In Conversation with Suresh Kabra, Founder and CEO, PriceMap Ventures
October 12, 2017
Do you also think that online deals are always the cheapest? Well, it is time to break that myth. Meet PRICEMAP BUYER app. If you are a buyer who researches online before buying anything, the app will help you find a local shop offering better than the online price for the product selected online. It believes in – AB JO BHI LENA HAI #DEKHKELO. PriceMap solves the product and price discovery problem faced by physical retail, i.e. where can I find what I want at the best price? The app enables you to have ‘touch and feel’ retail experience without having to hop market-by-market searching for the best deal. No ecommerce portal can match this experience. So, we recommend that you must install PriceMap Buyer app once and experience on your own that how it helps you save both time and money when you wish to buy products like mobile phones, laptops, audio/video systems, home and kitchen appliances, to name a few.
In an email interview with Apps Unveiled team, Suresh Kabra, Founder and CEO, PriceMap Ventures Pvt. Ltd., shed some light on their growth plans and said, “PriceMap is live in Delhi/NCR and growing rapidly with close to 1lakh user base and more than 2000 strong retailer network. Very soon the app will cater to about twenty additional product categories and be live in 5-7 cities.” Edited Excerpts:
PriceMap Buyer is your brainchild. What inspired you to develop PriceMap Buyer mobile app?
The whole idea came from a personal incidence. In late 2015, I ordered a product for my daughter from Snapdeal. I can still recall that I paid ₹1,299 for it. Incidentally, the same weekend I stepped out in the local market. To my sheer disbelief, I found that same product from the same brand in the local market for ₹999. I questioned myself that why I bought the product online impulsively without checking the prices at nearby shops. The answer was clear! Product and price search in physical retail is a huge challenge as one might have to spend an entire day looking for a shop having the same product you want in stock and offering the best price at the same time. This is the problem PriceMap Buyer app solves. It helps you discover shops in nearby markets offering better price than online for the product you are willing to buy.
- Please tell us a bit about PriceMap Buyer mobile app and how it works.
If you prefer to buy anything after checking it out physically (or let’s say that you prefer ‘touch and feel’ retail experience over online shopping), PriceMap Buyer app is meant for you. The app will help you to discover the nearest shop having the product you want and offering it at the best price (which is mostly better than online price!).
The PriceMap Buyer app is available for both Android and iOS users and is very simple to use. Find what you want to buy online and then share the page link of that product with PriceMap Buyer app installed on your phone. Inside the PriceMap app, select nearby markets from where you prefer to buy that product and send a query. Retailers in these markets will get back to you with availability and offer price of the product. You can now buy the product directly from the shop offering the best deal. I would recommend people to watch “How PriceMap Works” video on YouTube for more details. The video link is given in the app itself.
- Why one should download PriceMap Buyer app? Your top three reasons for that.
You should use PriceMap Buyer app if you want to get better price than online deal from a retail shop in your neighbourhood. The three clear benefits to consumers for using the PriceMap Buyer app are:
- Helps you save both time and money on shopping.
- Get the best deal across the market, deals better than online!
- #dekhkelo, i.e. touch and feel the product before buying. Furthermore, buying a product from a local shop offers instant gratification, with no hassle of returns and refunds.
- How is the response for PriceMap Buyer app so far? Please shed some light on the user base and growth figures.
PriceMap is getting a fantastic response from both shoppers and shopkeepers. We are close to 1 lakh user base and seeing a very high percentage, as high as 40%, of repeat users. Once users have experienced the app, we’ve noticed them coming back to PriceMap next time as well – as they know that they will get the best deal, across online & offline, via the PriceMap Buyer app. More than 2000 retailers are using PriceMap Seller app to pull customers away from leading online portals by offering better deals!
- What was the most challenging part of your journey till now? How did you overcome those challenges?
There have been a dozen O2O (Offline to Online) apps which have come and gone. Their entire process made the retailer spent tons of money in building an online inventory model without securing any business. So, when we initially launched the seller side app, we faced a big resistance from shopkeepers as they felt that we are yet another “O2O” player. To overcome this mindset, which was created due to inefficient legacy systems, was our biggest challenge. However, our team worked diligently on retailer relationships and gradually convinced them that PriceMap is fundamentally different. Once they realized that PriceMap enabled them to compete with the likes of Amazon, Flipkart, etc. without investing a single paisa on IT resources and infrastructure, they have become our loyal partners.
- What do you see as PriceMap Buyer app’s biggest challenge in the coming months?
One of our major challenges continues to be to break the consumer perception that online is always cheaper. As more and more people start using PriceMap Buyer app, they will experience and share with others that the shop nearby can be far more price competitive compared to online. We are confident of shattering the “online is cheap” myth as installed user base increases.
- Diwali festival is just around the corner. How can people make the most out of the PriceMap Buyer app? Would you like to suggest something?
People do a lot of shopping during Diwali, especially, they spend on mobiles, home and kitchen appliances, and electronics. By using the PriceMap Buyer app, they don’t have to kill their entire day visiting market after market in search of a shop selling the product they want to buy at the best price. Just PriceMap your shopping list and find that shop right on your smartphone sitting in your living room! So, no more fight with Diwali traffic and pollution to find that particular shop, which is offering the best deal on the product you want.
- Do you see any social impact of your application?
There are more than 14 million mom & pop stores in India and they contribute 10% to the GDP. They employ about 40 million people. While the buyer is becoming tech-savvy and searching online for what they want, the mom & pop stores are lagging behind as they don’t have a right tool to reach out to tech-savvy customers.
We see a huge social impact of the app in enabling these shops to serve an online customer and thereby saving jobs in retail. Apart from this, a widespread use of PriceMap app will also ease out the congestion and parking challenges in our cities and reduce pollution.
- Do you have any message for budding entrepreneurs?
I would only say that don’t do “me-too” startups by doing a “cut and paste” of ventures which have been successful in other parts of the world. Every nation has its own business culture and set of problems which are very different from one another. If we must advance as a society, we have to fix our own problems in ways, which will bring maximum value to us. In this respect, I consider the PriceMap model as the “right ecommerce” model for India as it enables millions of shops to sell online instead of a handful few with deep pockets and investor’s money.
- Last but not least, what would be the one liner for PriceMap Buyer mobile app?
Ab jo bhi lena hai #dekhkelo
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