Comments
Online price comparison and product discovery site MySmartPrice.com has found a new avenue to reach out to consumers who have difficulty browsing the Net, due to low Internet connectivity.
The site allows consumers to compare prices through the hugely popular WhatsApp messenger, which currently boasts of over 50 million active users in India.
As the e-commerce arena gets more competitive with newer players entering the fray, many are eager to get closer to the consumer.
Other than online players, even offline players have started to realise the huge potential and reach of the popular chatting app WhatsApp, as a powerful marketing and business tool. Designed to be user-friendly and seamless, the new feature at MySmartPrice (MSP) can be accessed by people from any part of the country for a quick price comparison of product categories via WhatsApp.
Sitakanta Ray, co-founder of MySmartPrice, told BusinessLine that any consumer who has a WhatsApp application on his mobile phone can get the service by sending a message to 9332222222 with his query.
The reply would have the price details and specifications of products offered by various e-commerce players.
“Internet coverage is sketchy in several parts of the country, but people can communicate using WhatsApp, since it even works on 2G connections. We decided to tap WhatsApp to reach out to these consumers,” he said. Around 50 per cent of MSP’s user base is on the mobile.
“Most online shoppers spend as much as a month researching on the electronic products they plan to buy. In the case of mobile phones, buyers spend close to 30 days asking friends and families on suggestions, and are often in need of a quick reference for prices.
WhatsApp is the ideal solution for such users, as it is available on almost all basic smartphones and is also free to use,” Ray added.
Revenue targetThe new feature, Ray hopes, would give a five-fold increase to traffic. MSP’s website attracts 10 million unique users per month, listing more than 200 product categories from over 50 online stores in India.
The company earns a revenue of ₹1.5 crore a month from transaction fees.
It expects to double the amount, as the $3.2-billion e-commerce industry grows.
Almost all the big players such as Flipkart and Snapdeal are listed on MSP.
Founded by Sitakanta Ray and Sulakshan Kumar, the Hyderabad-based company had recently raised $1.5 million from Helion Venture Partners and Accel Partners. It competes with sites such as PriceBag.com, Junglee, and Naaptol.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.