The website, ‘taggle.com’ would bring prospective customers of different products and merchants on a single platform, offering a win-win situation to both.
Though the concept of group buying is old, Taggle is facilitating collective buying using the power and reach of internet. A group of consumers collectively come forward on a platform to buy a product, registered merchants sell the product, usually in bulk volume, to the group resulting in volume discounts.
Taggle will bring forth and create a community of shoppers who come together to give merchants volume business in return for bulk discount.
This would guarantee merchants a minimum number of customers for their products and, customers would be able to secure good deal in return. In this regard, Taggle is working closely with an array of businesses ranging from food and beverage, wellness, beauty, travel and adventure sports. Presently, there is an offer on Taggle, for example, from a Bangalore-based restaurant selling continental food worth Rs 500 for Rs 250 if a pre-determined minimum of number of buyers opt for it.
Briefing reporters, Founder & CEO John Kuruvilla explained that taggle.com would ensure that consumers be offered products at low rates and also that merchants would be able to make volume sales of those products.
Ease of usage
On any given day, the website will have two offers for a limited period for customers to invest on.
By clicking on the ‘Buy’ button and making an upfront payment on a future purchase, a customer expresses interest in an offer. The payment can be made using a debit card, credit card, cash card, or online bank account along with furnishing required information of the customer. If the offer is to go live, a pre-determined minimum number of customers must buy the offer.
Following this, each customer will receive a Taggle coupon to be redeemed over a three month period. In case, the minimum number is not met, the offer is closed and the customers will be refunded. Taggle allows customers to gift offers over the internet and enables them to suggest retailers. It is all about asking consumers to push their friends and families to transact, mentioned Kuruvilla. Taggle began its journey nine months ago and is presently launched in Bangalore. Two investors, Battery Ventures and Greylock Partners, have together invested $8.7 million in Taggle.