Co-Founder and Director of MySmartprice Sulakshan shares his views with technuter.com on online price comparison:
Mysmartprice was founded by Sulakshan Kumar and Sitakanta Ray, classmates in Engineering (NIT Rourkela 2002). Both Sulakshan and Sitakanta joined Oracle after graduation. Sulakshan continued with Oracle for 6 years and then moved to Infosys for another 2.5 years. Sitakanta worked with Oracle for 3 years. Post that he did his MBA from IIM Bangalore and then worked with ICICI bank in Mumbai for 3.5 years. Both of them quit their jobs in Oct 2010 and started working fulltime on a few ideas that they had. Finally one of the idea took shape as Mysmartprice in early 2011. Even though Sitakanta is a MBA , he is passionate about technology and he looks after technology and marketing in Mysmartprice. Sulakshan looks after Product Management and Business in Mysmartprice.
What are the biggest challenges you faced at the time of starting ‘MySmartPrice’?
We face a challenge in the listing of products since the price may fluctuate as high as 20 times a day for the popular products. There is also a difficult in getting recognised as an affiliate partner. We also find it challenging when it comes to hiring since this is a lesser known model.
What are latest industry trends in price comparison platform?
The industry is moving from being a vertical focus to a horizontal focus. This is to capture as much as the online buying market is concerned.
What is the USP of ‘MySmartPrice’ in contrast of other online price comparison provider in India?
a. Having listing from all the top ecommerce websites in India and across all the major categories.
b. Focusing not just on price comparison but also on what to buy by providing extensive information about the product and thereby helping the customer with the research
c. Showing the best offer available to the customers factoring in the coupons, cashback, COD and other offers applicable.
d. Show the latest pricing as accurate as possible
What is ‘MySmartPrice’ doing differently to increase its market share in India?
We are planning to cover almost every category that is sold online. Also with the market place coming into picture there is a greater demand of capturing the best price. So we are trying to build strong platforms which can handle the frequent price fluctuations and list the products accurately. We are also showing the best offers, coupons etc so that the customer gets the best value.
Would you please reflect upon your R&D work?
As said before, this is primarily focused on two important aspects being accurate and showing the best price. So the technology is primarily built to maintain this. With the entire ecommerce in India evolving into the marketplace model there is a huge challenge on how we can maintain those 2 aspects without affecting the user experience.
Do you plan any significant market expansion in near future?
No, we do not have any plans to venture out of Indian market
Your message to the IT and Tech community…
Have a strong belief in what you do. This is required to make products and platforms which makes a difference.