E – Commerce is an integral part of India’s growth story and what we have presumably achieved so far is just a tip of the ice berg, considering its potential as well as market value driven by new age demands. Sophistication in terms of technology applications, design thinking and innovative customer outreach strategies have been playing catalysts in the growth and sustenance of e – commerce, which is now an industry in itself. But, it is no longer a niche that differentiates itself on technology sophistication as the growing demands and conceptions suggest something more challenging. Introducing products and services that are of personal value with an extended scope for clustered positioning and promoting is the new game changing scenario which is also fast emerging. CheerKart rightly identifies the business proposition in the context of such a changing scenario and maturing trends in fashion and lifestyle market segments. In doing so, there is still scope for innovation by carving out new targeted niches. This is also a pertinent reason behind the business model of CheerKart with a strategic approach of introducing unique brands of Handicraft products and solutions.
Priority segments and value proposition – Global scenario and Indian Handicrafts
A quick overview of the e – commerce industry across the globe would suggest an emerging and clearly classified business segment of ‘Online Shopping’. This also virtually differentiates commercial categories of business services with online portals dedicated for shopping. This impression provides a different overview about the market orientation and potential exclusively in terms of online shopping. Given this scenario, it must suggest great deal of value and potential with Indian Handicrafts Industry’s value being recognized to be about 6% of online shopping value across the world. This value proposition is nothing but the validation of this industry which is at about 100 Billion USD. In imperial terms, Indian Handicrafts Industry is valued at 45,000 Crore INR and it still disproportionately classified under fragmented and unorganized industry.
CheerKart’s focus to carve out a new business proposition with Indian Handicrafts products and solutions by integrating on e – commerce platforms is not only justified but also foresees immense potential which is untapped and not so rightly estimated for years. This can also indicate that the future of these products promoted online could be at par with electronic gadgets and apparels that virtually led the e – commerce revolution in India. Considering various pros and cons of clustered product positioning and marketing, CheerKart makes the right move of introducing product basket with variation, uniqueness and exclusivity. Posed to become one of the prominent e – tailers based in India, CheerKart has impressive brand differentiation with categories including Artificial Jewelry, Apparels and Indian Traditional Wear and Organic Personal Care Products. CheerKart’s Gift Cards and Vouchers will further expand the scope of promoting business as well as the product reach through popular platforms.
CheerKart – Classified Categories
Apparels and Indian Traditional Wear – With the business potential clearly intact, it is more about participating and identifying with the culture and synergy of Indian traditions. Traditional wear and apparel have the kind of appeal and acceptance which is distinctively different from other popular products promoted online. With India textile industry to witness growth to an extent of reaching 141 Billion USD by 2021, there is a very evident scope for Indian traditional wear products. In line with the business potential, CheerKart aims to enter this market with in-house designer clothes in Crochet and introducing traditional Sarees and Salwar Kameezes in partnership with renowned fashion designers.
Organic Personal Care Products – In popular sections of Indian society, there has been a paradigm shift in the thought process and connect with organic products. Proven by research and key scientific parameters, there are superior health benefits of using organic and natural products for personal grooming, hygiene and wellbeing. The upward trends in this segment are rightly supported by the global demand, which is likely reach at 13.2 Billion USD by 2018. CheerKart has its special focus to introduce authentic products of organic value in India.
Artificial Jewelry – With the swiftly evolving and maturing fashion trends, the emphasis is more on scope of design and exclusivity than on the material choice itself. This provides a huge advantage for the Imitation Jewelry products to thrive in emerging markets. Statistics speak for themselves with the present costume jewelry’s market size of 8000 Crore INR in India. Interestingly, online businesses contribute for around 180 Crore INR of the total value. CheerKart proposes to bring in exclusive variety of products in this segment to expand avenues for a sizeable market share.
Handmade Canvas Paintings and Handicraft – Indian Handicraft products are the cynosure at every global expo and rightly so this market is consistently growing at 15%. It takes no exaggeration in forecasting its growth at over 40% with the e – commerce push on the backdrop of a special social media appeal. CheerKart knows how ambitious it would be to participate in a 400 Billion USD global market by promoting authentic Handmade and Handicraft products that are truly Indian with traditional flavor of a multicultural society.
Accessories – Accessories category at CheerKart simply ensures a complete sense of shopping experience. One would find these products with an off-beat connect, to pick up something new every time. It’s a package of random surprises with products ranging across bags, footwear, hair accessories and kids exclusive.
Business Model and Modus Operandi at CheerKart
Being a promising e-tailer with clear prospects for growth and profitability, CheerKart has a proactive and comprehensive marketing strategy. With adequate emphasis given to Digital Marketing and Online Promotions, there would also be considerable focus on Offline and Multimedia Promotions.
Conceptualized and founded by Madhumita Arolker, CheerKart has its Vision and Goals set to create an exceptionally innovative global brand of traditional handicraft products by redefining fashion and lifestyle. Madhumita plans to transform Cheerkart from a vendor sourced model to a standalone brand with inhouse artisans. Backed by over ten years of rich experience as quality expert, Madhumita envisions creating a one million customer base by 2017. CheerKart aims to become an ambassador for true Indian art and the face of millions of traditional artisans in India.
With the best-in-class e-commerce solutions enabled by latest technology applications, CheerKart has an apparent advantage of unique products promoted through well thought of marketing strategy. It definitely represents the new era of fashion and lifestyle revolution with an extended outlook of traditional appeal.