Talk with Fiyodo, local handicraft venture

Talk with Fiyodo, local handicraft venture

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Pic: Fiyodo Team

There are lots of e-commerce sites that sell handicrafts. But, they do not sell in the domestic market. They only ship abroad. We are the first dedicated e-commerce selling handicrafts.

Our venture is focused only one category of products i.e. local handicrafts and we aspire to become an outlet to both national and international consumers

Our business is extremely consumer driven. The moods and choices of customers may deviate uncertainly, giving us extremely less time to change our approach to customer. We also have to watch for the trend and go with it.

Fiyodo

works on B2C (Business to Customer) principle i.e. Getting products directly from producers and giving it to the customers and clearing the middle men. Being the only link between customers and crafters, we are able to keep prices low and still earn profit. As soon as we ship abroad, the returns on investment increase rapidly. The total returns will be extremely higher than the invested amount which will be divided upon all investors.

Lots of E-commerce sites have been coming up these days. But, most of them focus on electronics, clothing and other things that are imported. Although huge amount of handicrafts are produced and exported, the consumption of handicrafts in the domestic market is very less. The main reason for less domestic consumption is extremely high price and insufficient information. We are connecting the local handicrafts market with the technology using our website Fiyodo.com and its social outlets such as Facebook and Instagram pages. By trying to minimize the costs, we are trying to give the customers lower prices so that they can afford and buy local Nepalese products.

Mamta Gurung from Kathmandu, is one of our early customers. She ordered a knitted infinity scarf. She had been using her scarf and also asked her friends to buy our scarfs. She also ordered several other products and has been satisfied by them.

Problem and Solutions

We had been busy with our personal stuffs like exams and applications. Our focus was diverted. Thus, the sales were low. To get instant money, we used some other ways like building another e-commerce that would sell everything. But, we should have never stepped on two boats. Due to this double e-commerce engines, we lost our focus and capital was depleting. Then, we closed down the other e-commerce and again started to focus on Fiyodo. We are now back on track. No matter how bad the conditions are, you should always stick to what you have started. If you look for sudden returns only, your whole business will be destroyed.

 

 

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