Flipkart’s Shopsy targets 20X growth ahead of festive season
Manjil Das, INN/Chennai
Flipkart’s Shopsy announced the opening of a zero-commission marketplace on Tuesday, ahead of the upcoming festive season.
E-commerce will flourish in tier-II cities and villages that haven’t experienced it before.
Currently, 70% of Flipkart’s consumers are from tier II and tier III cities, according to the online retailer. Flipkart says it intends to increase this number to 90 percent with Shopsy.
“In India, our goal with Shopsy is to make internet commerce accessible to everyone. There has been an incredible reaction to the platform, and we plan on enabling various efforts to help it expand. ” In a statement, Flipkart’s senior vice president for growth and monetization, Prakash Sikaria, explained.
“It is estimated that Shopsy’s weekly growth rate is increasing by 100 per cent. Now that the platform is displaying normal social app behaviour, virality is starting to take hold. Along the way, we hope to bring the best of e-commerce to social commerce, therefore accelerating the process. ” Additions were made by Sikaria.
To achieve this goal, Flipkart believes that gamification and social commerce elements will be key factors. For example, users can unlock larger rewards by reaching specified weekly/monthly goals. Further virality and evangelism will result from this type of gamification for fringe e-commerce clients.
Shopsy had more than 2 lakh users within a month of its inception. This Christmas season, the platform wants to continue growing by expanding features and services for Indians who are eager to begin their social commerce adventure over the course of the next two months.
It offers social commerce opportunities for Indians who are entrepreneurial. Social networking and communication applications allows ShopSy users to share catalogues of 15 crore items supplied by Flipkart vendors through their local networks.
For more than a decade, Flipkart has led many initiatives to unlock value for its consumers, including a low-cost logistics network and affordability programmes like ‘Flipkart Pay Later’.