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FutureBazaar
Launched 26th January, 2007 Winner – Best Shopping Site in India 2007 from PC
World On track to becoming India’s largest e-commerce
player in the first full year of operations
Success Mantra
Capture
Rewrite RulesConsumption
The Old Rule
buying stuff is one of the things that people who are
going online can be persuaded to do
The New Rule
going online is one of the things that people who are
buying stuff can be persuaded to do
Worldwide Social need drives Internet adoption and usage
MySpace, Chat, Blogging, Meetups, Dating
Plays a role similar to a food court or a theatre in a mall - attracts traffic and footfalls that retail benefits from
Internet Retail there is a way to convert traffic to consumption demand
In India Social use of the Internet is very small - the drivers
that cause this kind of usage in American societies are not present here
On the other hand, there’s huge untapped demand for consumption
Internet retail in India needs to convert consumption demand into traffic
Large-format Retail Limitations
Catchment areas large enough to support a large-format store
Large single piece of real estate required in a suitable location
High marginal costs to starting an outlet
Large format retail will leave large gaps in capturing consumption for
years to come
The Essence of Internet Commerce “Virtual” Commerce deals with product information
supply People make purchasing decisions based on product
information Product is delivered after purchase
This holds for many business models that don’t involve the
Internet