Gadgets.in is an E-Commerce portal specializing in Electronic Gadgets. It aims to provide a simulating online shopping experience, by offering the latest range of gadgets and electronic products at the most competitive prices. Gadgets.in carries over 7,000 products and the list is constantly being revised. With a focus on bringing the most unique gadgets in India, it has sustained itself for the last 6 years as a technology and digital lifestyle shopping portal.Based out of Delhi, Gadgets.in is an initiative by DSF Technology Consultants Pvt. Ltd, a professionally managed organization backed by an able and experienced management team that has been working with Internet and E-Commerce technologies for the past 15 years.
“We are focused on a vertical. So, this gives us greater ability to provide meaningful informed pre-sales and post-sales tech support to our customers. We carry hard to find and unique gadgets that are generally not available easily,” says Co-founder Anmol Taneja.
They plan to upscale their business by adding more products in their vertical. They also plan to do their own logistics in larger markets. Additionally, they plan on adding specialized custom services for business customers. Self funded so far, they now look to raise funds to help grow their business. They are looking for both funding and a partner that would complement their offering and enable both to grow together.
Customer Base and Revenue Model:
Gadgets.in has focused primarily on the B2C market in India, but also has some B2B customers. Their typical customers are gadget lovers looking to treat themselves or gift a loved one. It is someone looking to upgrade a computer system or looking for an accessory or component, as also corporates looking for the right computer related product for their office use. They provide all modes of payment including Cash on Delivery.
Gadgets.in has kept its pricing policy transparent and asserts that the prices they post are all-inclusive and there are no hidden charges. Hence, the customer pays as per the listed price and gets the ordered product, appropriately packaged at his/her doorstep, free of cost as they have free delivery of their products all across India. Their revenue model is to earn from margins on product sales.They have had about 30,000 customers thus far with sales predominantly in India although once a while they do get orders from international markets.
Gadgets.in is the brainwave of Anmol Taneja, a serial entrepreneur who is an Aerospace Engineer and a Commercial Pilot; and Vani Taneja - who holds an M.Sc. from London School of Economics and a Bachelors in Mathematics from LSR, New Delhi.
The two had just sold their previous venture, which was a software company, and were looking to start something new. Due to the non-compete agreements, they could not engage in a similar business. Meanwhile, E-Commerce was just starting to get popular and they felt it would have good potential. That was how the business idea of gadgets.in was conceptualised in 2006.
However, it was rough initially as they were starting up at a time before the general acceptance of E-Commerce by the Indian consumer. Their initial Advertising / Marketing spends did not yield expected results. Not only was it difficult to gain a customer's trust, it was equally difficult to get merchandise delivered in a timely manner. But both of those issues improved significantly over a period of time. The market size, that was not big enough for a Vertical segment, showed some improvement too.
“The journey initially was much tougher. It has improved significantly but with the improvement has come significant competition and pricing pressure,” Anmol tells Yourstory.
Their challenges today also include having enough funding for operations and expansion, as also attracting and retaining the right talent.
“Every once in a while you have a bad day and you feel down, you consider quitting and taking up a regular job. But I know that they will not last forever. As long as you continue to work hard and be innovative, you will turn the corner. And that is how Gadgets.in has sustained itself in the market all this while!”