Today, with significant use of technology in charting behavioral styles, one might expect seamless connect between shopkeepers/retailers and their clients. Reality seems to be a piece different but. There are hardly any mechanisms for an offline store/business owner recognize what her/his client wishes. Chennai-based totally Anand Krushnan diagnosed this developing discordance around small businesses, whilst his father who himself is a small-commercial enterprise owner, pointed it out to him. Baffled, Anand reached out to his colleague, Manish Mehta on the way to cope with this hole that exists and hinders growth for small and medium groups.
Realising that that is a trouble which in all likelihood plagues thousands and thousands of companies in India, the duo set out to determined Exclusife in 2013, a customer management device for business proprietors to apprehend their clients higher and use it to enhance their increase.
For a business owner, it is tough to differentiate between new, occasional and common clients. Neither there are any analytics available which could provide the capability shopping for capacity of a consumer vs another. When it comes to customer retention, an offline retailer has no way of wooing the consumer lower back except for looking forward to them to go back at some point of the following keep sale.
Exclusife attempts to clear up this hassle by using introducing a platform for retailers and customers to connect to each other. Taking its name after the French word, ‘exclusif’ which implies exclusivity, the agency got down to create an ‘one of a kind’ club for SME shops across India who set themselves apart from others in terms of customer delight and retention.
How It Works
Exclusife acts like a sales acceleration utility for Indian retail SMEs. It lets in agencies to seize actual-time statistics about all their keep choices. It allows clients to shop time and money by using making smart buying choices and additionally by means of highlighting offers in neighborhood stores and boutique businesses.
From a commercial enterprise owner’s perspective, it helps in improving the consumer’s in-store enjoy. When a customer walks into a shop, the store has no previous understanding of the patron’s desire, neither can they invite the consumer lower back. That is in which Exclusife is making an attempt to alternate the sport.
After downloading the app, a customer can use it to accumulate and examine facts approximately all (each online and offline) store site visitors. The Exclusife app gives its services in nearly all the retail verticals, i.E., which include apparel, splendor products, electronics, shoes, furnishings, games and amusement items, food and health. Since a store can be privy to the statistics searched via client, he/she will use targeted messaging and promotions to attract the clients.
The cease intention is to growth income of the organizations and preserve purchaser loyalty. Exclusife can be taken into consideration as an effective patron relationship management (CRM) device for all SME retailers in India.
In 2013, a have a look at by way of market research firm Zinnov had said that India is prepared to end up the most important SME kingdom globally.
According to Manish, India is home to over 14 Mn SMEs in India. The market is poised to grow at a 15% CAGR. “That represents a marketplace opportunity inside the billions.”
Monetization And Traction
Exclusife charges a fixed subscription rate of approximately INR 3000 in step with month from every retailer-customer.
Since its inception, the Noida-based totally Exclusife has partnered with over 3000 shops and is present throughout over 25 cities in India. The startup claims to have a reach of over 85 lakh customers until date with its area workplaces in 16 towns and over 325 people operating for the enterprise throughout India. It plans to attain over a hundred thousand customers in the following few years.
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The employer has ambitious plans for worldwide expansions. Manish is of the opinion that south-east Asian international locations like Indonesia, Philippines, Malaysia and many others. Have acquainted retail patters as India. This makes them capacity markets for Exclusife.
That is not to mention, the worldwide market is with none competition. Indonesia-based totally Kudo is a startup that builds physical ecommerce kiosks across stores which accepts various kinds of payments. In Malaysia, Tapway, a Google analytics for physical stores, is attempting to bridge the distance between on line and offline retail by empowering brick-and-mortar shops.
According to a file posted in Live Mint in 2012, SMEs contribute as a minimum 35% to exports, at least 40% to business manufacturing, around 12% of the gross home product (GDP) and provide employment to about 60 Mn professional and unskilled people. Despite the promising numbers however, on the quit of the day, it is those offline players who endure the brunt whilst ecommerce gamers maneuver the device.
While Exclusife is making an attempt to bridge the distance between SMEs and their customers, the largest task that lies in front it is the fact that conventional commercial enterprise proprietors are nevertheless reluctant and often ignorant approximately the energy of era. But the fact remains that SMEs are waiting to connect with their customers in a more meaningful way. Exclusife has to proactively reach out to empower conventional business owners with generation and help small and medium business proprietors construct a long-lasting and fruitful courting with their customers.