Summer Internship Project Vendor Acquisition for Limeroad’s Project Premium Submitted by Category and it’s Vendor Peeyush Modi App Testing and 60/21014 PGDM Installation
Flow of Presentation • About the Company • SWOT Analysis
• Objectives • Project Phases • Phase 1 : Identification,Market Mapping and Penetration • Phase 2 :Vendor App Testing And Installation • Phase 3 : Categorization of Vendors and Premium Tab Planning • Phase 4 : The Onboarding Process : Closing the commercials
About The Company • Fashion and Lifestyle Discovery Platform for Women in India • Vision : To connect big and small brands in India to customers across India and the World in Fashion • Mission : to build the most extensive discovery platform for lifestyle products in South East Asia
Source : Company Web
About The Company • Founders and CEO : Suchi Mukherjee • Co-founders : Prashant Malik and Ankush Mehra • Founding Year : 2012 • Location : Gurgaon • Monthly Sales : >6 crores
Source : Company Data
‘We Make you Look Great.Great.Always’ • Allowing users to create different looks through scrapbooks • 3 lakhs visitors a day • 65,00,000 curated looks through scrapbooks by the team and customers • Features top style looks by Neha Dhupia Source : Company Data
SWOT Analysis Strengths:
Weaknesses:
• Strong investor backing • Customer Involvement through scrapbook creation • Focus on style and fashion • Widest assortment of products • Large consumer base
• Logistic Complexities • Cheap Pricing Points
Opportunities:
Threats:
• Youth potential in India with discretionary spending • India has the fastest internet traffic growth globally and is expected to have 348 million users by 2017 • Luxury Brands and Designer Garment segment • Less Known Vendors
• Online players like myntra, flipkart, jabong and zovi are strong competitors offering heavy discounts • Prevailing Concept of Tangibility
Source : Company Data, YourStory.c
Objectives
•Vendor Acquisition for Limeroad’s Premium Category and Vendor App Testing and Installation •Identification ,Understanding of the designer hubs in South Delhi and creating a pool of designers and vendors by mapping those markets. •Introduction and Installation of Limeroad’s Vendor App (Limeshop) with the designers and mainstream Market Vendors. •Understanding vendors’(designer and non designer vendors’) issues and resistance towards going online •Classification of Vendors and bringing the requisite vendors onboard to Limeroad’s Premium Category.
Phase 1 Identification,Market Mapping and Penetration
Phase 2 Vendor App Testing and Installation
Phase 4 The Onboard Process : Closing the commercials
Phase 3 Categorization of Vendors and Premium Tab Planning
8
Phase 1 : Identification,Market Mapping and Penetration
Identification and Understanding of Market • Company’s database • Secondary Research • Travel Blogs Black Book
: CNT Travellers, Little
• Fashion Blogs : High Heel Confidential , Wed Me Good Blog • Online Fashion Portals : Exclusively.in, Pernia Pop Up
Market Mapping and Penetration • Primary Research • Visiting the markets • Collecting Contact Details • Conversation with store managers/Owners and Collecting information about their merchandize Secondary Research
Primary Reserach
Creating Database
Personalize d Mails and Phonecalls
Target Markets : Designer Hubs and Mainstream Markets Number of Stores Visited
Designer Collection
ShahpurJat
Hauz Khas
21 162
148 16
MeherChand
Khan Market
21 60 Main Stream
Qutub and Crecent
6% 1% 7% 22%
8% 56%
Shahpur Jat Hauz Khas MeherChand Khan Market Main Stream Qutub and Crecent
• Lajpat Nagar, Rajouri, Sarojini,Greater Mainstream Markets Kailash
Findings : Phase 1 Mature Markets
•Covered : Shahpur Jat Village, Hauz Khas Village, Meherchand , Qutub Market •Hub of most of Delhi’s well known fashion designers. •Less Crowded,Clients based, limited inventory,high on fashion, exorbitant pricing,Well aware and informed vendors
• Busy market.Normal merchandise • Crowded,Customer based, huge inventory,variety,un
Phase 2 Vendor App Testing And Installation
Limeshop : Create Online Store
• Introduction to Vendor App : Limeshop • Manual Testing of the App • Identifying Problems and Recommendations • Apps Installation Source : Google Playstore
Limeshop • Limeshop : online store, for free, in only 60 seconds! • Digitalizes your store • Upload products to Create Catalogue • One Click to share with customers (via Facebook, Whatsapp, E- mail, SMS, Pinterest, Instagram & more)
Limeshop : A Vendor App by Limeroad
Source : Company Data
Limeshop : The Installation Process
Source : Company Data
Benefits of Limeshop To The Vendors •Creates your own Website in just 60 second for free •Digitalizes the store and Easy to use •Systematic Channel for B2B and B2C dealings •Hands on Experience of Ecommerce •Cataloging of their Merchandize •Brings them to Limeroad’s Notice
To the Company
•
Limeroad’s Goodwill • Introducing Limeroad to vendors • Customer/Client database • Marketing and Indirect Promotion of Limeroad • Systematic Screening of Potential Vendors • Establishing Relations Source : Google Playstore
Key Findings about Vendors through • Street Smart, Vendor app Testing • Educated and Receptive Receptive of Designers/Mature Market Vendors/Busy Main Markets • Long Discussions technology and needed more • Understood easily explanation • Limited Stock • Heavy Inventory • Plagiarism : Main • Found it Too time Concerns Consuming • Clarity : Either • Price Points Issues Ready or not ready • Reluctance in
Meeting the Targets • Total Vendors/Stores Visited : 357 + (Some didn’t share details) • Iphone Users : 82 • No. ofVendors installations : 75 outInstallations of 138 android Meetings 220 users Not Installed 63 Owner not present
137
Iphone Users
82
Installed
75
Issues and Challenges in Vendor app Issues Challenges •Iphone •Unawareness about Limeroad •Unavailability of Owners in stores •No free time with the owners. •Doubts about authenticity
• Data Validation • No tracking Id generated in case of placement of any order.
Recommendations : Phase 2 • Develop an Iphone version of the App • Promotion : For Limeshop Users • Invoice Printing Feature • Directing Limeroad’s web traffic to these webstores at minimal commission • Tutorial Video • Create some success stories and launch the video. : Pull marketing strategy
Phase 3 Categorization of Vendors and Premium Tab
The Premium Tab
Design Maison: Budding Designers,Exclusi ve Collection, Good Merchandize,Hig h Price Points
Brands : International , Indian Brands
Designer : Big Designer Brands, Exclusive Collection, Best of the market,High
Categorization of Vendors Primary and Secondary Research Data
Creating Categories and Priority List
Limeroad Experts Advice
Store Visits with the merchandise team member
Categorization of Vendors Parameters Brand Value Recommendations and Referrals Pricing Points Quality Of Merchandise Exclusivity of Merchandise
Measuring Tools/Mediums Through Secondary and Primary Research and Experts Advice Blogs, Social Media , Websites,Personal Referrals High End. Entry Exit Points preferably Between 4k to 50k. Checked by Category Head and Merchandizers Checked by Category Head and Merchandizers Through Observation of footfalls
Categorization Of Stores (Excluding Mainstream)
Cate gory A++
A+
A
Parameters
Brand Value , Exclusivity, Quality , Price Points, Cliental Quality Recommendations and Referrals, Exclusivity,Quality,Price Points,Cliental Quality
No . Of Stores 69
22
Exclusivity,Quality,Price Points, Cliental Quality 41 Quality,Collection Type, High Inventory
Premium Category Brands +Designer + Boutique Design Maison
Design Maison Source : Company Data +Primary Limeroad
Findings • Designers were Reluctant in going Online due to • Past Experience • Designs get copied • High Pricing Products • Indian Consumer Mindset • Time Requirements • Unavailability of Ready Stock
Findings • Return of the Garments • Difficulty in managing both online+ offline stores • The Merchandise like heavy bridal wear, consumers want to feel it before buying it.
Planning the Commercials : Competitor’s Analysis Commission Charged
Pernia’s Pop up shop 30-50%
Product Image In house shoots Capturing
Product
Exclusively.in Indian Roots 30-40%
30-40% In house shoots predominantly. In house shoots Strict acceptance guidelines for vendor images Holding Holding Source : Company Data ,Ref
Premium Category : Formulated Terms and Conditions Min 20 designs; with min 2 pieces per design SKUs (covering the entire sizechart) . Work with ready stock of designers only Dispatch TAT 48 hours Minimum time for 2 weeks, from the day the product submitted Listing to studio for shoot . Minimum Minimum 15 days from the date the product Inventory goes live to the site. Availability Period Packaging Packaging Material and costs will be borne by Material LimeRoad
Premium Category : Formulated Terms and Conditions At Limeroad’s production house in Gurgaon. One Photoshoots(By way/Return logistics borne by the vendor.( Max LimeRoad) time: 48 hrs) Photoshoots (By Vendor) Commission Exchange and Return Policies
Images should comply with Limeroad’s norms. Minimum 25% to 35% Customers should intimate within 24 hrs of delivery
Phase 4 The Onboarding Process : Closing the commercials
The Onboarding Process Fixing and appointment Through Mails and Calls
Coordinating with the Production Team
Meeting the designers and briefing
Negotiating and Closing down the commercials
Handling the deal to the manager
Sending the confirmation mail with VRF form
Approaches Multiple number of visits to the stores and gathering information
Customizing the pitch,T&Cs as per the designers
Referrals through designers
Bringing some famous names onboard : Chain Reaction
Challenges Faced : Onboarding • Photoshoots : Most designers wanted to give their garments just for a day • Inventory Selection : which garment to put online • Unavailability of TIN no. • Getting the VRF form Filled • Some designers want to just wait and see the potential once it launches
Closing the Leads Coordinat ing With the Productio n House
Schedulin g the Photosho ots
Getting the VRF forms filled
Handling the queries/is sues
Meeting the Objectives *
75 *
30
• Identification ,Understanding of the designer hubs in South Delhi and creating a pool of designers and vendors by mapping those markets. • Installation of Limeroad’s Vendor App (Limeshop) • Classification of Vendors • Number of Vendors Onboard on
Recommendations Making the process fast, smooth and hassle free Creating Twin Sites : One for Indian and other for International Customers
Express Photoshoots : within 48 hrs
To Create success stories and launch it online so as to attract more vendors
Designers as style consultants to add value to the premium
Venturing into Be Spoke Model,since most designers work on make on order basis
Key Learnings • First hand experience with Sales and Negotiations • Market Mapping and Dealing with the vendors • Understanding the complexities of ECommerce • Efforts behind just one single click of the customers
References 1. www.perniapopupstore.com 2. www.exclusively.in 3. www.indianroots.in 4. www.cntraveller.in/story/25-hip-boutiquesshahpur-jat 5. http://littleblackbookdelhi.com/village-peoplecurated-guide-haus-khas-village/ 6. www.highheelconfidential.com 7. http://yourstory.com/2014/08/limeroad-growth-story/
THANK YOU
