The beauty and care segment, being considered to be one of the niche segments in the ecommerce space, is attracting a large number of entrepreneurs towards it in the present scenario. In line with players such as Purplle.com, Nykaa, VoiletBag, Enchantess, Vellvette, etc. another startup, Masticart.com has also joined the league.
Launched around 8 months back, the startup is based in Gurgaon and is founded by Rachit Mathur, a Graduate from York University. Masticart is currently dealing in verticals such as Personal care products, Hair care products, Beauty & Skin care products, Bath & Body products, Lingerie and Nightwears.
Masticart aim to provide a website experience focused towards female, though the site also sell products for men on it user friendly clean design.
Masticart partners with logistics providers such as Blue Dart, On Dot and Red Express to give doorstep delivery of products all over India within 3 days as claimed by the founder. There’s a shipping charge of INR 45 for a purchase amount below 700, however shipping is free above that. The COD service is available on order size between INR 300 – 5,000 only. It also follows a return policy of replacing the product if informed about the malfunction only within 7 days. All such policy looks like coming after the previous experience of other players in this segment.
At present the company is working with a real time inventory based model based on stock and sell. Along with the regular brands, the company is also having association with brands from Tier II and Tier III cities who are doing well. This also adds on to the firms strategy for dealing with competition. At present direct marketing, SEO and social media are the preferred mediums for marketing.
When asked about the competition and scope in this segment, Founder and CEO Rachit said. ”The beauty segment in India is very very big. We are a niche player in the Beauty Care Products segment. At present, competition is less and growth opportunities are huge as its a repetitive buying product category and no single player can fulfill this.” The company though considers Nykaa and Purplle.com as their major compeititors.
The venture is a self funded and the company is approaching investors for raising funds. As per Rachit, the site is currently gaining a traction of around 5000 visitors per day with 30% M-o-M increase both traffic wise and order size. Also, they have a conversion rate of 1.5% with around 70-80 orders a day.
Working with a team of 15, Rachit is looking forward to achieve a revenue target of around $1 million along with getting breakeven by the end of this year.