The world is going digital – understanding this, Indian ecommerce ecosystem has recently witnessed inception of numerous startups helping offline businesses go online. The market indeed is promising, as offline stores continuously seek for new and innovative ideas to acquire online customers. Following the trend, a Noida based startup has come up with a solution.
OfferMandi is a location-specific price discovery platform for users and a hyper-local marketing platform for small and medium size businesses. However, unlike other product search engines who also support product buying from their websites using drop shipping or affiliate model, OfferMandi is only a product information aggregator and search provider.
Where on one side, it helps offline merchants go online, on the other side it escalates online and offline competition.
In order to make a purchase, shoppers need to visit respective shops or can get in touch via contact information provided on OfferMandi. Trying to be the ‘Yellow Pages’ of the shopping world, the service is limited to Jaipur only with future expansion plans. The company will soon launch its services further in 10 cities across India, including Delhi and other metro cities.
Right now OfferMandi is focusing on Mobiles and Tablets only as they are the FMCG of electronic market with addition of more categories further in future. Founded in the month of March, the company has acquired more than 10k monthly unique visitors and lists products from over 100 retailers in Jaipur city alone.
“The basic idea came to offer such services came as SMEs aren’t coming on web as fast as number of online users are increasing. So there exists a need of aggregators who can aggregate these offline businesses and allow them to compete with niche online businesses” believes Manish, founder at OfferMandi.
There are several other product search engines available online but while all these players do the comparisons around online stores, Offer Mandi’s focus lies completely on offline vendors.
With an increasing percentage of online shoppers, brick and mortar industry is continuously losing money. In order to keep their business sustained, the future calls for these offline stores to go online and regain their market. So, the market opportunity for companies acting as a bridge between online and offline is huge. “As the offline world in the country is huge and all of them cannot just create their own websites, we have a good scope to grow” added Manish.
However, the biggest challenge in such businesses is data collection and maintaining the reliability of data as prices change very quickly. Other startups working in similar field include – Wooplr, Indiaorders and more.