[FW Radar] Oyst makes one-click shopping easy for e-merchants and e-shoppers
Quentin Vigneau was the intern in Julien Foussard’s former entrepreneurial adventure. They embarked on the entrepreneurial adventure with Oyst, which simplifies the online purchasing process for e-merchants and e-buyers.
More details with Quentin Vigneau and Julien Foussard, co-founders of Oyst:
FrenchWeb: What needs does your service meet?
Today you can order a 1-Click taxi with Uber, buy 1-Click music with iTunes and even find 1-Click love with Tinder. On the other hand, buying a simple white T-shirt is 8 steps: add to the basket, validate the basket, create an account, a password, choose its delivery … In short, e-commerce is completely disconnected from the standards of simplicity to which are regular users.
The result? An online conversion rate of 2.5% compared to 55% in physical commerce. The traditional buying journey is a pain for both buyers and merchants.
What is your value proposition?
Oyst allows you to buy in 1-Click without entering a login, password or any information, from any page of a merchant site: home, catalog page, product page, cart page, account creation page, etc.
By offering this new way of buying to their users, our partner merchant sites multiply their conversion rate up to x2 on desktop and x5 on mobile.
Who are the users of your solutions?
Our 1-Click shopping solution is aimed at all merchant sites who want to improve the shopping experience on their site and increase their conversion rate.
What is your development plan?
After two years of R&D, we launched the marketing of our product barely 6 months ago. Today we are present on more than 500 partner sites, mainly small and mid-market. We are only on the French market and we want to launch very quickly internationally in the UK and the US.
On the product side, our 1-Click purchase button is now integrated into all the pages of a site. Very soon, our partner merchants will be able to insert our magic button on all their advertising media: display campaign, Facebook, Instagram, Pinterest, etc.
What are your challenges?
Like many startups, one of the biggest challenges for us is recruitment: how to find the right people to support our growth and start our international launch.
Who are your competitors?
We have no direct competitor. We are often compared to Paypal, ApplePay or Amazon Pay. But Oyst is a 1-Click shopping solution, not just a 1-Click payment. Online payment is just one step in the 8 stages of the purchasing journey. Oyst simplifies the entire buying journey.
Who is the entrepreneur who inspires you?
Steve Jobs for his obsession with simplicity.
The 5 applications that are essential for you and why:
Whatsapp to manage rushes
Slack to chat with teams
Trello to get organized
Linkedin for all the business opportunities it offers
The 5 tech events you absolutely must attend and why:
Viva Technology for all the innovations presented there
Monaco 1to1, a must-see event for e-commerce in France
The Retail’s Big Show organized by the NRF to keep abreast of all retail trends
A start-up for us to discover?
TacoTax which simplifies the administrative hell of the tax declaration
- Founders: Julien Foussard and Quentin Vigneau
- Creation date : January 2016
- Fundraising : Not yet. For the moment we are financed to the tune of 10 million in equity.
- Seat : Today, the whole team is in Paris, even if we all dream of going very quickly to the USA.