The digital world has everything but very few have authentic things and the rarest have the authentic price. Folk Bazar is an online store with a vast inventory of Buddhist & Tibetan items that serves both cultural and ritual needs. Commonly used to grace your surroundings and spread positivity, products are mainly manufactured in Kalimpong its headquarters, at the Himalayan foothills, and are an excellent choice for gifting purposes.
It was founded in the year 2020 the same year when most of us found ourselves working from home due to the Covid-19 pandemic. This opened an eye for a traditional market that was underrated. Hence through FolkBazar, a duo of 23-year-olds from North Bengal. Kaushal who is a graduate from VIT, Vellore (CSE), and Divyaang has graduated from DTU (ECE) are simply trying to digitize a largely untouched segment. FolkBazar is a platform delivering rituals to the remotest corners of our country enabling them with the idea of e-commerce. Providing high-quality, authentic products so their customers can focus on their dharma practices and they take care of the rest with various products such as Statues, Incense, Prayer Flags, Khadags, Wooden Tables, Butter Lamps, Offering Bowls, Malas, Prayer Books, Traditional Home decor and many more on their website.
The sector is mainly offline. There are a few sites but the authenticity is missing. Prices are very high if the products are available. FolkBazar’s target audience loves COD which is hard to find everywhere.
They have the best quality products, prices are below/ at par with the offline market. They try to provide COD at all serviceable pin codes by their courier partners. And already have a collection of 500+ products and expanding more.
Their target audience is mainly Buddhists, Tibetans, Lamas, people who follow Tibetan Buddhism. The audience is mainly concentrated in Jammu & Kashmir, Himachal Pradesh, Sikkim, Arunachal Pradesh, and anyone who has an interest in Tibetan culture or the ones who is finding to gracing the surroundings and spreading positivity. Till now they have delivered orders to over 2000 households with a healthy NPS of 49. As most of their customers are 1st time online shoppers and they recently completed 1 year in operations.
Currently bootstrapped for another year or so. FolkBazar believes in being frugal and finding PMF at all stages. To date, Company had clocked revenue over 30 lakhs INR and 24 lakhs net revenue. and growing 15% MoM. 90% of their orders are COD. TAM is respectable and are working on the market size. With no such serious competition but few startups launching monthly out of NE. Understanding requirements and solving them is what’s its priority. Currently, they’re looking to grow their community.