Shopmatic, a Singapore-based do-it-yourself platform for those interested in doing business online launched in the first week of October. It has signed up 100 companies so far.
The firm has its sights on existing small and medium sized businesses that do not have an online presence, those with minimal presence or are selling through marketplaces.
“There is a 51 million base of Small and Medium businesses in the country with a very little percentage with their own urls. There is another huge and wholly untapped segment, that is represented by individual entrepreneurs who all of us know,” says Avula, outlining the firm’s strategy which is to disrupt the market from the supply side.
The biggest gaps, according to Avula is the lack of sophisticated offerings in the market, high costs attached to selling online and the complication that the online e-commerce world presents to customers.
How it works:
The company helps manage the entire ecosystem for by helping the interested businesses develop its own unique web store, listing them on marketplaces and social channels and give insights on how to sell online. All this comes at a monthly subscription fee of USD 20.The firm is optimistic that they can get one million customers on board its platform in a year’s time.
India is Shopmatic’s first international venture where it will launch its operation in 18 cities. The sheer numbers in India are huge, informs Avula, adding, that Shopmatic does not want to limit itself to India, but extend to other countries as well like Hong Kong, Malaysia, Taiwan, the Middle East, Africa and Australia. It plans to launch in other Asian countries by the end of the year and extend operation to the Middle East, Africa and Australia by 2016.