Women often maintain a large collection of jewellery to go with their mood and wardrobe. But with the rising gold prices, the imitation jewellery market estimated at around Rs. 1500 cr (in India) is seeing a boom. Online marketers, Amanpreet Singh and Sushma Earaiah, foresaw this opportunity in the fashion market and decided to cater to the growing segment of women who are looking beyond gold to complete their look.
Launched in December 2011 by these IIM-B alumini, Scrunchh.com is an online fashion accessories store that hand picks exclusive and contemporary designs and showcases them on their website for customers. “Having worked with several big brands online, our insight into ecommerce in India is that while consumers are flocking to discount and deals sites, they are also looking for quality products at a fair price. They will pay for quality and convenience. Therefore we wanted to focus on putting together a collection of fashion accessories that were unique, reasonably priced and came with great customer service,” says Amanpreet Singh, Founder, Scrunchh.com.
With great focus on design, Scrunchh sources the products directly from manufacturers and designers, after which the team curates the best to adding the unique touch to their products. They offer their customers a wide range of classy products spanning from classy silver and gemstone jewellery to ornate ethnic jewellery. Like other new bees in the block, initially the team faced challenges reaching out to the suppliers of unique, designer jewellery. But their focus fixed, the team solved this issue by personally interacting with the manufacturers of the products. This move paid off for they are able to provide better prices to customers by sourcing directly from manufacturers and designers. To add to the range of products that they offer, Scrunchh is now tying up with major jewellery brands.
While there are exciting new companies moving into the online space lately, many customers still hesitate to make online payments. Catering to customers ranging from 16 to 65years of age, team Scrunchh sees that changing with an increase in the number of people shopping from Tier II and II cities in India. Adding to that effect is social media playing a great role in building trust for every customer has a voice that can be heard by millions on social media today.
As for the problem faced by many other ecommerce site of return of goods, “This does happen occasionally but we have reduced the incidence of the same by calling customers and taking a second confirmation before shipping. In addition we take care to ship only high quality products and pack them well so there are no damages during transit,” shares Sushma. Interestingly, the returns percentage is less than 1% for Scrunchh.com.
So what is the secret, success quotient of this startup? They are a lean organisation bootstrapped with specific emphasis on customer service and optimised efficiencies using least possible capital. “No amount of startup literature prepares you for what you will encounter in your startup journey. So the key is to start small, pivot and focus,” shares Amanpreet. Being a bootstrapped startup, they are marketing efforts are clearly focused on social media and SEO. Most of all, they focus on delivering great products.
With strong growth and conversion rates, Scrunchh is working towards the goal of becoming the largest jewellery and fashion accessories online store in India and is maximizing its efforts of increasing their supplier base in India and abroad.
For more information, take a look at Scrunchh.com
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