Shopmatic sees revenue, transactions double during pandemic; launches initiatives for kirana stores
Jul 20, 2020
E-commerce solutions business Shopmatic reported a two-fold increase in its revenue, gross merchandise value, and transactions during the April to June quarter, compared to the previous quarter.
“We are delighted with our quarterly financial results, that we were able to achieve with the support of our customers,” said Shopmatic’s co-founder and CEO, Anurag Avula, TNN reported.
“Going digital is not an option anymore, but an imperative, and we have been able to contribute to our merchants’ success by launching relevant solutions like the Kirana Store special.”
The business, which specialises in tech-enabled solutions for small and medium enterprises, launched a range of tailored solutions for kirana stores in India during the country’s nationwide lockdown. By providing pre-made online catalogues, online payments, inventory management, and other services, Shopmatic’s kirana store services are designed to allow small fast-moving consumer goods stores to launch an e-commerce store.
“In the five years since we launched, we have been driven by our vision to enable online and offline success for our merchants by creating an omni-channel experience for our customers,” said Avula. “I am delighted that it has brought significant transaction growth to our customers. This inspires us to deliver even more innovative and compelling game-changing solutions for our merchants which we will be launching in the next few months.”
The business expects continued growth this year, TNN reported. Lockdown has accelerated the growth of online shopping in India and many businesses launched online stores during lockdown when brick-and-mortar retail was not an option. With the opening of lockdown amidst the continuing pandemic, many shoppers still prefer to shop from home and so this trend is expected to continue.
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