Competitive Intelligence

Market Research / Competitive Intelligence

VerifyEase helps family business in coir industry to gain over competition and explore new market opportunities

Background:

Coir production in Kerala is mostly done by small scale and cottage industries. It is more of a family business for people in coir production. Given the abundance of coconut trees in almost every home in this small town of Allepelly in Kerala, many houses produce coir in their backyards. Vasundara’s family is one such family where she along with her husband and two sons, produce coir in their backyard and sell in the local market to multiple agents who offer best prices.

However, the process involves going to the market to enquire about the quantities and price with agents, coming back to update the same at home, then pack the coir as per the agreed quantities and transport the same to market and get the payment. In this process, many competing families zoom ahead of Vasundara’s family and get better prices.

Challenge:

First, this is a time consuming process as the coir prices varies with lean margin in the market. There is no transparency in the process as there are chances of reporting false/cooked-up data by the agents. Vasundra business was dependent on agents.

Solution:

Our team analyzed their business model and offered to help them get better prices through VerifyEase. The app was installed in the mobile phones of Vasundara’s family members. Now, one of her sons Kumar goes to the market daily in the afternoon and enquires with about 40 to 50 agents about the requirement & price. Then he pushes this information instantly to his family members through VerifyEase. Updated with accurate and timely information, the family packs the coir as per the collected information and transports to the market with ease.

By using our Innovative solution, Vasundara’s family delivers coir to the market 1 to 2 hours earlier than their competitors and gets paid much early. Now Kumar is utilizing this saved time to explore further opportunities with more buyers in and around of Allepelly.

Benefits: