Pickaboo.com

Most trusted &largest Online shop for Electronics
Startup name
Pickaboo.com
Web address
Founding date
May 2016
Incorporation
Yes
Total team member
132
Startup stage
Paying users
Category
Consumer, Enterprise
Sector
E-commerce & online marketplaces
Product usage or interact
Desktop, Mobile/Tablet (Android)
City
Dhaka, Dhaka, Dhaka Division, BD

Elevator pitch

In 1 year Pickaboo has become the preferred online electronics shop in Bangladesh by introducing new products with unique level of service- EMI facilities, same day delivery, and loyalty program. Pickaboo solves the main problems for Bangladeshi consumers- traffic congestion, product quality, and lack of after sale service, so is set to capitalize on this emerging market of 69 mil Internet users

Team

Shahrear Sattar

I Graduated in Marketing, did Post-Grad from Australia. Looked after 3 portfolios of EDISON Group including one startup; for 4 years under the same investors. The VAS startup MoMagic had a 200% growth for 4 consecutive years. Also served 5 years in Telecom Industry & Direct Sales in Australia.

Business model

Target customer

6.9 million Bangladeshi Internet users + Brick & Mortar customers

Customer acquisition strategy

Facebook & context ads, referral bonuses, major brand affiliation

Revenue model

Being an online marketplace; our margin is based in between Manufacturer & End User price. That is currently 9% in average/month. We are already getting promoted on Brand pages like Hiawei,Xioami,Samsung,Symphony & etc.But it is only a matter of time when Launching will be sponsored by brands on Pickaboo. Value added Products are uniquely developed in Pickaboo which also has a potential revenue model for us as the unique services are coming exclusively with Pickaboo.

Market info

Market size

$ 100,000,000

Competitors

Competition

The main competition of Pickaboo is Daraz.com.bd a Rocket Internet venture selling all category, has built a customer base in last 3.5 years. Although Pickaboo is neck to neck in terms of revenue with in 1 year time. Though they deliver through out the country but customer satisfaction & Fulfillment are their main challenge. Kiksha & Ajker Deal both the companies are focused on mid & low end products also sell all categories, doing business for last 5 years but with no significant growth.

KPI's

  • 400,000 Want to reach avg total visitor/day by Dec 18
  • 100,000 Want to reach monthly Order number by Dec 18
  • 26,000,000 Want to achieve total revenue in 2018

Startup traction

Currently with only Electronics category Pickaboo attracts daily around 35000 visitors which ultimately converts $ 5,00,000 revenue monthly. Pickaboo plans to include Fashion & lifestyle products by end of 2017. Utilizing the existing base of customers by increasing their basket value with fashion & lifestyle products will increase the revenue by 20% straight from the beginning. Also Electronics items tend to have longer life-cycle so just after fashion & lifestyle order number will also increase by 40%. By end of Q1 2018 Pickaboo will have the strength of delivering 1000 orders per day which should be tripled by Dec 2018. The estimated E-commerce market size of Bangladesh in 2018 will be around $ 87 mil. Pickaboo targets to reach minimum 25% market share of the total. To achieve such targets the above quantitative KPI are set. But of course in parallel Pickaboo will continue to increase its Electronics market share also which is currently around 35% out of total Online sales.

Other information

* Pickaboo is the only company in Bangladesh on which Facebook published a success story on their Business page.
* Pickaboo is nominated by Bangladesh Brand forum as one of the best platform for making effective use of Digital Marketing being an Online Shop

Publication date: 08 October 2017