Flipkart’s social commerce arm Shopsy records 40x growth
Flipkart's Shopsy was launched in July this year. The platform has seen an overwhelming number of users coming from Tier-II cities and beyond.
Shopsy, the social commerce offering from , has recorded 40x growth since its launch in July this year. The platform has over 2.5 lakh sellers, 51 lakh users, and a catalogue of over 150 million products.
Under Shopsy, any user can register on the app using their phone number, and set up their business without the need for investment, inventory, or logistics management. Users can share catalogues with potential customers via popular social media and messaging apps, place orders on their behalf, and earn commissions on the transactions.
According to a statement, during Flipkart's ongoing Big Billion Days sale event, Shopsy registered 16x growth in the first four days. The average earnings growth of Shopsy users was 30X in this festive period.
Prakash Sikaria, Senior Vice President - Growth and Monetisation, Flipkart, said, “This growth has surpassed our expectations and we have become the largest social commerce platform in the country.”
He noted that Shopsy is able to provide the trust and comfort in dealing with low ASP and unbranded products to reach out to the next set of online shoppers, who typically reside in Tier-II cities and beyond.
“We do the matchmaking between the worlds where supply is waiting to be unlocked digitally and customer that are ready to engage,” Prakash noted. This includes the entrepreneur, the seller, and the buyer.
The top user categories for Shopsy have been fashion, home, and mobiles. Among the users on this platform, around 20-30 percent are new to online transactions.
“We continue to stay focused on solving pain points for entrepreneurs and sellers along with delivering technology that makes their business journey convenient,” said Prakash.
The members of Shopsy are able to share catalogues of 150 million products offered by over 2.5 lakh sellers through social media and communication apps.
Flipkart aims to unlock the value of ecommerce by creating new avenues of online shopping while also creating an environment of trust and transparency.
Edited by Kanishk Singh
