Hyperlocal marketplace app Zopper is planning to be a multi-platform ecommerce company. It plans for a website launch, as it will help the company increase reach and conversion.
Zopper Co-Founder and CEO Neeraj Jain said, “So far, we have seen approximately three million app downloads. We also have an m-site, which brings in thousands of visitors every day.”
Jain calls Zopper as a very differentiated and inclusive ecommerce model, which enables thousands of local retailers to participate in the online commerce boom in India. “The existing ecommerce models are fighting the current retail ecosystem by creating a parallel system (either buy directly from brands or big distributors and sell to customers directly cutting the small retailers), whereas, the Zopper model is making the retail ecosystem stronger by making them, their inventory and prices visible to customers online,” he said, adding, “It’s essentially a Search Online and Purchase Online or Offline model.”
Zopper, which currently enjoys over 15,000 merchants on its retailer app, aims to achieve over 25,000 by the end of this year. “Our idea is to bring the traffic and business to local retailers by making them discoverable and visible during the search and buying phase of the consumer journey,” Jain said.
The ecommerce firm is present in 28 cities, and plans to expand to 50 cities by the end of this year. As far as downloads are concerned, Delhi has the maximum downloads, followed by Bengaluru, Hyderabad and Mumbai. “These are also our four biggest markets in terms of retailer partnerships and revenue mix,” he said.
Talking about turnover, Jain said, “We have crossed $100 million GMV (Gross Merchandise Volume) clocking revenue of $2 million. By the end of this fiscal, we expect the GMV to reach $250 million, and our revenue would be in the range of 2.5-3% of GMV.” Zopper has earned a gross profit of $27,000 in 2015-16. “We are already profitable at the gross level, and aim to be fully profitable by 2016-17,” he said.
