How the ShopX app helps small retailers jump onto the e-commerce bandwagon

Rajesha, who owns a mobile store in Gauribidanur in Karnataka, earlier used to purchase products from local distributors and had only a limited range of models to offer. But, now he sells a wide range of mobile phones, including those from premium brands, at his store after joining Nandan Nilekani-backed technology platform ShopX, run by 10i Commerce Services, and earns an additional Rs 20,000-30,000 per month. 

The Bengaluru- based company offers the ShopX app to help small retailers to participate and benefit from the digital economy. Founded by Amit Sharma and Apoorva Jois in 2015, ShopX aims to build a highly scalable “Operating System” for retail, aiming to power small merchants and consumers across India and in other emerging economies. 

Nearly 100,000 retailers are registered with the ShopX platform; the company aims to hit the one-million mark by the end of 2021, making it one of the largest retail networks in the world. 

Recently ShopX acqui-hired Gabbar-Deals, an omnichannel mobile phone retail brand. After the acquisition, ShopX has announced the launch of ShopX Edge, its chain of technology-powered mobile and electronic stores, and forayed into establishing a new class of omnichannel retailers across major cities and towns in India. It has set a target to set up 100 such stores in Maharashtra and Gujarat in the next 12 months.

“While the retail sector is growing significantly and moving online, it is important to bridge the gap between the online and the offline retail sectors. The launch of ShopX Edge signifies the brand’s foray into organised, omnichannel retail. We are working towards democratising e-commerce and creating a retail model for emerging economies, which benefits retailers, brands, and consumers,” said Sharma, chief executive officer and co-founder, ShopX.

Sharma stresses that the stores will ensure “a new kind of shopping experience” to the end consumers and expects that its “small format modern trade” model will contribute more than $100 million to its top line.

ShopX’s works with leading brands across the FMCG, electronics and lifestyle categories. 

Having a presence across more than 350 cities and town, ShopX claims around 32,000 transactions per day on its platform and targets to reach the 100,000-mark in 12 months. Retailers on ShopX are now fetching 30 per cent to 50 per cent increase in net profit, it said.

The technology platform company has raised $53 million in three rounds of funding with Nilekani and Fung Strategic Holdings being the major investors.