“Ecommerce has transformed the way business is done in emerging markets such as India. With penetration of the internet and smartphones reaching over half a billion people, the opportunity is extremely large and promising,” says Mangesh Panditrao CEO, Shoptimize India Private Limited. It is this opportunity that the company plans to tap in the near future. With 102 live clients and growing at 400 per cent Y-o-Y, Shoptimize is all set to harness the power of AI—for sustainability and growth of themselves and their clients.
What led to the conceptualisation of Shoptimize?
Ecommerce has been consistently growing across the globe and is set to cross $200 billion in India as well. As consumers move to the internet to identify and buy products online, every brand would need a way to reach the online consumer. Brands initially focused on using marketplaces such as Amazon and Flipkart to drive online sales but were increasingly looking to build their own website as a medium for transactions and as a source of consumer behaviour analysis. To build a successful online business, brands need to leverage technology to the fullest. This is where we saw a gap and decided to build a SaaS business, which would enable, operate, and grow online sales for brands through their own websites.
The biggest value that Shoptimize brings to the table is the fact that it is an end-to-end digital sales channel and not just a technology or marketing services provider. In recent months, our artificial intelligence tools, which continuously improve conversions and reduce customer acquisition cost while providing an engaging experience for the users, have really set us apart.
What is your business model?
We work with leading global brands and our efforts focus on making the brand’s website the centre of their ecommerce strategy. Today, we primarily work with brands, which are too large to use standard DIY SaaS solutions and too small to use global enterprise solutions, which need a significant investment in time and money. Over five years, we have honed our skills in areas such as acquisition and fulfillment and have productised our learnings into one seamless platform. In addition to business development, our day-to-day activities consist of enabling brand ecommerce, operating the tech platform at peak performance, and growing sales for our customers.
This story is from the December 2018 edition of Indian Management.
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This story is from the December 2018 edition of Indian Management.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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