Going green has been a buzzword from quite some time across the world including India for protecting our very own Mother Earth. But there has been a huge challenge of availability of eco friendly and organic products.
To solve the major issue of unavailability of eco-friendly and organic stuff, MyGREENkart, a Delhi based startup has launched its online store. Founded in February 2012 by Chandni Trehan Sikand, who has experience of more than 10 years in the lighting/energy-efficiency industry, MyGREENnkart aims to create an online community where consumers get ideas, products and services which help to reduce carbon footprint.
Talking about thoughts behind launching an environment friendly etail store,Chandni said “We created this site in response to our own search for earth friendly products. We wanted to buy products that our better for our families and planet, however unavailability of such products made us to take the plunge . Also no other trade channel is focusing seriously on this category. We realised that a latent need exists in India for eco-friendly alternatives/energy efficient products”. Currently MyFREENkart offers organic food products such as grains, dry fruits, cereals, health foods ( organic amla, apricot,anjeer etc.), home and living ( toys, paper basket and fragrance), lighting and gadget (CFL lamps, powers stabilizer, water heater solar based lighting etc).
Although it is tough to estimate the current market size of green products in India, according to an industry estimate around 5% of the current urban market for food, health, beauty and other general use products like incense, household cleaners, bottles, cookware, clothes etc are looking to convert to healthier, safer, chemical free green products. However, MyGREENkart believes that the current figure of 5% is just the tip of the iceberg and as such products become widely available and come within the reach of people, the figure could very easily swell to 20% in the next 2 years.
“Since this is still a niche category in India E-Tailing is a very effective medium to reach the largest engaged audience in the most cost-efficient manner”, says Chandani. At present, MyGREENkart has 750 registered users with traffic of 10,000 visits per month and ships around 100 orders a month. So far, it has clocked a revenue of Rs 2.5 lakh in the last 3 months with Rs.700 of average ticket size of purchase. Food, health & beauty and Lighting (Gadgets) drive most of the MyGREENkart sales.
MyGREENkart leverages hybrid model of Internet and phone both and currently online channel constitutes 85% of total transactions and remaining 15% comes from call centers. Presently, MyGREENkart is running test marketing campaigns only in Delhi so its 70% orders come from Delhi (NCR).
To ensure authentication of products as green and eco-friendly MyGREENkart reviews under three main parameters: (1)Source of Material: Studies the base material of products to define whether it is eco-friendly, derived from Nature made substances or not, toxic content, recyclability etc (2) Manufacturing Process & Company: What is the impact on the environment while manufacturing this product and making it available to us? (3) Usage: How does the usage impact resource consumption?
MyGREENkart is currently 5 member team and is being bootstrapped by founder, however the company plans to raise fund early next year after completing six months of its operations.