Photo - GIFTO
23509

GIFTO

India, Karnataka
Market: Internet and IT, Artificial Intelligence, Mobile applications
Stage of the project: Prototype or product is ready

Date of last change: 11/15/2017
Min investment
$  150.000
0
Total required
$ 3.000.000
Rating
equalizer 265 из 1000
help
Calculated and estimated occupancy of the project (more about ratings)
My rating
1
2
3
4
5
6
7
8
9
10
Average rating:

Idea

Introducing a brand new way of Commerce, the Camera Commerce or camCommerce™!
We take pictures of anything and everything we like and we share them with friends and family all the time – Instagram!
How cool it will be for anyone to be able to buy or gift a product whose picture was just taken! – Transact in Impulse!
camCommerce™ : Click – Buy or Gift, is the new genre of commerce!
Gifto – the only Cognitive platform that uses camCommerce™ and bridges in-store Product Discovery experience & ease of online purchase using the phone camera.

Current Status

First Merchant (Smoor Chocolates and Cakes) onboarded on July 1, 2017
Conducted a Pilot in July – August 2017

Market

Total Retail e-Commerce Market size in India is $16Bn in 2016
Expected to grow to 64Bn by 2021 at the rate of 32% CAGR
Estimated online Gifting market is ~400Mn out of a whopping $30Bn total Gifting in India- 2016
AI/ML will be game-changers in online retail: Sauvik Banerjjee, CTO TataCLIQ
Young demographic profile with increasing internet penetration
Significant rise in Middle class, growing affluence and higher disposable Income
Increases push of Mobile penetration across most states in India Infrastructure.
Significant Discounts being offered by Retail Merchants

Problem or Opportunity

In an era where instant gratification is a norm, consider a walk down a street and seeing a product in a shop window or in hands of a stranger that invokes an instant interest in you to either buy for yourself or gift to someone dear. Normal instinct is to click a picture for future reference. Imagine a handy tool that enabled you to transact at that very instant!

Solution (product or service)

We would like to introduce a new genre of commerce – CamCom. The World’s only Camera Commerce platform that bridges in-store Product Discovery experience & ease of Online Purchase using the phone camera.

Gifto uses Computer Vision and other Cognitive algorithms to help identify a merchandisable product whose picture was just taken, provide an unparalleled product discovery experience on your mobile phone and enables instantaneous transaction.

Competitors

At this time there is no other platform which uses Camera Commerce hence there is no Direct competition
All Online Retailers are potential competitors and also fulfilment partners at the same time
The app can be integrated with all Online Merchants’ Order Management, hence providing additional traffic to the merchant site
Co-optition (Collaborate and Compete) is the ideal mantra to succeed
All Gifting apps, including the Gift Voucher distribution and redemption apps are a competition, playing in the same market place

Advantages or differentiators

Online world doesn’t provide touch and feel, doesn’t cater to the spontaneity or impulse buying!
Unmatched experience of Product Discovery (features, price, promos, alternative products) using your phone camera!
Built-in m-PoS for convenient payment options
Multiple options of Redemption
Receiver choses the mode of delivery at a place and time of his/her choice!
Caters to a variety of consumers, from Students to Professionals, from middle-class to HNIs.

Business model

Business Model
Order Management by Gifto, fulfillment by Merchants including Online stores!
Average 12% commission per transaction from the Merchant, Consumer pays nothing!
Adoption Strategy and Go To Market – India
Revenue target of USD 100Mn (topline) a year run rate by 2022
Metrics
# of Pictures Taken
Conversion Rate - # Transactions per 100 Pictures taken
# of actively engaged Users
# of Offline Merchants on-boarded and engaged
Multi-channel promotion strategy to onboard end-consumers
Leveraging the habit of taking pictures to culminate in commerce!

Money will be spent on

Product and Delivery Infrastructure 40%
User Acquisition 30%
Company Operations 25%
Legal and Patents 5%

Offer for investor

20%

Risks

Increasing global competition
Multiple agencies deal with Policy issues – like trade, ICT, finance, consumer protection, etc.
High cost of Customer acquisition
Extraordinarily high number of promos offered by eCommerce sites have created a consumer behavior detrimental to bottom-line growth

Incubation/Acceleration programs accomplishment

IAMAI Mobile 10 Incubation, Bangalore
Selected for Elevate 100
Selected for GITEX 2017

Won the competition and other awards

N/A

Invention/Patent

Filed for a Patent in India
Comments:

You need to login

5,00
1
2
3
4
5
1 voice
Log In/register
arrow_back
EN
more_horiz
close
visibility396
star0
Add to favorites
Delete from favorites
share
close
thumb_up0
Like
Unlike
Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Product Video