UNYDE: Creating and Converting Experience into Buying, Peaklife Speaks to Tarun Pundhir to understand the consumer experience and engagement while shopping with the technology.
Tell us about your innovative technology of Unyde and how it works?
Tarun: UNYDE combines the intuitive and advanced technology of IoT, Location Proximity and Programmable Advertising. We are creating India’s ﬁrst and largest network of connected smart stores enabling the entire ofﬂine Retail space with features and technology similar to that of online. To sum up, we are bringing online like intelligence to ofﬂine shopping space enhancing Consumer experience and engagement. Our Consumer app -WOOGLY, works as a platform for connecting and communicating between stores and consumers. Pioneering our way in understanding and analyzing ofﬂine consumers’ buying behaviors, purchase patterns, history, preferences etc. in turn helping brands share context-rich, accurate and location-speciﬁc information to their targeted consumers. This ultimately results in increased walk-ins, sales and revenue.
Currently, where all is the Unyde technology being used?
Tarun: UNYDE is revamping the entire ofﬂine consumer journey so we are targeting all the touch points for our technology: Malls, Brands, High-street markets, Stores, Societies and neighbourhood shops and complexes. We currently have WOOGLY app, up and running in Logix Mall Noida and partnered with 10 other leading malls in Delhi/NCR which are going to be live on our platform in the coming weeks. Along with this we have our brand partners such as W, Chaayos, Archies, Colorbar and 1000+ retail stores listed on our platform covering most of Noida region and go-to markets for its residents.
With the concept of Smart Cities, how far has your project helped in connecting smart stores, and making it easier for customer experience at the stores?
Tarun: Imagine walking by a pet-store and getting notiﬁed that the pet food product that you usually buy is right now at 20% off just for you for another 30 minutes. Would this not be the most relevant and targeted promotion message that one can receive rather than the hundreds that bombard message inbox throughout the day. This is the heightened and customized consumer experience that we aim to provide through our technology and platform. Connected smart stores act with actionable insights and business intelligence when connecting with their ofﬂine consumers and communicating with them. Ours is an eco-system where all connected stores, be it brands, or mom-pop stores become a part of this and make the entire ofﬂine shopping experience Smart.
In the age of popularization of e-commerce, where does this technology stand?
Tarun: There is no denying that e-commerce has taken up the industry by a storm and has grown considerably. However, even today after e-commerce has grown leaps and bounds 97% of the total retail industry is still Ofﬂine. This is a huge market size with absolutely none or scattered efforts to cater to the largest consumer base. And despite the ofﬂine consumers remain the most neglected, scattered and technology starved target base. We are addressing this gap between Ofﬂine and Online by enabling Offline Retail with features, technology, and things which brings online like beneﬁts to ofﬂine.
world with enhanced consumer experience. We change the way shopping trips are made and experiences of ofﬂine consumers become as tech and relevance friendly as possible.
Also tell us about the Woogly app, which was recently launched?
Tarun: WOOGLY is a consumer app with great importance on consumer experience and engagement when shopping. It aims to become a one stop solution for all things shopping. One-of-it’s kind app through which consumers get notiﬁcations of offers or deals currently running in any store whenever they are in or around that store, they can even search any store or deal in their own society shopping complexes or markets and search anything and everything, even a yellow coloured chart paper and the current offer on it in a particular store in their neighbourhood also allowing them to communicate directly with that store. It basically offers:
Relevant Search in the neighbourhood Uniquely curated Information Easy and quick discovery of stores, brands, malls or products Current Offers, discounts or latest launches in stores Platform to Communicate Attractive engagement campaigns by the brands
In WOOGLY, UNYDE is developing a comprehensive solution which takes care of everything in and around shopping with multiple added features like 3D In-door mall Navigation, ﬁnding Car in Multi-level car parking of malls and on-the-go notiﬁcations of latest trends and offers whenever in or around the store.
What were the difﬁculties and hurdles in the start of your enterprise and how did you overcome them; and how have you been funded for expansion?
Tarun: Our product has multiple and varied stakeholders, the real challenge we face right now and which we are coming around is around educating and informing these multiple stakeholders for the value we bring to all of them as swiftly as we can. We are constantly on the move to educate malls & markets, consumers and brands for the range of beneﬁts and advantages we offer to each one of them. It initially was a bootstrapped start-up but have raised an initial capital from marquee HNI & Angel investors. We are also currently preparing to initiate the seed round funding in the coming weeks. Details shall be following soon, keeping our ﬁngers crossed.
Where all can we expect the technology set up and what are the future of Unyde?
Tarun: As any other start-up in its ﬁrst year of operations we are focused and determined on growing organically and in a lean manner with strategic alliances and partnerships keeping our core of technology and innovation intact. We aim to cover entire Delhi-NCR within ﬁrst two quarters of 2019 and expand our operations to PAN India by 2019. Our key stakeholders during this expansion shall be around Malls, Shopping Complexes, High-street markets, Brands, Retail stores and societies.