We bring traditional fish mkt to food connoisseurs' doorstep: Fishbuckets

Fish markets in India have been predominantly unorganised and marked by large gatherings, noise and chaos. However, things seem to be changing with few new generation entrepreneurs, startups foraying into the space, delivering ready to be cooked fresh, sweet water fish, all cut, processed, cleaned and vacuum packed. The fledgling brand- Fishbuckets is already a household name in and around Kolkata. That's not all. It seems well set to enter other geographies too and to reach out to all sweet water fish eaters.

Speaking to Bizz Buzz exclusively, Kohinoor Mondal, Founder, Fishbuckets, throws light on this changing dynamics, changing pattern of customer behaviour and the challenges before the organised players to make the consumers understand the advantages of buying from organised players.

Your new business - Fishbuckets.com is completely different from your existing one which is running high-end salon chain. So, what was the trigger behind foraying into this new space?

Yes, we have been in the salon industry for almost 15 years now and all along we were considering to diversify into different and non-related sectors. In the 7-8 years we have moved into sectors like ethnic wear for men, women and children, sarees and premium tailoring services. We are also into composition and designing of foreign publications. However, with the break-out of Covid all these businesses were affected badly. Retailing came to a standstill. However, all along we were contemplating to enter the food sector but we were never eager to open either a restaurant or a cafe or a coffee shop. And at the same were closely studying the growth of online delivery business and the changing pattern of customer behaviour. The second lockdown really spurted to start Fishbuckets where we started delivering fresh, sweet water fish, all cut, processed, cleaned and vacuum packed. The items are just ready to be cooked. Apart from fish we are also selling prawns, chicken, mutton and eggs.

How is the organised (branded) sector meat & fish market (although you are only into home delivery format) picking up in India? You must have done some market study.

In India, the fish and meat markets are primarily and predominantly unorganised. In the last few years we have seen some organised players operating in this sector. The challenge before the organised players is to make the consumers understand the advantages of buying from organised players. We are not an alternative to traditional markets. We are just taking the traditional market a step ahead by delivering the items straight to the consumer within certain stipulated guidelines. Consumers' buying pattern has also changed which is a big impetus for us.

How do you mitigate the risk of wastage while dealing in perishable food items?

The risk of wastage is always high while one is dealing with perishable goods. It can only be reduced through a highly efficient logistics and packaging mechanism. From the point of procurement to the final point of delivery at the customers' doorstep, it is ensured that the quality of the item will not be compromised at any cost. If this is the motto of the organisation, then steps are being taken at every point to keep the items are fresh as possible. Hence, there is a constant upgradation of logistics infrastructure, packaging materials, methods and procedure and regular monitoring to reduce the delivery time. Through these processes we try to mitigate the wastage risk.

How do you ensure quality and consistency when you have to source it from unorganized sector only?

Through multi-point sourcing and regular and constant quality checking mechanism. It is a constant process and it has been inculcated among all the team members, starting from the sourcing agents to the packaging guys. At every point of operation quality checking is been done. Obviously, it is most extensive and rigorous at the sourcing points but each and every member of the Fish Buckets operation team is empowered to point out any quality issue because we feel that our quality will be sole differentiator in the market. Even after following all these processes if it is noticed that a particular item is not up to the specified quality levels, then that item is rejected. And for that we may have failed to deliver a particular item. Even then, we feel that it is a better option rather than delivering something where the quality is not up to satisfaction levels.

How do you ensure that the entire supply chain - from the original source to you and from you to the consumer is properly in place?

In this short period of time we have managed to put in place a dynamic quality control mechanism which is active at every touch point, starting from the point of procurement to the final destination that is customer's doorstep. We ensure that there is zero slippage and we have a zero-tolerance policy on quality issue. These factors help us is ensuring quality control across the entire supply chain.

Pricing is an important factor in this scheme of things. How do you ensure that you offer competitive pricing? Is this particular market price sensitive or quality sensitive?

This is a market which is both quality and price sensitive because we deal with such a product whose knowledge to known to each and every one. Most fish eaters are fish lovers, if not fish connoisseurs. And this is even more, true when it comes to Bengalis. So, as an organisation we are extremely sensitive to both price and quality and this sensitivity comes from our immense knowledge of the market and consumer psychology. Armed with this knowledge and by keeping all other factors in mind we are at price points which are extremely competitive and attractive to the consumers.

What are your other USPs?

Convenience, cleanliness and competitiveness - these are our three USPs. Buying fish from www.fishbuckets.com is the most convenient activity. Fresh fish is just a click away. There is no need to visit the market. There is no need to bargain with the fish seller. All our items are cleaned, vacuum-packed and supplied with ice. We tailor-make the packaging too. For example, if someone needs only four pieces a day, we make packets accordingly. Hence, there is no need to defrost the entire quantity every day. And finally comes competitiveness. All our prices are extremely attractive and competitive considering the advantages one gets while buying from us. One thing we always guarantee and that is freshness. If someone has ordered for a particular variety and we do not get that one as per our quality standards, we call up the customer and say our inability to supply and we also give the reason for it. This policy of us has helped us to create a niche segment in this market.

Do you focus on individual household segment or you have institutional customers as well? In that case, what would percentage wise break-up?

At present, we are focussing primarily on individual households.

Going forward, do you have any plans to look beyond Kolkata and replicate the same model in other cities?

Yes, going ahead we wish to enter other geographies too. Our aim is to reach out to all sweet water fish eaters. Work has already started. At present, market study is going on. Logistics are being worked out too. We are going to announce our plans soon.