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MyGate, a security and community management solution provider for gated communities, n Wednesday announced its foray into community omni-commerce business with the launch of ‘MyGate Exclusives’.
“The threat of Covid has brought about huge behavioural shifts among residents. These shifts have helped us realise the demand for commerce tailored to the gated community resident, and MyGate Exclusives is the first proposition to be born out of this realisation,” said Abhishek Kumar, COO and Co-founder, MyGate.
In an exclusive interaction with BusinessLine, Kumar said although people in gated communities buy products and services individually, they collectively represent a homogeneous resident base with similarities in consuming services such as pest control, cleaning services, vehicle management or services from carpenter, painter etc.
“We believe there will be a paradigm shift in communities where they will start to harness the collective power of buying. During the Covid-19 lockdown, we saw this started to happen,” Kumar said.
MyGate is curating products and services to the residents of housing societies across multiple categories centred around home, such as Home Solutions, Home Essentials, Health @ Home and Kids.
Currently, over 80 emerging and national brands, including grocerry delivery firm Supr Daily and RESONATE (for Wi-Fi power back-up), have been on-boarded. MyGate plans to on-board more than 200 brands by March 2021.
“We believe brands and companies are also looking to target the category of population residing in gated communities. MyGate will enable brands to have a focussed target segment through this platform,” Kumar said, adding that “residents will derive exclusive offers curated for them.”
MyGate will have three modes of revenue under the community omni-commerce segment. First, it will receive a cut on every purchase made by the residents. Second, it will charge a listing fee on brands looking to build awareness. The last mode will be a combination of the above two.
“The platform will not allow advertising. MyGate Exclusives will be non-intrusive. It is available under a separate tab on the MyGate app and residents who wish to purchase goods or services listed can use it. We will not share any data about our residents to any company or brand,” Kumar said.
“In 12-15 months, we are targeting a revenue of ₹2 crore per month under the community omni-commerce vertical.”