This year India has seen a large number of new online retail
brands entering in the market with new brands coming up every month. While some
brands focuses on the niche verticals, there are others who are catering
product portfolio from a wide array of verticals targetting upper-middle class
and rich sections of society through premium products and affordable luxury. Recently
launched Excluzen, India’s premier lifestyle destination is one among those catering
to a highly targeted audience.
Being named after two principles that even Steve Jobs would
have appreciated, Exclusivity + Zen, it adheres to it completely delivering the
best that life has to offer to its customers. World’s finest brands such as
Apple, Bang & Olufsen, Tag Heuer, Omega, Just Cavalli etc in addition to
the special tailor made experiences for it’s customers. Excluzen aims to give a
new twist to online retail in India with a business model that has high
barriers to entry and caters to a highly targeted audience.
Delhi Planet caught up with Urvashi to ask her a few questions
about Excluzen and how she plans to make it stand out from the clutter of
online retail start-ups in India.
DelhiPlanet: What’s the inspiration behind Excluzen? How does it set itself apart from the plethora of e-commerce sites that are springing up in India making the market hyper-competitive?
Urvashi: The concept behind Excluzen is based on the fact that we weren’t able to find good answers to simple questions such as; Why aren’t Indians able to easily access the world’s best brands? Why can’t one enjoy the same quality in Delhi or Chandigarh as in Singapore or London? Why can’t the young and successful emerging India enjoy new experiences and live life to the fullest?
Our focus at Excluzen is on delighting members with wonderful, exclusive experiences and products from India’s and the world’s leading providers. We offer superior quality at sensible prices to an upmarket audience – across 12 categories that include travel, gadgets, parties, fashion, adventure, and more. We believe we are filling a distinct gap in the Indian marketplace.
This is a wholly different proposition from the mass-market or coupon space, which is where the bulk of competitors in India are slugging it out. Our simple goal is to bring luxuries and premium experiences within the reach of the aspirational Indian.
DelhiPlanet: Who is your target audience and how you do plan to make the Excluzen brand resonate with them, given the massive advertising spends that some of the other players in the market are currently doing?
Urvashi: Anyone with an eye for the finer experiences in life will enjoy Excluzen. Our focus is on differentiation – to bring wonderful and exclusive experiences and products to our members.
We watch the advertising spend of some players with amusement. It reminds us of the dot-com boom in 2000, when a lot of money chased some questionable business models.
DelhiPlanet: Excluzen set up shop in India only in January 2012, what are some of the major challenges that the business has faced so far?
Urvashi: The infrastructure for doing business in India is still very difficult remains relative to many other countries. For example, it takes 24 hours to incorporate a company in Singapore, in India that process can take months. Similarly, banks can activate accounts within days elsewhere, while here it takes weeks. Many forms of payment – such as Paypal or card-not-present transactions are not permitted. So these basic infrastructural things take more time and attention than they deserve.
At the outset it does seem that business models such as those of Excluzen have a higher chance of success, than non-differentiated clones. However, there is one important factor that e-tail brands in India should remember; “Brand Matters”. Consumers who spend money to purchase goods online only do so with brands and sites that they trust, which not only offer great products but also great customer service. In the US people don’t think twice before making a purchase online at Amazon, the Apple Store, Zappos and other reputed brands. These e-tail giants pay great attention to detail and have spent years trying to perfect their supply-chain and CRM processes. Any new enterprises in e-tail in India and elsewhere should always keep this in mind before deciding to join the bandwagon for the sake of it.
Source - www.delhiplanet.com
Link - http://www.delhiplanet.com/index.php/2012/05/02/online-retail-in-india-jabong-flipkart-amazon-will-the-boom-go-bust/
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