'Offline, Online retailers need to figure out more meaningful ways of working together'

Ayush Trivedi - Co-Founder & Managing Director, Bhaap.com.jpg

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Vaneeta Punchvedi | 17 Feb, 2015
Instead of seeing each other as competitors, the offline and online retail industries need to figure out more meaningful ways of working together and ensuring that they utilise their respective strengths, said Ayush Trivedi, Co-Founder & Managing Director, Bhaap.com in an exclusive interview with SME Times.

He said, it is only natural that new channels will shake up existing practices. However, online retail is an opportunity for the entire sector to improve and make itself more dynamic and efficient.

The extra competition (even after the current trend of below-cost online selling ends) should be a sign for offline retailers to find new ways of distributing their products to consumers who may no longer need or want to visit brick and mortar stores.

Excerpts of the interview...

Tell us something about your e-commerce website "Bhaap.com"?
Ayush Trivedi: With Bhaap, we take a very divergent view about how ecommerce, and particularly online retail can appeal to both customers and the industry, alike.
On one side, we're putting the convenience back into online shopping. We take the view that not everybody knows what they want to buy all the time. So we provide our customers new and topical online shopping ideas that change on a daily basis. The kicker being that our prices are the best in the country.
On the other hand, we provide brands, distributors and retailers an opportunity to move their end-of-line and excess inventory through our very focussed approach. This is a very important channel for any retail market and we've already experienced that channel has not really existed in any significant and structured form in India.
It's a two-pronged strategy with significant benefits for everyone involved.

When and why you started an e-commerce website? What is the USP of your online shopping portal?
Ayush Trivedi: Bhaap started as an internship project during my MBA at Melbourne Business School. It has since then developed into a full-fledged online shopping option for Indians who desire Brands They Want At Prices They Love.
Unlike many of our competitors, we are not a marketplace. This means we can enforce strict quality controls and deliver on our promises to only ship 100% genuine brands at the best prices. Add to this free shipping all over India, irrespective of price; 7-day returns; full buyer protection; and our great customer service, and you have a concept that is gaining a lot of traction very quickly.

Bhaap.com provides products to their customers at discounted price, how you do it please share?
Ayush Trivedi: Not only do we offer great discounts on our products, being bootstrapped we also ensure that we never sell below cost. We can do this due to an innovative and very lean sourcing model that gives our customers new shopping ideas every day on 100% genuine brands, at simply amazing prices.
Our supply partners appreciate our focussed selling approach, which in-turn, allows them to move brand new inventory that they may have struggled to sell through the traditional channels.
Our model also allows our supply partners to protect their brands by not having to continually resort to excessive, expensive and brand diluting discounting just to clear stock.

Do you think e-commerce marketing is affecting retail shopping?
Ayush Trivedi: It is only natural that new channels will shake up existing practices. However, online retail is an opportunity for the entire sector to improve and make itself more dynamic and efficient.
The extra competition (even after the current trend of below-cost online selling ends) should be a sign for offline retailers to find new ways of distributing their products to consumers who may no longer need or want to visit brick and mortar stores.
Instead of seeing each other as competitors, the offline and online industries need to figure out more meaningful ways of working together and ensuring that we utilise our respective strengths. These ideas aren't ground-breaking, but it is now high time for the talk to end and the action to start.

People are now inclining more and more on online shopping portals how do you see it?
Ayush Trivedi: It's only natural that something that starts from a low base will show high growth until it reaches maturity. However, it's important to note that online shopping is more relevant in a place like India, than in more developed countries where infrastructure is better and where there are fewer impediments for people to head into brick and mortar stores.
Like Bhaap, if other online retailers can continue to focus on keeping the convenience in online shopping, they will see the fruits of their efforts continue to grow exponentially. We will unendingly work to ensure that our customers' online shopping experience is easy, fast and satisfying.

How do you see e-commerce industry of India?
Ayush Trivedi:Beyond the usual cliches, I believe that online retailing in India is critical to improving the standards of the entire retail industry; it is critical to improving the efficiency of the industry; and it can help the entire retail space modernise and become more quality-focussed.
We're already seeing the benefits of increased credit card adoption and peoples' increasing trust in online payment systems. Increased penetration on this front will reduce many of the inefficiencies that are introduced by offline payment systems and enable the industry to innovate its core offerings to become more relevant to more people.
There are different models of conducting business online that are already very popular overseas. However, they are reliant on increased trust throughout the ecosystem and I'm convinced that this will be achieved in the medium-term.

How you rate your 2 years experience in market? What are your future plans?
Ayush Trivedi:Our progress has been rapid and sound. Being bootstrapped has forced us to ensure that our processes and our actions are lean and focussed. We are providing a very valuable channel that our current and future supply chain partners trust and value.
Our customers are loyal and they love our different and trustworthy approach in a crowded and otherwise homogeneous market.
We have hinged our growth on a continuous improvement of our catalogue, service levels and the overall convenience we provide our customers. You will see an increased presence from us in 2015, as we attempt to go from the best kept secret in online shopping to an online shopping destination that everyone visits at least once a day.

Please share your wish from the upcoming Budget 2015?
Ayush Trivedi: We have high hopes of the next round of economic reforms. In short, we would like a common set of rules of doing business across state borders and a simplification of the laws that govern the different aspects of our business.
These aims will not be achieved in one budget alone, however, we hope that this year is the first step in a series of reforms that allow this sector to achieve its true potential.