Mumbai-based Priya Harjai had been a web clothier for 12 years, before she selected to cease her job for motherhood. But sitting idle at home wasn’t her element. Being into design and the arts, she chose to start her personal boutique, Olive through Design – an corporation that makes extremely good jewellery packing containers and present packing containers. Despite having a top notch line of products, her offline commercial enterprise couldn’t reach too many customers. A robust on-line presence was possibly lacking.
But starting an ecommerce platform isn’t clearly a cakewalk. You have to buy a website, get someone to layout your website (if you aren’t a techie), set up for a payment gateway, determine in your logistics and what now not! Be it because of technical know-how or economic restraints or unwillingness, a lot of us emerge as dropping the idea of having our own enterprise mission. Priya additionally faced the equal catch 22 situation.
In December 2014, 3 Paypal veterans (and potential Paypal Mafia members too!)—Yen ?Ti ?Lim, Anurag Avula and Kris Chen—recognized this disaster and determined to act upon it. Anurag says, “During our stint at Paypal, we met numerous small and medium enterprise proprietors, and aspiring entrepreneurs who wanted to make bigger or begin their business through coming online but didn’t exactly recognize the way to move about it.”
Using their combined experience of over 40 years in the bills industry, the trio released Shopmatic, in Singapore. The recognition turned into simple: to assist marketers log on.
Priya has been using Shopmatic’s platform considering that October 2015 and she mentions that there has been no looking lower back for the reason that then.
What is Shopmatic?
Shopmatic claims to be the simplest agency to allow the entire ecosystem of selling on line, for his or her customers. From growing an internet store, to listing one on marketplaces and social networks, to giving insights on a way to promote online, and to help fix the payment and logistics, they assist a user manage the entirety that is required to help a business develop.
One simply needs to have a decent aesthetic sense and enterprise acumen to develop and run their personal ecommerce store the usage of Shopmatic’s SaaS platform.
CEO of Shopmatic Group, Anurag Avula, says, “India is domestic to greater than fifty one Mn small and medium groups. Our platform can doubtlessly help some of these traders log on and grow their companies at a countrywide as well as worldwide degree.”
Getting your commercial enterprise online
Once you sign in on Shopmatic, you can actually begin the usage of its DIY platform to pick from a fixed of layout templates which can be customised via industry segments inclusive of fashion, sports activities, toys, and urban dwelling. Then you could start building your store through in reality selecting unique layout blocks to complete every web site. Once you design and customize your pages and content material, the Shopmatic platform will make certain that your photos and information are displayed continually across all devices and channels. You might be given the choice of choosing a domain name. That might be observed by using the allowing of charge and shipping logistics. Anurag asserts that every one those can be finished in as less as forty five mins.
Shopmatic manages all the backend integration so customers can get their on line storefront up and running in the handiest and most green way. Shopmatic will even provide the customers with integrated analytics to be able to supply precious insights to assist traders grow their corporations. Accessible thru a centralised dashboard, you can actually without problems reveal the volume of sales on a each day, weekly, or month-to-month foundation, and determine one’s enterprise increase. The platform also has its Business Intelligence gear to become aware of customer or product segments which might be churning the maximum revenue for a commercial enterprise. With these insights, possible tweak her/his stock and pricing method correctly to similarly enhance income.
The startup additionally facilitates traders show off their products and pictures on a couple of social channels, like Facebook, Twitter, Instagram, and Pinterest as well as marketplaces, like Amazon and Ebay.
Users can view the popularity of their cutting-edge stock and inventory stages through the dashboard. This may be customised according to their choice, and that too across multiple channels, marketplaces, and social systems.
A merchant can select from a range of payment alternatives which can be most applicable for his or her focused consumer segments and markets. These include cash-on-delivery, financial institution switch, credit score card, and worldwide bills. In January 2016, Shopmatic signed a address online bills giant Paypal to permit its traders to expand their worldwide sales. The flow also marked PayPal’s first tie-up with an Indian companion. The startup has also tied up with Citrus Pay.
On the logistics front, Shopmatic has strategic partnerships with nearby and global logistics gamers, like Delhivery. So you can select the network shipping coverage and pricing choice which might be most applicable on your centered target audience and market.
The nice element is that Shopmatic promises to manual a consumer throughout the complete technique. So, even if a person isn’t confident enough, she/he can appropriately take the plunge.
Currently, the Shopmatic platform is offering only Retail mode however Business Services, Restaurant, Travel, and Hospitality modes are in the offing. In the retail mode, a consumer can sell stuff they make (or source), like hand-made jewellery, paintings, and many others. Whereas in the commercial enterprise offerings (coming up next) mode, users, like teachers, architects, actuaries, etc., can offer their distinctive services.
The month-to-month charge for the usage of Shopmatic’s software program-as-a-service (SaaS) platform is $20 (approx. INR 1370), and half-every year price is $a hundred and twenty (INR 8074 approx). Both plans come with a month lengthy loose trial period. The yearly plan comes for $240 (INR sixteen,143 approx), along side three month’s free utilization. And, in all three cases Shopmatic gives loose transport credit score to the track of INR 1000. The capabilities remain the equal in all 3 plans and Shopmatic claims that there may be no hidden price across all features and all plans.
Competition and Expansion
Although Shopmatic can be stated to have the primary-mover gain in this section, they're not the simplest ecommerce enablers presently working in India. There are corporations, like Martjack, and Buildabazaar, that are presenting similar services in bits and portions. And then there are give up-to-give up ecommerce enablers like Zepo and KartRocket (recently got funded), that are at once competing with Shopmatic.
In fact, Zepo has long gone steps ahead by means of providing their very own logistics solution (ZePost) and offering traders with personal cellular apps (on iOS and Android) for a higher commercial enterprise experience. But, Shopmatic still has the higher hand with their affordable one-rate coverage.
The organization released its Indian operations in October 2015, and has offices in Bangalore and Gurgaon. Anurag stated that Shopmatic may be launched in Singapore and Hong Kong in a month’s time.
Traction and Funding
Currently, there are greater than 2500 users using the platform.
In December 2015, Shopmatic had tied up with Confederation of All India Traders (CAIT) to help its merchant members digitalise their offline organizations. CAIT has around 6 crore traders across forty,000 affiliates. Shopmatic will assist interested contributors in constructing their internet site in addition to provide stop-to-quit facility to permit them sell on CAIT’s ecommerce platform eLala.Biz.
Shopmatic is a bootstrapped mission but Anurag says, “We are in talks with a few VCs; in the mean time we have a sustainable funding from within.”
Given the functions and the extraordinarily aggressive pricing of Shopmatic, the concept has quite a few capability, but it stays to be visible how a ways and fast Shopmatic can expand its attain in India. Some of the motives at the back of this apprehension are probably past Shopmatic’s scope. According to the World Bank’s 2016 Ease of Doing Business Index, India ranks a paltry a hundred thirty (out of 189 economies). Although the government has long past gung-ho about the present startup scenario in India, the lack of implementation of the Goods and Services Tax (GST), as an example, will preserve to stifle the emergence of startups, particularly ecommerce projects. Having said that, offerings like Shopmatic are doing their fine to cut down the infernal crimson tape on the person’s (study: service provider) component.
A 2015 Morgan Stanley record expected the Indian ecommerce market to grow from $11 billion in 2013, to $137 billion by way of 2020. Whereas, a 2015 BCG file projected the Indian retail market to the touch $1 trillion by way of 2020. When you add those figures to the rising Internet literacy and an growing willingness to begin new enterprise, India clearly becomes a market in which Shopmatic can do magic. And, with a number of the ecommerce enablers gaining traction and raising budget in 2016, it seems like this section will see a whole lot of action this 12 months.