Tell us about LootSpot.com
LootSpot is one stop e-shop for all kind of daily use accessories(Camera, Mobile, Laptop, Gaming, Apple, Storage) one wishes to have but unable to find. LootSpot gives its users an unmatched blend of design, most useful and fashion inspired line of accessories which make gadgets more attractive and useful.
How is LootSpot.com different from other e-commerce players in the market? What are your key differentiators?
It is first of its kind website in India dedicated to selling gadget accessories online. You have an option to choose from a wide range of stylish, genuine and premium gadget accessories and get them delivered at your door step. At LootSpot, buying gadget accessories from exclusive International brands like iSkin, Belkin International, Samsonite, Capdase, Urban Tool, Cygnett, Dream Gear etc which are not available in Indian markets will be just a click away. It offers best browsing experience for its users. User friendly look and shopping experience is one of the best aspects of the website. The site provides detailed description of products with close up pictures from different angles and even video demos for most of the products.
How did the idea for LootSpot.com come about?
In India, it is difficult to find the right accessories in nearby markets and is even overly priced. Moreover genuine Apple and Blackberry accessories are exclusively available only at Apple stores or in Malls and that too at MRP. The non availability of these daily needed accessories paved the way for developing lootspot.com
Tell us about your background
I have been brought up in a Marwari business family in a small Village in Rajasthan. Instead of joining our family business, I have always dreamt of creating something of my own. After my education, I went ahead joining an MNC. In spite of the financial stability while working in the companies like Amdocs and Patni, I realized that it wasn’t my passion to work in a software service company. Apart from my innate inclination towards entrepreneurship, my brother Sanjay (a successful entrepreneur) was another motivation behind the creation of LootSpot and SaleDekho (My other successfully running Venture)
Let us know about the tie-ups that you have
We have tied up with National distributors for various International Brands like iSkin, Samsonite, Belkin International, Lowepro, Urban Tool, Gecko and many more all across country.
Where do you see your company five years from now?
I see LootSpot as India’s largest accessory store that offers every accessory imaginable from all across the globe. We strive to bring finest and the best quality accessories to the doorstep of our customers from the world over. If there is a gadget out there, LootSpot will offer an accessory for it.
As Amazon is for books, E bay is for Resellers similarly Loot Spot will be the portal for Accessories world over.
What is LootSpot.com`s revenue model?
It’s an Ecommerce portal for accessories. Customers check out the products and order them as per their requirement by making payment through various options including credit, debit, visa, master cards, cheque, net banking etc.
As an entrepreneur, what are your joys? What are the challenges?
Entrepreneurship is all about innovative ideas, individual initiatives and greater speed in taking decisions rather than organizational discipline and adjust-ability. Finding the right people, developing a team and managing the resources judiciously has been a big challenge. Capital as always was in dearth, so striking a balance between the resources and the capital sometimes seemed to be an uphill task. Moreover tying up with the national distributors as a start up was an arduous task/really tough.
The joy of doing something that we really love doing is absolutely amazing. In spite of the financial security while working in the companies like Amdocs and Patni, I realized that this wasn’t something that I would love doing all my life. Hardships and challenges have become part and parcel of our day to day life. New challenges every day force us to push ourselves beyond our limits and bring out the best in each one of us.
How big is the team? Are you looking at hiring?
We have a small team that comprises of the following in lead positions:
Saurav Adlakha: An Eco Hons Graduate with a dual masters in Marketing and Finance handles Product acquisition and management at LootSpot. A young enthusiastic professional with an eye for detail, loves to experiment and explore new challenges.
Prerna Garg: Never overlook the power of simplicity is what goes well for Prerna and her unique design patterns. Having worked with Raw Mango, a fashion Brand, with a flair for colors, themes and designs, heads Graphic Designing at Loot Spot.
Hitesh Sharma: Hitesh has worked as a Marketing Head in a Print Media Company and have experience in Television Shopping Company. With extensive skill set and expertise in E-commerce business and operations, he plays an instrumental role in Vendor Acquisition, Operation and Customer Support. We have a team of 25 people which includes developers, graphic designers, data entry, online support, packing support etc. Yes we are currently looking for hiring online support.
Anything else that you want to tell us?
We started receiving queries from customers even before we officially launched the website. We received several queries from prospective buyer who landed on to our website after searching for gadget accessories on Google. Right on the first day of the launch we received 500 hits and 8 orders. The response has grown better ever since and the number of orders is on a rise. We are seeing a substantial increase in the number of visitors at LootSpot approximately 90% daily(Alexa). We already have a good list of satisfied Happy Customers.