Pratik Adani went to the University of Southern California for a Masters Degree in Computer Science and was working in a Digital Advertising company in US before he decided to leave the American dream and come back to Bharat. Based out of Mumbai, Pratik has launched PricePaaji to connect customers to stores- both local and online.
“When I came back from US, I was looking to buy a good Television and a music system for myself . During my research I surfed a lot of websites to get me details about product , prices and reviews. Not only this I went to 10 different local stores in my area, but was annoyed by the lack of price parity for the same product. This was indeed a painstaking process and I lost a good 3 weekends of my life,” shares Pratik and this is why he started up PricePaaji.The service aims to help the user in 5 ways: Product Discovery, Buying Tips, Price, Review and Compare.
Currently present in around 40 areas in Mumbai with 129 local stores, the intention is to go hyperlocal by incorporating local stores in a web platform. Along with these stores, PricePaaji also scans through 22 online stores to give the user the best price. “We’re also assisting the user with reviews, buying tips and comparison tools to help them make the best decision,” says Pratik. Considerable amount of effort is required to get the local stores onboard for which has dedicated a team of foot soldiers who go around.
Talking about revenues, Pratik informs, “Currently, our focus is to make PricePaaji a great product for shoppers. As of now, we have revenues from affiliate model, advertising and store tie-ups . We will be expanding into new revenue streams once we have established ourselves in the market.” There are a gazillion sites providing price comparison for online stores (are we looking for the cheapest option?) but PricePaaji has an interesting proposition with local stores. What might go against them is that if you’re looking at the price sensitive user, s/he’d be most likely to go for an online store as it’ll be the most competitive in terms of pricing and this makes the offline store listing redundant.
But yes, as a utility, I’d like to know if there’s a store near me who’s offering a competitive price where I can just walk in and quickly buy the product (and also, which offline store). Currently only in Mumbai, the challenge will lie in scaling up and making it available nationally with an equal degree of penetration. Detailing the road ahead, Pratik says, “We have 5 categories in electronics up and running . We are looking to expand to many more categories , but only if we have all the necessary information that the user is looking for. Depending on the user response and feedback, we’d expand into other cities.”