Tag: Big Boy Toyz

Business, News

Over 65% of sales come from digital platforms in the post-pandemic era: Jatin Ahuja, Big Boy Toyz

Jul 30, 2021 by Rekha Nair 0 Comments #Big Boy Toyz, #Founder, #Jatin Ahuja

The Covid-19 pandemic has had a big impact on the automotive industry at large. While new car sales have seen an erratic graph over the past year, one segment that surged forward is the pre-owned car business. Moreover, a new push for digitization in the industry also contributed towards strong volumes for both new and pre-owned car businesses. In the pre-owned car space, Big Boy Toyz was the first to make that transition introducing an app and moving its inventory to an online space. The decision has paid off well for the company as it now receives about 65 percent of its sales from digital mediums.

Jatin Ahuja, Founder, Big Boy Toyz said, “If you would’ve asked me two years back, our 40 percent sales used to come from digital. But it has grown from 40 percent to 65 percent. With all the platforms put together. This is not just about digital, 65 percent of the customers don’t come to the showroom anymore to buy cars from us. They see the pictures, they see the car, they transfer the money, and we deliver the car to them.”

“It comprises digital with our physical experience over the years and the trust we’ve built over the years with the customer that they feel the need is not there. They’ve seen our quality, they’ve already dealt with us. So everything put together, we call it digital. Because someone not coming to the showroom and buying a car and that too a used car wherein every transaction is very unique,” he added further. The post lockdown phase also brought a spike in demand for used luxury cars. BBT deals in luxury cars of not more than 30,000 km and five years old. The company had a hard time keeping up with the supply during this period.

Ahuja said, “Lockdown 1.0 is among the craziest demand we’ve ever seen in my career. I haven’t seen this kind of demand after Lockdown 1.0. We did not have enough cars to supply. We have strengthened our procurement team by three times than what we were about one year back. Buying became the biggest challenge but sales weren’t the problem. We saw a 35-40 percent growth over the last year. We did not have enough cars otherwise we would’ve seen a 200-250 percent growth.”

BBT procures every vehicle after it has undergone 151 checkpoints. The company will repair what needs to be done before listing the same, while the team only picks cars that are non-accidental. The BBT app, meanwhile, allows customers to check the listed cars, a 360-degree video of the car, a virtual tour, service history, EMI calculator, comparison sheet, and the provision to submit documents online.

Ahuja also elaborated how the uber-luxury segment in the range of ₹ 8-10 crore has seen a massive surge in India since 2018. Cars from Rolls-Royce, Bentley, Lamborghini, Ferrari among other brands retail in this extremely niche space, and Ahuja says that over 50 such cars have been sold in the country in the last 2.5 years. At present, nearly 50 percent of demand in the pre-owned luxury car business comes from SUVs. With social distancing protocols here to stay for a while, Ahuja is now focusing on keeping operations phygital (physical + digital). He believes this to be the future of retail sales and aims to touch about five lakh people a day through multiple platforms over the next 12 months. In terms of active conversions, BBT anticipates about 3-4 car sales in a day and about 100 cars in a month.

Business World, News

BIG BOY TOYZ invests INR 15 Crores on enhanced customer experience and service

Apr 9, 2021 by Rekha Nair 0 Comments #Big Boy Toyz, #Founder and MD, #Jatin Ahuja

New Delhi: For those aspiring to get a piece of high-end luxury, here’s good news! Big Boy Toyz has touted a massive investment of Rs. 15 crores in augmenting customer experience and service through numerous means Post Covid-19. Founded in 2009, BBT generated a revenue of Rs. 250 crore in the fiscal year 2018, and now envisages five times the revenue with heightened demand for its own vehicle in the present scenario. The giant boasts a wide range of brands such as Lamborghini, Ferrari, Bentley, and Aston Martin, straddling a price range from Rs. 50 lakh to Rs. 10 crores. Showcasing luxury automobiles virtually is the first-ever move taken by Big Boy Toyz in the industry of pre-owned car dealerships.

The company has also recently launched its application on iOS and Android platforms to cater to customer needs more effectively. Buyers can have a 360-degree view of luxury cars, enjoying a virtual walkthrough of the physical showroom. The app offers various features like the calculation of EMIs and payment without any fuss. Besides this, the buyer can furthermore compare iconic from a boast of supercar collection. The app allows contactless sales through video calling. . “Almost 40% of cars sold, buyers don’t even visit our store for inspection” , said Jatin Ahuja, Founder and MD, Big Boy Toyz. The app is straightforward to navigate across various brands and models.

Sellers of pre-loved cars can also sell their car in 3 easy steps through the unique 29 minutes selling feature of the application with increased efficiency and effectiveness to respond. One can find comprehensive information about a particular car. BBT app is a perfect package answer to luxury car buyers and sellers. They leave no stone unturned to make the car delivery memorable for their clients.

With raised concern for hygiene post novel coronavirus, BBT cars are duly sanitized before delivery. They have a dedicated body shop for their customers only. Here comes a one-stop solution for your luxury. The body shop offers an assortment of services that include painting, repairing, tyres change, complete technical check up with special diagnosis tools, wheel alignment, and balancing, detailing exterior and interior, and complete car scanning servicing.

Buyers who are enormously propelled to acquire their own car of dreams, Big Boy Toyz will fulfil the impulse. As per Jatin Ahuja, “Car aficionados would rather buy used luxury cars over buying new ones as the cost substantially slashes down while performance remains top tier.”

The success of the industry behemoth Big Boy Toyz, a pre-owned luxury car vendor, echoes the tale of soaring ambitions among Indians to own a pie of luxury. Indian markets are democratized by high-end car markets, particularly in the pre-owned segment. At the end of “high-end” all that matters is “who-owned” rather than “pre-owned”. The car sold at BBT is not merely a product; it’s a big shot dream come true for someone.

India’s used car market is projected to cross $25 billion marks by 2023, and the industry will see a surge in demand for premium choices at the finest price. Also, factors like revisions in GST rates and the launch of BS-VI norms will be significant contributors to the pre-owned luxury car segment’s growth.

Business World, News

Big Boy Toyz achieved exponential growth in 2020

Dec 11, 2020 by Rekha Nair 0 Comments #Big Boy Toyz, #founder and managing director, #Jatin Ahuja

The used car segment of Indian automobile sector has witnessed a sharp turnaround despite the global crisis led by COVID-19. Consumer demand has grown considerably amidst the pandemic as more buyers are interested in buying personal vehicles instead of using public means of conveyance. According to a recent report by the Society of Indian Automobile Manufacturers, the pre-owned Indian automobile industry which accounts for over 18% of the market share recorded sales of around 4.4 million units in FY20. The new passenger vehicle sales in FY20 decreased considerably and registered around 2,775,679 units. The new automobile industry dipped below the 3 million sales unit mark for the first time ever since FY17.

Last year, the industry was valued at 180 crores and it was expected to grow at a CAGR of 15.12 per cent in the forecast period of 2020-2025. While the progress is slow, its been steady due to the recent events. Additionally, the demand from tier-2 and -3 cities for used luxury cars has given the industry a new perspective. As more buyers are becoming aspirational, the demand for pre-owned automobiles is expected to grow further which will in turn help the used car dealerships penetrate deeper into the non-metro cities of India.

The COVID-19 pandemic may have hit the automobile industry quite hard as businesses were brought to a grinding halt, workforce was displaced, and many were left with their purchasing power restricted. However, it proved to be a silver lining for the used luxury cars market. Factors such as depreciation and Bharat Stage VI norms also played an important role in changing the perception of several customers.

Big Boy Toyz, a renowned used luxury car dealership in India, is a perfect example of how having higher aspirations can lead to success. Jatin Ahuja, founder and managing director at Big Boy Toyz, has created a popular retail brand in the pre-owned car market by selling high-end luxury cars such as BMW, Audi, Lamborghini, and Range Rover and making dreams turn into reality for many Indians. It started with his passion for the four wheels and the business behind it. In 2009, he launched Big Boy Toyz, where pre-owned luxury cars could be refurbished and sold. Within its first year of operations, BBT made a turnover of Rs 6 crore and it kept increasing thereafter.

The company sold over 150 cars from April to September 2020. The price range of these cars was from 80 lakhs to 2 crores. Maximum sale during the said period happened via online transactions and cars were delivered to the customers as per Covid-19 norms. As per Jatin Ahuja, some of the most sold cars despite the lockdown were Mercedes S500 Maybach, GLS 350, Porsche 718 Boxster, BMW i8, Range Rover Sport, Lamborghini Huracan, and Bentley Continental GT Coupe.

Although the sales of Big Boy Toyz dropped down to around 30% during April 2020, the company saw considerable signs of recovery from May 2020. The business was revived and improved to 40-45% in May 2020 and further stabilized at 80% of the operations in June 2020.

The sales figures from April to September 2019 were comparatively lower than the current sales figures in 2020. Considering the number of cars Big Boy Toyz sold in the second quarter, the company is now expecting 20%-30% hike in sales during this festival season.

The brand has had an effective online presence even before the pandemic as about 70-75% of their sales would happen on that medium. With the global pandemic shifting customers from offline shopping mode to online, BBT decided to bring in a digital effect with their newly launched mobile application in the company’s name. Available for both iOS and Android devices, this application hosts a multitude of features such as to enhance the digital buying experience of its customers. It comes with options where users can book cars online, request for a 360-degree view of via photos and videos, buy BBT merchandise, access the secured payment gateway, and view a range of car comparisons. App also allows users to download wallpapers.

The car dealership has increased footfalls via virtual platforms and open virtual offices. In terms of logistics and finances, BBT has very sturdy plans for the upcoming year as they will be venturing into the eastern and western parts of India while eyeing on achieving the same profits as last year.

As customers from tier -2 and -3 cities are also transitioning towards the digital means, the automobile sector has a great potential in these cities. BBT has also started receiving about 30 – 35% enquiries from the Tier -2 and -3 territories. The brand is now planning to expand in many tier 2 and 3 markets in the coming months.