TrapTheDeal – A company stepping up the B2B marketplace experience
- ByStartupStory | November 17, 2022
“Desh Ki Dukan, ” as said by Srivastava is the motto of TrapTheDeal. The vision to make a platform that serves the country online drove the founders of the company to develop this platform.
Intention behind TrapTheDeal
With their experiences in the B2B marketplace, they realized the mishaps and shortcomings of the B2B segment, where vendors face trouble while transactions, and the lack of alignment in the market. That is when Vinay, Shivam, and Pramod came up with the solution, i.e., their company Trap The Deal. Through this platform, vendors and customers can be connected through online mode. This enables the vendors to go beyond traditional methods and leverage technology to make transactions. “We have been working in the industry where we have dealt with retailers. We felt that the retailers must be driven through technology platforms. So, we developed a technology-oriented platform where we are helping retailers to make their online purchases smoothly and have a hazard-free experience.”
TrapTheDeal – about the platform
TrapTheDeal, founded by Vinay K Mishra, Shivam Srivastava, and Pramod Singh in 2022, allows one to search for any product without the vendors having to invest in keeping an inventory physically in a warehouse or a store. They are offering multi-category consumer goods — the energy sector where the platform is selling the complete range of batteries, inverters, and solar energy run products; large and small appliances for which the market is huge and required a means of distribution. Trap the Deal offers credit terms to retailers where they can purchase the product and pay later, and most importantly in a hassle-free way. TrapTheDeal is a single platform that offers finance, inventory, and products at the same time, aiding vendors to enhance their business.
The company’s objective is to target Retailers and Direct-to-Consumers from the metro and non-metro cities, as well as rural market areas, who haven’t purchased online enough and feel uneasy dealing with other similar platforms. These are mostly mobile and social media users. TrapTheDeal makes it exceptionally simple for these users to buy with confidence with just a few clicks or through an appointed Key Account Manager.
Positioning TrapTheDeal in the Indian market
Indian electronic consumer market is close to $40 billion. It is expected to enhance by 12-14% by the year 2024-25. The company’s aim is to take hold of at least 25% of this market. They are expecting around 5 lakhs physical retail stores onboarded on the TrapTheDeal platform in 2023. According to the report, if a positive rise in the industry occurs, TrapTheDeal assumes to have 1000 crores of business by 2025, and that is what the founders are dreaming of.
They are helping the vendors enhance their business. The messy supply chain in the industry creates hurdles in the process of business for vendors. TrapTheDeal has provided consumers with such convenience that even consumers living 500 km away can receive products within 24 hours. This plays a fascinating factor in the B2B segment placing TrapTheDeal in a unique position.
It is important to grab the tier 3 and tier 4 cities as the usage and availability of the internet have been expanding. Rural people are not habituated to technology and online platforms, and the company is also trying to train them to do the same. The feasibility of courier services is a challenge the service provider has to face. “Finding or disrupting the market ecosystem of a given tier 3 or tier 4 city is the main challenge. Our focus is to look upon those markets where we can actually supply material goods,” said Shivam Srivastava. They are building their own warehouses pan-India and facilitating transportation of goods via them. Through TrapTheDeal the whole process of transaction becomes time efficient.
The Indian government is encouraging citizens to move to digital platforms. However, even with the launch of various UPI platforms the retailers’ issues were not being solved. They need a platform to place their order. The government of India is facilitating the ease of this process by supporting technology-based startups in the country with rewards and easing the system of documentation. Everything can be now done digitally.
How covid has evolved the market
The Indian consumer market is scaling up its business. Covid has shifted the world to an online mode. In the post-covid world, retailers want to have everything at their fingerpoint, available easily on mobile apps. TrapTheDeal team has kept that necessity in mind and developed a mobile application for retailers to order from. With the advent of such a platform, retailers do not have to worry about shutting their businesses down even if another wave of covid infects the country. Their businesses can continue to be active online.
Before covid, the most transaction happened physically. This got collapsed during covid. Post covid, many fintech, and NDFCs started offering consumers lines of credit. That helped vendors boost their working capital. The cycle of sale and purchase, therefore, increased. As per research, the Indian retail industry is projected to grow by 9% by 2030.
Future goals
“Humari speed hi humari pehchan hai,” Srivastava quoted Ranveer Singh while mentioning the company’s goal. The company is targeting to deliver products at a speed to the customers, in about 6-8 hrs. Another, goal of the company is to scale up its technology. They are also planning to grow pan India in the next 3 years.
Further, the company’s goal is to slowly move into the offline segment as well so that the retailer who orders from the platform has both the option of online and offline delivery – he or she can pick their order up from the warehouse itself, or wait for the product to get delivered.
The advice that the founders of TrapTheDeal give is to follow your dreams. There is never a better time than the present, so start working on your dreams as early as possible. As Vinay Mishra puts it – “Vision with patience” is the best formula for success.
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