Landa Bazaar or weekly bazaar is considered to be the go to place for cheap and even used branded products which are otherwise unavailable in the local markets or are very expensive. Such markets are situated at several spots all across the country.
However, despite the ease of access and the desire to save money, many people often miss out on these bazaars for a variety of reasons.
With the rise of smartphones and 3G/4G, a new startup has brought about a new idea; bringing the landa bazaar to the internet. Muhammad Usman Saleem and Fareedun have launched a first of its kind online landa bazaar named Khazanay.pk.
About the Online Landa Bazar
The website uses a 10-star rating system to identify the conditions of all the products on sale at the online store. Khazanay.pk staff also post photos of the items along with item listings. Currently, the online Landa bazaar only sells branded shirts and shoes. All items are cleaned up and examined before being put up for sale.
To give you an example, buyers can get shoes for as low as Rs. 500 and shirts at Rs. 350. The current stock offers a wide range of shoes and shirts for kids, men and ladies at affordable prices. And that’s just the start.
Background & Future Plans
The founders behind Khazanay.pk recounted why they entered this business. Both are Chartered Accountants by profession but they grew tired of their jobs and wanted to start their own business.
The Sunday bazaar near their house and the rapid growth of e-commerce in Pakistan gave them the idea to try out an online landa bazaar.
They received 6 or 7 orders on the very first day of their store’s launch, which slowly grew to 50 or more within the next few months.
They have been running their business for over 18 months now and have remained profitable even after taking into account their marketing, investment costs, office rent and free shipment offer on all orders.
The duo have also pitched their idea to a popular Silicon Valley startup incubator and have been selected for incubation. The team will be leaving for the US within the next six months.
Prior to this, the startup was supported by the IBA’s incubator centre which offered them office space and allowed them to make use of university interns.
Until now, khazanay.pk has sold items worth over Rs. 20 million.
Usman told BBC Urdu that they started with selling shoes from Nike, Adidas and Rebook and expanded to shirts based on buyer demand. Now they plan to include household items and kids toys as well.
Fareedun and Usman claim there is no other website which offers the retail model offered through khazanay.pk and that there is great potential for further growth. The founders are currently looking for an investor so that they can improve the online landa bazaar even further.
In a country like Pakistan, the trend of buying cheap used items from landa bazaar is not going to die any time soon. With the launch of khazanay.pk, buyers now have a choice to order items straight to their house without having to visit the crowded market places.
If done right, this model just might end up bringing more budget-conscious consumers to online shopping. Perhaps this just might make shopping online in Pakistan all the more mainstream.
Via: BBC Urdu