Delhi-NCR based automotive startup Carorbis, pronounced (Car-or-bis) is an online platform to buy automotive accessories and replacement parts.
The automotive aftermarket industry is one of the least understood and least transparent industries in India. The information around auto parts is either insufficient or unavailable. The unorganized sector alone caters to approximately 52% of the total aftermarket sales.
There are other issues that a consumer faces as well:
- High chance of buying counterfeit spares
- Inconsistent prices
- Lack of decent options in the market
- Difficulty finding the right suppliers
Carorbis’ founder Rishab believes that buying parts and accessories for your vehicle can be made easily accessible and effortless. His goal is to provide an online platform with great customer service, competitive prices and quality products. This idea led to the conceptualization of this company at the tail end of 2020.
Carorbis provides accurate and trustworthy information on auto parts and accessories and helps people buy them more efficiently. They sell a wide range of genuine products sourced from top licensed merchants in India. They make this possible by maintaining a tight quality control over their entire supply chain to ensure product authenticity.
How It Started
While working on his MSc. project in the UK, Rishab got exposed to some of the country’s expansive repertoire of the auto spare parts industry. The country boasts of big centralized online stores selling millions of automotive accessories and parts, offering a wide range of items at affordable prices and quick doorstep delivery. The market caters to a diverse customer base with these services.
In complete contrast to India, “where browsing through Delhi’s Karol Bagh market to find a spare part for my Honda City turned out to be a futile exercise” Rishab said.
Looking for products online was also not straightforward. There’s a general lack of trust since you don’t want to put a knock-off component on your car and risk damage in the long run. The dearth of decent and trustworthy options in the marketplace along with great business potential fuelled Rishab to start Carorbis.
Understanding the Business
When they started out, Carorbis team faced a dilemma of what business model to choose. After thorough market research they found out that there is a huge disconnect between supply and demand leading to (potential) huge revenue loss.
Rishab says, “I knew that there are customers looking for certain products that they might not be able to find nearby and a company may be selling that product elsewhere but has poor online visibility. In addition, a lot of small businesses lack resources and expertise to effectively market and sell their products online. We recognized a business opportunity where we could capitalize on this gap. Simultaneously, customers will be able to find the right products and sellers will increase their turnover.”
They decided to build a technology enabled platform which lets merchants sell their products directly to buyers in the B2C segment. To ensure quality, price and authenticity they adhere to strict protocols when onboarding sellers. Companies selling knock-off accessories or sub-standard products are not allowed to list their products on Carorbis. The sellers also need to follow operational guidelines authorized by Carorbis to ensure best customer service. Along with that, all seller partner warehouses are also inspected by Carorbis’ team.
How It Works
Carorbis onboards merchants on their platform from all across India after a thorough review of their company history, products they’re selling, brand certifications and verification of all the information provided. These merchants include authorized dealers, importers, direct brands and manufacturers. Their team ensures that these sellers are well equipped and provide only genuine products.
Once the seller’s application is approved, Carorbis’ team of experts helps them in listing all the products on offer. They’re then given access to Carorbis’s technology suite to carry out the entire business of selling parts online. Sellers can access every detail from the dashboard where they can process incoming orders, view notifications, withdraw balance payments etc.
“Unlike other platforms, we make sure we play an active role with every seller partner to improve the quality of their listings, keep their prices in check, promote good products and give healthy feedback to sellers, and in that process we create a positive feedback loop that helps us improve the quality of our products and services” says Rishab.
He adds that they have partnered with over 30 sellers/brands which include companies like Trip Machine Company, Polco Car Care, and Mk Designs and are constantly adding more seller partners to their platform.
The Road Ahead
Rishab says, “The Indian auto aftermarket has not yet matured enough as compared to our western counterparts. But it’s poised to grow at a higher rate in the next 5-7 years owing to a steady increase in purchasing power, higher intensity of vehicle use, increasing knowledge among consumers and growing adoption of online first consumption.”
For Carorbis, the way ahead from here is to meticulously and constantly onboard quality suppliers to expand our catalog of automotive accessories and parts. “We consistently work on improving our technology whilst introducing new features to provide a seamless experience for our sellers and customers.” added Rishab.
But we won’t stop there, Rishab says. “Our goal is to eliminate dependence on multiple channels like mechanic workshops, independent garages, shops, and unauthorized dealers, for buying automotive accessories and parts and give customers a single platform with great customer service, competitive prices and quality products.”
Disclaimer: This is a company release. No HT journalist is involved in creation of this content.