Flipkart, on Tuesday, announced that ‘Shopsy clocked in 4X revenue growth during this festive period, compared to the non-festive sale period, making it the top social commerce platform for consumers across the country. The platform’s active user base grew 3.7X to what it was during the non-festive period. For Shopsy, categories including fashion, beauty, general merchandise, and home (BGMH) led the growth story in October.’
Within just five months of launch, Shopsy has witnessed 3.6 times growth in new app downloads and crossed the 10 million+ mark on the play store. In July 2021, Flipkart launched its social commerce platform, Shopsy. The venture was started with the aim to make digital commerce accessible across India through a zero-commission marketplace to boost local entrepreneurship.
The platform has helped local & small businesses and women entrepreneurs adopt social commerce by simply reaching out to their trusted network of people on common social media apps.
“With the n200 million digital consumers coming from Tier 2 and 3 cities, we want to build a community that truly democratizes commerce in the country. The social commerce landscape in the country is evolving at a fast pace, and with Shopsy we are building a sustainable platform backed by our technology prowess. Small businesses and sellers see immense benefit on what Shopsy as a platform has to offer them- ranging from zero commission to free shipping facilities. We continue to ensure digital commerce reaches the length and breadth of our country and help make lives better.”Prakash Sikaria, Senior Vice President (Growth and Monetization) Flipkart
As a part of the expansion, Shopsy has made its presence in new Tier 2 and 3 cities such as Bhatinda, Barpeta, Gandhinagar, Morena, Mandla, Muzaffarnagar, Raipur, Sri Ganganagar, and Saharanpur during the festive period. The development has unlocked the potential of digital commerce for under-served consumers, which provided it a great response from consumers and resellers across the country who hopped onto the platform for their ‘shop & earn’ needs.
According to a recent Bain & Company report on ‘How India Shops Online – 2021’, social commerce is set to democratize e-retail, with three in five social shoppers coming from Tier 2/smaller towns. Currently, Shopsy has over 2.5 lakh sellers on the platform who provide 150 million products across 250+ categories. Shopsy is on track to enable over 25 million online entrepreneurs by 2023.
A seller with Flipkart’s Shopsy from Jaipur, Kumud Jindal says “With Shopsy our ability to reach a wider audience base has increased drastically, as we leverage the power of technology to drive up sales. The fact that Shopsy charges 0% commission from sellers also adds to its charm.”
Nabeel from FASTCOLORS, another successful seller on Shopsy from Chennai says, “Our hesitation of joining a new platform like Shopsy was washed away by the benefits that sellers get on listing their products. Especially during the festive season, things like 0% commission, getting the same settlement value for which we are selling to the customer, and the ease of uploading real-life pictures of our products really helped us establish transparency with our customers and boosted our sales. We are expecting even better growth with Shopsy in the future.”