Shopsy (company) explained

Shopsy
Type:E-commerce
Owner:Flipkart
Headquarters:Bengaluru, Karnataka
Country:India

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

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

Notes and References

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

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