So your best friend is travelling to the US and you are confused with the list of things you want her to bring for you? Or maybe it’s the Thanksgiving Sale and you are sitting here in India, sighing if you could grab those deals! Well, If Yes, then here’s WorldsWorth.com – an e-commerce site that brings the World’s worth right at your door steps. “The World is flat” is a reality now, at least in shopping terms. The company claims to bring nearly 1.7 million retailers in the US and their deals to your finger tips. The website offers both retail and a Mall environment as per the convenience, knowledge and desire of the consumer. Offering Dual e-commerce for the first time in India, the site has been built on the e-commerce platform supported by SkyPostal. In a very short span of just one month, the website has generated huge traction and is also buzzing on social media. Currently offering only the U.S. gateway, WorldsWorth would be plugged in with other shopping havens including U.K., Hong Kong, Singapore, Dubai, Malaysia, Australia & China in the coming months.
After the launch of the portal, the company is now looking out to market itself and establish as a strong brand. It is looking out for both creative and media agencies to help it tread on the growth path.
Dhiraj Shetty, Director, WorldsWorth.com talks to Deepika Bhardwaj on the plans and the way ahead. Excerpts from the interview:
What were the trends and statistics that led to WorldsWorth launching in India? Could you throw some light on spending by Indians on goods from US or UK that made you enter this space?
According to an IAMAI (Internet & Mobile Association of India) report published last year, the Indian ecommerce industry booked revenues of around Rs 46,000 crore in 2010-11 of which Rs 38,000 crore was purely from online travel and around 6 per cent was contributed by the online retail space. Though 6 per cent seems quite a small contribution, one has to understand that the business is at a nascent stage. Online retail is a convenient platform that Indian’s are gradually adopting due to stress of time, traffic, parking problems and it will prosper over a period of time. Thanks to online travel and low cost airlines, Indians have started travelling abroad and consuming international labels that are reasonably discounted when compared to the Indian price tag. They are aware of international deals, brands & merchants and know which International gateway will offer the best price or value on a particular product. NRI relatives and friends bringing bulk of lifestyle products back home indicate the demand.
Analysing the above points from a macro and micro level and with a vision of bringing Global Deals to local Indian doorsteps, we took the decision of venturing into the e-commerce space and that is how ‘WorldsWorth’ came into being. Thanks to our existing global logistics company, we have a strong infrastructure to begin with.
Indian consumers are still opening up to transact online and a fear of losing money still lingers. In such a case, how do you plan to infuse a sense of confidence amongst consumers that they will get their products shipped from abroad safely?
Before we started building WorldsWorth, we were and still are consumers and thus we also think on the same points before transacting online. Keeping this in mind, we are in the process of implementing Hybrid customer service touch points that would let our customers interact, track, replace their products by connecting virtually (chat, email & voice) or visiting our local offices being set-up across the country. We are one of the only e-commerce that has such kind of a model. The Hybrid model will give assurance to consumers that WorldsWorth is a brand that they can trust and connect with, locally.
How do WorldsWorth Mall and Retail differ? What differentiation do they bring to consumer?
A majority of Indian consumers like to visit various stores, brand outlets and malls before they decide to buy the product. The decision is based on best price and value that the said merchant provides. Similarly, the online consumer conducts research from multiple portals (a minimum of three portals) before they decide to transact. But this is a hassle as one has to open multiple windows for their search. Keeping this in mind, we built WorldsWorth Retail that mines out the retailer’s information who offers the desired product along with the price. This helps to reduce the hassle of visiting multiple windows. Once the consumer selects the retailer, we guide the consumer to the retailer’s portal where they complete the pending transaction formalities.
However, there are consumers who know the details as well as the value of the product and like to transact from one window rather than visiting multiple windows. Thus, we have the WorldsWorth Mall, which has a range of brands and products on its platform, offering consumers to search and transact within the same window. With the two windows in place, we are able to cater to different customer requirements - A Small World. Smart Options.
India is already a cluttered market in the e-commerce space. How will WorldsWorth create its own space?
Yes. We do agree that the e-commerce space is cluttered. However, the space is cluttered in the “local deals” space. There is a huge space on the “Global Deals” front, where we have just a couple of players. With our well established global logistic support, we would be one of the pioneers in actually getting global deals to the local Indian addresses.
How are you going to the markets? Have you chosen your brand partners?
The website is currently open to well wishers for feedback and suggestions and we would be all set in a couple of weeks. We are currently looking for both creative and media agencies who can partner with us in this journey. We aim to roll out our campaign in next few months. Our campaign will have a mix of online and traditional media, though we are still working on the ratio. We have a reasonable universe of consumers, thanks to our other group companies who are into hospitality, logistics & travel. Our initial spends would be marketing to this universe. We will then follow a step-up marketing strategy to communicate to the external audience. Our Social Media is currently being looked after by WatConsult.
What will be WorldsWorth’s USP?
Our USP is “We deliver Global Deals to local address…”
We are the only company that has forayed from logistic into e-commerce. Thus, offering our customers a secured end-to-end global shopping solution. WorldsWorth is an integration of technology with a well-established logistic business. With our global network, we have the reach that is an essential ingredient for making an e-commerce business a success.