Now Delhites Get to Negotiate Discounts with Restaurants With New App Pocketin
Delhi, India | Red Newswire | Nov 24, 2015 Last Updated at 04:35 PM IST.
With more and more Indians adopting the culture of dining out, a new app Pocketin could really help. It has been observed that youth, especially students like to dine out at least 4-5 times a month. However, the tax that has to be paid along with the bill makes it hard to enjoy a meal out. Discounts can provide a solution for this. But how someone can hunt for suitable discounts just sitting at home? This is where Pocketin comes in.
Pocketin is India’s first app that lets you bargain discounts with restaurant owners.
Anirudh, Pocketin COO says, “The main aim is to give people a platform where they call the shots as far as discounts are concerned.”
Three engineering grads ditched their jobs to start this service and developed this app. Kshitij, CEO left Deliotte and now manages Pocketin’s backend operations. Anirudh left Practo and now handles sales and marketing. The technical aspects are managed by Rahul, who left amazon.
the group worked for 2 months before finally launching this app on august 10th this year. It’s been around 3 and a half months and the app already has 5,000 downloads and is now tied up with 105 restaurants.
The app searches for restaurants based on 4 factors – the budget of the user, number of people with him, time and date of visit. Anirudh explains, “Once you key in these information, we show you a list of restaurants from which you can choose the one you would like to place a bid on. Additionally, you can also search for an area and then find a particular restaurant or place bids for multiple restaurants.” While placing the bid, you also get to see what is the minimum bid that the restaurant accepts. He says, “Bids equal the percentage of discount that would be applied to your net bill, if accepted. It’s all about instant gratification.”
Once the bid is placed, the restaurant is notified of the offer. Then either the restaurant accepts it or gives you a counter offer. The app also lets you compare deals among multiple restaurants that you place bid with.
By now, Pocketin has made 635 transactions and Rs. 12 lakh of GMV.
The maximum bid that has been made is 35% made by 86 transactions.
but what makes it different from other food discount apps likes Dineout or Coupondunia? Anirudh says, “Apart from the fact that the user can bid for the discount they want and are not given an already decided upon discount, as is the case with Coupondunia or Dineout, they also do not have to present any coupon or voucher once their reservation is done. They simply need to go to the restaurant and we assure that the servers will know about you and your agreed upon discount. We also provide all of our services in real-time and that I think is the biggest differentiator.”
He says in this process the gain is made both by the customer and the restaurant. “Through our services, they get in a lot more customers and in most cases retain them too,” states Anirudh.
The app is free for users but the restaurants are charged based up on the number of customers they get. Anirudh says, “We’ve made a profit in every transaction till now.”
When asked about their future plans, the team says they are soon going to close first funding and will expand it to the party and package deals, events. The team is also looking forward to tie up with ToneTag to offer cashless payments for which you won’t require internet too!