Meet the Entrepreneurs
MySales November 2013
Mobile Innovation
CONTACT INFORMATION
mysales
Enhancing channels of communication between businesses and consumers in Armenia Zhenya Karapetyan, Founder, Yerevan
CHALLENGE Securing discounts on products has become more popular across the world, especially as people have gained increased access to information through the internet. Unfortunately, producers in Armenia are still not able to communicate these discounts to current and potential consumers via the World Wide Web. The only means by which individuals find out about discounts is by physically entering malls and shopping areas, or through the press and Internet sites. Furthermore, retail companies also lack the capacity to promote their discounted sales to the Armenian market, limiting their revenues.
“THERE IS DEMAND FOR A PLATFORM WHERE DISCOUNT SALES ARE CONSOLIDATED AND ADVERTISED TO CONSUMERS WITH LIMITED BUDGETS.”
IDEA
Yerevan, Armenia
+60 529876, +94 515189
jenkarapetyan@gmail.com
www.mysales.am /mysales.am
@mysales2
BUSINESS MODEL MySales is a web-based app that provides information on the latest discounts and sales relating to clothes, shoes, and accessories. The website also gives consumers the opportunity to identify items in a store and register their preferences. For businesses, MySales offers direct and real-time market information so that storeowners and managers can better cater their products to specific customer segments. The MySales mobile app will be launched at the end of 2013. The revenue model is based on monthly membership fees for businesses that want to advertise their sales and discounts on the platform. Retailers can sign up for three different types of memberships: (1) free membership where companies can promote their sales and their information; (2) standard membership (USD100 per month) where businesses can also include product images, colors and sizes, and customers can subscribe to their stores; and (3) the premium package (USD200 a month), where businesses benefit from all of the aforementioned services, plus additional targeted promotion through the mobile app.
Zenhya Karapetyan, MySales founder, noticed that the channels of communication between consumers and producers were weak. Furthermore, she realized that smartphones could play a key role in promoting retail sales and increasing customer satisfaction. Her idea was to create a platform where individuals could search for, identify, and access discounts on purchases, specifically clothes, shoes, and accessories. After discussing the idea with her friends and her partners at the mLab, Zenhya created the website in June 2013, so potential users could familiarize themselves with the idea of MySales before the mobile app would be launched.
“MySales WOULD ALLOW THE ENTIRE POPULATION TO SEARCH, IDENTIFY, AND ACCESS HIGH QUALITY GOODS AT DISCOUNTED PRICES.”
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