For long tail e-commerce companies, marketing their design products is a big challenge. What to gift is a huge problem and there is an unmet demand for a local online shopping network for recommendations, discovery and content.
Moreover, over the past few months we have seen debut of business models based on interest. In past we have profiled Zumbl and Scrapehere, which crawl data based on users’ interest (Zumbl enables users to chat anonymously with strangers, while Scrapehere discovers product as per one’s interest).
Latest to launch a personalised shopping magazine based on users’ interest, is Mumbai based Clipr. Clipr is a personalized social shopping magazine for non-commodity impulse buy products. Using Clipr, one can discover, collect (clip) and share interesting products based on your interests, and your friends – curated by the community.
Currently, users can add products from 20 online stores and clip (aggregate) them. Further, the clipped products can be seen by friends on Facebook. Clipr users can earn reward points on referrals, which can be redeemed via discount coupons.
“Since our launch in January 2013, we have products from 20 websites right now. We have MOUs or affiliate revenue from 5 of those e-commerce companies. For the past few days, our cumulative daily growth rate is 7%,” said Pratik Poddar, co-founder, Clipr. The average time spent by a customer on Clipr is close to 6 minutes and bounce rate is 2.1%.
In terms of revenue model, Clipr charges commission in range of 10-15% with every conversion. “We have the interest graph and product intent graph of the customer. That puts us in a unique position to have alternate source of revenue other than affiliate revenue model,” added Poddar.
Launched by IIT Powai alumni Pratik Poddar and Nikhil Vij, Clipr is trying to be Pinterest for online retail in India. In future, the startup aims to kick in reverse Groupon Model once it reaches reasonable userbase where users can initiate possible group discounts for companies rather than companies initiating a group discount scheme.
As of now, Clipr is being bootstrapped by founders, however the company is talking to angel investors to raise funds for product development.