Table of Contents
Introduction
Shopsy is a new app from Flipkart that enables Indians to build their own online companies with no upfront costs. Flipkart hopes to help over 25 million online business owners by 2023 through Shopsy.
Users of Shopsy will be able to share product catalogues for a huge variety of 15 crore products offered by Flipkart sellers, ranging across Fashion, Beauty, Mobiles, Electronics, and Home, among others, with prospective customers via well-known social media and messaging apps, giving them the power to influence their local network and realise their aspirations.
Shopsy Company Highlights
| Company Name | Shopsy |
| Headquarter | San Francisco, United States |
| Industry | App based social shopping platform |
| Founded | 2013 |
| Founder | Lisa Morales-Hellebo |
| Website | http://www.shopsy.com/ |
Shopsy About
Shopsy is a smartphone application that lets Instagram users buy anything they see on the platform. Since its introduction, Shopsy, Flipkart’s social commerce platform, has grown 40 times. Over 2.5 lakh sellers, 51 lakh users, and more than 150 million products are available on the marketplace. Users from Tier-II cities and beyond have made up the vast majority of users on the network. Anyone on social media will be able to sell items from the online marketplace and make a modest fee thanks to the app.
Shopsy Industry
The e-commerce platform aims to increase the number of online shoppers in the nation by promoting online purchasing. By 2025, there will likely be 900 million active internet users in India as rural areas see increased use. Nearly three hours a day are spent online by people, primarily for chatting, social media networking, and video watching. These individuals rarely engage in online shopping due to a lack of confidence and technical sophistication. The middle-aged and elderly in metropolises and cities who are only technologically literate enough to use Facebook and WhatsApp also exhibit this hesitancy frequently. This hesitancy is not simply prominent in rural areas.
Shopsy Founder and Team
Its founder is Lisa Morales-Hellebo. In July 2021, Walmart-owned Indian e-commerce company Flipkart introduced Shopsy, a B2C e-commerce platform.
Shopsy Startup Story
Shopsy was made available by Flipkart in July 2021 as a smartphone app that Indian citizens may use to start their own online reseller businesses. The app had switched to a zero-commission marketplace model by August 2021. Shopsy then changed its direction to become a B2C business. In December 2021, the app introduced e-grocery services in 700 Indian cities. Indian actor Sara Ali Khan was named Sara Ali Khan’s brand ambassador by Shopsy in March 2022.
Before July 2022, Flipkart’s SVP of Growth and Monetization, Prakash Sikaria, oversaw Shopsy. The management of Shopsy was taken over by Adarsh Menon, senior vice president and head of new ventures at Flipkart, in the same month. 100 million people used Shopsy as of August 2022.
The business established a vernacular search for the non-English speaking market after launching Grand Shopsy Mela in September 2022 for direct clients. With 11 lakh retailers as of December 2022 and 68 percent of its users from Tier-2 Indian cities, the mobile app had 11 lakh sellers. Flipkart reported that 40% of its new clients came through Shopsy in February 2023.
Shopsy Mission and Vision
The goal of Shopsy is to support e-commerce for communities and independent platforms where these users invest time and confidence. newest product on Flipkart A marketplace with no commissions has been launched, according to Shopsy. Through this programme, it helps to organise and bring smaller suppliers in the fashion, grocery, and home sectors online.
This will accelerate the expansion of e-commerce in Tier 2 cities and towns that have not yet reaped the rewards of digital retail by enabling and enhancing the supply of products and catalogues on the platform.
“Our objective with Shopsy is to enable digital commerce for everyone across India,” said Prakash Sikaria (Senior Vice President). We’ve had a tremendous reaction, and we’re now working to support various platform initiatives that can quicken growth.
Shopsy is expanding 100% week over week. The platform is acting like a conventional social app, and virality is beginning to take hold. As we move along in our journey, we hope to more quickly achieve this by bringing the best of e-commerce to social commerce. Shopsy is a significant step in the path that the Flipkart group has been dedicated to taking in terms of constantly broadening the scope of e-commerce.
Shopsy Name, Tagline, and Logo
Shopsy Business Model
Through social network platforms like WhatsApp, the programme enables people to register profiles and distribute product catalogues for Flipkart to prospective buyers. Once the clients have made up their minds about what they want to buy, the Shopsy user can place the orders on their behalf, earning commissions that might be as high as Rs. 25 (or even more), depending on the product category and ticket amount.
The difference between Shopsy and Flipkart’s business models is that Flipkart requires commission from online sellers, but Shopsy allows vendors to sell their products with 0% commission within the price range of (Rs 150 – 699).
Small businesses will benefit even more from Shopsy by Flipkart because sellers practically never need to register their trademarks. The app’s extra function allows sellers to publish images using their own smartphones and does not necessitate a professional photo shoot, which saves money. By providing the services to companies looking to accurately and quickly attract the attention of the public, Shopsy also makes money through sponsored products and advertisements.
Shopsy has a strong social media following on sites like Instagram and YouTube, where it frequently posts its commercials and airs them on TV. In order to appeal to the masses, Shopsy also employs superstar branding. Sara Ali Khan was chosen as a brand ambassador in 2022, for example. The domestic advertising market is worth $85,769 crore, according to a report by the advertising company Dentsu, and has been growing at a rate of 18.1 percent since 2021.
Shopsy Revenue Model
For Indian vendors, Shopsy offers a zero-commission marketplace approach. It is a digital commerce project of Flipkart, an e-commerce company with headquarters in Bengaluru and Walmart ownership that generates over US$7.7 billion in annual revenue (FY 2022).
Shopsy Products and Services
Local business owners had it simple to join and redefine the entrepreneurial spirit throughout India thanks to Shopsy. With 150 million products spanning fashion, cosmetics, mobiles, home, and many other categories, Shopsy currently has over 2.5 lakh seller-base. Shopsy ensures greater levels of dependability and reach in every little city and town it is present in by utilising the well-established network and technology capabilities of Flipkart.
Shopsy Funding and Investors
- 100K total financing was raised from 1 investor over the course of 1 round.
- $400K to $600K is the total valuation.
- $100K was most recently invested in a seed round on March 27, 2013.
Shopsy Employees
It has over 500 employees.
Shopsy Challenges Faced
Even if the number of online transactions has increased dramatically over the last several years, many consumers still lack the confidence to conduct business on eCommerce websites, primarily because they are uninformed and lack trust. However, distributed commerce has acted as a pathway to address these issues and has seen significant growth in recent years. Shopsy will increase the likelihood that the app and its users will expand.
Shopsy Acquisitions
There is no data of it.
Shopsy Growth
On its marketplace, Flipkart currently offers more than 150 million products from 350,000 vendors. By 2023, Flipkart hopes that 25 million online business owners will be able to take advantage of digital commerce thanks to Shopsy.
This is comparable to influencer marketing. While the influencer’s job is done after they’ve promoted a product, these resellers will also be in charge of finalising deals by collecting payments from clients. Although the commissions seem low, how successful and entrepreneurial the resellers are will determine how much money they can make. A salesperson’s job is to do that.
A recent analysis by Bain & Company and venture capital firm Sequoia Capital estimates that the industry for social commerce is currently worth between $1.5-2 billion and will reach $70 billion by 2030.
Shopsy was introduced shortly after proposed standards for e-commerce businesses that prohibit them from listing linked parties as sellers on their marketplaces. If these regulations are approved, they could undermine the Indian business models of marketplaces and aggregators like Amazon, Flipkart, Swiggy, and Zomato.
Shopsy Partners
A brand-new ZERO commission marketplace called Shopsy by Flipkart was created to unite Indian sellers on a single online platform.
Shopsy Competitors
Fancy, Meilishuo, and SocialLadder are the main competetors.
Shopsy Awards and Achievements
Google Play Best of Users’ Choice Award for 2022.
Shopsy Future Plan
Flipkart provides a huge selection of goods—nearly 15 crore items—from various industries, which the web app shows its users and allows them to select and purchase the goods they want. By using any social media platform or messaging app to share Flipkart’s catalogues with potential buyers, Shopsy users may place purchases for their clients while also generating commissions for themselves. The quantity or percentage of commissions earned will vary depending on the products and the categories they are ordered from.
Flipkart will also benefit greatly from Shopsy, which has limitless potential to grow its user base and expand its market share. Flipkart will be known to those who are relatively new to the world of eCommerce or who are unsure about purchasing anything online. Because the known thread will be their trusted point of contact, who will be a Flipkart user, this will increase their faith in the brand and eCommerce in general.
This new programme will be advantageous for those who already have a robust network as well as a fantastic opportunity for those who merely hope to develop a passable network.
Yes, after they join in with this Flipkart app, the latter can also successfully weave their own network using the daily transactions that they rely on.
FAQs:
What does Shopsy do?
Shopsy is a social marketplace for mobile apps. It enables users to shop for goods they’ve found on Instagram. The app, which is a part of Instagram’s API, enables users to connect an Instagram image of a product with the internet address of the place where it may be purchased. Customers can look for products or stores, view Shopsy’s recommendations, and share products on Facebook and Twitter. For direct product purchases, it also incorporates a two-tap wallet.
When was Shopsy founded?
It was established in 2013.
Who is the founder of Shopsy Corporation?
Shopsy was founded by Lisa Morales Hellebo.
Who is the CEO of Shopsy Corporation?
The CEO at the moment is Usama Arjumand.
Who are the main competitors of Shopsy?
The three main competitors are SocialLadder, Meilishuo, and Fancy.
Conclusion
Overall, Shopsy offers small business owners a fantastic opportunity to grow their enterprises using the Internet and its resources, as well as support from the company in the areas of marketing, shipping, and CSR. The same is true for customers, who may find a wide variety of goods on Shopsy at low prices and with no commission, including everything from clothing to gadgets. By using this platform, vendors can have direct access to over 500 million consumers that have a tight budget, which will help them grow their customer base.
