Today, one of the most popular activities on the web and mobile is e-shopping,and it is really alluring. Dot com has really brought the ‘brick and mortar’ way of shopping to fingertips with the benefit of home delivery. Witnessing huge opportunities, several businesses came online to sell their products and services. While at the beginning, few players ruled the market, gradually e-Commerce mushroomed all across the world making it possible for people to shop branded products, even if they are located in the remotest of region.This pushed e-Commerce companies to offer discounts and deals to attract consumers to their portal. But when there are thousands of portals offering similar product, but at different prices, it becomes difficult for consumers to surf them all to get the best deal.
Realising that product discovery will be one of the biggest market in the coming days, Prince George (Proprietor) incepted PriceDealsIndia in 2011 in Chennai. Prince had to leave his lucrative job as a research scientist and return to India due to personal reasons. But he challenged himself to take an unknown and untraveled path to make it big within the industry. What started with just three people listing mobile phones now has grown to over 12 employees and lists over five million products across 15 major categories that help PriceDealsIndia to act as one of the top players of the industry. “We have direct tie up with all major online retailers,” asserts Prince.
The Challenges & Opportunities
Coming from a different background, e-Commerce was quite alien to
Prince and building a great team was a challenge initially. “But today, I have a good and efficient team. However, the current challenge is marketing and we are working towards improving it,” explains Prince. Within few years of operation, Prince has observed that companies are trapping customers through huge discounts. But he believes that this will not be the case for long and hence, online retailers have to focus on real growth instead of this temporary approach, and offer more individual user experience by delivering goods faster. Being futuristic, PriceDealsIndia is already providing a platform for customers to compare price from leading online sellers, thus directing over 6000 visitors to its partners per day some of which are Amazon, Flipkart, Snapdeal amongst others. Most of these clicks are from mobile phones and other high value gadgets.
PriceDealsIndia will soon be entering into the hyperlocal aggregation market where it will feature prices from local sellers from around 40 cities and come-up with cash back offers and discount coupons
The company has started listing products from across many categories from its partners with prices being compared for the benefit of the users. “We have also started aggregating exchange offers that are available online, which is going to be very convenient for the customers who want to exchange their products online,” adds Prince. The company has also started listing daily deals. Alongside, PriceDealsIndia will soon be entering into the hyperlocal aggregation market where it will feature prices from local sellers from around 40 cities and come-up with cash back offers and discount coupons. But witnessing 50 percent growth year-on-year, and with plans to expand business operations soon, the bootstrapped PriceDealsIndia is looking for external funding to enable itself to compete with competitors who have already raised millions in funding.