With abundance of fashion services offered today both online and offline, staying in vogue is a no sweat. Although today there are innumerable outlets, streets and online websites that provide fresh fashion accessories and ideas, there are very few portals or outlets that offer tailor-made clothing or chic accessories under one roof. Also, looking for the perfect clothing fit or quirky fashion accessories is a cumbersome task.
Driving away the woes of avid shoppers, Hoppingo has paved its way into the fashion world. Turning her craze for shopping into reality, Swati Gauba and Mayur Sethi founded Delhi-based Hoppingo in 2014. Today, Hoppingo showcases more than 10,000 products from 800+ popular websites and digital stores.
A Look Into The Closet
The concept of Hoppingo was initiated owing to the presence of innumerable startups that expose both the seller and the buyer to an array of services and merchandises. The team at Hoppingo has been studying about the customer’s varied choices closely, and has appointed apt experts to work on it. This feature of choosing only the best and appealing products is the main USP of Hoppingo, differentiating itself from its competitors like Roposo in terms of its manifestations.
‘ The important thing is to be able to solve the user problem in the simplest manner. We therefore do not add to the chaos but distinguish ourselves from our competitors, hence the layout of the website is similar to that of Pinterest’, says Swati.
The website offers a wide variety of products ranging from clothing to unique gadgets, home furnishing, accessories amongst others.. It dominantly focuses on fashion and acts as a personal shopper for an end-user. Hoppingo provides the user with vast shopping wisdom, wherein consumers can write to them with their requirements and suitable experts will be assigned to them. The products at Hoppingo are featured based on various themes (based on festivities, etc.).
Hoppingo also has a page that provides the website user with an array of articles related to shopping. These articles vary from shopping tips and ideas to the latest fashion trends, beauty tips, entertainment news and anything that can grab a user’s attention.
The Monetization Part
Hoppingo claims to be curating more than 800 e-stores across nearly 20 categories, including accessories, apparel and home décor and charges INR 200-250 on every transaction done on its platform. The firm earns its revenues through: regular advertisements, promoted content where brands pay to highlight certain products which lead to conversion sales. Hoppings is gunning for 10,000 conversions in a month by Oct’16.
The firm is also operating on affiliate marketing where e-stores pay for any active sales leads received from their website. The company is more focused on content marketing in a big way as they’re not only curating products but are being choosy about it. Hoppingo aims to bring identity to face less digital stores, serving as a marketing platform for online stores, charging marketing fee in return.
Traction so Far
On a monthly basis, Hoppingo gets 100,000 active users with a retention rate of 44%. On an average, a user spends around nine minutes on the platform browsing products with the most time spent on women apparels. The firm also claims to have a conversion ranging from 2-4% in terms of sales. The founders claim a 500% growth from March this year when the average traffic was seen ranging between 400 and 600 active users daily. According to them, traction came from only organic marketing, shares on social media groups as well as incorporating Facebook paid push advertisements.
The company has raised $890K, from Gurgaon-based vCommission, a subsidiary of Adways VC India. vCommission’s founder Tarang Bhargava will also chair the firm’s advisory board.
The team currently comprises of 8 employees which Swati surely wishes to expand in the near future. The startup’s long term vision is building a digital mall and use digital media as a means of expansion.
The founders are in the process of developing an affiliate programme where users can create their own store of styles and get paid certain commission if their styles lead to sale.
Hoppingo will launch its mobile application by the end of this month and take active user count to 1 Mn. They hope to take their registered users count from 30,000 to 1,00,000 users in the coming months and capture the market size of 60 Mn online shoppers by 2020.
An influencer programme is also in planning phase where industry stalwarts will contribute articles and share views. The startup also plans to expand into Singapore and other South Asian markets.
Needless to say, as more and more people come online for following fashion trends and seeking fashion recommendations, fashion social networks will amplify, gaining more traction and larger number of ecommerce clients who would want to leverage their networks for boosting sales. Thus the bigger the network, the better its chances of being at the top of the list of preferred visual discovery platforms by ecommerce companies. In that sense, Hoppingo’s ever expanding community of fashion lovers bides well for it.