Online selling is simpler than ever. Retailers’ have been greatly impacted by the outbreak of the pandemic. Even without that retailers faced stiff competition from online shopping sites. Shoppers’ belief that online shopping is cheaper and convenient, contributed to this issue. To tackle this, many retailers are trying to meet the increasing demand of customers by entering the online market. But certain technical knowledge and device adaptability is still required for using these platforms.
To make this whole process a lot simpler and efficient Baaz is here. The new SS stop. What’s SS you ask?
SS refers to both the shopper and seller’s, one-stop. Here shoppers can avail of products from the safety, and convenience of their homes and sellers can market their products with ease. Consequently, a total win-win situation is created. To understand the functioning of Baaz more profoundly, let’s hear from their team
1.What is Baaz? How does it make the lives of retailers easy?
“We’re enabling live video commerce for the global non-marketplace e-commerce industry. We have often found ourselves asking this question – “what important problem is nobody solving?”
Our answer to that is – for a long time live video commerce has been happening in the global marketplace e-commerce industry quite well and it is quite structured and organized. Whereas that is not the case in non-marketplace e-commerce. Live video commerce is very unstructured & unorganized in non-marketplace e-commerce. There is a broken implementation of technology and it is highly unproductive as well as inefficient. But nobody seems to be doing it right. We decided to tackle it ourselves. Founded by a few problem solvers and salesmen. Baaz aims to revolutionize online selling for the global retail industry.
Retailers can host live videos, manage catalogs, live chat with customers, collect instant payments, in-video checkouts, market their live shows, manage to ship & manage influencers all from a single mobile app. Baaz also integrates/syncs up with Shopify globally.”
2.How did you come up with the idea and what was the Eureka moment?
“While working with several local retailers across Bangalore for over two years across eCommerce, advertising, marketing, and content landscape, between November 2019 to Feb 2020 we were regularly noticing an increasing number of retailers providing live video shopping to customers using Whatsapp Videos, Zoom Video Calls, Facebook Live, Instagram Live or Youtube Live as an alternative to physical(offline) shopping due to customer’s hesitation to come out after COVID-19’s news was spreading.
Across all the live video shopping experiences that we witnessed or helped in, we found that it required extensive use of several different technologies(videos, chats, order management, payments, marketing, and shipping) to complete a single transaction. Like using one tool for hosting live videos, another for chatting/communication/sending product pics or screenshots/customer support, another for payments, another for shipping, and another for marketing/promoting. We felt this was too inefficient a process and started looking for existing solutions that could help solve this inefficiency problem for retailers. We were unsuccessful in finding a relevant solution & hence decided to build it ourselves.
Today, across the global eCommerce landscape live videos or videos are extensively used to conduct commerce in marketplace models(like Amazon, Flipkart, etc.) as well as the market is quite organized and structured with several templates available to execute. Whereas, in the non-marketplace eCommerce model(indie store’s e-commerce websites, website builders, social commerce, other similar selling platforms) the live video commerce is very unorganized, unstructured and there is an increasing need for a tool that can enable a retail store to add live video shopping. The need is primarily among two types of retailers globally – a) a store that wishes to add live video shopping to his/her existing online selling strategy, and b) for a store that has started coming online recently after lockdowns and doesn’t know much about technology or building an eCommerce site for himself. So selling through a tool like ours helps him get to market faster with little to no upfront cost.
We aim to be the go-to tool for any retailer globally who wishes to add live video shopping and millions of retailers who are transitioning to online from offline every day.
3.How does Baaz work? What is the technology used?
Retail stores can simply download our android mobile app through the play store, sign up, add products to the catalog, share live video shopping store’s link with customers, and go-live. All of this in less than 1 min.
On the other hand, customers can access live video shows, chat with stores, browse through the product catalog, add products to the cart, and simply perform in-video checkout through a simple shareable link. No need to download any app.
Retail stores can conduct live shows in both 1-to-many and 1-to-1 formats. This gives them the freedom to market their store to the masses and also provides several personalized experiences.
We’re also partnered with Shopify, so any retailers across the world who have a store on Shopify can simply enable live video shopping on top of their website with just a click of a button.
Plus if the retailer has a standalone e-commerce website, we can add live video shopping to the top of that as well.
A happy customers tale-
Dr. Anjali Tayade, a middle-aged mother of two, also happens to dawn the hat of running a fashion store or “her passion projects”(as she likes to call it) from the neighborhoods of Mumbai. Our team met her some days back regarding how she could set up a live video shopping store with Baaz for her company, Arthita Bags.The real action took place on 30th January, when Arthita Bags made a sale worth INR 1Lac (USD 1371) in a live video show of just 30 minutes via Baaz. For us, victory lies in hand holding entrepreneurs like Dr. Anjali and helping them grow.
Here’s a another Customer of Baaz.live sharing his experience
4.How did you come up with the idea of Baaz?
Chitresh Parihar had recently taken an exit from his previous startup in mid-2017 and was exploring the next thing to work on in addition to looking for a partner. He had met Ruben Gregory in 2010 at a student conference & they both stayed in touch while pursuing different things. Early 2018, Ruben had returned to India from the US after completing his masters and working there for a few years, both decided to meet casually after 4 hours of conversation they knew that they would work together, no matter what the idea was. Both of them have been working for this company for 2 years – where Ruben is taking care of building technology and Chitresh takes care of overall execution.
Earlier this year, Chitresh’s friend Siddharth Gupta also joined in to take care of business development
We’re a team of 80% ex-entrepreneurs and that is our biggest strength. We’ve intentionally made sure that the DNA of our team is of people who like to build things from scratch and we’re very lucky to have such a talented and solid team to execute on our vision
5.Could you give us a background of the team?
We’re a team of 6 people full time right now. Core team: Chitresh(30 Years) – Founder & CEO @Baaz. An engineering college dropout, former president @aiesec, marketing manager @patrika group & cofounder @Playlyfe(exited).
Ruben(30 Years) – Cofounder & CTO @Baaz. B.Tech @Anna University, MS RnD @University of Texas, Research Assistant @CommScope & RnD Engineer @James Hardie in the US.
Siddharth Gupta(28 Years) – Head of Business @Baaz. B.Tech @IIT Roorkee, MBA @IIM Calcutta, Cofounder @Blockseed, Cofounder @Parati.
6. What has been Revenue, traction, and growth from the date of inception till now?
We have 170 stores across India. Garnered about 40,000+ viewers and have processed 1400+ orders. The stores vary from Fashion, Organic Farm Fresh, Lifestyle, and Beauty, and Books categories. We’re doubling the number of stores month-on-month.
7.What’s your revenue model?
Baaz is available for retailers as a SaaS tool. We have three plans – Basic, Boost & Premium.
Basic is available for free aimed at someone who is getting started and wants to experiment with your product. Boost is available for an affordable subscription plan, with in-built marketing tools included in it. Premium is also a subscription plan aimed at a retailer who is looking to get access to influencers to conduct the live shows.
In all plans, we charge a minor transaction commission on top of the subscription fee.
8.What are the unit economics and margins for a business like this?
On every Re. 1 we are spending, we make Rs. 1.4. So unit economic wise, we are making more than we are spending. And we are making an overall margin of about 33% on a per-transaction basis.
9.What are the costs of building something like this (approximately)?
The cost of building this is quite high if a store was to build it by themselves. Whereas using our product brings down the cost of providing a live video shopping experience by almost 200 times.
We’re targeting two types of retail stores – a) a store that has been under-served through technology up until the time lockdowns began, for them making an e-commerce website will not make sense and, b) a store that is technologically savvy, who has an e-commerce website, sells through Facebook live or other such platforms.
10.Could you tell us about the company’s next plans?
We aim to be the go-to tool for any retailer(24M Indie e-commerce websites, 3.7M e-commerce websites on website builders, 80M+ stores on social platforms & 130M stores on Whatsapp) globally who wish to add live video shopping and millions of retailers who are transitioning online from offline every day.
Physical stores provide a trustworthy shopping experience but are very expensive to run. Whereas, e-commerce websites provide convenience & ease of distribution but require expertise along time to show results and can be sometimes more expensive too. And with live video shopping stores, we intend to bring the trustworthy-ness of physical shopping and convenience as well as ease of distribution of e-commerce together at fraction of cost to retail stores.
We are always on the lookout for great people to work with and grow our team – so anyone interested to work with a team full of ex-entrepreneurs focused on execution – write to us directly at firstname.lastname@example.org.
With four simple steps, you could market products on Baaz. It is both cost-friendly and efficient. Their application has a rating of 4.9/5 on the play store and several happy customer reviews.
To know more, visit their website- https://baaz.live/
Application download link- https://play.google.com/store/apps/details?id=com.baaz&hl=en_IN&gl=US