Delhi-based ecommerce startup BundleBaazi which enables consumers to create a bundle of the products(same or different categories) they want to buy and then offers additional discounts on the bundle, has added a new feature 'Play & Shop', to make the shopping experience more interactive with a gaming interface.
Customers can play with the products in their bundle by shuffling bundled products to reach the bundle of products of their choice. This interface combines the ecom firm's recommendation engine with few interactive features that customers can use to pick products in their bundles quickly. While using this feature, customers will be able to see how much money they are saving on the bundle and the special BundleBaazi Price that comes from BundleBaazi.com's discounting algorithm.
Operational for the last four months, BundleBaazi is currently dealing in six product segments - Baby Store, Mom Store, Beauty Store, Fashion Store, Books Store and Electronics Store. The more products a user buys the more discounts he/she gets. The discount is calculated in real time on the bundle of items, using a proprietary algorithm(we checked the bundled offering of a handful of products and compared with total price of the same products in one of the top general ecom sites and found BundleBaazi a tad cheaper).
Founded by Vivek Srivastava, Abhinav Sinha, Vishwas Kumar Singh with support of entrepreneurs and technocrats Jagdeep Kaur and Saurabh Srivastav.
Srivastava is an alumnus of IIT Kanpur and Massachusetts Institute of Technology's Sloan School of Management and has previously worked with TCS, Schlumberger, IBM and Deutsche Bank, Entrepreneur. Another IIT Kanpur alumnus, Sinha has previously been with Infosys, Morgan Stanley, Goldman Sachs before starting BundleBaazi. Singh is also an IITian has worked with iRunway.
Srivastava said, "This feature(Play & Shop) will help us further engage our customers and give a fresh perspective to their online shopping experience."
Besides conventional payment facilities, the firm also allows a customer to pay online after his/her products gets delivered. Srivastava said, "Though it's a financial risk for us, we take the challenge. We do certain rounds of verification and one needs to have made a transaction through our payment gateways before opting for the same. And we let someone take this option, if somebody's order value is less than Rs 5,000."
According to Srivastava, "We are different from other ecommerce websites in the core business model that is in bundling, itself. We have a patent pending bundle pricing concept that is our competitive niche and makes us completely different from a pure/vanilla online shopping website."
Talking about the challenges faced, he said, "We are a small firm, negotiating the margin with big brands and manufacturers is a big challenge."
The company claims it has 500+ registered customers base clocking 25 orders a day. By the end of this year, BundleBaazi intends to do 100 orders a day.
Fund Raising And Expansion Plans
BundleBaazi is already in talks with investors to raise a seed fund in the next two months. "With the money we plan to raise we intend to get our resources right, which would help us become a plant from a seed," Srivastava said.
It is planning to spend 'just enough money' on advertising and marketing (right now they have spent very little on Google and Facebook ads), better operations, improving logistics and team expansion, after that get geared up for next round funding in about nine months.