Discovery is a major part of shopping process irrespective of medium offline or online. In offline mode word of mouth phenomenon helps consumers’ to discover new and amazing products. In online space price discovery platforms such as Amazon’s Junglee and Shoppingwish equip shoppers to discover products.
To make the discovery process easier, New Delhi based Buyt has launched e-commerce meta-search and discovery engine where it aims to help shoppers’ find stuff online. The startup also offers aggregation and comparison for relevant categories.
How does it work?
Front end: Consumers simply type in the product that they are looking for in the search box. Get side-by-side comparison of the latest prices, shipping terms, and features from multiple e-commerce portals. Filter your results by manufacturer, prices, features and choose the best available deal and simply click on buy.
Back end: Buyt crawls and parses sites using a generic google-like crawler. Further, it categorizes products on each of the seller sites and merge them to a universal category-list that Buyt has developed. “The process of data collection is 95% automated, and adding a new site is limited only by the raw computing power of our servers – so a small site could be added to our repository in a matter of hours,” said Yogesh Tomar, co-founder Buyt.
Currently, the three week old startup offers more than 2,000 brands under its umbrella across 8 online stores. Since the startup has only 8 retailers on its website, the reach needs to be improved. “We have succeeded in doubling our daily traffic to 3000 unique visitors so far 15 days, using simple social network marketing. The effort on marketing so far has been very minimal and mostly to get feedback.,” added Tomar.
Launched by IIT almuni Yogesh Tomar, Biswanath Patel, Simran J singh and Sunil Jain – Buyt has been so far been self funded. However, the startup is talking to few Venture Capital firms to raise investment.
Buyt plans to extend the reach of the product in terms of number of sellers as well as platforms. “We are working on refining our search algorithms so that they get better and better at answering questions our users might come up with”, concluded Tomar.
While currently it might seem that the product discovery space is getting crowded, none of the players can actually claim to have solved the problem entirely in an efficient or scalable fashion.
The first entrant in this space, Junglee is probably the closest contender to being called a “product discovery engine” with the widest range of products and categories. The price comparison space is a bit crowded with with dozens of players including Compareraja, MySmartPrice, FindYogi, Shopping Wish and many others.