Products & Services
With over 365 million people, India has the largest youth population (15 – 24) in the world leaving behind the likes of China and USA by huge margins. As per the current stats, there are approx. 140 Million active online users just in India alone – A pretty large sized target market (Almost 1/3rd the size of the US population, 4 times the size of the overall Canadian population). The unique aspect of this target market is that unlike the previous generations, neither do we need to go to marketplaces nor do we like doing that. Due to the widespread use of internet and the advancement of technology in our era, any information we require is on our fingertips. 76% of our generation owns a smartphon and we have a spending power of $10.5 billion which is rising at the rate of 12% per annum. We also account for the consumption of 32% of everyday consumer products. We as a target market are significant as we are huge in number, we have and will possess a lot of money, we influence the decision making of our family and friends, we set trends and are exposed to a number of media.
This led us to start Cyankart as we realized that there were multiple online sites that could service our needs for trendy products, but none were created purely for us. To understand the latest trends and buy those products was often a cumbersome exercise. Our Vision was to have this one site that could merge the concept of providing information on the latest product trends for the youth with a marketplace that would provide the product instantly to the end consumer.
Cynkart then started selling goods which people of our generation could relate to and lacked sellers online. To ensure good product quality we even opened up our own manufacturing unit. This apart from adding to our profit margins also allowed for speedy product delivery to our target clients. From starting to print our own t-shirt designs to phone covers, to accessories, we try to add more and more products every week. With plans to manufacture over 50 products within the next one year, we aim at satisfying greater demands. The idea is to bring in products and designs which the youth can relate to. Our tests turned out to be positive with a large number of people shopping on our site pan India. The response so far has been more than what we have expected at each step.
|Nature of Business||Manufacturer|
|Company CEO||Abhay Bajaj|
|Total Number of Employees||11 to 25 People|
|Year of Establishment||2013|
|Legal Status of Firm||Partnership Firm|
|Annual Turnover||Rs. 5 - 10 Crore|