Making world a local market for India
Where were the apparels you are wearing right now manufactured?
In the era of globalization, apparels are manufactured where it is cheapest to manufacture. These are then imported in the country based on the aggregate demand forecast and prediction models of the importers. This leads to many inefficiencies.
- Long supply chain inflates the cost of the product
- Maintaining inventory adds to overheads at seller’s end, Further inflating the price.
- By the time designs are in your hands they are already several months old.
- The buying options you get, depends on not your choice, but the aggregated choice of the entire population.
In a nutshell you end up buying outdated designs of someone else’s choice at an inflated price.
Introducing Miracas Global
At Miracas, we set to solve the above problems. Our idea was to make the international shopping hassle free for our customers. We aimed to:
- Open the international market directly to the customers.
- Bypass the long supply chain
- optimize every step in the import process to reduce the “time to delivery” and the cost of the product.
- Let the customers decide what they want to buy rather than restricting their choices by aggregate demand predictions.
We achieved our goals by inventing the Miracas Global, the first and only cross border eCommerce platform in India.
It is a world class cross border shopping platform using blockchain technology, the same technology that powers bitcoin. Our customers can purchase products from around the world and get it delivered at their doorsteps.
How does it work ?
Our solution is a unique model, the Miracas model, that optimizes every stage of an order using cutting edge technology in order to achieve the above mentioned goals.
Here are a few important challenges that we have been able to overcome.
International remittances can cost up to 8% of the total amount in transfer/withdrawal chargers and the currency conversion charges. Customers end up bearing this cost directly, and more often than not, indirectly. So when you buy a product worth 1000 bucks, you end up paying an extra Rs 80 hidden in the cost every time.
With Miracas Global, you can pay for the product in Indian Rupees. We make payments to the vendors in their own currency.
We use blockchain technology to make sure that the payments are safe and fast with no transfer/withdrawal charges or commission.
And the best part is that we are responsible for your money. If you are not satisfied with the product or your order is delayed, you can opt for a full refund.
2. Customs clearance
The hassles of customs paperwork can’t be overstated. Shipments might be stuck in customs for week, if not months. It may further lead to demurrage charges on top of shipping charges.
Our model takes care of the paperwork and customs clearances, for most parts, automatically. We are responsible for delivering your orders right in your hands.
Customs is a bureaucratic process, but we don’t want you to worry about that. If for some reason, the shipment is delayed, you get your money back. No questions asked.
3. International Shipping
International shipping charges can dent your pockets by as much as Rs2000 to Rs5000 per consignment. That’s the primary reason why shopping from international stores is not practical.
We bring down the international logistics cost to more than one tenth of the usual, at the same time taking care of all the hassles of it.
Think about it, getting a dress shipped from abroad is now cheaper and easier than getting it shipped from Delhi to Mumbai!
Of Course! If you can return a product from domestic market, why should international shopping be any different.
We provide free return pickups for over five thousand pin codes. And if you live beyond these pin codes, don’t worry, we will provide you reimbursements against return courier charges.
Apart from these, we have solved numerous challenges to make a Miracas global a great place to shop. The dream we are chasing is to free the experience of shopping from the bounds of geography and political boundaries. Fashion should be universal, style should be global, and the world should be one marketplace.
At Miracas, we are trying to make the world a local market for fellow Indians.
Originally published at medium.com on August 15, 2017.
About the author: Author is the CEO of Miracas.com, an online fast fashion brand. An alumni of IIT Bombay, he is a technology enthusiast with more than 10 years of experience in the fields of electronics, data science and web development and has authored multiple patents in these fields.
He has a keen interest in application of Arts in Technology to invent more humane systems. In his free time he likes to read, write and make long road trips. Please contact him at email@example.com