eCommerce in India has now diversified from an Electronics only market to a number of segments such as Fashion and Home Products. With growing eCommerce penetration, more and more online shops are coming up — especially the offline shops coming online. This has resulted into more choices and more confusion for the end customers, and thus arising a need for one stop shops that offer product aggregation, best price deals and much more under one platform.
Product Aggregation and Cashback as a service has seen a lot of action lately among Indian startups. Several platforms like Buyt.in, 3OtherThings, Vgulp etc have recently entered this market, trying to provide the best of their services for the today’s savvy Internet shopper. Trying its luck, is another such social commerce cum cashback platform — Baggout.
“Currently there is not much competition in the market and there is ample space for more than one players,” believes Deepak Jain, cofounder, Baggout.
Brainchild of an IIT Roorkee Alumnus, Deepak Jain, and his friend, Prashant Mahajan, Baggout works with an aim to help online shoppers discover right products while helping them save money on the purchases through Cashback and Discounts.
Its product aggregation feature help shoppers spend less time on researching for a suitable product online, with social network being the catalyst — this however requires by a user to log in with his/her Facebook account. Other than the curated items, a user can also browse through products recommended by the friends circle.
Once logged in, Baggout curates a shopping list prioritized as per the user’s social network as well as previous likes and purchases. Once the user finalizes a product, he/she can click on Buy Button and get redirected to the retailer. Under its affiliate model, Baggout gets a commission on such sales, which it then passes (a portion of it) as cashback to the user. The portal started its cash back service earlier in October last year.
Currently bootstrapped, the team is working towards the product-market fit since its launch in May 2013 and has been making continuous changes to its model.
The startup claims to be getting a decent traction since it started offering cashback from last 3-4 months. It has over 40,000 registered users and get 40-50 transactions done by its users on a daily basis. “Now, that we are getting good traction; we plan to start looking for funds as well, very soon,” added Deepak.
Baggout has partnered with several big Indian eCommerce companies like Myntra, Flipkart and Amazon among others. The startup currently focuses on the fashion and lifestyle segments and is majorly targeting the Indian women community.
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