India is one of the largest consumer markets in the world today and the Beauty & Wellness industry itself holds an estimated value of $4.8 Billion with about 2.5 million accessible users per day! Etching this number in mind, Prasanjeet Roy, CEO- Fabogo embarked on his entrepreneurial journey with Mohammad Ali Akmal in 2015.
Prasanjeet, in today’s date, has managed to breathe life into a concept that was inconceivable a few years back. While pondering upon what inspired him to incept Fabogo, Prasanjeet reminisces about his friend who he was helping during that time! Procuring immense inspiration from his friend’s work and the ease with which he developed a complicated product single-handedly, dazzled him and stirred an eagerness to fashion something discrete, a product that would make consumers’ lives easy and hassle-free!
While unobtrusively comparing the glam-tech market with the food-tech industry, Prasanjeet continues to proclaim that one of the biggest reasons for the success of food tech is the number of times a customer thinks of food, which comes down to an average of 3 times a day. In comparison with this data, on the other hand, it was deduced that people think of looking good almost every minute of every day.
Despite UAE being the most Internet penetrated region, Prasanjeet discerned that people hardly made use of online bookings for beauty and wellness services. In fact the online presence that this industry had was almost negligible (almost 2%). That was when he grabbed the essence of the problem and without any further delay he decided to jump right at it.
Fabogo’s Subsequent Expedition
Fabogo has not just evolved over the years since its commencement, but it has successfully transformed into a platform that hosts more than 10,000 beauty salons, spas and fitness centers, proliferated in the cities of Dubai, Pune and Mumbai. Based out of Dubai, Fabogo effortlessly renders customers’ and patrons’ lives easier by providing a holistic approach to visiting salons, booking appointments etc. Fabogo aims to be the world’s leading engagement platform for the personal grooming industry, working painstakingly towards bringing salon & spa owners and their target market segment closer to each other and providing them with appropriate tools to actively engage with each other.
Fabogo at its core, is unidirectionally aimed at helping users stay beautiful by enabling them to search, explore and discover beauty services at beauty salons and spas in their vicinity. The platform helps users
- Discover a perfect venue based on needs, location and reviews
- Avail special offers, deals and promotions on venues
- Look up the salon rate card and read testimonials before visiting the venue
Within a short span of time, Fabogo has achieved heights relatively more remarkable than its contemporaries and has mastered exceedingly formidable circumstances with great precision and care. The present day scenario views Fabogo as the richest and the most comprehensive database for the Beauty & Wellness industry. With over 3,00,000+ monthly users visiting the website, Fabogo continues to unfurl its reach and accelerate its growth rate, extensively!
With its recent application launch, Fabogo has become a full-fledged entity where a user on Fabogo app, one can directly book appointments, make payments, explore services, packages and more! The brand new mobile application’s (android аnd iOS) primary focus is on being the only platform that assists customers in deciding which salon or spa to avail their beauty treatments from, based on their needs, budget, location and other factors. A user can BUY-BOOK-REDEEM the beauty services through this application, in addition, is going to enable spa and beauty salon owners leverage the benefits of technology in thrivingly managing and scaling their businesses. In Prasanjeet’s words, the launch of the app is going to make the game easier, convenient and particularly exhilarating for the people! The app is GPS savvy, so you are able to locate the closest and the best beauty treatments in your proximity and are also able to curate a personalized list of your favourite venues, using the “Shortlist” feature.
Fabogo’s Impact As An Aggregator
What essentially worked out in favour of Fabogo was the product and the technical agility. Fabogo’s feet-on-the-street model sources data and conducts professional photo shoots for each venue, which is hardly the case with its competitors, who make use of crowdsourced data or scrape it off online websites. From customized content, photographs to the business model itself, Fabogo has carved its own niche in the realm of beauty and wellness. This will impact the Beauty and Wellness industry in a manner that it will let the consumer/customer decide which beauty/wellness service they would like to avail based on user recommendation. Most of the customers’ decisions are built on factors like budget, stylist recommendation, community recommendation- and that is where Fabogo steps in. Its product philosophy revolves around the 4 pleasures that most users want to feel – a) Feel Beautiful b) Feel Desired c) Be pampered d) Be relaxed
Growth and Future of the Beauty Industry
With a society modernising at a quick pace, beauty industry across the globe has seen a rise in popularity. A fairly recent implementation of demonetization has played an influential part in the picture by creating uncompromisingly high demands for beauty industry to spread online. The upgrade has benefited the industry by connecting them to a substantial consumer base which is readily open to experimentation of new products and ideas. The beauty industry currently holds a market value of Rs. 61534 crores which is expected to grow with the current GST amendment in the tax system of the country. The upcoming years advocate progressive growth for the beauty sector. An increase in the number of contemporary beauty brands establishing themselves in the Indian market to explore the latent potential in the consumer base holds witness the start of a revolutionary era.