ShopX: Bringing online and offline closer
“Ecommerce has become elitist commerce as most of the big names in the industry are currently catering to the same 30-40 million population,” said Amit Sharma, CEO and Co-founder of ShopX.
With focus on improving digital access, Bengauru-based ShopX offers an ecommerce platform for offline retailers to list their products, services and daily deals. Sharma said, “It took us nine months to establish the product-market fit. We ran a test phase with 1,000 retailers across 10 cities, before launching the app.” Currently, the platform hosts 40,000 small retailers across 20 towns, and is catering to a consumer base of 10 lakh customers.
According to Sharma, India already has the infrastructure of over half-a-million retailers, who can become the point of contact for payments and delivery for ecommerce-based transactions. In terms of discounted merchandise value, the company has clocked Rs 10 crore in December 2016.
The company plans to onboard one lakh retailers in 2017, and introduce digital payments on its app. The Nandan Nilekani-funded startup asserts on “business fundamentals first”, and, “What we are doing is complementary to offline. We are supplementing, not disrupting their distribution,” said Sharma.