{"id":9209,"date":"2019-11-15T18:49:21","date_gmt":"2019-11-15T13:19:21","guid":{"rendered":"https:\/\/digpu.com\/?p=9209"},"modified":"2020-01-03T18:49:03","modified_gmt":"2020-01-03T13:19:03","slug":"leaping-up-the-learning-curve","status":"publish","type":"post","link":"https:\/\/digpu.com\/business-and-finance\/leaping-up-the-learning-curve","title":{"rendered":"LEAPING UP THE LEARNING CURVE"},"content":{"rendered":"\n

Akshat Malik, CEO& Director, ClickOnCare<\/em><\/p>\n\n\n\n

New Delhi, India, November 15, 2019 —<\/p>\n\n\n\n

Akshat Malik, CEO&\nDirector, started an online\nsales enterprise, ClickOnCare (COC), under a proprietorship format, in 2013. After trying out a market place model, he quickly iterated to close in on a niche market in the wellness\nspace, with Cosmeceuticals, Derma Care and Nutrition products. Today, the company is a market leader in terms of sales in its domain. Bootstrapped and profitable, the company has a full-time employee\nstrength of around a 100 people.<\/p>\n\n\n\n

An\navid golfer, a national level shooter and a HAM radio enthusiast, Akshat has\nbeen transforming the Cosmeceutical,\nDerma & Nutraceutical online business enhancing the reach of the pharma\nindustry. Currently, alongside ClickOnCare, he holds non-functional\nmanagement roles with PRAN, a content management house and Dravina Invest, a firm specializing in wealth management and family office businesses.<\/p>\n\n\n\n

Akshat takes us through his eventful journey, which represents a veritable case study in the Speciality Personal Care Industry in India.<\/p>\n\n\n\n

After a career with ING Vysya Bank, what motivated you to get into\nthe online retailing\nof Cosmeceuticals, Derma Care and Nutrition products, without any\nbackground in sales\nor e-commerce?<\/strong><\/p>\n\n\n\n

I\nstarted off my career with ING Vysya Bank, looking after the liabilities section. But in my spare time,\nI would help out with counter sales and billing\nat a local pharmacy. ftat made me realise the potential of pharma-related retail and I started out as a seller\non Ebay and Facebook,\nwith a few wellness products – Glucometers, Digital BP Monitors and\nWhey Supplements. I explored various\naspects of the business \u2013 right\nfrom the impact of the macro- economy and logistics to how to optimise Data & Content\nfor Customer Acquisition. <\/p>\n\n\n\n

fte selling experience on Ebay and Facebook, especially the response I received from Facebook, made me realise the potential in this space.<\/p>\n\n\n\n

\"\"
Akshat Malik, CEO& Director, ClickOnCare<\/figcaption><\/figure>\n\n\n\n

Tell us about the early years of ClickOnCare. What was the model you followed then?<\/strong><\/p>\n\n\n\n

In 2013, I launched COC out of a 1BHK residential office cum warehouse. While testing the waters and exploring various consumer segments, I had about 500 personal care and wellness products from the FMCG industry. Within a year, the product count increased to 3000 SKUs with an expansion under the Personal Care Segment and by 2015, it crossed 25k. ftis marked the inception of the marketplace model, i.e., we had a number of sellers on board and we were listing their products. We even introduced a line of clothing, furniture and books on COC and established our 1st brand association. Over the next year, the marketplace model was established and growing with a product count that crossed 1 lakh.<\/p>\n\n\n\n

How <\/strong>did you come to the current niche\nmodel from the marketplace model?<\/strong><\/p>\n\n\n\n

We realised that the marketplace model came with a number of operational\n& commercial issues, logistical and reconciliation\ncomplications. We wanted a\nmore sustainable model,\neven if it meant\nless customers to begin with.\nAlso, by 2016, I had adequate data on consumer\nbehavior on which I began doing my research.\nBy then, I understood the market very well\nand had more or less identified a niche.\nSo, 2017 was a landmark year for us. We\nalso began trimming\nout FMCG products.<\/p>\n\n\n\n

At\nthe same time, healthcare products saw\na deeper penetration and COC\u2019s niche\nstarted shaping up. We established our first internship program\nwith India\u2019s leading technical\nuniversity. ften,\nin 2018, we consolidated\nfurther and completely discontinued the marketplace model, shutting down\nnon-performing categories. We even\nbecame discerning within healthcare\nproducts, focusing on COC\u2019s niche, i.e. Cosmeceuticals, Derma\nCare & Nutrition\nand our product count optimized\nto 5k. We are adding\nproducts to our basket,\nbut very selectively and strategically.<\/p>\n\n\n\n

What is the current Infrastructure at\nClickOnCare?<\/strong><\/p>\n\n\n\n

Departmentalization started\nfor us in 2018;\ncurrently with 8 broad departments in addition\nto Legal & Administrative wings, even a team\njust for data crunching and analytics.\nA Team Strength of around 100 Employees,\nour office space spans over 4000+\nSquare feet.<\/p>\n\n\n\n

How well are you funded?<\/strong><\/p>\n\n\n\n

With\na growth rate of 1054% in 2018-19, ClickOnCare is Bootstrapped + Profitable. When I entered the business, it was with the aim\nof being profitable in the e-commerce\nindustry. Between\n2013 and 2018,\nwe were in the red. Since 2018, we found a niche for ourselves in a\ngrowing industry. Now that we have found our feet, the Company\nwould start Pitching!<\/p>\n\n\n\n

What\ndo you feel about \u201cGiving\nback to the Society\u201d?<\/strong><\/p>\n\n\n\n

ClickOnCare\nhas a strategic tie up with Yuvraj Singh\u2019s Cancer Foundation: YOUWECAN which\nhelps spread awareness and fight against the stigma associated with Cancer.<\/p>\n\n\n\n

What is your current focus\non and where <\/strong>do you see ClickOnCare headed from here? <\/strong><\/p>\n\n\n\n

ClickOnCare would continue to focus on Cosmeceuticals, Derma and Nutraceutical Segment in 2019-20 with International Delivery recently launched.<\/p>\n\n\n\n

Read the article on –<\/strong> Forbes India<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Akshat Malik, CEO& Director, ClickOnCare New Delhi, India, November 15, 2019 — Akshat Malik, CEO& Director, started an online sales enterprise, ClickOnCare (COC), under a proprietorship format, in 2013. After trying out a market place model, he quickly iterated to close in on a niche market in the wellness space, with Cosmeceuticals, Derma Care and …<\/p>\n","protected":false},"author":866,"featured_media":9213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[104,109,2398],"tags":[2730,126,3121,2732],"_links":{"self":[{"href":"https:\/\/digpu.com\/wp-json\/wp\/v2\/posts\/9209"}],"collection":[{"href":"https:\/\/digpu.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digpu.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/digpu.com\/wp-json\/wp\/v2\/users\/866"}],"replies":[{"embeddable":true,"href":"https:\/\/digpu.com\/wp-json\/wp\/v2\/comments?post=9209"}],"version-history":[{"count":0,"href":"https:\/\/digpu.com\/wp-json\/wp\/v2\/posts\/9209\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digpu.com\/wp-json\/wp\/v2\/media\/9213"}],"wp:attachment":[{"href":"https:\/\/digpu.com\/wp-json\/wp\/v2\/media?parent=9209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digpu.com\/wp-json\/wp\/v2\/categories?post=9209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digpu.com\/wp-json\/wp\/v2\/tags?post=9209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}