Going omnichannel is the need of an hour. In fact, modern trade world has started recognising it as the ‘Golden’ strategy to scale up rapidly. Today’s retail has gone beyond physical shops, and high end gadgets including phones, tablets, digital kiosks and social media platforms have emerged as new points of sales.
In modern retail scenario the ‘consumer’ is present everywhere. Hence, it has become mandatory for brands /retailers to have foolproof omnichannel strategy which covers the consumer from beginning to end.
In ever evolving online world, it is becoming harder and harder to draft differentiating strategies/ tactics as far as omnichannel strategy is concerned. Here the role of tech provider becomes extremely crucial which can help the brand in winning omnichannel race with right set of tools and technologies.
The market is flooded with umpteenth number of service providers, but finding a credible resource is extremely excruciating task. ShopX is helping brands to pivot into new channels with state of the art tech solutions to modern traders as well as SMEs.
How is ShopX helping retailers and ecommerce companies in going omnichannel?
Bangalore based ShopX is a tech solution provider in business-to-business space. This fastest growing digital platform helps in connecting retailers and small traders and FMCG brands by using cutting edge technologies.
Apart from modern trade, ShopX is also helping Micro, Small and Medium Enterprises (SME) through its innovative solutions. As per the industry data, SME segment is set to grow 2.5 times and is expected to touch Rs 45 lakh crore by 2020.
So far the company has successfully empowered more than 45,000 traders across 280 towns and expanding rapidly. So far, the company has raised about US $50 million from various investors including Hong Kong-based Fung Holdings.
Redefining digital commerce
The company feels that majority of small town dwellers still prefer to shop at nearby retail shop generating homogenous scope for ecommerce companies to tap this consumer base. As per the company data, the share of organised retail stands at hardly 10 percent, whereas overall retail consumption is around $650 Billion. Despite this large market opportunity, the power of small town retailers is limited; primarily due to lack of technology support in fulfilling end to end operations. As per the company survey there is one physical store to cater 100 customers in small town.
ShopX was launched with a mission to redefine the rules of digital commerce. The company has initiated ‘Smart Technology’, a retail network management app which manages day-to-day transactions between all the members in the retail network. It monitors real-time money transaction, order performance, and first to last mile logistic management. Its prepaid model allows retailers to deposit cash in a wallet.
Tailor made services
Incepted in 2015, ShopX was jointly founded by Amit Sharma and Apoorva Jois who were earlier associated with Go Untucked, a startup in the fashion apparel segment. Though this venture he acquired deep understanding of the challenges of small retailers. His expertise allowed him to create solutions which help small traders in achieving commercial gains alike to supermarket without much in real estate and stock procurement.
The company helps brands in increasing market share with the help of its robust distribution network and drive incremental sale of products. Also, its RETAILX feature allows brand to launch new products/ new brands with atmost ease. Also it provides deep secondary and tertiary data on sales which helps retailers and brands in decision making. Also, SHOPX distributors facilitate ‘digital offline’ shopping to kirana stores and mom-and-pop stores in every corner of India.
As per the data available on company website, in 2017, ShopX archives the GMV of 2.7 Cr in one day. The start-up has big names in its client portfolio including Puma and many more.