29 April 2020
Founder & CEO of B2B marketplaces Pumpkart.com & Figgital- K S Bhatia, who is a well known entrepreneur from Chandigarh region, has initiated a unique Hyper-Local E Commerce business model, which when implemented will be the first in the country. As the model is slated to resolve the economic slowdown being witnessed across the country due to the COVID 19 pandemic, it is quite well suited for different North Indian state governments and Chandigarh,UT.
It is noteworthy that Pumpkart has made a name for itself even globally when it attracted attention of Google CEO Sundar Pichai for selling water pumps online. Pichai had appreciated Pumpkart’s business model at his digital India speech in front of PM Modi in the US.
K S Bhatia said, “Pumpkart is a B2B E Commerce operator which since the last 5 years has been doing digital distribution of branded & non branded products to retailers. We have also unveiled figgital.com, which we have rolled out keeping in mind the lock-down period. Through the Hyper-Local E Commerce model we will serve retailers to sell to consumers online in the lock-down as opening retail outlets could create safety & health issues .The model will provide a dual benefit to retailers. On one hand we will deliver products they want to them through Pumpkart.com and on the other we will also sell products on their behalf on figgital.com, this will reduce logistics time substantially and the products will be supplied to consumers in just 2 hours. What’s more, the products will be insured under Ninja(NNJA) our after sale service arm. I want to request UT Chandigarh, Punjab, Haryana & other North Indian states to allow retailers to sell through our E Commerce platform.”
Bhatia who is also an Honorary Member of the E Commerce Council of India added, “My model is the best to kick start a moribund economy as apart from selling for shop owners it will also look after inventory needs of retailers by organising of their purchases from our existing Pumpkart.com platform. We already have 8000 retailers & wholesalers on board across Punjab & Chandigarh and approaching them is not a problem. So our platforms will not only cater to both retailers as well as consumers but also give a fillip to sales of wholesalers from whom products will be provided to retailers. The beneficiary will of course be the end user or consumer”
The model proposes that retailers without opening their shops can sell to consumers through figgital.com- a specially designed online platform. Initially in the first one month they may sell summer season products like fans, water pumps, coolers, ACs etc, as the demand for such products will go up. Gradually TVs , laptops, phones etc can be added . The model aims at obviating gatherings in the region which will not allow spreading of COVID 19.
Pumpkart also holds the distinction of being the first startup to represent India in United Nations. It’s founder Bhatia in his sum up said, “The lock-down has created a problem and brought the traditional economy to a standstill. This is the best way to kick start the economy in a limited way to start with. So the state governments in North India should allow homegrown E Commerce platforms like ours to supply products in a safe environment, at the doorstep of institutional as well as retail buyers.”
It is pertinent to state that Pumpkart has also signed Kapil Dev – the legendary cricketer as its brand Ambassador.