Business
Shopmatic waives off hosting fee for businesses to embrace ecommerce under ‘Inspiring Entrepreneurship Programme’
~ The company is all set to onboard 5 million customers over the next couple of years, and is launching a slew of initiatives that will change the way e-commerce is done in India ~
Mumbai- 16th September 2021: In a game-changing move, international e-commerce enabler Shopmatic is tweaking its Transaction model to permanently remove the monthly INR 50 / $1 hosting fees for subscribers. Starting 9th September 2021, the platform will only charge 3% transaction fees to merchants going online, making it even easier for businesses to embrace ecommerce.
Shopmatic is all set to onboard 5 million customers over the next couple of years, and is launching a slew of initiatives that will change the way ecommerce is done in India. The Company is now announcing no fee for setting up online stores for entrepreneurs forever! The development is a true testament to Shopmatic’s efforts of helping India’s aspiring entrepreneurs and businesses go online with ease.
Speaking on this, Anurag Avula, CEO & Co-Founder, Shopmatic, said, “Our disruptive Transactional model, that entailed INR 50 hosting fees and 3% of every successful transaction, was launched with an in-depth understanding of Indian entrepreneurs and their preferences. Now, as our customers continue to evolve, we are set to make another groundbreaking change. In the spirit of open networking, we are inviting all businesses and entrepreneurs to go online and leverage Shopmatic’s full spectrum of omnichannel features to maximize their business growth; they pay only when they earn. We believe this move will contribute greatly to the growth and development of India’s burgeoning SME landscape, propelling numerous aspiring business owners towards online growth and success. ”
As a perpetual extension of the ‘Inspiring Entrepreneurship Programme’, merchants will be able to use the entire Shopmatic platform for setting up their e-commerce presence without paying any sign-up charges; all they will pay is a nominal fee of 3% per transaction whenever they make a sale. This will encourage aspiring entrepreneurs and small business owners to take their business online, through 4 different ways to do ecommerce, basis their preference – Webstore selling, Chat Selling, Social Selling and Marketplace selling- and gear up for the festive season sales, that is around the corner.
The Shopmatic platform has been able to attract all kinds of sellers from different parts of the country, to go online. There are teenpreneurs from Bihar selling mushrooms, greypreneurs from Punjab selling besan laddoos and acchar, mompreneurs and fashionpreneurs from various cities selling bags, shoes, clothes, accessories, businesses from Kashmir selling saffron, kirana dukaans in Gurugram, UP and Karnataka,, merchants from Chennai selling wood-pressed oil, frozen foods sellers of ice cream and chicken nuggets from Churachandpur, Manipur, Doctors-turned-missionaries supporting the cause of Pashmina goats from Kashmir. Seeing these customers establish their digital footprint via the Shopmatic platform, helps further reinforce the Company’s belief that anyone can indeed, sell online.
Riding a consistent wave of growth, Shopmatic recently hit the 1 million merchants mark and is geared up to clock 5 million sign-ups over the next 3 years. In 2020, Shopmatic clocked $400 ml in GMV across 5 million transactions and is well on track to surpass this by the end of 2021. It achieved a revenue of S$5.5M for the H1 FY 2020 and also achieved EBITDA positivity one year ahead of its projected plans. Registering an 80% growth in transactions and GMV over the last quarter, Shopmatic is well-poised to create further disruption in the Indian e-commerce space.
Shopmatic will continue to offer Subscription plans for 3m, 6m and 12m that are based on a fixed cost model- $20 per month for a 12m plan. This will also cap the costs of our customers as merchants will have the freedom to easily cross-over / switch between any of the models, based on their business requirements.