Journey of Pickaboo as an E-Commerce Platform in Bangladesh
Pickaboo is a renowned e-commerce platform in Bangladesh that started its journey on 15th May 2016. Starting the venture with the slogan ‘Delivering Happiness’, Pickaboo succeeded to earn their customers’ satisfaction within a very short period. But over time, this leading e-commerce platform of Bangladesh faced some ups and downs which ultimately led them to think about shutting down the project. Luckily, they were able to get into the business with more innovation and enthusiasm over time.
Early Stage of Pickaboo
Pickaboo started its journey to sell high-quality electronic products, especially mobile phones. Their goal was to provide the best electronic devices to their customers at an equal rate of the local market or less than that, if possible. They tried to seek customers’ attention with a hassle-free delivery system and they were successful to fulfill their goal.
At the beginning of Pickaboo, they had only 65 people working in different sectors. Most of them were fresher with no work experience. On the other hand, Pickaboo started its journey as an online business platform in mid-2016, they were already behind the competition as many other platforms like Ajkerdeal, Daraz was already there as the competitors. So to survive the battle, for the first 6 months Pickaboo followed some efficient business strategy, held campaigns, created awareness among mass people of the country about their services, and so on. In a word, Pickaboo tried to create a difference in their business to sustain itself in the marketplace.
Pickaboo’s Business Strategy
With time, Pickaboo took upon some long-term business strategy that helped them to get recognition as a popular brand in the market. Let’s have a look at them.
It’s important to have an innovative business plan to succeed in your venture. Innovation doesn’t always mean to have a brand new idea, you can also add value to an existing business idea to make it innovative. That’s what Pickaboo did. They made online shopping way more attractive and efficient that it helped them to get permanent and loyal customers.
Developing a Creative Marketing Team
Pickaboo developed a creative marketing team to collect customers’ data who tended to buy the same product or a different product and kept a track of that. From the database, they got the idea of whether they should launch new products or restock the old ones as per customers’ demand. They also offered membership facilities to their customers like special discounts, free delivery, early access to different programs, and so on.
Pickaboo tried to engage their customers at a very different level. Instead of bothering people with unnecessary ads, they tried to show some relevant ads about products that their customers are searching for on the website. Whenever a customer adds a product to their cart, they show some discount or free-delivery of those products which helps the customers to make a quick decision. After making a purchase of a product from Pickaboo, they showed ads on accessories related to those products as logically those are the things the customers might need next.
Interacting with Stakeholders
With the continuous fame and growth of Pickaboo, many stakeholders showed their interest to work with Pickaboo. Pickaboo took the opportunity and interacted with those investors intending to expand their business more with better service.
Adding More Categories
With the process of getting more recognition throughout the country, Pickaboo started to add more categories in their business to expand their target market. Besides selling electronic gadgets, they started to sell home and kitchen appliances, lifestyle products, and so on as per their customers’ needs.
Inducing Delivery Process
Pickaboo introduced the ‘Fast pick’ service in their delivery process. They observed the fact that customers always want to get their products instant by staying at home. So they grabbed the opportunity and offered their customers fast service. Though the delivery charge was double than usual in ‘Fast pick’, the response from the customers was unbelievably high.
Creating a Customer Support Team
Among all the e-commerce platforms, Pickaboo is the first one to create a support team for their customers. The main goal of the customer support team is to provide instant solutions to their customers, take all complaints of the customers very seriously, and work accordingly; making sure not to commit the same mistake again. The customer service team also takes both positive and negative feedback from the customers through different social media and comes up with new ideas to be more convenient for them.
The success of Pickaboo
Following those business strategies ultimately made Pickaboo the 2nd biggest e-commerce platform in Bangladesh.
Pickaboo gradually started to work with original brands as they were leading to the path of success. And with the best response at the customer service, they had an existing customer returning rate of 26% which is huge for an e-commerce platform in Bangladesh. Pickaboo also started pre-booking options as per their customers’ demands.
With time, Pickaboo was able to double their manpower as the company was growing substantially and needed many people to provide the best service.
The most crucial factor in Pickaboo’s success is its strategy for customers’ satisfaction. They believe that communication is the key.
Pickaboo tried to serve their customers with utmost priority and delivered the products as soon as possible. People can get their product within 48 hours inside Dhaka and within 96 hours outside Dhaka. Cash on delivery and online payment both were available. You can receive the product at your home if you want home delivery or you can just visit the nearby Pickaboo outlet to receive your product without any delivery charge.
If there is any mistake or damage to the product, Pickaboo offered the return process with a full refund. These strategies helped Pickaboo to gain their customers’ trust within a very short range of time.
Reason for Falling
In early-2019, Pickaboo started to face its tough time as the CEO of the company left. This leads to overall mismanagement at different sectors of the product line. The customers started to face several issues after placing an order like product theft, no response from the CS team, late delivery, and so on.
In late 2019, the company was about to shut down as the management couldn’t continue the business without any profit or investment. They tried to connect with local investors but it was tough to find one as the reputation of the company was at stake.
Again Rise of Pickaboo
At the beginning of 2020, Pickboo again came back in the market with a new strategy to get its sustainability. This time, Pickaboo did a fusion of online and offline marketing as they observed opportunities in both fields. They think this would be a breakthrough in the market as there are not many established multi-brand retail channels available in the market.
Pickaboo also narrowed down its product line. As they are emerging in a new way, they think it’d be best for the company to focus on one field at a time. Now they are selling mobile phones of different brands and don’t have the plan to add any new category of product very soon.
Being an early bird of e-commerce platform in Bangladesh, Pickaboo showed an excellent performance with all the innovative business strategies. Unfortunately, the company couldn’t continue the business for a long time due to some management issues. Now that Pickaboo is again in business, their sustainability in the market depends on how they tackle all the upcoming obstacles. And if they can overcome these issues, Pickaboo will eventually be more successful than ever.
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