Shopmatic, an international e-commerce platform that offers an entire ecosystem of selling online has launched its business operations in Hong Kong to help the local entrepreneurs and individuals tap the rapidly expanding world of e-commerce and sell their products online.
The online platform will allow small businesses to flourish by helping them manage the entire ecosystem for them- right from developing their own unique web-store, listing them on marketplaces and social channels to assisting them with insights on how to sell online.
Hong Kong being the world's ninth largest trading economy with more than 90 percent of GDP coming from the service sector is the world's most service-oriented economy. Its SMEs are reputed for extensive global sourcing connections, brand credibility and innovation.
They can build on these advantages to expand their businesses by tapping into the rapidly increasing world of e-commerce. Taking this as an excellent opportunity, Shopmatic has launched its business operations and services in Hong Kong after recently stepping into the Singapore market and running successful operations in India's Bangalore and Gurgaon offices.
"With more than three lakh SMEs operating in Hong Kong, the city promises tremendous business opportunities for a significant base of untapped individual entrepreneurs. We are eyeing three segments of audiences-existing SMEs that are selling their products but are not online, existing SMEs that are selling their products offline with a minimal presence online or selling through marketplaces and lastly, individual entrepreneurs who are waiting to realize the potential of doing business online. In addition to that, our business operations in Hong Kong also mean we will be creating job opportunities for local talent," said CEO and Founder, Anurag Avula.
Since its inception in 2014, Shopmatic has offered a revolutionary, all-in-one e-commerce solution that enables business owners to build and manage their businesses online, commission-free. This means they do not have to rely on commission-based marketplaces, which can charge up to 15 percent for each transaction.
As the popularity of online shopping among domestic and overseas consumers continues to grow, cross-border e-commerce is becoming increasingly important and many companies in Hong Kong, especially those who belong to the SME category tend to lack a comprehensive understanding of e-commerce presence, sales, and marketing. This makes it difficult for them to develop successful online platforms.
"We at Shopmatic are here to provide our customers all of the necessary apparatus to step on the digital platform, charging just USD 20 month. They will get three months free if they sign up for our 12-month plan and a month free with our six-month plan. On top of that, all our subscribers get the first month as a free trial period. Ours is a SaaS model and average operating costs will come down with our growth in customers. We have also partnered with PayPal to enable cross-border trade for local business owners, making it easier for merchants to accept payments from customers outside Hong Kong,'' added Avula.
Shopmatic is eyeing significant investments. After Hong Kong and Singapore, the company now plans to expand its presence to other parts of Asia such as Malaysia and Indonesia by the end of this year and further strengthen its commitment to the region.