Figgital is a venture of Grow India Ventures Pvt. Ltd which also runs Pumpkart.com a b2b E-commerce operator since 2015 and doing digital distribution of branded and non-branded products to retailers.
Figgital.com a specially designed Hyper local eCommerce platform aiming at current situation of covid-19 all over the country. We have a business model which will provide a dual benefit to retailers on one hand. We will deliver the product to them they want through pumpkart.com and on the other we will sell it on their behalf on Figgital.com.
This model possess that retailers can sell products to consumers without opening their shops in this situation of covid19 or either they are not getting much foot fall. At Figgital.com consumer can have products like smart TV’s,AC’s, Coolers, Fans, Kitchen Appliances, Home Appliances and water pumps which are highly demanded at this time.
The company also has a network of service centers by the name “NNJA” for the categories above these service centers provide Installation, warrant, repair services and extended warranty to its customers. They are the backbone of the platform as retailers get more confidence in selling the products purchased from the platform because of this service backup.
After inception, Pumpkart within a year shot into international fame when Sundar Pichai cited Pumpkart’s success story in his speech before PM Narendra Modi at ‘Digital India’ dinner for Top tech CEOs at California USA. This passion of Pumpkart’s team influenced the legendary cricketer Kapil Dev to endorse it as its Brand Ambassador.
While Pumpkart was growing at breakneck speed, renowned Entrepreneur, Ritesh Malik, founder of Innov8 identified its potential and invested in the company in the year 2017. This was followed up with Dr Dinesh Dua, CII Chairman for Startups and Entrepreneurship investing in Pumpkart in the year 2019.
Feathers in Crown
- The best startup company from North by Google India in 2014
- Flame Leadership Award 2015 by RMAI (Rural Marketing Association of India)
- Top 25 Influential Ecommerce Companies in India 2015 by Asian Retail Congress
- Most promising Brand of Punjab 2017 by CICU – Chamber of Industrial Commerce and Undertaking
- The Punjab State Brand Leadership Award 2017
- Leadership Award 2018 by Amity University
- Best New E-Business Award of E-commerce Summit Awards by Asian Confederation of Business
- KS Bhatia represented India in SDG business forum organized at United Nations. He was a leading panelist and an official speaker in the event.
Current Scenario
The retail sales are highly affected in this Covid-19++, foot fall of the customer has gone to 5% of the total Number. But this orientation is poised to change dramatically in this decade. By 2022, the Hyper local eCommerce is estimated to be 50% while traditional Retailers would be only 5% of the market.
Advantages
The hyper local market is currently less competitive the biggest Advantage is ticket size of the product is very high as compared to the grocery products. Another biggest Advantage is demand of products though hyper local eCommerce these days.
Major Challenges
The biggest challenge in this region is Skilled Man power, that make the way more difficult.
With the success of its eCommerce platform, We will be coming up with a Technology which will give pace to regional players to grow all over nation The aim of Figgital.com business model is to pace up Local for Vocal Products. Its target is to establish a tremendous ratio of 60:40 of Brand and Non branded products all over the market. Very Soon we will be Introducing our In house label products .Figgital.com going to be live full fledged by July . Initially we will be catering to North India Cities for Six months.
