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Web Is Quickly Becoming A Virtual Shopping Mall: KyaZoonga
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While the look and feel of any given website and its ease of use is something that definitely factors into any decision to shop online, the lure of online shopping lies in the convenience it offers, says Neetu Bhatia, CEO, KyaZoonga.
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Friday, July 06, 2012:
KyaZoonga claims to be India’s first and largest sports and entertainment ticketing company. EFYTimes.com spoke to Neetu Bhatia, co-founder, chairman and CEO, KyaZoonga about the online retail business in India and how they have found their foothold in the industry.
Are people biased towards known brands via-a-vis a not so known brand when they make their buying decision?
Recognised brand names most definitely do occupy top of mind recall and preference with consumers in both the online and offline marketplace, but products that look good will also hold great appeal, especially if the price hits the sweet spot for any prospective customer. India is a very value-conscious market, one that consciously seeks out the perfect balance between products and pricing. Hence it becomes even more important to make a lesser known brand appealing visually and with regards to its price.
It is also very natural for one to impute the quality of whatever we purchase based on the way it appears to us, and we at KyaZoonga make every effort to showcase our products in an appealing manner while keeping the price tag as attractive as possible for a large cross-section of consumers.
What is the primary trigger for a customer to buy something online- is it the look and feel of the site, ease of shopping, easy delivery, cash on delivery model?
Convenience and ease of use are the main reasons people shop online. The Web is quickly becoming a virtual shopping mall for consumers everywhere, and while the look and feel of any given website and its ease of use is something that definitely factors into any decision to shop online, the lure of online shopping lies in the convenience it offers. Why shop at your local mall when you can get the same brand and products online, and perhaps even a wider selection, at a similar or lesser price delivered right to your doorstep? The most successful online shopping websites offer a very intuitive experience when it comes to browsing and purchasing, and KyaZoonga offers its shoppers a world-class shopping experience right from the comfort of their homes or offices. As the online market in India matures, myriad payment options such as Credit Cards, Debit Cards, Net banking and Cash on Delivery will prove to be a great enabler for online retail.
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What percentage of people use cash on delivery?
The market is trending towards 50-60 per cent of all transactions being processed as Cash on Delivery.
How much percentage of risk is involved in case of cash on delivery- have you come across cases who return the merchandise if they don’t like it or something similar?
KyaZoonga has traditionally witnessed way below industry average Cash on Delivery returns. Cash on Delivery entails risks, such as customers not having cash to pay for their product or not being at home when delivery is done, but we have instituted several risk mitigation measures to ensure that customers don’t refuse Cash on Delivery transactions. We strive to get it right at the first instance.
What is your USP in the online retail business?
KyaZoonga is India’s first and largest sports and entertainment ticketing company. We’ve sold millions of tickets worldwide and in India and on the back of our overwhelming success with the ICC Cricket World Cup 2011, we now also offer a wide range of world-class merchandise that would interest our target demographic since it ties in with the inventory we have on offer. Riding on its overwhelming success in ticketing, KyaZoonga has grown to become the leading e-commerce platform in India with several product categories and merchandise options sold through the site.
We offer a holistic lifestyle experience with access to an unparalleled customer experience across verticals, be it movies, cricket, sports or music. KyaZoonga is known as one of India’s pre-eminent sports and entertainment destinations, and by tying all of our offerings in with world-class merchandise, we can provide a user experience that is completely end-to-end. No one else can boast about the complete package in such a manner.
How many customers come to you on a regular basis? What was your go to market strategy?
We are one of the early e-commerce players in India given that ticketing as a business is primarily a transaction driven exercise. During the course of our evolution, we grew from strength to strength, eventually ticketing the prestigious ICC Cricket World Cup 2011. Being so prominent in the sports and entertainment ticketing space gave us an insight into the passion and buying behavior of our customers across the subcontinent. There was a massive market need waiting to be fulfilled, one that had the potential to enable customers to buy high quality product while they were securing access to their favorite events, and that was the genesis of our Online Store. We have since expanded our online store greatly, with customers from far flung cities showing as much gusto for our merchandise as their counterparts from the metros. The early reception for our Online Store has been greatly encouraging, and we intend to build upon these initial successes.
Is the buying behavior geography dependent? For example, people from North India prefer brighter stuff etc?
Buyer behavior surely differs as you analyse patterns across a wide range of population, and this can simply be attributed to different segments of people have different wants and needs. Just as no two people are similar, there are multiple cultural forces and socio-economic considerations at work that drive consumer behavior. So to summarise; yes, geography is definitely one factor on which consumer behavior is dependent. But it cannot be attributed undue importance since there are other factors at work that must be given due weight age as well.
Your website is the face of your brand. How do you ensure it keeps up and running? Any special measures involved?
KyaZoonga has vastly expanded the ticketing marketplace by bringing tickets to consumers who traditionally have not been able to access major events, and this has been achieved on this back of our technical excellence. We are the only sports and entertainment ticketing e-retailer to completely own its technological platform and this gives us the ability to be more dynamic when it comes to responding to challenges and offering innovations in the marketplace. Our dedicated tech team is constantly challenged to come up with new ways to smoothen the flow of the site, and as an organization we work relentlessly towards ensuring any visitor to KyaZoonga enjoys an experience that is unparalleled in its class.
How do you ensure that you get the right kind of customer feedback?
Our dedicated Customer Service team has been trained in great detail and are primed to respond to any customer feedback or issue that might arise, and we constantly listen to what our customers have to say across social networks, email and over the telephone at all times. We strive to make any buying experience on our site seamless and customer-centric, and we leave no stone unturned with our efforts to make our customers believers in our brand values.
Kalpana Sharma, EFYTIMES News Network
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