Flikpart’s Shopsy app to digitally enable entrepreneurs, small businesses

“Budding entrepreneurs can now arrange their enterprise so long as they’ve entry to a community of people who belief them, with out the trouble of funding, stock or logistics administration,” Flikpart stated.

Flipkart is tapping into the rising social commerce house with the launch of Shopsy, an app that allows particular person entrepreneurs and small companies to foray into on-line commerce. The technique is to achieve extra shoppers by leveraging the contact base of subscribers of the service.

Shopsy customers will have the ability to share catalogues of merchandise supplied by Flipkart sellers with their community of contacts by way of social media platforms and messaging apps. As many as 15 crore objects throughout segments starting from style to electronics will likely be accessible on the app, Flipkart stated in an announcement.

Registered customers of Shopsy can place orders on behalf of their potential clients and earn commissions on the transactions. The fee share will range relying on the class of merchandise.

“Budding entrepreneurs can now arrange their enterprise so long as they’ve entry to a community of people who belief them, with out the trouble of funding, stock or logistics administration,” Flikpart stated. The corporate goals to digitally allow over 25 million entrepreneurs by way of the service.

Social commerce is rising as a brand new mannequin for companies to transact. A deluge of low cost smartphones and inexpensive knowledge costs make it simple for shoppers to entry companies on the web. WhatsApp, Fb and Instagram, with a collective attain of over 400 million customers, enable companies to faucet into potential clients. The place social commerce is more and more scoring over a typical e-commerce market mannequin is that it permits product discovery and dialog with manufacturers to occur on-line. It facilitates direct communication between patrons and sellers. Customers can go for product demos by means of movies, serving to them make acutely aware decisions.

Social commerce, which is a $1.5 billion to $2 billion market at present, is estimated to be price as a lot as $20 billion in simply 5 years, and can probably hit practically $70 billion by 2030.

Prakash Sikaria, senior vice chairman – progress and monetisation, Flipkart, stated, “During the last a few years, Flipkart has been dedicated to contributing in direction of creating direct and oblique employment alternatives throughout the nation. Shopsy is launched to additional that imaginative and prescient. Entrepreneurs now will even utilise Flipkart’s catalogue, established supply networks, and infrastructure to convey reliability and velocity.”

Flipkart has been experimenting with the social commerce mannequin. Final 12 months, Flipkart owned impartial platform 2GUD had launched 2GUD Native, a service that permits native offline shops to showcase their merchandise to shoppers by way of long-format movies.

Meesho and DealShare are among the many most important gamers working within the social commerce phase. The house has been garnering a whole lot of investor curiosity of late. In April, Meesho entered the unicorn membership with a valuation of $2.1 billion after SoftBank Imaginative and prescient Fund 2 led a $300 million funding within the firm.