If you want to know about the Marketing Strategies of Overcart then you are on the right page. We have also talked previously about The Marketing strategies of Amazon which is the largest e-commerce marketplace in the world. In this blog we are going to explain The Marketing Strategy of Overcart – That has been India’s leading e-commerce website that sells over-stock, unboxed, refurbished, and preowned products.
The objective is to help you gain knowledge about the Overcart e-commerce webpage and its story and expansion, also the attributes to be learned from Overcart
Marketing is an integral aspect of a company’s DNA that may make or break its success. As users all around the world migrate to the digital sphere, marketing has followed suit. If you’re interested in pursuing digital marketing, then check out our IIDE’s Free MasterClass on Digital Marketing 101, taught by our CEO and Founder, Karan Shah.
This article will go over our Overcart marketing strategy in detail. Let’s start by learning about the company’s past reports, target audience, and the mistakes made by Overcart.
About Overcart – Company Overview
Overcart was India’s first online e-commerce marketplace founded by Alex Souter and Saptarshi Nath in the year 2012, this was a marketplace especially for overstock, unboxed, refurbished, and preowned merchandise across several brands allowing customers to watch the progress of each of their items via the liquidation process. Users may explore the preowned goods inventory or sell their pre-owned items using the site.
The company assists businesses with the setup of their liquidation processes, offers price data for unboxed products, and liquidates via an exclusive marketplace. This is the safest location for you to buy secondary goods, thanks to a thorough quality control procedure, experienced product knowledge, and unmatched customer service enabling clients to track every single one of their items through the liquidation process.
In today’s world, a smartphone can be found in almost everyone’s hands. Being on the cutting edge with the latest smartphone is costly these days, therefore some choose the refurbished edition of their preferred model. Buying a refurbished smartphone from Overcart can help you save money and be environmentally beneficial. The bargains are enticing and well worth purchasing. This helps you save money.
However things began to change in November 2017, the company posted a notice declaring that it will only accept bulk orders. Following that, there was an increase in consumer complaints about not receiving the product as seen in the pictures, many of the products were found shoddy. The dissatisfied consumers and the overall low product quality have been termed as the reason for the startup shutdown.
|Area Served||Throughout India|
|Industry||E-commerce Refurbished Marketplace|
|Market Share/ Revenue||$3 Million|
|Vision||Market refurbished smartphones at low price|
|Tagline||Pre-owned and refurbished gadgets are affordable by everyone|
Marketing Strategy of Overcart
Now that you have gone through the introduction and a quick look about Overcart, let’s talk about the marketing strategies of Overcart and how their products are marketed
Segmentation, Targeting, and Positioning
In today’s world since smartphones are considered the most reliable device so consumers are ready to spend for a premium segment smartphone but as India has always been a price-sensitive market so Overcart market its products to the target audience of 17 to 40 years where consumers who are highly interested to buy premium segment smartphones or other gadgets as well at a low price
Overcart targets mostly refurbished and pre-owned products such as smartphones, laptops, shoes and other accessories mostly from premium brands. Back in 2012 when there was no marketplace for refurbished gadgets, Overcart stepped into the market for serving refurbished and unboxed smartphones, laptops and other accessories throughout India on their e-commerce website following positive feedback from customers, they tried to expand their business by bringing more products like shoes and other brands to their e-commerce webpage.
Overcart made its positioning by selling open-boxed and refurbished smartphones at a reasonable price and back in 2012 it was a great startup because people who want to own a premium segment smartphone or any other accessories from an authorized market and think it was overpriced to buy from the normal store could buy from Overcart.
Overcart didn’t conduct any marketing campaign. This Company has no history in the marketing campaign. Marketing campaigns yet marketing campaigns are really important as they help to raise brand recognition and bring in new consumers. They also establish a brand’s reputation, tell the target market about new goods and services, and engage customers. In other words, they are very important to every company’s success. And that is the reason the e-commerce marketplace is no longer there anymore
Social Media Marketing
Number of followers
Overcart is not active on social media, the post that was made recently by Overcart is 5 months before. As we can see from the table above, Overcart has maximum followers on Facebook (156597) followed by Linkedin (5295), Twitter (1494) and Instagram (1060) respectively.
Their posts are mostly based on promotional content and also about new product launches.
According to SEO rankings, a low number of keywords (under 500) is considered terrible, a high number of keywords (over 1000) is considered good, and a high number of keywords (10,000+) is considered exceptional.
As we can see that overcart.com has 0 Organic Keywords and 0 Organic Monthly Traffic, so it is considered to have the worst SEO Strategies and is not even discoverable to the consumers.
This Company has never collaborated with any Influencer as it is just an e-commerce marketplace that only sells unboxed and refurbished products from various existing brands. That’s the reason it could not gain any popularity among the audience.
Overcart is an e-commerce marketplace and has its webpage for buying products and has an e-commerce strategy but customers who want to buy from Overcart can only buy products directly in bulk as this company has only sold bulk orders since 2017 and now Customers cannot buy directly from their website and Overcart now have a bidding system. It is also not easy to find their e-commerce store.
Overcart has an app available for android devices only, which is not even functional as the services are discontinued and even the latest android version doesn’t let the app install because of incompatibility. Users can never find their app available in App Store and Play Store.
Content Marketing Strategies
Overcart is not active on Social Media now but in the past, it used to post content on social media like Facebook, Instagram and Twitter related to their upcoming products, offers available and also some awareness messages as well. They never posted their content in Newspapers and other journals. And now the company stopped posting content on Social Media.
This ends the elaborative marketing strategy of Overcart. Let us conclude our learning below from the marketing strategy of Overcart.
Conclusion – What’s Unique in Overcart’s Marketing?
Talking about the Marketing Strategy of Overcart, The Business Idea of Overcart was good but they were lagging in planning and organising Content Marketing strategies and also Influencer Marketing, it is also not doing well on social media and stopped posting content unlike its competitors Cashify and 2Gud are very active in Social Media, their SEO Strategy is also worst including its webpage which is no longer functional and makes the customers dissuade from their website and that’s the reason Overcart had never created a consumer base in the market as they have never implemented Digital Marketing.
In today’s world, Digital Marketing has undergone a significant transformation and because of the pandemic, internet usage has increased and online businesses have a significant growth which made businesses migrate to the digital platform. We observed in our Case Study that Overcart is falling behind its competitors due to a poor marketing plan, which is why businesses are searching for excellent digital marketers to help them win the race.
Companies are seeking highly competent digital marketers since digital marketing is a highly effective and fastest developing profession in the marketing segment. If you want to work for great companies in an intriguing sector, then check out IIDE’s 4 Month Digital Marketing Course to learn more and build your knowledge and skills.
Alternatively, you can enrol in one of our free online masterclasses led by IIDE’s CEO, Karan Shah, to gain insight into the field of digital marketing.
We hope this blog on the marketing strategy of Overcart has given you a good insight into the company’s marketing strategies.
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