Are you an incorrigible bibliophile willing to walk miles to get a copy of that elusive out-of-print classic? Or are you one of those who love books but are unwilling to spend a fortune in some swanky upmarket bookstore? Whichever category you might fall into, Firstandsecond, which was launched in June 2000, would probably suit your purpose. They provide any (well, almost...) book available anywhere in the world (courtesy tie-ups with 10,000+ publishers), and for the more popular books they offer you lucrative discounts. No wonder, Firstandsecond, with 1,20,000 shoppers till date and more than 40 percent repeat customers has earned the proud sobriquet of being the “Amazon of India.”

Firstandsecond, privately held by Duncan & Macneill from the UK, has grossed revenues of Rs 2.5 crore in 2000-01 and Rs 6 crore in 2001-02 with the last quarter witnessing a cash flow of Rs 1.75 crore. CEO G B S Bindra boldly predicts a revenue of Rs 12.5 crore by the next fiscal. When you compare that to the fact that even a physical shop chain like Crossword earns Rs 15 crore, the question that comes to mind is what drives the site? Bindra attempts to offer an answer. “From the beginning, our business model was based on real-world commerce and offered distinct value to the consumer convenience, depth of selection and right prices. We have quickly taken up a position of being “one stop for all and every kind of books.”

These are the very points that enabled Firstandsecond to thrive, despite competition from other B2C sites like Fabmart and Rediff. The site offers a million titles as against few thousand by the competitors, and in most cases when a book hits the market in the US, it hits Firstandsecond on the same day. The other plus for Firstandsecond has been the type of books they offer, including rare scientific, technical and medical journals, which have a huge market in institutes like the IITs and other scientific establishments. Since these books are often almost impossible to procure otherwise, institutional sales contribute to nearly 30 percent of Firstandsecond’s total revenue.

One critical factor in Firstandsecond’s success has been the launch of an offline model in perfect synergy with its online version. Bindra offers an explanation behind this shift. “The Internet world is not growing at the rate at which we presumed it would. The high rate of PC penetration when we set up firstandsecond.com two years ago has slowed down. Unlike, Amazon.com that could not get into the retail business because Barnes & Noble exists all over the US, we do have the opportunity to be a part of the retail business.”

Firstandsecond has recently opened its first two retail stores at Connaught Place in New Delhi and DLF Gurgaon, and plans to add another 50 stores in the next 18 months. The site has services like Club One, which offers discounts and benefits at Firstandsecond stores and at firstandsecond.com. For an annual membership fee of Rs 199, participating customers enjoy guaranteed 45 percent or more discounts on all books featured at Club One. Club One targets bargain hunters, book lovers and those who own libraries of their own.