When we check the WhatsApp status on our phone daily some of them are doing business by putting some products in the status and selling them to the people in the contact list but why am I talking about this now because there are two people who started a small business to sell the same online products in the WhatsApp status. The guys today have turned their business into a 400 crore rupees company. That is how the middle class mind set is in your show India. If they want to buy something they go for the things suggested by their neighbors or friends and family members rather than a branch suggested by a big celebrity. If they buy they have grown to compete with Flipkart and Amazon which are big companies but let us try to know what is the business strategy followed by them. Amazon and Flipkart look like a normal e-commerce, but actually they are very different because the business they do with you is the business model. I am going to tell you how it grew into a big company. Two engineering graduates studying in IIT Delhi Sanju Banwal and Vidyut Atreya, after completing their engineering in 2012 worked separately for three years. Finally, in 2015 they resigned from their jobs and decided to start a business together in a local restaurant. Same as they were taking food and delivering it to the nearby customers they also wanted to take clothes from the local clothes shops and deliver them to the nearby customers.
This is called hyper local business model in business theory. It means to deliver the product that is near to them instantly based on customer demands but their ID is very simple, yes, and Swiggy and Zomato were successful in doing this business, so in 2015 they designed an app called Fashioneer and started their business but this business is very It failed miserably and the reason for this is that when they started the business both of them were local but they went around to all the shops and took pictures of the products there, and they used to go directly to the orders and deliver them to the customers. Basically the reason why a customer prefers online over offline is that there are more designs and models available online than the designs available around them but because they only sell local products in their business none of the customers use their services much, on the other hand the sellers of clothes. Also explain their business by selling their products online to customers in different locations rather than local customers.
So the two founders who noticed this and started solving the problem in their business model, started this show today but if you want to know how your show business works first of all you need to know about the two business models in this commerce business. If we look at B2B and B2C Amazon and all three we think that all these are the same business but that is not true because your show business model is very different from Amazon and Flipkart.
It means that if a customer wants to buy any product, he can directly buy it from a seller on Amazon or Flipkart website. It means business to customer but your show company follows the rate B model means business to business how it works is not selling directly it sells through a mediator in the middle they are called resellers listen carefully some people who are in our contacts regularly post some products on whatsapp facebook and instagram They do business by taking some commission on them and selling them. There are people who do this in every corner of India. They all do their business as disorganizers that is they do their business without any relation to each other. Due to being in direct contact many customers trust them and buy products from them regularly. But now what Misam has done is that they have brought all these resellers under one platform how many sellers in India upload your sola to sell their product then all these resellers also take the link and photos of that product and upload it on their WhatsApp Facebook and Instagram and their contact. These products are sold to the customers in the business model. Do you understand, here you may get a doubt how we order on Flipkart and Amazon we order in the same way colors but mediators but when are we not seen At that time Amazon and Flipkart were ruling the e-commerce business in India so in such a time, it would be very difficult for a small e-commerce company to compete with them. If they want to compete with them that company must come with a different business model and strategy and the company that came in that way is meeshow
In 2015 companies like Amazon and Flipkart mostly focus on tier one cities and do business because the customers there earn more and make online payments easily but tier and tiers do not like to make large online payments, so they all get the products they want from the local store or photos on WhatsApp. They buy from the uploading resellers they mostly focus and provide cash on delivery services everywhere, it has been growing slowly and steadily but now I understand now let us see how this company earns money. There are three types of income. But in the present tense this commission has been made zero percent with the intention of competing with Amazon and Flipkart companies which are your search competitors which are big success in these e-commerce companies. If there is no commission then there is no need to do the same next insurance that how the money will come to this company so more sellers want to sell more products than Amazon and Flipkart which means that the competition between sellers will increase, so when someone searches for a product in a customer all the sellers who sell that product They think that customer care should be shown in front of their product yes but it does not happen for free so in order to be seen in front of the customer they have to pay some money to the sellers who supply that product this is called ad revenue. Next revenue source logistics In order to take care of the customer of the product sold by Visa Company
Like Express Base Delivery and ecom Express your show company charges some commission on the delivery charges by dealing with companies that provide some logistics and delivery services. Next Revenue Source Selling data to make money is illegal. But companies earn revenue by selling data that does not disturb customer privacy for example what kind of products do customers buy, what features do they have, and what price range do they order They sell them to But due to this there is no problem for the customers or their privacy One of the biggest challenging task is to make a customer satisfied with their service and make them shop again. In fact it is a very difficult task. Big companies introduce eight subscription models to lock customers in their platforms and make them shop again and again but your show company is not like that in customers It has become a favorite shopping place for customers in small towns by increasing trust. If your show company delivers 100 crores of orders in a financial year, 85% of the orders are repeat orders service.
It is not a common thing to increase the trust among customers, and many investment agencies like Capital Softbank, Beta Siqua Capital, GST Partners and RPS Ventures have invested a few hundred crores in the company and the company valuation dollars to compete with Amazon and Flipkart who spend any amount of money for customer accretion. That is about more than 40 thousand crore rupees, so finally one important thing that we need to learn is that whatever idea you want to do business with take the stable thing and go to the market. But why am I saying this because both Vidyut Atreya never started their business with their initial idea after putting their idea in the market and seeing the response to it, they changed it and improved it and today they were able to marry a company of 40 thousand crore rupees.
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