Story

Problem

Return-eCommerce return rate statistics. In 2021, online purchase returns spaned in almost all major product categories, ranging from 8% to 88%. Clothing retailers experience eCommerce returns the most, as this is the sector that 88% of consumers had decided to return their order.

Look – Apparels look good on website models who are 6ft tall, fair and extremely fit but not on customers in reality, which results in bad online shopping experience.

Customers have different body shapes, skin tones and height. They don’t resonate with the models shown on Ecommerce stores. This results in buying the wrong products.

Fit – Customers often face the difficulty of finding the right fit as sizes change with every brand, which results in customers to go through the tedious return process.

Solution

An AI, ML, AR/VR based Virtual Trial Room on shopping platforms where customers can try apparels & accessories online in real-time before buying.

Customers try on the clothes in retail stores and make a buying decision based on how it looks on them. This is the exact experience we are planning to provide to online shoppers as well with our Virtual Trial Rooms.

A Virtual Trial Room can help customers and eCommerce stores:

• Save Money
• Save Time
• Experience

Value Proposition
We don’t want Customers to wait outside the trial room of any store and want to minimise the return rate of e-commerce platforms (fashion). Saving time by helping them to buy right product with the help of Technology. We are helping customers to enhance buying decisions/ to visualize product in reality.

Market Size (India)

Online Shoppers – 20Cr
Active Online Shoppers – 15Cr
Inactive Online Shoppers – 5Cr
Inactive online shoppers are
expected to grow 50 crores by
2025.

Urban internet users are relying
on online platforms for product
research.

62% of urban users are
researching products online
before making any purchase
either online or offline.

50% of offline shopping across
categories involves online
product research.

How many people shop online?
With the rise of ecommerce, it’s only natural that the number of online shoppers worldwide rises along with it. As it stands in 2021, the number of digital buyers is at 2.14 billion.

That makes 27.6 percent of the 7.74 billion people in the world. In other words, more than one out of every four people you see around you is an online shopper.

Competitive Landscape:

Currently we have no competitors doing this . We will work as a B2B Service provider with Major Ecommerce companies.

Business Model

We plan to execute both the Business Models – B2C and B2B.

B2C:
In B2C model, we will integrate Virtual Trial Room technology on our platform to 3D Try on Apparels & Accessories listed on our website.

Initially, it will be Free but later we will charge elite, prime or plus Membership Fee for this feature. This Technology will be on subscription basis.

We also charge a minimal amount for using this technology so that people can click and share photos on Social Media as well as with their friends and family.

B2B:
In B2B model, we will partner up with premium Brands/Products with high ticket product line. (e.g Tanishq, PC Jewellers in Jewellery and Gas/Jack N Jones in apparels and so on)

We will charge premium fee and rent out our technology to them on subscription model. Because their forte is product and our forte is Technology.

Traction (Google Analytics)

Traction (Shopify Analytics – June’22)

Traction (Social Media – This Year till date)

Vision (To launch Fashion in Metaverse)

In the next few years, we have plans to launch VASHIONS in Metaverse.

Vashions = Virtual + Fashion. As a virtual fashion platform, just imagine how it feels to try in apparel and accessories in real time. We can make it a billion dollar business. Payment method in Metaverse will be either by Cryptocurrency or by INR.

Metaverse Fashion Industry will be valued $55 billion by 2030 according to United States Investment Bank.

Apart from Fashion Industry in Metaverse, we can also target Gaming Industry as it is $176 billion with $3 billion active players according to Roblox. Every player (avatar) will require cool outfit.

So, we are Solving Real Problem now and of the Future as well.

Funding Objective
● Marketing and Product Promotion
● Technology
● Making b2b clients
● Salary
● Miscellaneous

Achievements Till Now:
1. Bootstrapped (10 lacs and above)
2. Got Grant by State government (10 Lacs )
3. Done Pilot before launch with 90% positive response
4. On boarded few vendors and counting
5. Started selling and counting (Doing Promotions)

• Shortlisted and Incubated as a Potential Start-up under Bihar Startup Policy 2017.
• Received Grant of INR 10 Lacs from Bihar Govt. under Bihar Startup Policy 2022

Story

VASHIONS : VIRTUAL FASHION

We are the 1st Indian Ecommerce B2B, B2C platform which is going to provide Virtual Trial experience to customers, which is
equivalent of an in-store trial room for apparels & accessories.

(We have plans to launch Vashions in Metaverse in future.)