Jazzmyride was founded in 2011 by Sunil Dhingra and Mukesh Dhingra with aim to solve the problem of end users to discover and experience quality auto-aftermarket products and services.
The company started selling basic car accessories online and has now evolved to sell more than 1 lac products of car & bike accessories and spare parts spanning across more than 150 categories and 52 brands.
Recently, the firm has also opened first O2O commerce oriented offline store in Karol Bagh, Delhi exclusively for quality bike accessories.
The company aims to create India’s largest auto-aftermarket destination
Sujata Sangwan Interacts With Sunil Dhingra, Co Founder, Jazzmyride And Spoke To Him
How did the idea came to start Jazzmyride? The seeds of entrepreneurship were sown 16 years back during my schooldays when I sold an item on Bazee.com (acquired by ebay later). The transaction happened very fast and I realized the power of e-commerce in quite early stages of my life.
After completing Masters from Symbiosis, Pune, in 2006, I worked with Tata Communications, Infosys and Mahindra Comviva for 6 years. Being in a promising career was quite tough yet the rightmost decision that helped me to create Jazzmyride.
Jeff Bezos tale of creating the giant Amazon from a very humble start has really inspired me to take the leap of faith on my dreams coupled with perseverance and hard-work.
What are the unique key features or services offered by Jazzmyride to its customers? Jazzmyride offers a vast range of products ranging from car and bike accessories to automotive fashion, creating India’s largest O2O (Online-to-Offline) one-stop destination for all auto needs.
The company has its own range of private labels such as Speedwav, Accedre, Jazzmyride (for automotive fashion), Autosun etc. and is a strategic e-commerce partner for many national and International brands including Steelbird Helmets, Waxpol, ABRO, Galio and more.
Today, it has a profound list of over one-lakh products with 50+ brands and a prodigious list of three-lakh happy and satisfied customers.
How Jazzmyride stands out from its competitors in the market? To thrive successfully in a highly competitive environment filled with uncertainties and dynamisms, we efficiently craft products and services to best meet the evolving desires, demands and expectations of a modern- age buyer. Such customer- centric approach clubbed with strategic techniques and breakthrough ideas empower us to overcome odds in trade, positioning us ahead of market competition.
The product category that we are engaged with has been actively traded in India since long. Today, we largely intend to do things differently with a positive approach to provide best-in-class results in the most unique manner. For example using our offline stores we will create a desired touch and feel experience, solve fitment problem, maintain efficient common inventory and enable seamless hyperlocal delivery.
What is the funding status of Jazzmyride? The company was initially bootstrapped. We invested a small amount of currency to create the portal, register the name and to stock just a handful of products.
Recently, we did a strategic infusion from TVS ASL, seeking a prolific platform to achieve targeted goals in a speedy fashion. We see tremendous synergy with TVS ASL through online-to-offline retailing approach, bringing the best of both worlds to the benefits of all stakeholders in the value chain.
Collectively, TVS has invested Rs 75 crore in 3 new- age complementary startups, including Jazzmyride.
Traction Details and Future Plans We are progressively moving closer to our O2O commerce vision by venturing into offline stores, beginning with Delhi and Chennai and followed by other major cities and towns, in the next phase.
Further, we plan to bring more best of the breed national and international products and brands near to the consumers combined with our services.
Marketing Plans We will continue to invest in RoI driven digital marketing to reach out to our target audience. We believe more than marketing, the offline stores shall help in bridging the gap we currently have with a huge amount of consumer base that would want to buy our products but may be today left out due to one of the challenges of touch and feel, brand trust or fitment challenge that stores should solve. We care more about creating the right customer experience, the marketing shall automatically follow.
Challenges Faced & Solutions One of the biggest challenges in trade has been to manage the unorganized supply chain and to effectively solve problems related to product discovery for end customers.
E-commerce coupled with strong in-house built analytics and technical systems aided us to diligently create an intelligent and efficient stocking model. It also allowed us to make future predictions on what to stock and what to procure on just-in-time basis to serve the needs of the end-customers.
We continuously focused on getting the right quality at the optimum price for Indian consumers. We re-ploughed our profits into creating an ecosystem of user friendly digital catalogues, product videos and user interface to bridge the gap of product discovery for the customers.
Market Size & Opportunity As per ACMA, India’s auto-aftermarket is pegged at $9 billion opportunity today slated to scale to $13 billion by 2020. We aim to create a unique value proposition for all stakeholders to ensure we capture a majority of this market size.
