the Internet & Mobile Association of India titled “e-Commerce 2.0 – Emerging Trend”, many industry experts discussed threadbare the opportunities that lie ahead in 2013. Chaired by Avnish Bajaj, Managing Director – Matrix Partners, the session saw participation from Alok Mittal, Managing Partner – Canaan Partners India, Sachin Bansal, Co-Founder & CEO – Flipkart, Sundeep Malhotra, CEO – Homeshop18, Murlikrishnan B. Country Manager – eBay, Mukesh Bansal, Founder – Myntra.com and Ankur Warikoo, CEO – Groupon India.

Discussing about new users, devices and new business models, Mukesh Bansal reiterated that acceptance for e-commerce has evolved in 2012 and will witness growth in tier 2-3 cities. However, Murlikrishnan B. had a word of caution. According to him, “while the year 2012 was a year of engagement and supply dynamics to evolve, 2013 will be a year of reality check.’

According to Sundeep Malhotra, women are driving the e-commerce category and will continue to do so. The same trend can be seen the monthly tracker ‘Internet Economy Watch’ by IAMAI where a tremendous and steady growth has been seen in e-tailing of fashion accessories, branded apparel and footwear segment, a category dominated by women heavily. As per the latest data, the branded apparel and footwear segment has seen a y-o-y growth of 56% and 71% respectively.

However, according to Alok Mittal the new e-commerce companies have to evolve unique strategies in the competitive world. With the market size still being naïve, the need to integrate all mediums to reach consumers across platforms is required. As Sachin Bansal puts it, “Better online experience is what e-commerce companies should aim at.”

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Virtual Piggy Partners With WorldPay For Global Expansion

Virtual Piggy, Inc. has entered into a Strategic Partnership with WorldPay facilitating further expansion of the Virtual Piggy eCommerce service in the international marketplace.

Virtual Piggy allows parents to set up a monthly allowance for their children and promotes financial management, while empowering youth under 21 to make purchasing, saving and other money management decisions for themselves, within the boundaries setup by parents. Since its inception, Virtual Piggy has been designed to support transactions in over 100 different currencies.

Commenting on the partnership, Dr. Jo Webber, CEO and Founder of Virtual Piggy said,”Our partnership with WorldPay will ensure that the complex details of international payment preferences are addressed by our combined alternative payment and currency support.”

WorldPay is the largest merchant acquirer in Europe and one of the largest globally, operating in more than forty countries, 120 transaction currencies and fourteen settlement currencies. Significantly WorldPay also supports more than 200 alternative payment solutions to eCommerce merchants worldwide.

Virtual Piggy, Inc. is the first e-commerce solution that enables kids to manage and spend money within a parent-controlled environment. The technology company delivers online security platforms designed for the Under 21 age group in the global online market, and also enables online businesses the ability to function in a manner consistent with the Children’s Online Privacy Protection Act (“COPPA”) and similar international children’s privacy laws.

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Exclusive Interview: Chandra Sekhar Reddy, CEO Sports365.in

We spoke to Chandra Sekhar CEO of Sports365 on how Sports365 is making a mark in the eCommerce space focusing on the Sports industry.

WD: What is your site all about? What problem are you solving?

CS: Live Sports365 E-Retail Pvt. Ltd  is India’s first professionally managed, comprehensive sports solutions provider to both individuals and institutions. Our portal, www.sports365.in, is an online sports shop offering 8,000+ sports goods and fitness equipment covering 90+ international and national sports brands. From badminton racquets, cricket bats, walking shoes and sports apparel we deal in a variety of products. In short, Sports365 is your one stop shop for sport equipment online. In addition to the online portal, as a part of our B2B business, we work extensively with corporates, schools and colleges, sports clubs and academies, residential properties, and hotels to offer turn-key solutions pertaining to sports infrastructure and merchandise.

We believe that the mindset towards sports is changing as our country is witnessing a “sports revolution”. Although we are heading towards this “sports revolution” there are still some challenges. Firstly, limited buying advice makes it difficult for customers to purchase the right product. To help customers making better buying decisions we have a Live Chat option and also have comprehensive buying guides for various products. As there are many technical aspects to sports goods customers require proper advice on the same to make the best buying decisions.

Secondly, access quality sports products end within the limits of metro cities, for customers outside this sphere it is a challenge to shop for good sports goods. Thirdly, affordability is another impediment that customers today face. Since there are availability and supply constraints sports equipment is being sold at steep prices. In order to address this problem we work with our brand partners to source products at better prices and ensure operational efficiencies which consequently get translated into better, more affordable prices.

WD: Tell us the story of how it started and the challenges you have faced?

CS : The concept of Sports365 was born from our “unrelenting passion for sports”. We hit upon this idea during one of our regular badminton games. e-Commerce was an interesting and upcoming space for a new venture and we thought why not Sports? What followed was a three month long process of internal discussions and debates, sounding off the ideas with experts and friends and some amount of business planning. The outcome was a unanimous “go ahead” and then we started the boot strapping process.

We did face some challenges while setting up. Since sports is a very niche segment there was very limited industry specific information available in structured form and so we had to work on getting sufficient information on the same. The second big challenge was to develop the relevant assortment of the products to be sold online and establishing the requisite tie-ups with the manufactures, importers, distributors etc. We also insisted on having only those people who were passionate about sports on our team and it took us some time to bring in the people with right skill sets.

Tying up with sporting and fitness personalities like Yuvraj Singh, Dipika Pallikal , Pankaj Advani and Lara Dutta also took a considerable amount of time and effort.

Who are the Founders and their backgrounds?

CS: Sports365 is the coming together of management professionals with a passion for sports and accomplished sporting icons. The leadership team comprises of Sekhar Reddy and Mahesh Bhupathi.

Sekhar is a management graduate from IIM Lucknow. He has spent years at marquee firms like P&G and McKinsey & Co., working on Channel Management, Marketing, Supply Chain, Operations, Corporate Strategy, and M&A etc.

One of India’s finest tennis players, Mahesh Bhupathi needs no introduction. Mahesh Bhupathi is our director and plays a prominent role in a number of aspects of the business like vendor relations, customer engagement etc.

Why is your site so different when there are already ecommerce websites selling similar products?

CS: Right from the inception, we wanted to position www.sports365.in as “sports company run by the sports experts for sports lovers”. This philosophy sets us apart from the other players in this space.

Apart from this our online store is very category specific. This makes it easier for customers to find the products they want without having to browse through too many pages. We house an enviable range of 8000 products across 90 brands. Next we have a Live Chat feature which enables customers to connect with out experts in case they need advice about sporting equipment. This ensures informed buying decisions from the customer’s side. Lastly, our offline business element wherein we work with corporates, educational institutions, academies and clubs etc for their sports and fitness infrastructure and equipment needs sets us apart from other players in this field.

What technology platform is your site built on? Is it in-house?

CS: Our portal, www.sports365.in, is built on the Martjack platform (offered by Reasoning) which is one of the most popular and robust e-Commerce platforms in the market. This is managed completely by the platform vendor and we avail the services under the ‘software as service’ model.

Which locations is it available?

CS: We offer shipping services to over 6 lakh plus postal codes in the country. We have partnered with several reputed companies like Blue Dart, FedEx, Aramex and First Flight to make this happen. We also offer a range of payment options like cash on delivery, net banking, credit cards and debit cards.

What is your Marketing/Promotional approach?

CS: Our marketing approach is holistic in nature and a healthy combination of digital marketing, offline marketing, social media marketing, mail campaigns, PR and celebrity based promotions. The objective is to create brand awareness, develop a community of sports enthusiast, facilitate direct discovery and create brand re-call.

Our digital marketing initiatives are focused largely on SEO and a highly focused paid search. We have a wonderful community of sports enthusiasts through our social media properties on facebook , twitter  and blog .

With sports icons like Mahesh Bhupathi, Yuvraj Singh, Lara Dutta, Pankaj Advani and Dipika Pallikal onboard, we have tremendous ammunition to run sports focused celebrity based promotion campaign. Recently our director Mahesh Bhupathi was interviewed by NDTV and he also spoke about his involvement with Sports365, this was a very good promotional activity for us.

We reach out to the celebrity fan bases and our institutional customers to build awareness about our site.

Did you raise any funding? If you want to raise funds do you want to be contacted by Investors ?

CS: Currently, we are seed funded. We are already in active discussions with key financial investors to raise series A capital.

What is the overall plan going forward?

CS: Going forward we have a few specific goals in mind. From the B2C perspective we believe that in a few years time we will become a dominant player in the e-Commerce sector. In the B2B aspect we aim to acquire 1000 institution customers in the next 2 years. We also want to create credible business property around customer engagement. Lastly, we are excited about bringing in a whole new range of international products and give our customers the ultimate sports shopping experience.

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More about Chandra

Chandra Sekhar CEO

A management graduate from IIM Lucknow, Sekhar has spent years at marquee firms like P&G  and McKinsey & Co., working on mundane things like Channel Management, Marketing, Supply Chain, Operations, Corporate Strategy, M&A etc before deciding to follow his heart. As CEO of Sports365, Sekhar leads the functions of Category Management, Marketing & Operations. Sekhar is an avid tennis and badminton player and passionate about contributing to the sports fraternity in the country.

 

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Google India & leading eCommerce companies in India come together to bring Cyber Monday to India – titled ‘Great Online Shopping Festival’ on 12-12-12

Initiative aimed to further boost the adoption of online shopping in India.

 

In an effort to boost the online shopping adoption in India, all leading eCommerce players & Google India have come together to bring the concept of Cyber Monday to India – titled ‘Great Online Shopping Festival’ slated for 12th December 2012 www.gosf.in. With over 137 million Internet users in the country, India is witnessing a significant growth in the online activity and this is for the first time, an Industry wide initiative of this scale is being attempted to offer users all across the country an incentive to gain from unbeatable deals& discounts that they can find on the web on a single day. The festival will see participation from over 50 partners including leading eCommerce, local & classified, online travel sites and BFSI industry offering their best deals to customers all across India for 24 hours.

The initiative is aimed at encouraging shoppers to adopt online shopping with a focus to reach out to first time online buyers. The participating companies will also offer special deals for the first time buyers on their websites. The festival will offer them an opportunity to shop for Jewelry, Shoes, Apparel, Travel packages, books, kids wear, gadgets, watches, computer accessories, health & fitness equipment, home decor products, great deals on real estate and many more.

Speaking about the launch of the initiative, Rajan Anandan, Managing Director & VP sales & Operations Google India said, “We’re very excited to partner with all the leading eCommerce players in the Industry to bring the Great Online Shopping Festival. The online shopping industry is estimated to be already over a 1.5 $ billion and with this initiative we want to reach out and promote online shopping to the first time buyers. The Industry has done a lot to promote eCommerce adoption in India and we’re partnering with them to provide the users an easy access to all the deals and we look forward to great response from buyers all across India.”

Apart from lining up great deals, buyers will also be able to enjoy free shipping across India and learn more about online shopping, various methods of payments and how safe and convenient it is to shop online.

Speaking about the initiative, IndiatimesShopping,COO, Subhanker Sarker, said, “This is a very exciting time for eCommerce players in India and this event highlights the potential of online commerce in our country. The shopping festival will be a gala event

Google India & leading eCommerce companies in India come together to bring Cyber Monday to India – titled ‘Great Online Shopping Festival’ on 12-12-12

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Atmospheredirect.com – An Ecommerce Site By Himatsingka Group

Atmosphere, the luxury home textile brand of Himatsingka group, has launched its first e-commerce website, Atmospheredirect.com. This e-shop for luxury furnishings, bed linens and accessories is designed to give the shopper the same pleasure of shopping as in a show room.

Commenting on the launch, Akanksha Himatsingka, Director, Himatsingka Wovens Pvt. Ltd. said,”We are extremely delighted to announce the launch of Atmosphere’s new e-shop, shipping to 35 countries. With Atmosphere’s entire range now available online, we hope to make the home decorating process easier and efficient for our existing customers and reach out to new customers across the globe, taking the Atmosphere brand to every home.”

Atmospheredirect.com users can choose fabrics based on colour, design, composition and end use. They can select bed sheets, bed covers, pillow covers, cushion covers and curtains from a wide variety of colors, textures and designs. According to the company, each product has been professionally photographed to enhance the online shopping experience and promote understanding of the products.

Atmospheredirect.com also aims to help both interior design professionals as well as do-it-yourself designers with an innovative mood boards tool online. This ‘Mix and Match’ feature allows users to visualise combinations more effectively.

Professionals can have their own unique logins, create mood boards for multiple projects and present to clients with one click. For those designers who are familiar with the product range, this website will help them in faster selection and decision-making. For those less familiar with the brand, the website offers the facility of ordering fabric swatches to confirm selection before placing an order.

Atmosphere is present in 14 stores across India, UAE and Singapore. Atmosphere’s parent company,  Himatsingka Seide Ltd.was established in 1985. Since then, the company has been India’s largest silk exporter for 25 years and produces textiles for some of the world’s best luxury brands and Atmosphere.

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