Website : https://mydukaan.io/
Presented by Darshan Gandhi : @darshang_
→ Summary
Dukaan's SaaS-powered platform allows small-to-mid-size offline enterprises sell their products online through digital storefronts. It enables small businesses to become digital and sell their wares over WhatsApp. All that is required of a dukandaar is to download the app, register their business in 30 seconds, and list their items.
Customers may place direct orders by sharing the link to their business over WhatsApp. Merchants/ Grocery shop owners may manually upload their merchandise and start selling to their clients once they've set up the store. The company also assists these businesses in accepting digital payments.
Dukaan has onboarded more than 5mn+ dukaandars and has done more than 2.5mn orders.
→ Product
- Details
- A no-code SaaS service built primarly to provide the merchants an opportunity to set up their digital presence
- Features include adding bulk products, invoice generator, analytics, online payment
- Target customers include merchants, individuals offering services
- increase their reach
- launch an online presence with a custom domain
- accept payments seemlessly
- deliver products without worrying about operations & logistics
- The product has acquired 99.5% of all merchants on the platform organically
- More R&D would be required in AI/ML front to help merchants with understanding their customers, predictive analytics and recommendations
They are ready to buy the services being offered by Dukaan to :
- Roadmap
- Potential Challenges
- Customer awareness & acquisition : since most of the businesses they are catering to are offline, acquiring them is a challenge
- Scalability : with more merchants getting onboarded, high order demands would require to be facilitated with increase tech & operational cost
- Ease of use : since the product is only supported in english, it’ll be difficult for merchants who are not accustomed with it
→ Sales/Marketing Strategy
- Connecting with merchants by launching campaigns both online and offline to spread awareness about the product to the merchants, especially those who are running in tier-2 and below businesse
- Different channels for acquiring customers :
- established channels : Facebook, Whatsapp, Google, News boards, Live Events
- emerging channels : Takatak, Josh
- Company intends to onboard 20mn+ dukaandars, driving $10mn ARR in 12 months by building partnerships. It is targeting 2 million to 3 million monthly transacting stores.
→ Management & Team
- Suumit Shah, Founder & CEO:
Suumit is a 3x founder, he lead and built teams at Rankz and Risemetrics. His experitise include digital marketing, SEO and product design. In his early career, he worked as a digital marketing manager at TinyOwl and Housing.com.
- Subhash Choudhary, Co-Founder & CTO :
Subhash is also 3x founder, with successfully running Risemetric & Rankz along with Suumit. He has also worked as a technical lead in his early career, leading a team of 30+ mananging 1.5Mn+ servers.
- Sandeep Mina, COO :
Sandeep has almost 20 years of experience working across monetisation, sales, product strategy roles at Swiggy, Hotstar (Core member), Star India. He is an IIT grad with an from IIM Ahemdabad.
→ Reasons to Invest
- Huge market : The market opportunity is huge, SMB’s account for about 30% of India’s GDP
- Technology : Dukaan is making heavy use of advanced technology such as AI/ML and developing no-code services to offer a one stop solution
- Experienced founding team : The founding team has had prior experience in providing services to companies for digital marketing, SEO and hence they have a great understanding of the space and the exact way how to solve the problem
→ Market Opportunity
- Market size
- Current TAM : ~$85bn
- Currently there are about ~63mn SMB’s in India
- SAM : ~$7.5 bn
- Growth rate : 18 per cent year-on-year.
- Market size in future : ~$185Bn [link]
- Pain point/value proposition
Merchants are easily able to list, sell, receive payments at one place without needing to learn technological tools/ method.
→ Competitive Landscape
Dukaan is operating in a highly competitive market, with many large companies already present and multiple startups which have been funded by investors including Sequoia, Google, YC.
- Direct competitors :
- Big players : Shopify, WooCommerce, Wix
- Startups : Bikayi, DotPe, MyStore, OkCredit
- Indirect competitors :
- Big players : Zomato, Swiggy, Flipkart
- Startups : Zepto, Meesho
Dukaan has been outperfoming it’s direct competitor startups.
Retention chart for various apps competiting with Dukaan
→ Operational Plans
- Use of fund
- Build the payments vertical to facilitate the merchants better
- Expand the product suite offerings to offer an end-to-end service to the SME’s
- Hire talent and leaders across engineering, product & business
- Revenue streams
- Subcription based :
- Dukaan Premium : Priced at INR 6,999 (2,500 customers alraedy onboarded in a quater)
- Dukaan Lite : Priced at INR 1,999
- Dukaan Enterprise : offers the same service for big businesses.
- Commission based :
- Dukaan Pay : 1.5-3% on each transaction
- Dukaan Delivery : provides an automated shipping solution and takes a % on each delivery
- Consultation/ Service Based :
- Dukaan Infinity : consultation on marketing, design and other business decisions for brands
→ Risks
- Usage : It is difficult to convience the merchant who has been selling offline for many years to transition to an online model. The CAC is also high.
- Crowded market : With multiple direct & indirect competitors, there is a risk that the merchants might not end up joining the platform
- Privacy : Lack of privacy protocols in application for montiroing and regulating items posted by the merchants/ users
