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    Date submitted
  • 30-Oct-2016

VisualEz

Abstract

HoloHome, the first product of VisualEz, is a SaaS-based mobile application which renders virtual reality experience at retail outlets enabling consumers at retail stores to walk through a pre-designed and customized spaces with their shortlist products installed, helping consumers get a better understanding of appeal for different product combinations. HoloHome has been able to produce unique realistic results because of our proprietary software that converts digital catalog images to real renders to almost 80% accuracy.

Video

Additional Questions

Who is your customer?

Retailers of Home Improvement Industry

What problem does this idea/product solve or what market need does it serve?

• Retailer's point of view: Retailers of home improvement industry sell amazing products but it's really hard for customers to visualise how all the possible things might come together in a real space, this lack of visualisation at retail stores results in unsatisfied/unhappy customers and hence lower customer retention for retailers. • Customer's point of view: It's a well stated and known fact that 100% of households have an aspiration to build their own home. Out of those who have to build their own home, 60-70% have it as their biggest investment. Let's look at some other purchases a consumer make: Cars: Are sold by their experience of driving, so test drive helps consumers for the same before buying. Clothes: Are sold by their fitting and look, so trial room helps consumers for the same before buying. Gadgets: Are sold by their designs and User experience, so display stores help consumers for the same before buying. But when it comes to home, a person can visualise the final appeal only after purchasing and installing all products of various sectors like paints, furniture, tiles etc.

What attributes will make this idea/product successful? Why do you believe that those features will create success?

Since we have MVP ready with us, we have started testing at retail locations. The metrics or the attributes making the product successful have been categorized on two fronts: Retailer: 1. Customer conversion: It has increased at least 10% post-implementation of VisualEz at retail outlets 2. Customers coming back for purchase: Since deals are not finalised in one go, hence it becomes important for retailers to bring their customers back to their retail outlets 3. CRM integration: To follow up with the customers Consumers: 1. Understanding of product: How much a consumer is understanding a product post-implementation of VisualEz. 2. Purchase confidence: Usually consumers are not confident while purchasing as in how the products are going to look like in their space after installation. Hence, it becomes one of the important metrics. 3. Sharing images with family & friends (while purchasing at retail outlets): Consumers can share best angle images of the space with their friends to get their opinion if products bought are appealing or not. 4. VisualEz purchase history: To track down the purchase details if required in future. For instance, if one product breaks, a consumer can track down from where the product is purchased.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

The success of the product in the market can be broadly classified into two categories: 1. Industry Knowledge: One of the co-founders, Aman Khandelwal, has a year-long experience in home improvement industry as a ceramic tiles dealer. He possesses a great sales skill due to his year-long selling experience. He has worked closely with almost all the stakeholders of this industry. He has his family business running for 35 years in this industry and hence has a good industry connect and knowledge which is of utmost importance for getting a product to market. He coordinates with one of the part-time intern, Shrey Maheshwari who is a graduate from IIT Delhi and is APM at Flipkart, to bring out the best go-to-market strategy and pivots required to make this product a grand success. 2. Technical and start-up ecosystem Knowledge: One of the co-founders, Shubham Maheshwari, is a technical expertise guy who co-founded 3 early-stage startups (Bathinda4u.com, CashbackOS, Zindagiregister.com) during his graduation. We recently had our first official hiring of a Unity developer RishiRaj. Shubham coordinates with two developers (one full-time and one part-time) to create the best of the technology required to make this product a great success.