Tracking advancements in mobile technologies and big data in India, young and dynamic entrepreneurs are entering the arena and developing businesses in the area of on-demand market places such as Travelkhana, Grofers, Peppertap, Uber, Ola Cabs, and Oyo Rooms, among others. Entrepreneurs are looking at this spare capacity and appetite in the market for such services and aggregating services needed by consumers on a daily base.
At the NASSCOM Product Conclave 2015, entrepreneurs from the field came forward to share their innovative market ideas and inspire potential entrepreneurs in India. In Indian households, consumers are looking for a service provider who can compile mundane household chores and do it for them. “Companies can be seen taking advantage of this opportunity in the market,” said Navyug Mohnot, Chief Executive Officer of QAI.
Ritesh Agarwal, Founder and Chief Executive Officer of Oyo Rooms explained, “Discovery of the services is not a problem but it is the predictability of the quality of the service. We wanted to standardise hospitality.” Gratification from the services is the need to the hour. Consumer and as well as suppliers are in need to information on the same and we supply it, added Mr Agarwal.
Navneet Singh, Co-Founder of Peppartap seeks to bring in convenience in the grocery delivery services space. In six months, Peppartap has established its market in seven cities including Delhi-NCR, Pune, Hyderabad and Jaipur. Going forward, he expects immense potential in the market and as an on-demand platform seeks to provide instant gratification for grocery delivery.
Travelkhana is a platform with over 10 lakh users under its umbrella and is working in the on-demand food business for consumers who are on-the-go. “By standardising the menu, we want to remove friction from the concept of food ordering,” said Pushpinder Singh, Founder and Chief Executive Officer of TravelKhana.
Despite a host of opportunities in the market and a conducive market environment, entrepreneurs continue to be haunted by the market dynamics. Constant satisfaction of the consumer is a challenge that they are struggling with everyday. However, balance between good consumer experience and cost efficiencies must be managed efficiently. Mr Agarwal reiterated the sentiment and has placed technology at the forefront. Navneet Singh added that convenience and price advantage will continue to play a key role in their businesses, which will improve with scale.