The boom in the online segment has been tremendous over the past couple of years. India is at the brink of witnessing the fastest growing eCommerce market. As per Forrester report, with a compound annual growth rate expected to be at 57 per cent between 2012 and 2016, the coupon sector is set to exhibit maximum growth. According to business insider.in, the coupon business is 13.5 per cent of the total e-commerce audience in India and is growing at the rate of 62.9 per cent with a growth of 7.6 million unique users per month.
What is HappyCheckout?
The large numbers of online stores with varied offers have led to a growing number of coupon websites which trick consumers by showing up in Google and leaving them disappointed during checkout. In order to address such resentful shoppers that are “we”, HappyCheckout was created, “By the Shoppers, For the Shoppers”.
How are they different?
What sets HappyCheckout apart from the rest of the crowd is their generosity. Every business wants profit, well, that’s a known fact, but they aim at consumer satisfaction above all. This is proved with a simple fact, that they do not run any kind of advertisements on their website, which is a lucrative way of making quick bucks. They do not want visitors bugged, as consumer satisfaction is their prime aim. HappyCheckout has an exclusive tie-up with various online merchants who give exclusive coupons, which can be used only by their visitors. Along with coupons HappyCheckout also offers the shoppers a collection of exclusive deals and rewards to the shoppers.
With a small team of shopping lovers, HappyCheckout started in 2015, Hyderabad by Uday Nandan, CEO & Co- founder. Financial hiccups, people, space, competitors, business model, long term plans everything had been part of their hurdle. Initial funding was raised from like-minded people from their circle in USA. They made minimum viable product ready, started initial tie ups and expanded gradually. The funding was raised to the next level from the same pool of people and reached to $100K which helped in setting up a team and plan more tie ups.
HaapyCheckout has received a recent funding of $300K which is now being used for business strategies and global expansion plans. The target audience for HappyCheckout is pan India online shoppers. Online shoppers have already been able to save a whopping amount of 35.5 crore via coupons provided by them. Other than that 25,67,328 coupons have been redeemed so far. More than 2 million online shoppers joined them and have enjoyed their services, since their inception.
HappyCheckout has extended their services via mobile app, recently. Their mobile app is available for IOS, Window,Apple and Android platform.
Their website has probably the easiest navigational style and caters to online shoppers exclusively, to save money by offering best deals and validating promotional codes.
The portal is dedicated to making online shopping a better experience for online shoppers. HappyCheckout’s tie-ups include brands like Ola , KFC, Paytm, Flipkart, ebay, Amazon, Uber, Foodpanda & many more.
Market Size, Challenges and Competition
According to Statista in 2014, 16 billion digital coupons were redeemed. This figure is projected to grow to 31 billion online coupons in 2019. Therefore, it is evident that there is a lot of opportunity in this market.
Customers are always hesitant when it comes to online activity. The large numbers of online stores thrive to make loyal customers on one side and on the other side, different kinds of coupon offers pop up every day with some new name on search engines. This doesn’t just make the shopper unhappy, but also spoils the business between a genuine coupon aggregator and the online store. HappyCheckout wishes to standardize this issue.
HappyCheckout aims to make every online shopper happy across the globe and are marching towards it. Currently focusing on capturing Indian market, they will soon expand to more locations and carry forward their vision. Expansion plan includes reaching out to USA, UK, Australia and more potential areas to start with.