An aggregated Mall consisting of all the best and biggest online retailers, coupled with a Comparison shopping Engine and a Social E-Commerce Experience.
Our Value Proposition:
- guaranteed best price, even better than the source
- Fun, social experience that is currently absent in online shopping.
- Unique new features like buying a gift aggregately with friends for a mutual friend or relative.
- Peace of mind while your kids shop online with amounts that you specify.
In conclusion, we are addressing all the things that people (we surveyed) are not totally sold on, as far as online shopping goes. And we are improving on things they are satisfied with – like, more choice, convenience and better price.
Online Aggregated Mall - Re-defining the Shopping Experience
1. AGGRE-GET MALL
Identifying the Market Opportunity
And the Value Proposition
An aggregated Mall consisting of all the best and
biggest online retailers, coupled with a Comparison
shopping Engine and a Social E-Commerce
Experience
* Comparison Shopping * Aggregate Buying *
* Shop with Friends * Shared Wallets *
2. The Survey
• We took two different Surveys:
– Face to Face Survey of 18 People (12 F, 6 M)
– Online Survey of 48 People (Gender Undetermined)
• The Survey tried to find out:
– How many times the person shopped (alone and with
friends) for gifts
– What they thought about certain aspects of Online
Shopping
– Given certain new features (not currently
available), how willing they would be to use it and
how it would affect their shopping experience
3. Survey Results
• Though most men shopped relatively less (less
than 4 times a year) and were more likely to shop
alone (72%), we found that most Women
shopped more (More than 6 times a year) and
were more likely to shop with friends (78%)
• Over 65% of those polled said that they had
neutral or Negative feelings about having fun
with the online shopping Experience. Over half of
them also had neutral or negative feelings about
getting the best possible online price.
4. Survey Results
• Over 60% of women said that they would be very
likely to use audio, video or text chat while
shopping and discuss products, get their friends’
opinions, etc.
• While 80% of all polled said that they would be
very likely to shop if they had a comparison
shopping mechanism offered to them.
• Over 80% of those polled said that the new
features mentioned (best prices, interactive
chat, aggregate buying and shared wallets) would
make their shopping experience somewhat to
significantly better.
5. Survey Conclusion
• It was clear that people found the following
value propositions attractive:
– Better than the best price on the web (everyone)
– Fun, Interactive, social shopping experience
(women)
– Peace of Mind while allowing their tweener &
teen kids to shop online while controlling the
budget (parents)
– Pool resources as a group to buy a present (Event
driven buying segment for weddings, baby
showers, birthdays, bar mitzvah, etc.)
6. The Aggre-get Mall Idea
• The idea would be to enable users to shop for gifts
(with a comparison engine) at a store that would be
the aggregate of all the best and biggest stores online
(who we would have affiliate relationships with), so
that for any product, the shopper would be offered the
best available price.
• Not only that – we would take it a step further by
giving the shopper an additional 5 – 10% discount
(from our affiliate commission earnings), so that they
could get it cheaper than buying from the actual store
selling it. We would do this to get more traffic so that
we can grow an additional revenue stream out of
advertisement space on our site.
7. The Aggre-get Mall Idea
• Additionally, shoppers would be able to talk, chat and
look at products in the wish list together with friends
and make it a fun interactive experience.
• Additionally, they would invite friends to join so that
would automatically mean that the site visitors would
increase geometrically.
• A group of friends could pool resources and buy a gift
for a mutual friend – add a social experience like video
or audio chat along with a wish list slide show
• User could approve a certain amount so children can
shop within a given budget without having to use
credit cards and such.
8. The Value Proposition
• So all in all:
– guaranteed best price, even better than the
source
– Fun, social experience that is currently
absent in online shopping.
– Unique new features like buying a gift
aggregately with friends for a mutual friend
or relative.
– Peace of mind while your kids shop online
with amounts that you specify.
9. The Value Proposition
• In conclusion, we are addressing all
the things that people (we surveyed)
are not totally sold on, as far as
online shopping goes. And we are
improving on things they are
satisfied with – like, more
choice, convenience and better
price.