Comments
E-commerce platform Shopsy recorded 16 million transacting users in Q1 2023. The platform witnessed an uptick of 3X growth in units, customers and sellers in the last year, with over 175 million app downloads.
To keep up with the growing demand, it has expanded its last-mile delivery to350 new pin codes in the country across tier-2 and tier-3 regions, including Cachar, Ghazipur, Hamirpur, Pratapgarh and Una, among others. Many new customers commencing their e-commerce journey with Shopsy are female shoppers aged 26–45 years, homemakers from tier-2 and tier-3+ cities.
Currently, it gets nearly 70 per cent of its customers from tier-2 and tier-3 regionsand contributes over 40 per cent of its first-time customers to the overall Flipkart group. The traffic from T2+ regions is mainly driven by the youth, the company said in a press release.
“We are delighted to see the strong growth and heightened participation of customers across the country. Our platform is designed to provide value for budget-seeking customers, combined with an extensive selection and easy accessibility across all serviceable pin codes of India,” said Kapil Thirani, Head of Shopsy, Flipkart.
Hyper-value positioning
Over 60 per cent of the platform’s product portfolio is below the price point of ₹200. Its hyper-value positioning helps customers seamlessly transition from an offline shopping experience to a virtual one where they can access an expansive product catalogue to fulfill their nuanced needs.
Currently, the platform provides 150 millionproducts spanning more than 800 categories for customers across India. According to the e-comm player, men’s wristwatches have emerged as the fastest-growing product, with their demand growing by over 75X this quarter. Additionally, jumpsuits, trimmers, and mobile covers clocked over3X growth individually.
“E-commerce is a boon for budding entrepreneurs as it involves minimal investment and allows flexibility of hours. I started my business in men’s fashion after having my first child. Despite being able to maintain a work-life balance, it has been an incredible journey for our business on Shopsy. In the coming years, I want to scale my business to new heights and become a role model for others,” said Ruchika Singhal, Owner of Paryag Hosiery based in Delhi and a Shopsy seller.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.