Fashos.com, a Delhi based online retailer in footwear vertical has been registering 2X growth in terms of orders and revenue Week on Week (WoW). It is an interactive fashion footwear portal that caters to the needs of traditional shoppers as well as the social online shopper through suggestive buying.
Interacting exclusively with iamwire, Navin Joshua, Co – Founder, fashos.com said “We have launched in November and since then we are experiencing 2X growth WoW. In November, we had around 1,000 clicks, however in February; we have registered around 5,000 clicks on the website on everyday basis”. At the same time he also added that these growth numbers are quite obvious from start-up perspective.
Talking about shoppers at fashos.com across demographics, Joshua said “top 8 cities accounts around 55 percent orders at Fashos, however remaining 45 percent come from tier 2 and 3 cities despite of less marketing efforts in these demographics”. According to Joshua, unavailability of brands, latest designs along with price range are major drivers of sales from tier 2 and 3 cities. Speaking on the split of orders between COD and plastic card payment, Joshua said “currently it is 50:50 in ratio”.
The average ticket size of per purchase at Fashos is around INR 1,800 with INR 1,000 per consumer acquisition cost. The consumer acquisition cost covers all cost incur to acquire a consumer including marketing, promotion and gift and coupon voucher. Throwing light on the trends at Fashos, Joshua said that we have observed the trend of more women shopping at website; however he also reiterated that average ticket size per purchase will come down with more participation of women shoppers as foot wears for women are relatively cheap and unorganized than men in India.
Pointing out the unique personalized shopping experience at Fashos, Joshua said “in online era, consumers are willing to take recommendation through social network mediums like Facebook and Twitter. And we at Fashos gets more than 50 percent orders rout from our personalized shopping based offerings. Further he added that Social networks help online retailers to understand the concerns of consumers and give etailers to engage, bond and establish loyalty factor across its consumer base.