Happihub is enabling easiest purchase rewards option for Bangladeshi consumers through cashback offers and digitizing offline MSMRs (Micro, Small & Medium Retailers) by providing data driven re-marketing tool.
Age of Pilot Operation: 1 Year (December 2019 - till date)
App Users: 35K+ Registered App Users (Mnothly Active 9000+) Registered Merchants: 170 Brands/Shops GMV or Platform Transaction Value: 101,053 USD
Consumer - Middle/Lower Middle Class Millennial Merchant - Micro, Small & Medium Offline Retailers (Restaurants, Beauty Parlour, Fashion House, Grocery Store & Medicine Store)
Market Size of Cashback Reward: Worldwide - 120 Billion SAM in Bangladesh - 600 Million SOM by Happihub - 240 Million by 2024.
Problem or Opportunity
Problem: Consumers - The cost of living has increasing at rate of 8.8% every year in Bangladesh which made the life costlier for middle/lower middle class population and frequent savings or purchase discount option is only available for 1 million credit card holders among 20 million bank account holders.
Small Offline Merchants - 90% of the merchants are offline and they are not capable to build their own data driven CRM system for re-marketing and customer retention.
Bangladesh As A Market: - 170 Million Population (8th largest worldwide). - 110 Million+ Middle & Lower Middle Class Population. - 90 Million Internet User (5th Largest in Asia & 59% Internet Penetration) - 53 Million+ Smartphone Users - 7.3 Million+ Micro and Small/Medium Businesses. - 7.5% GDP Growth is Being Expected in 2021 (Assumption of Asian Development Bank)
Solution (product or service)
A platform where customers are getting opportunity to save money on bill and local merchants (MSMEs) are getting connected with customers in real-time through data driven re-marketing tool.
Direct Competitors: - Crashedeal (Coupon Platform) - Royalty Bangladesh (Card Based Discount Platform)
- Technology of bill receipt/invoice processing to extract data. - Enabling offline purchase data of the customers in online. - Experienced team with prior startup experience. - Re-marketing tools for merchant that will be needing at least 6 months to develop.
Revenue: - Partner Merchant Commission (1.5% - 20% based on category) - Service Fee on Cashback Amount Redemption From Users (5% - 10% based on purchase of vouchers or products)