Breakthru…. Executive Summary BUSINESS PLAN Topic: Online Retailing Submitted By: Deependra Netam Contact: 9159619328 deependra. [email protected] com DOMS, NIT TRICHY Online Retailing (Online Selling And Home Delivery of F MCG Products): Executive Summary Idea : As people get busier in their life, they need to really plan out their schedule and use their time constructively. This idea basically targets working professionals (singles or married couples where both are working) who are very busy in their life-mainly office going people who start early for office and come late at night.
With the corporate world going more busier with greater work load and higher packages, you like jobs that are not very important for you to be done by someone else, so that you devote your time on things which are close to your heart or important for you. Shopping FMCG products like soaps, detergents, tooth paste, packed food items, shampoos, oils, kitchen products and other household products are some of them that one would like not to spend their valuable time when they have other important works to be completed. People generally know the items that they need and they have to buy it on a regular basis.
It takes considerable amount of time shopping for these items in a traditional way and even with retail chains, where considerable amount of time is taken in searching for the products, billing process and product verification according to bill. To make this task simple we have come out with a concept of online selling and home delivery of products. Consumers have to visit our website where various products information will be available. They will be provided with a facility to buy it online in a shopping category of our website.
They can directly go to this particular section and make the list of products they want to buy which are categorised according to product types available through drop down menu which they have to select and the quantity they want. The rest of the billing process will be done automatically. They only need to finally pay the final amount either online or personally when the product is delivered to them. Once the order is received from the customer the executive of that area is automatically prompted to see at the request.
We will have collaboration with local retail shops who can give huge discount to us on regular basis. So once the order from a particular locality is received, the executive at our local office makes contact with the retail shop and communicates the order and gets the order to be made ready. The executive then informs the delivery boy and provides him with the duplicate of the bill which he has to get it signed from executive once the products are delivered to the customer. The retail shops meanwhile can be ready with the products. Innovation Quotient:
This model is not available in this product category and more over we provide the service of home delivery. This is entirely a new concept for FMCG products which the existing business models have not been able to tap. Moreover, there exists a huge market for this kind of selling concept. Our target customers are busy people who start for work early in the morning and come late in the evening. However attracting customers from other segment would be an additional advantage. Thus our target market and the customers are entirely new concept which has not been tapped yet.
With the increasing number of internet users and busy lifestyle shopping FMCG products from home would be next big thing. The Market/ Target Segment: Today, the percentage of internet users in India is 7% or about 49. 4 million. Of these 82% are from urban areas. FMCG sector in India has a market size of US $13. 1 billion which is expected to grow by 60% by 2010. This simply shows the future prospect and the opportunity of this market. The target customers are working professionals- singles or couples (where both of them are working).
This concept could be applied for metro cities where the percentage of internet users is more and has the right kind of atmosphere for our business to flourish. Cities like Delhi, Gurgaon, Noida, Pune , Mumbai, Chennai, Ahmedabad, Hyderabad, Kolkata have better market for this business plan. The working professional in such market are normally busy and the traffic congestions adds to their woes which makes an opportunity for our business model to grow. Why Venture? As a business enthusiast we like to venture out on idea which would give us an opportunity to make a place in the market.
As a starting firm we would not have an advantage over existing market segment or existing business. And entering in the already existing field would make it difficult for us to gain the market. However, this idea of would provide an opportunity for anyone to create a market in the chosen field- a good idea to venture on. More over this would provide an employment opportunity for others whom we plan to employ. And rather than taking job if we can give job to someone we would feel more privileged and good about actually giving creating a job for someone and an earning source for a family.