During the pandemic, the lockdown forced many of us to stay in the house. The online retail shop seems like a demanding job. Shifting all the attention to online purchases had affected a range of businesses across the globe. All the consumers could buy products from the comfort of their house.
It was the distributor bearing all the troubles. Addressing these facts of offline retailers had a major limitation on the business. This pandemic had pushed some individuals to think out of the box. This may include online learning platforms, online purchases. Even online doctors interaction but the star of today’s topic is ‘Store on Wheels’. While a majority of the population went digital for running the business. KS Bhatia carted a new idea to bring their retail stores on the road. This strategy to bring the shop on wheels was adaptable and consumer electronic spaces by his venture Figgital.
Figgital a story on the wheels is not a new concept in the society but surely one of the first to multiply its electronic spaces in such a short time.
KS Bhatia, initiating a creative method for sales:-
Figgital was found on December 20 20, In Mohali Punjab, growing to be a chain of modern retail consumer electronics stores across India. This franchise started by K S Bhatia to take the retail experience to the next level bringing stores right outside the consumer those especially in Tier lll, l\/ and rural areas where various multiple consumer electronics stores like Reliance Digital are still absent while online purchase almost takes a week to deliver.
KS Bhatia opened 40 stores within a short span of eight months. His stores are all the way from Punjab to Karnataka including Behar West Bengal Maharashtra Karnataka and Uttar Pradesh.
How did Figgital become a consumer electronic store?
Figgital began from company Pumpkart a B2B b2c offline and online company for water pumps in agriculture machinery. This firm launched in 2014 and expanded its retailing range for durable consumer products. Although the segment step name Pumpkart has a direct relation with Figgital hence Bhatia could not monetize consumer electronics under a similar name.
However, Pumpkart online channel was split in 2020 initially segment in the sales of electronics and other products had this split and created the existing Figgital (physical+digital).
Last year in September 2020 Pumpkart and Figgital granted 1.5 million from the government for the first store in Karnataka under the Samruddhi scheme to open over 100 retail stores across Karnataka. The initial store opened in Karnataka in December 2020 that led to the popular ‘store on wheels’ in Bihar by June 2021.
Figgital acquires a collection of 2004 products from electronic brands and has warehouses in all operational States.
This is a story about adapting to the scenario and grabbing the opportunity at the right. A story about a creative startup, an idea that existed in the market but was never fully demonstrated. KS Bhatia’s initiative has changed the shape of consumer electronic stores. Before consumer electronics stores were highly monopolistic in India such as Reliance digital and other brands conquering the market. This initiative for bringing the stores on wheels has pushed the limits of creativity and monopolists market to generate sales within the toughest time.
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