[Tech50] This startup aims to meet the lifestyle needs of working professionals on a single platform
For a long period, ‘subscription‘as a concept has remained associated with newspapers, magazines and the daily needs of dairy products. However, today’s businesses go to great lengths to build customer loyalty, build brand loyalty, and generate long-term revenue. Whether it’s Netflix, Spotify or Amazon, the subscription business model has become the norm.
Building on this growing concept in India, the Mumbai-based platform Bling, which is part of YourStory’s 2021 Tech50 list of the most promising startups, has launched a subscription privileges and commerce platform exclusively for professionals working in India. Founded by seasoned entrepreneur Sanil Jain, Blingg caters to a niche market and offers selected products with an element of surprise.
Over the past six months, the startup has organized more than 60 D2C or direct selling brands such as Dunzo, Faasos, Lenskart, Ixigo, Box8, Pharmeasy, Tata 1mg, Cult.Fit and managed to acquire 10,000 odd users. He added subscribers from companies such as Accenture, Wipro, Infosys, Deloitte and Amazon.
Blingg’s seeds were planted in Sanil’s head in 2019, as its first startup took off CupShup. The seven-year-old startup operates in the offline advertising space and helps brands reach audiences by advertising on paper cups in addition to offering corporate branding, creative services and services. digital marketing.
After running campaigns for over 150 brands including Upgrad, Dunzo, Wrogn, Grofers, Swiggy, Ola, OYO Rooms, Unilever, Amazon, Coke, Hotstar and ZEE, Sanil decided it was time to start another business. with Blingg.
“As CupShup grew into a popular offline activation company, I got the idea for my next business. We wanted to create a digital community of working professionals and offer them exciting rewards, offers, vouchers and gifts through D2C partner brands, ”says Sanil.
The idea is “win-win” for both parties, he adds. While brands can acquire a high-quality user base through trials and offers, users gain access to exciting new lifestyle products, explains Sanil.
After a beta in 2020, the startup officially launched Blingg as a subscription app in April 2021.
Snapshots of application pages
Unlock the “Blingg Box”
The app works on a freemium and premium model, where it offers a ‘Jewelry box‘or a gift box with a monthly subscription of Rs 99.
Users can create their own gift box by selecting up to five products worth Rs 300-450 (at no additional cost), delivered for free. The average value of a product varies between Rs 80 and Rs 100. These are either samples or life-size products given to the startup by its D2C brand partners. Users can get early access to services and beta access to upcoming products in addition to unlocking exclusive offers, coupons, free trials, and rewards.
From its partnership with more than 60 brands, it offers around forty products, in categories such as food and drink, beauty care, snacks, health care and wellness, and nutrition, among others. Additional charges commission on the transaction, e-commerce service and subscription.
“In a way, we are introducing and launching new brands through our platform. We are at a very early stage and have a quality share of new established and less popular brands. We have activated 10,000 users to date in various top companies like Accenture, Wipro, Infosys, Deloitte, Amazon and Tech Mahindra and several startups. ”
Target working professionals
Launched as a subscription-based business and privilege platform, Blingg is also a community in the making. Find your place in a subscription e-commerce space, the platform exclusively targets working professionals, from now on, to build a community and monetize it before it expands further.
“Although there are 20 crore of online shoppers in India, around 4 crore of them are frequent buyers and we have filtered 2.5 crore (working professionals) because this audience has disposable income. They regularly spend for their lifestyle and want to try new exciting products, we couldn’t find a single app that could meet their lifestyle needs.
Growing traction of the trade based on testing
Discovery and testing based e-commerce platforms have been around for a few years, but have yet to take off in India. From now on, Smytten is the only established player in the market that targets premium and luxury brands to offer them a targeted sampling strategy.
“Dozens of new D2C brands are launched every day. With so many options, consumers would love to try and then buy. This would increase the demand for trial-based e-commerce, which is expected to reach $ 1 billion over the next four years, ”said Sanil. Overall, subscriptions are a booming trend and they’re unlikely to slow down anytime soon.
The startup will soon launch new subscription boxes such as Blingg Select and Blingg Premium. He is also seeking to close a seed tower soon and hit the target of acquire 1,000,000 paying subscribers in the next 12 to 15 months.
Sanil stresses that the current focus remains on building a strong community and subsequently monetization.
“The goal is to become the one-stop destination for consumers and brands of the new era and to connect them both. We are building a community of users that every brand wants to target and with which to engage. Once the community is built, we’ll be in a much better position to provide feedback services, user insights, brand interactions, and more.
Bling’s secondary purpose is to integrate e-commerce once the startup manages to acquire 1,000,000 subscribers.
“The consumer could purchase a product they have tried in the Blingg app itself. The integration of e-commerce will become our biggest revenue generator in the future. [sic]”