Startup HomePunch aims to be an online appliances megastore
With the current e-commerce landscape in India, consumers have numerous choices available to fulfill their needs from a hairpin to a car. HomePunch, with its online home appliances megastore aims to cater to the demand for a specialised service provider, which not only solves the complexity of choice but makes it even easier for the consumer to make an informed decision while making a purchase. “The idea was to enable and empower consumers to buy the widest and the best of brands with complete product info at no extra cost. Our offering was to ensure the whole experience is backed with absolute brand assurance and satisfaction unlike prevalent marketplaces. At the same time creating an ecosystem of brands (national and international), e-tailers and consumers under one larger platform,” explains Sachin Goel, CEO of HomePunch.
The startup was founded by Gautam Seth, who is also Managing Director. Gautam leads all operational and brand building aspects of the company. HomePunch started with 5 people and during its journey it has grown to 25. The team has been selected from core ecommerce and appliance backgrounds. The team also comprises of people from analytics, research, supply chain and technology backgrounds.Read more ↓
Explaining the business model, Goel explains, “HomePunch model is self sustainable as we are creating an ecosystem of small home and kitchen appliance brands, e-tailers and a niche consumer to come together.” He shares how, in the recent past, Indian consumers and brands have starting accepting ecommerce as an alternate channel for their shopping, However the concerns over the brand, genuine products and brand assurance are missing in many e-commerce places. “The new age consumers are more comfortable buying from experts and the smart shoppers are leading way for specialised players like HomePunch to match their needs and aspirations,” adds Goel.
“Online shopping is synonymous to convenience and a great experience. We are focusing on delivering the same through the best in class web interface backed with strong platforms and an upcoming consumer app,” says Goel speaking about investment in technology to make its services more accessible to consumers. The company focuses more on the quality of the products it delivers than the price. “HomePunch is not the cheapest places to buy or promote discounted price and non branded products. Products at HomePunch are optimally priced to bring best value supported by absolute brand assurance and peace of mind,” says Goel.
The company is currently fully funded internally; and is open to investments if the business need arises. Speaking of the company’s growth and future plans, Goel says, “HomePunch is in the process of building brand identity and establishing it through digital platforms to build required traction and traffic. HomePunch aspires to become the most preferred online destination for anything and everything in home and kitchen appliance segment. The segment is volume driven and is not price sensitive. Given consumer lifestyles are changing and with rise in disposable incomes and urbanisation on the rise the potential in small home and kitchen appliances is huge with people willing to invest even a little extra for better products to bring the desired benefits in their lives.” Goel continues to explain that other similar offerings have a seller-based model but HomePunch is a direct brand driven model, where sellers acts as fulfillment arm, ensuring the brand’s online and offline sales equilibrium is maintained.
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