Tuesday, 31st July, 2018: A guest speaker session was held on Saturday, 28th July 2018 in the Digital Entrepreneurship class conducted by Dr Shoaib Ul Haq at KSBL. The Co-Founder and CEO of Hum Mart Mr Malik Faisal Qayyum shared his insights on the topic of Digital Disruption in the light of his vast experience in e-commerce industry.
While sharing his overall journey in the e-commerce market, Mr Faisal elaborated that at Hum Mart customers are prioritized and the team has meticulously designed customer’s journey on the portal, to offer them a hassle-free online shopping experience.
From the easy to use website, competitive prices and assortments, timely delivery to the vigorous customer service and high quality warehouse, everything is well organized to cater customers with best services. He further emphasized that in the digital world only those organizations will thrive that are truly customer centric.
Talking about the grocery market in Pakistan, Mr. Faisal informed the students that estimated size of grocery market is close to $36 billion. Moreover the online market potential is one percent which translates into an e-grocery market of $360 million. He said that currently online grocery market is close to 25 million dollars, hence more than 90 percent of the potential is still up for grabs.
HumMart aims to evolve the grocery service industry in Pakistan and it aims to target people who lead a busy lifestyle to change their consumption patterns from the traditional method of grocery procurement to a more advanced online mode. “We will ensure a convenient shopping experience for our customers, so that they don’t spend their valuable time somewhere else, explained Mr. Faisal
Mr. Faisal also talked about the Blue ocean strategy and the need for innovation in order to disrupt the existing business models. He said that with 56 million 3G/4G subscribers the prospects for digital disruption are huge in the Pakistani market. He explained the concept of pivot, and how HumMart pivoted its strategy over time. He also informed the students about challenge of attracting top talent in a startup.
In the following questions and answers session students asked him regarding his journey in establishing Hum Mart and its development prospects within the country. He shared that entrepreneurship has opened successful avenues in Pakistan and his journey as an entrepreneur has been absolutely fulfilling. He further added that e-commerce has a great potential in Pakistan. The event concluded with Dr Shoaib Ul Haq presenting Mr Malik Faisal Qayyum with a memento and thanking him for his engaging session.