Shopsy (company)

Last updated
Shopsy
Type of site
E-commerce
Headquarters Bengaluru, Karnataka,
India
Owner Flipkart Private Ltd
URL www.shopsy.in
Launched1 July 2021;2 years ago (1 July 2021)

Shopsy is an Indian B2C e-commerce platform launched by Walmart-owned Indian e-commerce firm Flipkart in July 2021. [1] [2]

Contents

History

Flipkart introduced Shopsy in July 2021 [3] [4] as a mobile app that allowed people in India to launch their own online reseller business. [5] [6] [7] By August 2021, the app had adopted a zero-commission marketplace model. [8] [9] Later, Shopsy shifted its focus to become a B2C company. [10] In December 2021, the app launched e-grocery services across 700 cities in India. [11] [12] In March 2022, Shopsy appointed Indian actor Sara Ali Khan as its brand ambassador. [13]

Shopsy was earlier helmed by Flipkart’s SVP - Growth & Monetisation, Prakash Sikaria until July 2022. [14] In the same month, Adarsh Menon, senior vice president, and head of new businesses at Flipkart, took over the leadership at Shopsy. [15] In August 2022, Shopsy had 100 million users. [16]

In September 2022, the company launched Grand Shopsy Mela for direct customers and eventually introduced a vernacular search for addressing the non-English speaking demographic. [17] As of December 2022, the mobile app had 11 lakh sellers with 68% of its customers coming from Tier-2 Indian cities. [18] In February 2023, Flipkart announced that Shopsy accounted for 40% of its new customers. [19] [20]

Business model

Shopsy is a zero-commission marketplace model for sellers in India. It is a digital commerce initiative by Flipkart, the Bengaluru-headquartered and Walmart-owned e-commerce company with over US$7.7 billion in annual revenue (FY 2022). [21] [22]

Awards

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References

  1. ↑ "Flipkart vs Meesho: A new war in Indian e-commerce". Moneycontrol. 26 November 2021.
  2. ↑ Mishra, Digbijay; Sharma, Samidha (2022-01-04). "Scaling up grocery and Shopsy will be priority, Flipkart CEO says". The Economic Times. ISSN   0013-0389.
  3. ↑ Mundhra, Laxitha (2021-10-08). "Flipkart's Social Commerce Venture Shopsy Plans Foray Into Grocery Market In 3-6 Months". Inc42 Media.
  4. ↑ "ಸ್ಥಳೀಯ ಉದ್ಯಮಿಗಳ ನೆರವಿಗಾಗಿ ಫ್ಲಿಪ್ಕಾರ್ಟ್ನಿಂದ ಆರಂಭವಾಯಿತು ಹೊಸ ಆ್ಯಪ್; ಇದರ ಕೆಲಸ ಹೇಗೆ ತಿಳಿದುಕೊಳ್ಳಿ". TV9 Kannada (in Kannada). 2021-07-01.
  5. ↑ "Flikpart's Shopsy app to digitally enable entrepreneurs, small businesses". Financialexpress. 2 July 2021.
  6. ↑ "Shopsy's revenue grows fourfold during festive period, says Flipkart". Moneycontrol. 30 November 2021.
  7. ↑ "Flipkart launches Shopsy to help entrepreneurs". www.thehindubusinessline.com. 2021-07-01.
  8. ↑ "Shopsy crosses 200,000 mark, announces zero commission marketplace". Business Standard. 2021-08-03.
  9. ↑ Majumdar, Romita (2021-07-02). "Under Fire From Small Traders, Flipkart Turns To Social Commerce With Shopsy". Inc42 Media.
  10. ↑ Soni, Yatti (2022-11-03). "Majority of Flipkart Shopsy's new users prefer to shop directly". www.thehindubusinessline.com.
  11. ↑ "Flipkart's Shopsy to start offering groceries in 700 cities including Mumbai, Delhi, Kolkata and more". India Today.
  12. ↑ "Flipkart's Shopsy ups the ante, to launch grocery delivery in 700 cities". Moneycontrol. 14 December 2021.
  13. ↑ Khosla, Varuni (2023-03-02). "Flipkart-owned Shopsy's launches TV campaign with Sara Ali Khan". mint.
  14. ↑ Soni, Yatti (2022-07-22). "Flipkart Shopsy head Prakash Sikaria to quit". www.thehindubusinessline.com.
  15. ↑ Khan, Sami (2023-01-07). "Shopsy is redefining e-commerce space; what is driving manifold growth [Interview]". www.ibtimes.co.in.
  16. ↑ Singh, Nikesh (2023-01-23). "Flipkart's Shopsy sees six-fold customer growth on its website in 2022". www.business-standard.com.
  17. ↑ "Opinion: Vernacular India is the next big internet wave". mint. 2019-03-04.
  18. ↑ "Shopsy claims 6-fold growth in customers, orders during festive season sale". www.business-standard.com. 2022-10-04.
  19. ↑ Crossley, Isabelle. "Flipkart's Shopsy reports 600% year-on-year growth with fashion leading the way". FashionNetwork.com.
  20. ↑ "Rise of value e-commerce: Shopsy already accounts for 40% of Flipkart's new customers". Business Today. 2023-02-28.
  21. ↑ "Walmart-owned Flipkart poised to list publicly, says SoftBank". www.business-standard.com. 2023-02-07.
  22. ↑ "Why did Walmart buy India's Flipkart?". BBC News. 2018-05-10.
  23. ↑ "Google Play announces best apps of 2022! Questt, Shopsy, Khyaal lead the pack". The Economic Times. 2022-12-01. ISSN   0013-0389.
  24. ↑ "Flipkart's Shopsy App gets honored with Google Play Best of Users' Choice Award". TimesNow. 2022-12-01.
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