We at Jaypore believe in strategic pricing rather than providing discounts: Puneet Chawla
In conversation with Puneet Chawla, Co-founder & CEO, Jaypore, who shares the offline strategy and expansion plans of his brand.BY Mizna Gul | December 01, 2017 | comments ( 0 ) |
‘Decide, Commit & Suceed’ is the new way to conquer the market and once you’re done with it then nothing can ever stop you from going beyond the boundaries. Similarly, the concept of online retail marketing is spreading across the nation, it’s no more limited to the tier 1 cites, but also spreading the roots in tier 2 & 3 cities as well and bridging the gap with an innovative idea.
How has been Jaypore’s online journey so far?
We started Jaypore initially as an ‘iPad only’ shopping experience in August 2012 and subsequently launched the website in 2013 to meet the demands of a rapidly growing customer base across the globe.
We created a brand like Jaypore because of our shared vision of how we could present Indian craft based designs as a contemporary application, one which would appeal to the domestic and global audience. We wanted to contribute to the revival of the dying craft heritage of India and give it a viable business platform.
We have been fortunate in being able to create a niche and a loyal customer base for ourselves since the 4 years of starting operations. We have managed to sustain and grow our revenues year on year and are very optimistic for our future. We have come a long way from our beta launch in September 2012 for the US market and a limited inventory of stoles, scarves, shawls and silver jewellery. Today, our product inventory continues to grow extensively and our product categories range across apparel, jewellery, home textiles and accents, traditional and contemporary art and more.
E-commerce is a discount-driven model but you at Jaypore believe in strategic pricing and not discounting. What according to you is the key to survive in this space?
We at Jaypore believe in strategic pricing rather than providing discounts. Jaypore follows a fair-price business policy and has a long term commitment to artisans and customers through focus on the revival of traditional Indian handlooms and crafts.
What’s the average order value at Jaypore?
We do 200-400 transactions daily at an average ticket size. Also, around 65% of total orders come through the mobile website. We have an average order value of Rs 4,000.
Jaypore is planning to expand offline. What’s your offline expansion strategy?
Offline experiences are very important for building strong brands. Indian crafts marketplace is increasingly seeing many players both in offline and online formats. Most of these ventures are only focusing on craft based merchandise in isolation of the underlying contribution of the craft communities - which is where Jaypore is trying to bridge the gap between the craftsmen and the end consumers.
We began our offline journey with an aim, to present Indian craft and design on a platform that wasn’t hemmed in by location or time zones. With our offline initiatives, we’re bridging the gap between what you see online and how our designs feel in person.
How much revenue are you targeting from offline expansion?
We are targeting good revenue from our overall expansion, as we are targeting both online & offline market. We’ve got overall 48 crore in last fiscal year and 100 percent growth projected in coming fiscal years.
24 Nov 2015, Hotel Pullman, Aerocity, New Delhi.
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