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March 20, 2013

Profile of Mystery Shopping Firm RedQuanta

From the Smart CEO:
Through its network of mystery shoppers, Mumbai-based RedQuanta measures the quality of service, compliance to regulation and gathers specific information about products and services of its client companies. The mystery consumer’s specific identity is not known to the establishment that is being evaluated. Mystery shoppers perform specific tasks such as purchasing a product, asking questions, registering complaints or behaving in a certain way and then provide detailed reports or feedback about their experiences.

...The company’s team strength has grown from eight last year to 25 at present. It services over 50 clients across 15 different industries like telecom, apparel and jewelry. It also offers online and telephone audits for e-commerce companies. The company works with venture capital and private equity firms to evaluate their potential investments or build more data on the companies they have already invested in.  It also performs competition audits.

In the next 12 months, RedQuanta aims to increase the mystery shopper network to one lakh shoppers. It has divided its clients into three categories – new economy companies, old economy companies and large business houses. It also wants to increase its client base across all these three categories and across different verticals like apparel, telecom, banking and finance. RedQuanta recently raised less than a million dollars in seed funding from India Quotient fund, Blume Ventures and India Venture partners and other angel investors.
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