Today’s flavour seemed to have stretched the idea of doing commerce in India. After seeing the advent of e-commerce and m-commerce which is still growing, several start-ups are going the Amazon way to develop neighbourhood commerce (n-commerce) to make lives easier for the consumer and exploit the growing market of commerce. But Lazy-Lad, a company formed by a group of IITians, is different from most other start-ups.
Formed under the head of Angular Technologies and registered in Chandigarh, Lazy-Lad aims to give users a shopping experience (only daily use products and groceries) like no other. “We are a tech enabling platform and through an app we will bring consumers and local shops together for a small area what we can call neighbourhoods (mostly an area of five kilometres) and aid daily use products delivery within 90 minutes,” Saurabh Singla, CEO of Angular Technologies and Lazy-Lad, said.
Further explaining, Saurabh said, “What we have done is identify neighbourhoods and the daily need product-selling shops in them. Then we put them on the app where products are divided into 17 categories. So essentially, consumers come to the app, select the items and then the app places the order to the nearest store which will have to deliver the goods in 90 minutes.”
Saurabh said, “We are working on to bring down the delivery time to 60 minutes and then eventually to 30 minutes.” Already, Lazy-Lad has presence in three cities including a tier-III city (Sirsa) and have already partnered with 50 stores in Gurgaon. “The firm aims to have over 150 employees in over six months which will be handling the call traffic and other end-solutions with customers,” he said.
But the USP of Lazy-Lad is not that it is catering to n-commerce. Explaining further, Ajay Sethi, CMO of Angular Technologies said, “We are different from most start-ups as we don’t have to care about logistics. The new firms are trying to create their own delivery fleet which sort of pushes them towards losses and hinders scalability of operations.” He added, “That is why we have decided not to take this risks and this
also helps us to expand faster to smaller cities without added costs.”
The start-up is looking to raise funds amounting to $1 million for their plans of India expansion over the next couple of years while they expand in metros for the time being as they will face competition from the likes of localbanya.com. “The online retail market size in India is $440 billion and we are looking to gain 60-70% of this market share over the years while we are expecting to grow 20% y-o-y,” Saurabh said.
When asked about their revenue model, Ajay said that the company wouldn’t be making any money via the app as the app is free. “We will make money through promotional partners. Once the consumer has done his shopping he will get few points which he can spend win their local centres like gyms, multiplexes etc. This avenue will earn us revenue. We are also looking at data mining and analytics to make more money. We can share sales data with big companies like Unilever and earn our coin.”
The app also monitors health of a consumer and tracks the amount of calories bought. “Again this is a free service and we will not charge the consumers for it,” Ajay said. Lazy-Lad is currently only available for Android now but the iOS version is due to come in June. The Windows version will come later during the year.