My Laptop broke, one fine day! I needed to buy a PC urgently, I went to 3 stores in my area immediately. I went to Ezone, I went to a store in galleria and I went to Chroma at Rcity. I saw that the same model Lenovo PC, the difference in price in Ezone, galleria store and chroma was about Rs 5000/- Rs. I bought the one at chroma for Rs 31999/-. I saved Rs 5000, just because I bothered to check out 3 stores.
What if Chroma had informed about this deal through a hyperlocal media site. Two things would have happened.
1) The other stores would have reduced the price to match chroma’s price (which nobody will know of, Since only chroma has advertised about it.)
2) The other stores would ignore, (as all decision are taken centrally in big stores). And Chroma would have sold more lenovo desktops!
Sabjiwaala.com is a online portal by 2 IIT ians, they advertise daily deals with us. They manage to sell at a price which is 25% to 50% less than the local sabjiwaala or supermarkets like DMART and Haiko. Sabjiwaala.com is now scaling up to handle the increase in demand. It has encouraged customers to change their habit of “vegetables and fruits shopping” by offering them daily deals.
Why Think Hyperlocal?
I talk to lot of people in my neighborhood, and majority of the purchase decisions are made locally, whether its buying vegetables, electronic items or visiting a Spa.
So how many know about deals/offers/events happening in your neighborhood and what is the source of your information.?