National, 16 th April 2024: The e-commerce sector, a driving force in modern commerce, continues to demonstrate resilience and growth. WorkIndia, a leading tech-driven blue-collar recruitment platform reveals key insights into its intricate dynamics across the key aspects of this sector’s composition and growth trajectory.
In terms of geographic concentration, Tier 1 cities lead the e-commerce landscape, collectively contributing 45% to sectoral growth. Cities like Delhi and Mumbai stand out significantly with contributions of 33.4% and 18.9% respectively, highlighting their pivotal roles as e-commerce hubs.
Bengaluru (12.4%) and Pune (9.7%) also make notable contributions, reflecting their status as key tech centers. Tier 2 (26.7%) and Tier 3 (28.3%) cities, although representing a significant portion (54.9%) of the market, show potential for further penetration and growth, presenting opportunities for expansion and investment. This underscores the concentration of e-commerce activity in major urban centers, with potential for development in smaller cities and towns.
The data also sheds light on the demographics of e-commerce users, revealing notable trends across different age groups. The age group of 18-29 emerges as a dominant force with a substantial proportion of 65.06%, indicating the strong engagement of younger individuals in online shopping activities. The 30-39 age group follows suit with 15.59%, demonstrating sustained interest among young adults.
However, participation gradually declines with age, with the 40-49 and 50+ age groups representing smaller percentages of 4.11% and 1.31% respectively. This trend underscores the preference for e-commerce among younger age brackets, aligning with their tech-savvy nature and digital adoption tendencies.
Marketing takes the lead with a substantial share of 21.32%, underscoring its pivotal role in promoting and selling products or services online. Business Development closely follows at 18.40%, emphasizing the sector’s focus on expanding market reach and cultivating strategic partnerships.
Software Developers constitute 15.47%, highlighting the crucial role of technological innovation and infrastructure in enhancing e-commerce platforms. Accounts and Distribution & Merchandising sectors contributed significantly with 37.70% and 4.33% respectively, showcasing the importance of financial management and streamlined supply chain operations. This distribution underscores the multifaceted nature of e-commerce, where diverse skill sets converge to drive growth and competitiveness.
Commenting on the same, Mr. Nilesh Dungarwal, Co-Founder and CEO, WorkIndia said, “The rapid growth of the e-commerce industry not only signifies technological advancement but also brings tangible benefits to blue-collar workers. This sector’s expansion creates a myriad of job opportunities across various roles, from logistics and warehouse operations to delivery services, providing meaningful employment avenues for blue-collar workers. Additionally, e-commerce platforms empower these workers with flexibility, accessibility, and the potential for career growth within a dynamic and evolving industry. As the e-commerce landscape continues to flourish, we are committed to fostering an inclusive ecosystem that uplifts and empowers blue-collar workers, driving economic prosperity and societal progress.”
These insights into the evolving dynamics of the e-commerce sector provide valuable guidance for businesses and stakeholders, shaping strategic decisions and fostering sustainable growth in this dynamic industry.
16th April, 2024, New Delhi, India – Mitgo Ventures, an investment arm of one of the world’s leading MarTech companies, Mitgo Group, has invested in Spanish next-generation cashback service Qoala. It is a browser extension that allows users to get cashback and automatically apply coupons in over 4,000 stores. For Mitgo Ventures, this is one of the first investments in its new global Publisher Investments program of more than $20 million over the next two years. This investment program is accessible in the Indian market as well. Mitgo Ventures estimates that at least 15% of the overall current 20$ million investment plan will be invested in publishers from APAC.
Qoala’s browser extension has already reached an audience of 150,000 users in LATAM and Europe and is considering entering the Indian market in the future. It is a new-generation cashback service that is revolutionizing the space with their combined cashback and one-click checkout experience. The service partners with such well-known brands as Adidas, HP, Nike, IKEA, Vans, Booking.com, ASOS, AliExpress and many others.
“We are thrilled to announce a strategic investment and partnership with Mitgo Ventures, marking a significant milestone in our journey toward becoming the premier cashback solution across Europe and Latin America. This collaboration aligns us with a major industry leader, Mitgo, whose expertise and standing in the market are unparalleled. Together, we are poised to redefine the cashback landscape, leveraging our combined strengths to enhance user experiences and extend our services to over 1 million users in the coming year’s, believes Rafael Rubio, co-founder and co-CEO of Qoala.
The project team includes e-commerce specialists and second-time founders with many years of experience in the industry in focus regions. It was their strength and enthusiasm that was one of the decisive factors in attracting investment.
“We are entrepreneurs as well, and it’s great to see an energetic and inspired team that has the necessary skills in addition to passion. Qoala is great at combining both the B2C component and value to the user, as well as focus on B2B and great adaptability to large clients and their audiences. Our 10+ years of experience at the intersection of e-commerce and marketing allows us to offer dozens of ideas to accelerate their growth and increase revenue per user. And given the experience of our own startup studio and venture fund, we know 99 mistakes that most often ruin young projects, and will help Qoala avoid them," says Max Volokhov, Managing Partner at Mitgo Ventures.
In addition to capital and expertise, Qoala will also gain the opportunity to work with an expanded number of advertisers who already partner with Mitgo Group in India, Europe and LATAM. The group currently has contracts with more than 30,000 brands and online stores.
The investment in Qoala will be the first in a series of many under the Publisher Investments program launched by Mitgo in 2023. Aimed primarily at projects working in the FinTech, smart shopping, gig economy, generative AI, HRtech, MarTech, Influencer and no-ads sectors, the program intends to help publishers solve one of the biggest issues they face: finance gaps and cash flow problems that stand in the way of growth.
Applicants must also currently – or plan to through investment – earn more than 50% of their revenue from “cost per lead”, “cost per click”, “cost per sale” and other performance-based models or have the potential to become a tech partner for affiliate publishers.
Initial investment capital of the program is at $20 million over the next two years, but this amount will increase depending on the number of promising applications from publishers. Mitgo Ventures has already received numerous applications from India, and the influx continues.
About Mitgo
Mitgo is a global tech company focused on delivering innovative solutions and promoting entrepreneurship. Mitgo offers solutions and services in the MarTech, FinTech, Smart Shopping and IT-driven Startup Incubation sectors. These currently include Admitad partner network, native advertising platform TakeAds, coupon and voucher advertising solutions FairSavings, influencer marketing platform ConvertSocial, affiliate and referral tracking software Tapfiliate, education, and vocational training network Univibes, among others.
Additionally, Mitgo functions as a venture builder for startups and individual entrepreneurs, and as an investor network, seeking to support promising new IT projects. The company, headquartered in Neckarsulm, Germany, employs over 800 specialists across 10+ offices, spanning the USA (Chicago), Europe (Amsterdam, Warsaw, Kyiv, and Tbilisi), Brasil (São Paulo), the UAE (Dubai), and India (Gurugram).
This article has been contributed by Sanjeev Ingti, Director & Co-founder, Eliea Wellness.
In the ever-evolving landscape of online commerce, selecting the right e-commerce platform is paramount for businesses seeking to establish a robust digital presence. This E-commerce Platform Selection Guide aims to provide comprehensive insights into the pivotal factors involved in making an informed decision.
Evaluating platforms entails a thorough assessment of features, functionality, and user-friendliness. Each platform offers distinct advantages, from the simplicity of Shopify to the versatility of Magento and the robustness of WooCommerce.
Customization and scalability are crucial considerations, as businesses require flexibility to tailor their online storefronts to unique branding and operational requirements. Scalability ensures that the chosen platform can accommodate growth without compromising performance or user experience. Whether it’s seamless integration with existing systems or support for multiple currencies and languages, customization options must align with business objectives.
Choosing the right platform demands a holistic approach, considering factors such as budget constraints, technical expertise, and long-term growth strategies. By prioritizing flexibility, scalability, and alignment with business goals, organizations can navigate the complexities of e-commerce platform selection with confidence and clarity.
Importance of E-commerce Platform Selection for Businesses
Selecting the right e-commerce platform can have a significant impact on a business in several ways:
User Experience (UX): A good e-commerce platform provides an intuitive and seamless user experience for customers. If the platform is easy to navigate and offers smooth checkout processes, it can lead to higher conversion rates and customer satisfaction. Conversely, a poor UX can drive customers away and harm the business.
Scalability: As a business grows, it needs an e-commerce platform that can scale accordingly. Choosing a platform that can handle increased traffic, transactions, and product listings without compromising performance is crucial for long-term success.
Customization and Flexibility: Different businesses have unique requirements and branding needs. The ability to customize the e-commerce platform to match these needs is essential. Flexible platforms allow businesses to add new features, integrate with third-party services, and adapt to changing market trends more easily.
SEO and Marketing: An e-commerce platform that is optimized for search engines (SEO) and supports various marketing tools can help drive traffic and increase visibility. Features like customizable URLs, meta tags, and integration with marketing platforms enable businesses to enhance their online presence and attract more customers.
Mobile Responsiveness: With the increasing use of mobile devices for online shopping, it’s essential for an e-commerce platform to be mobile-responsive. A mobile-friendly platform ensures that customers can easily browse and make purchases from their smartphones and tablets, leading to higher conversion rates and improved customer satisfaction.
Security: Security is paramount in e-commerce, as customers need to trust that their personal and financial information is safe. Choosing a platform with robust security features, such as SSL encryption, PCI compliance, and regular security updates, helps protect both the business and its customers from data breaches and fraud.
Integration and Support: An e-commerce platform should seamlessly integrate with other business tools and systems, such as inventory management, accounting software, and customer relationship management (CRM) systems. Additionally, reliable customer support is crucial for resolving issues quickly and ensuring the smooth operation of the platform.
Cost: The cost of the e-commerce platform, including setup fees, transaction fees, and ongoing maintenance costs, should align with the budget and revenue expectations of the business. It’s essential to consider both the upfront investment and long-term expenses associated with the platform.
Choosing the right platform for your e-commerce business is crucial for its success. There are several factors to consider when evaluating e-commerce platforms:
Business Needs: Understand your business requirements and objectives. Consider factors such as the size of your inventory, the type of products you sell (physical goods, digital products, services), your target market, and your scalability needs.
Budget: Determine your budget for the platform, including setup costs, monthly fees, transaction fees, and any additional expenses such as customization or third-party integrations.
Ease of Use: Look for a platform with an intuitive interface that is easy to use for both administrators and customers. Consider factors such as setup process, product management, order processing, and customization options.
Customization: Evaluate the level of customization offered by the platform. Can you easily customize the design and layout of your storefront? Are there options for adding custom features or integrating third-party apps and services?
Scalability: Choose a platform that can grow with your business. Consider factors such as the ability to handle increased traffic and sales volume, as well as options for upgrading to higher-tier plans or migrating to a different platform if needed.
Payment Options: Make sure the platform supports the payment methods preferred by your customers. Look for support for major credit cards, digital wallets, and alternative payment methods such as PayPal or Apple Pay.
Security: Security is critical for e-commerce platforms to protect sensitive customer information and prevent fraud. Look for platforms that comply with industry standards such as PCI DSS and offer features such as SSL encryption and fraud detection.
SEO Features: Consider the platform’s built-in SEO features to help improve your website’s visibility in search engine results. Look for features such as customizable URLs, meta tags, sitemaps, and integration with Google Analytics.
Mobile Responsiveness: With the increasing use of mobile devices for online shopping, it’s essential to choose a platform that offers a mobile-responsive design. Ensure that your website looks and functions well on smartphones and tablets.
Customer Support: Evaluate the level of customer support provided by the platform, including available support channels (phone, email, live chat), response times, and support resources such as documentation, tutorials, and community forums.
Tips for Assessing and Choosing E-commerce Platforms
To evaluate e-commerce platforms based on these criteria, you can:
Research and compare different platforms based on their features, pricing, and customer reviews.
Take advantage of free trials or demos offered by e-commerce platforms to test their functionality and see if they meet your requirements.
Reach out to platform providers directly with any specific questions or concerns you may have.
Seek advice from other e-commerce merchants or industry experts who have experience with different platforms.
This article has been contributed by Ganesh Nair, Director Operations at Mehar.
In today’s world of e-commerce, the increase in online stores is clearly intensifying the relentless pace of growth. Navigating the complex world of shipping and fulfillment is necessary for one’s business success. This comprehensive guide focuses on three key areas that is developing a strategic shipping plan, deciding between outsourcing and in-house fulfillment, and optimizing shipping costs and delivery times. In an era where customer satisfaction is dependent on timely and cost-effective logistics, e-commerce companies should carefully construct their shipping strategy to ensure long-term success. Ganesh Nair, Director Operations at Mehar by Rhysley shares the strategies for lowering shipping costs and delivery times, which are critical for maintaining a competitive edge in the ever-changing e-commerce industry.
E-commerce fulfillment and shipping encompass the entire process initiated when customers place online orders, distinguishing it from traditional brick-and-mortar or catalog-based transactions. This important process applies to both business-to-business (B2B) and business-to-consumer (B2C) transactions. The range of delivery methods and associated pricing strategies are pivotal in shaping the overall customer experience.
To deal with the complexities of fulfillment and shipping, online businesses can take strategic steps to streamline their operations. Taking advantage of e-commerce shipping integration is essential as it allows seamless collaboration with reputable carriers that include Blue Dart, DTDC, Delhivery, and India Post. These collaborations allow businesses to offer a variety of shipping options and rates by giving customers options that are specific to their preferences. This empowers customers by granting them the flexibility to select their preferred shipping method and allows businesses to capitalize on competitive carrier rates that generate an additional revenue stream.
One notable improvement to the shipping strategy is the addition of same-day shipping, which addresses the growing demand for quicker order fulfillment. By adding same-day shipping options, businesses can meet the expectations of modern consumers who want quick services. This feature improves the customer experience by making it more convenient and appealing. However, the feasibility of same-day shipping is determined by factors such as product type, geographical location, and operational capability.
The global e-commerce fulfillment services market is witnessing remarkable growth, with projections estimating its value to reach $113.59 billion by 2027. This growth highlights the growing importance of a well-structured shipping strategy in staying competitive in the ever-changing e-commerce landscape. Businesses that embrace innovative shipping solutions, such as same-day shipping, have a greater opportunity to gain market share and meet rising consumer expectations.
Once an e-commerce entrepreneur decides on a shipping strategy, the next crucial decision revolves around fulfillment – the process of preparing and shipping orders to customers. The two primary options that exist are, outsourcing fulfillment to a third-party company or managing it in-house.
Outsourcing fulfillment involves partnering with a third-party logistics (3PL) company and entrusting them with the entire fulfillment process. This option offers scalability, allowing businesses to adjust their operations based on fluctuating order volumes, allowing for flexibility and cost-effectiveness. Additionally, 3PL providers often have established networks, potentially resulting in cost savings and faster delivery times. This is particularly beneficial for businesses experiencing growth or seasonal variations in demand.
On the other hand, in-house fulfillment provides businesses with more control over the entire process. This approach is suitable for companies with consistent order volumes and specific requirements that do not correspond with traditional 3PL services. Complete control over fulfillment operations enables customization and adaptability to specific company requirements. However, the difficulty is scalability, especially during peak seasons when order numbers increase. To manage rising demand efficiently, in-house fulfillment might need large expenditures in infrastructure, technology, and workforce.
The decision between outsourcing and in-house fulfillment depends on various factors such as business size, order volume, and the desire for control over the fulfillment process. Business size is important as smaller organizations may find outsourcing less expensive, but larger businesses may choose in-house fulfillment to maintain control. Order volume is another factor to consider; variable quantities promote outsourcing, whereas constant numbers may benefit in-house management. The entrepreneur’s desire for control over the fulfillment process is essential, as some organizations prioritize customization and hands-on management while others value the ease and expertise provided by 3PL suppliers.
Size of the Global E-commerce Logistics Market from 2020 to 2026
Optimizing Shipping Costs and Delivery Times
In the dynamic realm of e-commerce, optimizing shipping costs and delivery times is important for preserving customer satisfaction and maintaining a competitive edge. Balancing these two factors requires a strategic approach. To optimize shipping costs, businesses should negotiate favorable shipping rates with carriers based on their shipping volume. Additionally, leveraging technology, such as shipping calculators and automation tools, can help minimize errors and reduce operational costs.
Exploring partnerships with fulfillment centers strategically located near target markets can further enhance cost-effectiveness. Reducing delivery times is a multi faceted effort that involves efficient order processing, strategic inventory placement, and choosing the right shipping partners. Employing multiple shipping carriers allows businesses to provide expedited shipping options, catering to customers who prioritize swift delivery. Investing in a real-time tracking system enhances transparency and builds trust with customers by providing visibility into the shipping process. This not only improves the customer experience but also allows businesses to address any potential issues promptly.
Furthermore, businesses can implement order cut-off times and same-day shipping initiatives to meet customer expectations for speedy deliveries. Successful e-commerce shipping and fulfillment strategies are multifaceted by requiring careful consideration of shipping options, fulfillment models, and optimization techniques. With the e-commerce landscape continually evolving, staying attuned to market trends and embracing innovative solutions will position entrepreneurs for sustained success in the competitive world of online retail.
Developing a strong shipping plan for e-commerce requires careful consideration of outsourcing benefits, in-house management, and ongoing optimization of costs and delivery times. By understanding and effectively focusing on these aspects, e-commerce entrepreneurs position themselves to meet customer expectations, stay competitive, and flourish in the world of online retail.
This article has been contributed by Dr. Somdutta Singh, Founder & CEO Assiduus Global Inc, LP Angel Investor, Author and Ex-Member Niti Aayog.
E-commerce sales are expected to surpass $8.1 trillion by 2026.
95% of all shopping will be done online by 2040.
205 million people worldwide turn to online shopping daily.
95% of global purchases are expected to be through E-commerce businesses by 2040.
Why do you think I started writing an article with staggering numbers? Perspective. To give you a viewpoint of how monumental the E-commerce landscape is.
As cliche as it sounds, the online shopping landscape is booming, offering businesses and individuals the exciting opportunity to connect with a global audience from the comfort of their living rooms.
But, with great opportunities come challenges. And that’s what I am here to talk about.
The global E-commerce market boasts a current valuation of USD 6.9 trillion, representing nearly 20% of all sales worldwide. Projected 10% growth by the end of 2024 also underscores its vast potential.
Adaptability to shifting trends and consumer behavior will be key for businesses looking to succeed in the evolving E-commerce landscape.
The need for E-commerce in today’s landscape is more apparent than ever.
How To Find The Right Supplier?
Finding suppliers may not seem very hard when everything is online. However, every supplier might not be the right choice for you.
Understanding Different Sourcing Methods
When it comes to sourcing products for your store, there are a few different methods to consider. Understanding the options, you have will make it easier for you to find suppliers in the long run. Here are the common methods for sourcing products:
Wholesalers: Wholesalers allow you topurchase products in bulk at discounted prices to resell with a markup. Finding wholesalers might not be too difficult. You can use online directories (eg. Flipkart Wholesale or IndiaMart) or attend industry trade shows. However, in such a case, the wholesaler will ship to you and you are responsible for distributing the products to your customers. This is great for general goods, such as groceries, or as an intermediate step for finding raw materials for handmade or DIY products in your store. Making use of wholesalers would also require you to have a warehouse.
Dropshipping: Dropshipping has become extremely popular in recent years and is an alternative to wholesale distributors. In this method, the business owner partners with suppliers who handle inventory and ship directly to your customers. Compared to the wholesale models, you don’t have to worry too much about inventory management and have much lower upfront costs.
Manufacturers: It is also possible to bypass distributors completely and work directly with manufacturers to create or source your products. This allows for customization and potentially lower costs. However, this method may require larger order quantities.
Once you’ve understood the different sourcing methods you have, you are still left with evaluating the right suppliers. Consider the following when evaluating suppliers:
Perform quality checks: Request product samples, read online reviews, and research their reputation to ensure product quality aligns with your standards.
Reliability and communication: Seek suppliers with quick response times, consistent pricing, clear communication, and efficient order processing.
Pricing and payment terms: Understand all costs involved, including shipping and possible import fees. Negotiate favorable payment terms.
Location: Consider the supplier’s location, as it impacts shipping costs, lead times, and ease of communication.
Inventory Management
Effective inventory management is a crucial pillar for not only maintaining a sustainable business but also ensures scalability down the line. There are different strategies when it comes to inventory management as well.
ABC analysis: In this technique, products are categorized into three groups (or class) based on their annual value demand. In this division, high-value or high-demand products are categorized as A, medium-value products are categorized as B, and low-value products are categorized as C. This type of division helps allocate resources more effectively, allowing tighter control of the inventory depending on product demand.
Just in time (JIT) inventory management: JIT inventory management is a method that is ideal for businesses that don’t require a huge inventory, and where demand is predictable and consistent. In this type of inventory management, the owner stocks the inventory as and when needed, depending on the number of orders. This type of inventory management can minimize storage costs and works well with reliable suppliers and predictable sales patterns.
First in, first out (FIFO) method: If you’re selling goods that have an expiration date, or are perishable or seasonal items, then consider this method. In this, the older stock is sold first to prevent products from expiring or becoming obsolete.
Safety stock: A very popular inventory management method is to maintain a buffer inventory level, aka a safety stock, to handle unexpected demand surges or delays in shipments. It is commonly used to plan for unexpected risks and maintain a steady output.
How to Balance Supply and Demand?
Finding suppliers and effective inventory management is only one part of running a business. Without balancing supply and demand, businesses risk either running out of stock, leading to missed sales opportunities and dissatisfied customers, or being stuck with excess inventory, tying up valuable capital and increasing storage costs.
Balancing supply and demand is essential for maintaining a healthy cash flow, optimizing inventory turnover, and ensuring customer satisfaction.
Accurate demand forecasting: Make full use of data to accurately forecast product demands. Analyze past sales data to identify trends, seasonality, and patterns in customer behavior. This helps predict future demand fluctuations and anticipate peaks and troughs in sales. It also helps if you can adapt to changes in market dynamics and anticipate shifts in customer demand. To do that, you need to stay informed about industry trends, emerging products, and competitor activity.
Maintaining optimal inventory levels: Maintaining optimal inventory levels involves several key strategies. Firstly, setting reorder points is crucial. Establish a minimum stock level at which you need to reorder to avoid stockouts. It’s also important to factor in lead times to ensure timely replenishment. Secondly, monitoring stock levels regularly, either manually or using inventory management software, helps you stay aware of inventory levels and make informed decisions. Lastly, and I cannot stress this enough, make full use of data. Using data-driven approaches for order quantities, based on historical sales data, forecasting models, and current demand trends, you can avoid overstocking and maximize profitability by ordering just the right amount.
Concluding Thoughts
Effectively overseeing an E-commerce business demands a strategic mindset and a commitment to continual learning and adjustment. It’s crucial to consistently evaluate and improve your strategies to keep your E-commerce venture competitive and responsive to customer needs in the dynamic online market.
This article has been contributed by Pritesh Mahajan, Founder, Revamp Moto.
The landscape of India’s business world is changing, and it’s changing rapidly. In recent years, sustainability has emerged as a central theme in global business discussions. The urgency to combat climate change and reduce greenhouse gas emissions has pushed companies worldwide to reevaluate their environmental impact. India is no exception. With a growing awareness of the environmental challenges and a commitment to cleaner, greener practices, Indian businesses are taking significant steps towards sustainability.
E-commerce and food delivery giants, in particular, are undergoing a significant transformation as they seek to align their operations with sustainability goals and cost-effectiveness. A key driver of this transformation is the shift toward electric fleets. This concept has become a huge motivating factor that encourages industry leaders to embrace electric vehicles and the profound impact it’s having on the business ecosystem.
Electric vehicles have become a symbol of this sustainability drive. These vehicles are not just environmentally friendly; they also offer substantial cost advantages over traditional internal combustion engine (ICE) vehicles. In India, EVs have garnered increasing attention for their potential to reduce air pollution, decrease fuel costs, and promote energy efficiency.
To put things into perspective, a study by Boston Consulting Group found that the total cost of ownership of a high-speed two-wheeler EV is around 35% lower than the same model with a combustion engine. An electric three-wheeler is 25% cheaper than its diesel counterpart. These numbers alone underscore the economic rationale behind the shift to electric fleets.
Several prominent e-commerce and food delivery giants in India are at the forefront of this electric revolution. Let’s delve into some real-life examples.
1. Zomato: Partnering for a Greener Tomorrow
Zomato, a multinational restaurant aggregator and food delivery company, has set ambitious sustainability goals. In 2022, Zomato partnered with Jio-bp, a joint venture of Reliance Industries and BP, with the aim of electrifying its entire fleet by 2030. At that time, the company already had around 4,000 riders using EVs for deliveries. Zomato’s strategy includes increasing awareness among its drivers on EVs across India and forming partnerships with original equipment manufacturers (OEMs) and leasing companies to accelerate the electrification of its fleet.
Amazon India, a major player in the e-commerce sector, joined forces with TVS Motor, one of India’s largest two-wheeler manufacturers, in 2022. This partnership aimed to bolster the deployment of electric two-wheelers and three-wheelers for last-mile deliveries. Amazon India has set an ambitious target of adding 10,000 EVs to its fleet by 2025, aligning with Amazon’s global commitment to adopt 100,000 EVs by 2030.
3. Flipkart: Pioneering Sustainability
Flipkart, India’s pioneering e-commerce company, has been a trailblazer in embracing EVs. It was the first Indian e-commerce company to introduce electric vehicles to its fleet and join The Climate Group’s EV100 initiative. Flipkart has made a bold commitment to become 100% electric by 2030, marking a significant milestone in its sustainability journey.
4. Swiggy and BigBasket: Delivering Green Convenience
Swiggy, India’s leading on-demand convenience delivery platform, embarked on a green journey by partnering with Taiwanese battery-swapping company Gogoro. This strategic move involved switching to electric intelligent scooters, contributing to reduced emissions and cleaner air. Similarly, BigBasket, an online supermarket based in Bangalore, is determined to electrify 90% of its fleet, demonstrating its commitment to sustainable last-mile deliveries.
5. Maersk: A Global Leader in Sustainability
Mærsk, a Danish shipping and logistics company, recognized the importance of electric vehicles in distribution logistics in India. In August, the company announced its plan to deploy an additional 500 EVs in 26 Indian cities to ramp up electrification in first-mile, middle-mile, and last-mile deliveries. Maersk had already taken the first step in September 2022 by launching electric three-wheelers and four-wheelers in Mumbai.
Technology Driving the Transition
Technology has played a crucial role in facilitating this transition to electric fleets. One notable example is UK-based Saietta’s Vehicle Control Unit (VCU) designed specifically for three-wheeled and four-wheeled light electric vehicles (LEVs). Saietta has partnered with HCLTech to manufacture the VCU in India and deliver over 80,000 units to Indian LEV manufacturers over five years. This partnership underscores the technological advancements that are driving the EV revolution in India.
Government Initiatives and Infrastructure Development
It’s worth noting that government initiatives have also paved the way for the adoption of electric fleets. The ‘Go Electric’ campaign, launched in 2021, seeks to educate the public about the advantages of EVs. Additionally, the FAME II scheme, aimed at supporting the electrification of public and shared transportation, has contributed to the growth of electric fleets in ride-hailing and delivery services.
One of the critical factors behind the success of electric fleets is the expansion of charging infrastructure. Both public and private players have invested in charging stations across the country. This development addresses a significant concern for potential EV buyers: range anxiety. With improved charging infrastructure, EV adoption is expected to accelerate further.
The Road Ahead
As more e-commerce and food delivery giants in India embrace electric fleets, the ripple effect of this transformation is evident. It not only aligns with global sustainability goals but also sets an example for other businesses to follow. The initial investment in EVs may be higher, but the long-term cost savings, reduced emissions, and positive impact on the environment make it a compelling choice.
As Pritesh Mahajan, Co-founder of Revamp Moto, a leading name in sustainable mobility solutions, puts it, “The adoption of electric fleets by e-commerce and food delivery giants is one of the most efficient ways to integrate electric vehicles on the road. It not only increases their visibility but also encourages more people to make the shift to cleaner and greener mobility options. This shift is a win-win, as it not only saves costs for businesses but also aids mobility among the hardworking delivery professionals. It’s a step towards a sustainable future that we can all be proud of.”
The shift to electric fleets by e-commerce and food delivery giants in India is more than a business decision; it’s a commitment to a cleaner, greener, and more sustainable future. With technology advancements, government support, and a growing charging infrastructure, the road ahead looks promising. As these industry leaders continue to lead by example, it’s only a matter of time before electric fleets become the norm in India’s delivery and logistics landscape.
Havas Media report reveals how technology is shaping e-commerce and consumer experience in India. Increased smartphone usage and internet connectivity are providing comfort and accessibility to shoppers across the country.
The recent report- ‘Shaping Consumer Experiences: How India Buys & How Tech is Shaping E-Commerce Adoption & Experience’, published by Havas Media in collaboration with YouGov and NFX across 10 key markets, dug into the core of the Indian e-commerce realm. The report reflected the extensive incorporation of advanced technologies like Artificial Intelligence (AI), Augmented Reality/ Virtual Reality (AR/VR), AI-driven Chatbots, Web 3.0, and Open Networks for Digital Commerce (ONDC) and its pivotal role in facilitating business growth. The study also sheds light on how these technologies are playing a catalytic role in evolving consumer behaviors, preferences, and expectations.
Data collected from tech enthusiasts and online shoppers between 18 to 45 years old revealed that comfort and convenience are more important to both millennials (78%) and Gen Z (76%).
In terms of consumer behavior, gender-based segmentation reflects that women are conventionally more discerning by nature. User reviews have been the major decision-making factor for 85% of consumers while 81% of them check for offers and deals before shopping.
There is also a major change in behavior with a shift in geography from the North to the South. While 78% of consumers in the north and 80% in the west prefer to have a wider range of products, the consumers from the south and tier-3 cities, about 76%, are more budget-oriented. The study also showed that a large number of people from tier 2 and 3 cities end up spending more while shopping online than they would have spent while shopping traditionally.
Number of Annual Online Shoppers in India from 2019 to 2021, With an Estimate for 2027
Category-wise, grocery, personal care, fashion, and F&B are ranked higher in shopping habits. While appliances are the least shopped online products, online medicine/pharmacy shopping has seen a surge of 33% in the last year. The study also showed that social media has emerged as the main platform to discover new brands for 44% of shoppers. The platform is a stronghold in the category where visuals play a pivotal role, like fashion, make-up, grocery, and smartphones. While Instagram has the highest traffic among younger consumers, the older generation is still relying on Facebook.
Comfort and accessibility have been the key elements of online shopping. For the time-crunched urban residents, it brings the shopping experience to the comfort of their fingertips, thus enabling them to avoid the hustle and bustle of the city. On the other hand, it makes it more accessible for the smaller town people, providing them with wider choices and alluring deals. The shoppers are mostly in favor of shopping from top e-commerce websites like Amazon and Flipkart which offer facilities like easy returns, better service, and superior quality products.
Challenges and Concerns
However, the digital advancements still have left the users with uncertainty about the quality of the products. Even data privacy issues have ranked higher among shoppers across most regions barring the North, where there are more concerns regarding returns and limited control over the sellers.
Leadership Insights
Mohit Joshi, CEO, of Havas Media Network India said that the findings of this report emphasized the transformative power of technology in reshaping the retail landscape in India. He also shared that as consumers embrace the convenience and possibilities offered by e-commerce, businesses must adapt to these changing dynamics.
“At Havas, we recognize the significance of these trends and remain committed to innovating strategies that bridge the gap between businesses and tech-savvy consumers. Our data-driven approach enables us to create resonant and meaningful connections, ensuring that brands thrive in this evolving business environment,” Joshi added.
Sanchita Roy, Chief Strategy Officer, Havas Media India, added, “Understanding the nuances of consumer behavior at various city tiers is pivotal for brands to connect meaningfully with their audiences. The insights from this study underline the importance of localized strategies that align with distinct preferences.”
She also added that, as the retail landscape evolves, customization of marketing approaches becomes a powerful tool for capturing consumer loyalty and driving growth.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Bluecore.
Over the last few years, the retail world has witnessed sales shifting from 85% in physical stores to a 50/50 online-offline split, with shoppers migrating to a more convenient, personalized customer experience. Now, over three-quarters of shoppers expects to begin their experience with the retailer via digital channels, no matter whether the ultimate purchase takes place online or in physical stores.
In this new digital-first age, businesses not only need to acquire shoppers but also transform them into repeat customers for long-term growth. So, brand selling on digital channels needs solutions built particularly for e-commerce. Marketing focused on the entire customer lifecycle is key for brands to retain customers and drive revenue.
Headquartered in the United States, Bluecore is a retail marketing technology company revolutionizing how retailers communicate with shoppers. Keep reading to explore everything about Bluecore, from its startup story, founders, and funding to growth, partners, and competitors.
Bluecore is a marketing technology company offering an e-commerce multi-channel personalization platform that is transforming casual shoppers into lifetime customers for the world’s fastest-growing retail brands. The company lets marketers turn data into personalized, revenue-generated marketing campaigns within minutes.
More than 400 customer-focused retailers trust Bluecore to rapidly increase customer retention and drive predictable revenue, including Jockey, Nobull, CVS Pharmacy, GAP, J.Crew Pacsun, Lenovo, City Furniture, and more. The platform has processed 300 billion behaviors, cataloged 500 million products, and driven $11 billion+ in revenue.
Bluecore – Industry
Bluecore serves the MarTech (marketing technology) industry which involves developing and launching platforms, tools, and software applications to enable businesses to automate, streamline, and enhance their marketing efforts. The global market size of MarTech was valued at $338 billion in 2022 and is expected to reach $1,175 billion by 2028, exhibiting a CAGR of 22.2% during 2023-2028.
Some key factors that drive the market include the growing demand for social media management tools, the increasing need to gain a holistic view of marketing efforts and measure the impact of campaigns, and the rising deployment of chatbots. Moreover, social distancing and remote working became the norm during the Covid-19 pandemic, which led businesses to increasingly turn to digital marketing channels to reach consumers.
Fayez Mohamood and Mahmoud Arram are the co-founders of Bluecore.
Fayez Mohamood
Fayez Mohamood – Co-founder and CEO, Bluecore
Fayez Mohamood is the Co-founder and CEO of Bluecore. He earned a B.S. inc Computer Engineering from the New Jersey Institute of Technology and an M.S. in Electrical and Computer Engineering from the Georgia Institute of Technology. Before co-founding Bluecore, Fayez worked as Microprocessor Design Engineer at AMD till June 2008, Software Developer at The MathWorks till September 2011, and as Head of Product at Bigdoor Media, Inc. till January 2013.
Mahmoud Arram
Mahmoud Arram – Co-founder and CTO, Bluecore
Mahmoud Arram is the Co-founder and CTO of Bluecore. He holds a B.S. in Electrical and Computer Engineering from Iowa State University and completed an Advanced Study Program at the Massachusetts Institute of Technology. Previously, Mahmoud was a Software Architect at Allurent, Director of Technology at Redstar, and Engineering Team Leader at Moda Operandi, Inc.
Bluecore Team
Michelle McComb – Chief Financial Officer
Ryan Deutsch – Chief Customer Officer
Sherene Hilal – Chief Product Officer
Pat Deskin – Chief Revenue Officer
Bluecore has over 450 employees.
Bluecore – Startup Story
Fayez Mohamood and Mahmoud Arram co-founded Bluecore in 2013. After working with retailers in a previous role, Fayez realized how difficult it was to set up a simple triggered email. From there, Mahmoud and Fayez developed a patented JavaScript integration that picked retail product attributes and shoppers’ behaviors in real-time to enable marketers to send relevant, timely, triggered emails. With the connection of this retail data at its core, the product evolved and is now famous as a retail marketing platform.
In September 2015, Bluecore introduced Live Segments Email for e-commerce marketers, and in September 2018, it opened its London office to address growing European demand. The company launched Bluecore Site in October 2019. A few years later, in July 2023, Bluecore announced the launch of Transparent identification to provide a complete view of site identification rates.
Bluecore – Mission and Vision
Bluecore mission is to empower commerce organizations to discover their best customers and retain them for life.
Bluecore – Business Model
Bluecore is a retail marketing platform that enables marketers to create personalized marketing campaigns by leveraging shopper, behavior, and product data. With data built directly into marketing campaign workflows alongside point-and-click predictive models, retail marketers can bypass manual processes to trigger any communication and automate the who, when, and where of each mobile site, email, and paid media message for every shopper. Moreover, the platform combines the real-time match of shopper behavior with changing product catalog to give shoppers 1:1 recommendations.
Bluecore offers Bluecore Communicate, Bluecore Site, and Bluecore Advertise, along with Identify and Convert, Execute 1:1 Campaigns, and Increase Repeat Purchases solutions. With the Bluecore platform, retailers can access Email and Mobile Site, Paid Media and Social, Services and Success, and Integrations features.
Bluecore has undertaken 7 e-commerce to raise $238.2 million. Its latest funding round – Series E Round, was completed on August 25, 2021, and secured $125 million. Bluecore conducted its Seed Round for the first time on April 2, 2013, and raised $118K. Market-defining investors who fund the company are FirstMark, Felicis, SilverLake, Georgian Partners, Norwest Venture Partners, and Gaingels.
Date
Round
Number of Investors
Money Raised
Lead Investor
August 5, 2021
Series E
4
$125 million
Georgian Partners
May 26, 2020
Series D
4
$50 million
Georgian Partners
October 4, 2017
Series C
4
$35 million
Norwest Venture Partners
December 2, 2015
Series B
6
$21 million
Georgian Partners
January 22, 2015
Series A
5
$6 million
FirstMark
July 23, 2013
Seed Round
3
$1.1 million
FirstMark
April 2, 2013
Seed Round
2
$118K
–
Bluecore – Mergers and Acquisitions
Bluecore acquired Betaout on October 25, 2018.
Bluecore – Growth
Bluecore achieved a valuation worth $1 billion in August 2021 with funding of $125 million with a Series E round. In May 2020, the company had 236 employees, and by the end of 2021, the number increased to 400.
Bluecore – Partners
Bluecore has partnered with leading strategic technology partners, e-commerce platforms, systems integrators, marketing clouds, agencies, and consultants focused on retailers’ success and best-in-class performance. Some partners of the company are as follows:
America’s Best Startup Employers by Forbes in 2022
EY named Fayez Mohmood in the Entrepreneur of the Year 2022 New York list
Named to 2022 Inc. 5000 annual list of America’s Fastest Growing Private Companies
Crain’s 2021 Best Places to Work in New York
2019 Google Cloud Partner of the Year
Bluecore – Competitors
The below listed are some companies giving tough competition to Bluecore:
Klaviyo
Wunderkind
ActiveCampaign
SuiteDash
Bloomreach
Emarsys
FAQs
What does Bluecore do?
Bluecore is a marketing technology company offering an e-commerce multi-channel personalization platform that is transforming casual shoppers into lifetime customers for the world’s fastest-growing retail brands. The company lets marketers turn data into personalized, revenue-generated marketing campaigns within minutes.
Who are the founders of Bluecore?
Fayez Mohamood and Mahmoud Arram are the co-founders of Bluecore.
When was Bluecore founded?
Bluecore was founded in the year 2013.
Who are the main competitors of Bluecore?
The main competitors of Bluecore include Klaviyo, Wunderkind, ActiveCampaign, SuiteDash, Bloomreach, and Emarsys.
Alibaba, founded by Jack Ma in 1999, has become a global e-commerce empire that revolutionized online commerce. Starting with Alibaba.com, the world’s largest B2B marketplace, the company expanded its services to include C2C and B2C marketplaces, logistics, payment platforms, and cloud computing. With total sales of $1 trillion in 2021 and a dominant market share in China’s e-commerce market, Alibaba is the world’s largest retailer and e-commerce company. Its marketing strategies, known for inclusivity and innovation, have played a vital role in its success. Alibaba’s campaigns, such as the 11.11 Global Shopping Festival, leverage boldness, creativity, and personalized recommendations to cater to its diverse customer base. With over 1 billion annual active consumers and 10 million active sellers, Alibaba’s global reach continues to expand. Through its commitment to innovation and customer satisfaction, Alibaba maintains its strong position in the competitive e-commerce market.
Alibaba targets a diverse global market, catering to various demographics and geographies. Its consumer and business platforms serve a broad range of age groups, genders, and income levels. With a dominant presence in China, Alibaba is expanding internationally, focusing on emerging markets. Convenience, value, and a seamless shopping experience are key for its target market. Personalized features, easy checkout, and hassle-free returns enhance the customer experience. Alibaba’s marketing campaigns are tailored to resonate with specific audiences. Its target market embraces online shopping and new technologies, with mobile optimization and investments in AI and cloud computing. Alibaba’s success lies in its ability to cater to diverse audiences while delivering value and convenience.
Alibaba – Marketing Mix
As one of the world’s largest e-commerce companies, Alibaba’s success can be attributed to its effective marketing mix. The marketing mix is a combination of various elements that a company can use to influence consumer behavior and achieve its marketing objectives. Alibaba’s marketing mix includes four key elements: product, price, promotion, and place.
Product
Alibaba offers a wide range of products and services, catering to both consumers and businesses. Its product portfolio includes consumer-to-consumer (C2C) and business-to-consumer (B2C) marketplaces, logistics and payment platforms, cloud computing, and more. Alibaba’s product offerings are designed to meet the needs of a diverse customer base, with a focus on quality, affordability, and convenience.
Price
Alibaba’s pricing strategy is based on offering value to its customers while remaining competitive in the market. Its pricing is transparent and competitive, with a focus on providing affordable options for consumers and businesses. The company’s pricing strategy also includes discounts and promotions, such as its annual 11.11 Global Shopping Festival, which offers massive discounts on a wide range of products.
Promotion
Alibaba’s promotion strategy is characterized by its bold and innovative marketing campaigns. The company’s marketing efforts are designed to be inclusive and creative, catering to the unique needs of its diverse customer base. Its iconic 11.11 Global Shopping Festival, for example, is a prime example of its promotional strategy, featuring celebrity endorsements, massive discounts, and a range of other incentives to drive consumer engagement.
Place
Alibaba’s place strategy is focused on providing convenient access to its products and services. The company’s online platforms, such as Taobao and Tmall, are accessible through desktop and mobile devices, making it easy for customers to shop anytime, anywhere. Alibaba’s logistics platform also provides a seamless shipping and delivery experience, ensuring that customers receive their orders quickly and efficiently.
Alibaba’s marketing mix is a key driver of its success in the e-commerce industry. The company’s focus on innovation and customer satisfaction has made it a force to be reckoned with in the global e-commerce market.
Alibaba, the Chinese e-commerce giant, has run many successful marketing campaigns over the years, utilizing innovative and creative tactics to engage its customers. These campaigns have helped the company become one of the largest e-commerce platforms in the world, with a reputation for being a leader in the industry. Here are some of Alibaba’s top marketing campaigns:
“Double 11” Global Shopping Festival
This annual shopping event, also known as Single’s Day, was started by Alibaba in 2009 and has since grown into the world’s largest online shopping event. The festival features massive discounts, promotions, and celebrity endorsements, and has been successful in generating huge sales for Alibaba and its merchants.
What is 11.11?
Tmall Super Brand Day
This marketing campaign features a series of promotional events for brands on Alibaba’s Tmall platform. The events are designed to showcase the brands’ products and generate buzz among consumers. Tmall Super Brand Day has been successful in driving sales and increasing brand awareness for participating companies.
Alibaba Cloud’s “Simple is Best” Campaign
This marketing campaign for Alibaba’s cloud computing division focuses on the simplicity and ease of use of its services. The campaign features a series of videos and online ads highlighting the benefits of Alibaba Cloud, such as its scalability and security features.
Alibaba’s “New Retail” Initiative
This marketing campaign is focused on Alibaba’s vision for the future of retail, which involves integrating online and offline shopping experiences. The campaign features a range of initiatives, such as the Hema supermarket chain, which uses technology to enhance the shopping experience, and the Tao Cafe, which allows customers to order food using facial recognition technology.
Alibaba’s Tao Cafe develops an unstaffed concept store
Alibaba’s marketing campaigns have been successful in promoting the company’s brand and products, and have helped establish the company as a leader in the e-commerce industry. The company’s innovative and creative marketing strategies continue to drive growth and engagement with customers around the world.
Alibaba – Marketing Strategies
Alibaba has become a household name around the world, with its innovative and creative marketing strategies playing a significant role in its success. Here are the top marketing strategies that have helped Alibaba become one of the most valuable companies in the world:
Cross-Promotions
Alibaba has partnered with other companies to offer cross-promotions, which has helped the company expand its customer base and increase sales. The company has collaborated with brands such as Starbucks and KFC to offer exclusive discounts and promotions.
Content Marketing
Alibaba uses content marketing to engage with customers and build brand awareness. The company produces high-quality content, including videos and blog posts, that showcase its products and services.
Artificial Intelligence
Alibaba uses artificial intelligence to personalize the customer experience and make recommendations based on customer behavior. The company’s algorithms analyze customer data to offer personalized recommendations and promotions.
Influencer Marketing
Alibaba has leveraged influencer marketing to promote its products and services. The company has partnered with popular influencers on social media platforms like WeChat and Weibo to promote its products and reach a wider audience.
Alipay
Alibaba’s digital wallet, Alipay, has become a popular payment option for customers in China and beyond. The platform offers convenience and security, and the company has used Alipay to offer exclusive discounts and promotions.
Augmented Reality
Alibaba has experimented with augmented reality to enhance the customer experience. The company has developed AR-based games and apps that allow customers to interact with products and make purchases in a fun and engaging way.
Social Commerce
Alibaba has integrated social commerce into its platform, allowing customers to share and promote products on social media platforms. The company has also launched its own social commerce platform, TaoBao Live, which allows influencers to promote products to their followers in real time.
Globalization
Alibaba has expanded its reach beyond China, launching international platforms like AliExpress and Tmall Global to reach customers around the world. The company has also invested in other companies to expand its global footprint.
Customer Service
Alibaba places a strong emphasis on customer service, offering a range of support options, including live chat, email, and phone support. The company’s commitment to customer service has helped build loyalty and trust with its customers.
Alibaba’s marketing strategies have helped the company become one of the most valuable companies in the world. The company’s focus on innovation and creativity has allowed it to stay ahead of the competition and build a strong brand reputation. Alibaba’s continued investment in technology, content marketing, and customer service will undoubtedly shape the future of e-commerce and set new standards for the industry.
These marketing strategies have revolutionized the world of e-commerce and have set a new standard for businesses looking to establish a strong brand identity and build a loyal customer base. Alibaba has used a variety of innovative and creative tactics to engage customers and drive sales.
The commitment to globalization and expanding its reach beyond China is also a lesson for businesses looking to enter new markets and expand their customer base. By investing in international platforms and collaborating with local partners, businesses can establish a strong presence in new markets and reach a wider audience.
Alibaba’s marketing strategies have set a new standard for businesses looking to establish a strong brand identity and engage with customers in innovative and creative ways. By incorporating these strategies into your own marketing plans, marketers and startups can establish themselves as industry leaders and drive success in the competitive world of e-commerce.
FAQs
Who is the founder of Alibaba?
Alibaba was founded by Jack Ma in the year 1999.
What are the services offered by Alibaba?
Starting with Alibaba.com, the world’s largest B2B marketplace, the company expanded its services to include C2C and B2C marketplaces, logistics, payment platforms, and cloud computing.
What is the “Double 11” Global Shopping Festival about?
Double 11 also known as Single’s Day, was started by Alibaba in 2009 and has since grown into the world’s largest online shopping event. The festival features massive discounts, promotions, and celebrity endorsements, and has been successful in generating huge sales for Alibaba and its merchants.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved bySupplyNote.
The global food and beverages market grew from $6,729.54 billion in 2022 to $7,221.73 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. In businesses specific to the F&B industry, customer service is of the utmost importance. And to offer highly valued services, the F&B industry needs to strengthen its supply chain networks. Thus, there is an upsurge in demand for supply chain management in the F&B industry. Along with advances in technology, the supply chain industry is evolving.
SupplyNote provides a full-stack platform for the entire supply chain management process. It helps Food and beverage businesses with inventory management, vendor management, and logistics supply chain needs.
SupplyNote – Company Highlights
Startup Name
SupplyNote
Headquarters
Noida, Uttar Pradesh, India
Industry
SaaS, E-Commerce Platform for Food Businesses
Founder
Kushang, Nitin Prakash, Harshit Mittal, and Abhishek Verma
SupplyNote is a B2B SAAS platform for F&B businesses that provides a platform for end-to-end management of supply chains with an integrated marketplace.
Talking about the long-term vision of the company, its aim is to become the backbone of the F&B supply chain by evolving into a one-stop solution for all supply chain needs – software, service, and marketplace.
In the short term, the idea is to provide a marketplace where merchants can discover suppliers for their raw materials and transact with them, orders from which will be fulfilled by SupplyNote.
SupplyNote – Industry
The global food and beverages market is projected to reach $9,225.37 billion in 2027, experiencing a CAGR of 6.3% from 2023.
The industry has been operating its supply chain using traditional methods (pen and paper) and needs a digital transformation, which SupplyNote intends to bring in. Every F&B outlet suffers noticeable losses due to inventory mismanagement, procurement flaws, etc. For a business that runs on major fixed costs, it becomes more important than ever to maintain the margins. Following the major blow from the pandemic, they observed an accelerated tech disruption in the industry. Therefore, they believe that five years down the line, the industry will be completely digitized in terms of operations.
SupplyNote – Founders and Team
Kushang – Co-founder and CEO of SupplyNote
The founding team has Kushang (CEO), Nitin Prakash (CPO), Harshit Mittal (CTO), and Abhishek Verma (COO). They are a bold, intrepid, highly passionate group of tech-loving geeks, foodies, change-makers, doers, and entrepreneurs who are committed to empowering F&B businesses with technology & innovation.
Four friends from IIT Kanpur came together to build SupplyNote, with Kushang leading the idea, Harshit Mittal leading the technological development, Abhishek Verma leading the Business Operations, and Nitin Prakash leading the Product. During the final year, Adcount Technologies Pvt Ltd was incepted (parent company of SupplyNote).
The company currently has a strength of 75, and they believe in flexible work culture. More than the hours spent in the office, they care about making progress toward the goal. They work as hard as they play. They like people who like to take on challenges and ownership, who are competitive and yet they care about nature. Most of the team comprises foodies. And they love sports.
SupplyNote – Idea and Startup Story
SupplyNote was formerly known as Adurcup. AdCount Technologies was originally founded in 2015 by IIT-Kanpur alumni Kushang, Abhishek Verma, Harshit Mittal, and Nitin Prakash with the idea of monetizing paper cups. Over the period, the company built its network of merchants and started dealing in a variety of supplies. The company was using its own software, which was developed in-house, for managing its supply chain, when a client discussed the requirement of such a solution for their inventory management purpose. The team customized the software as per the client’s requirement, and that gave birth to SupplyNote in 2019, a platform that is actively being used across not less than 2000 outlets today.
SupplyNote – Name, Tagline, and Logo
SupplyNote Logo
The name itself is made up of two words, Supply-Note, which essentially means noting down the supply. They discovered that inventory management isn’t digitized yet in a major part of the F&B industry in India. As they started the mission of digitizing the supply chain, they came up with the name that means recording the inventory data—SupplyNote, for short.
The logo of SupplyNote might look like an arrow pointing towards the top (that signifies growth), but it’s more than that. That arrow is made up of two letters, S and N, which are the initials of Supply-Note.
The tagline of SupplyNote is ‘Fix Your Supply Chain,’ enabling companies to expand into new geographies faster by eliminating the hassle of building supply chains or discovering suppliers. SupplyNote has already solved those challenges for them, making it much easier for companies to scale and explore markets. Hence, the logo represents growth—in numbers, in business, in every aspect.
SupplyNote – Products and Services
SupplyNote is an ecosystem of software and services for the management of Supply Chain for F&B businesses. It has 4 products under its umbrella:
The Point of Sale Solution: Having an exclusive strategic partnership with Posify, SupplyNote offers its customers a platform for the management of sales, such as billing, kitchen management, table management, rider tracking, web ordering, and more.
The Inventory Management / Supply Chain Management Software: Integrated with Point of Sale, SupplyNote IMS takes in the data of sales, and its advanced algorithms break down the sold items into the raw material that has been consumed and updates the inventory in real-time. It also helps with the management of suppliers, the generation of purchase orders, sales orders, and more.
The Fulfilment Services: SupplyNote helps merchants and vendors transact with each other without worrying about operational challenges, as SupplyNote offers warehousing and logistic services (dry and cold) to fulfill supply chain needs.
The Marketplace: A product of SupplyNote that helps merchants discover suppliers and transact with them, getting more options and flexibility on price, payment terms, quality options, and more.
SupplyNote – USP
SupplyNote is the only full-stack platform for supply chain management, as all the other companies are only solving a part of the supply chain and not the entire supply chain.
The clients pay a subscription fee for using the SAAS, while they pay per usage for their fulfillment services. In the marketplace model, they only charge for the fulfillment of delivery (storage and transport) currently and do not charge any commissions from either party.
SupplyNote – Acquiring Clients
Back in 2015 when the company was incepted, the strategy for the acquisition of clients was Feet-on-Street. The team went from door to door, proposing the offerings of the company at that time and built its network of clients. Later, they got great clients who gave us referrals for other clients and word on the streets picked up gradually. Further, in 2019 when SupplyNote was launched, they already were doing business with over 300 clients that showed interest in the software and some of them even turned out to be the first users.
SupplyNote is solving various challenges related to the supply chain and they reach out to every F&B business to discuss the problems they are facing, further contemplating how SupplyNote can solve it for them.
For 100 to 1000, their approach was more linear, with their teammates reaching out to all businesses in the nearby area and pitching them with their propositions. However, as it reached the mark of 1000, they started marketing and taking up branding initiatives, spreading awareness around the significance of digitizing the supply chain, the cost that a good Inventory management software can save, and much more. They are also tying up with companies to provide multiple value propositions to their clients to retain them longer.
SupplyNote – Challenges Faced
One of the earlier products of AdCount Technologies Pvt. Ltd. was Adurcup, an e-commerce platform that was supplying various raw materials to F&B businesses. The challenge was the disorganization of the entire F&B industry at the time, and digitization was yet a foreign concept within the Industry. That is why they decided on solving that challenge, and discovering a bigger opportunity.
SupplyNote – Growth
Since April 2020, the company has grown 12X in GMV and has become the second-largest F&B Supply Chain Company in India (By GMV).
SupplyNote – Funding
SupplyNote has successfully raised a total of $4.7 millionin funding across seven rounds from a diverse group of investors. Among the recent investors are Cogniphy and DSP Family Office, and other notable investors include LetsVenture, SucSEED Indovation, Soonicorn Ventures, Venture Catalysts, SOSV, Artesian VC, and more.
Here are the details of SupplyNote’s funding rounds:
Date
Funding Round
Amount
Lead Investors
July 12, 2023
Series A
$2.3 million
Artesian VC, Venture Catalysts
October 20, 2022
Series A
—
—
October 28, 2021
Seed Round
$1.2 million
Venture Catalysts
October 21, 2021
Seed Round
$667K
—
September 10, 2021
Convertible Note
—
—
October 21, 2020
Seed Round
$600K
Artesian VC, SOSV, Venture Catalysts
February 22, 2020
Seed Round
—
MOX (now Orbit Startups)
SupplyNote – Advisors and mentors
SupplyNote Advisors and Mentors
Yogesh Bellani, William Bao Bean, Vikram Upadhaya, and Apporv Ranjan Sharma are the mentors and advisors of SupplyNote.
SupplyNote – Tools Used in The Company
They use many tools within the company like- Zira, Asana, and Slack to manage work, and Google Suite for emails, meetings, calendars, docs, slides, and sheets. They use Figma for designing, Hubspot as their CRM, MixPanel, and Google Analytics for data analytics and insights, and more.
SupplyNote – Future plans
They are planning to launch a new kind of marketplace in Delhi NCR which they will be expanding across the country shortly.
FAQs
What is SupplyNote?
SupplyNote is a B2B SAAS platform for Food & Beverage businesses that provides a platform for end-to-end management of the supply chain.
Who is the founder of SupplyNote?
Kushang, Nitin Prakash, Harshit Mittal, and Abhishek Verma are the founders of SupplyNote.
When was SupplyNote founded?
SupplyNote was founded in 2019.
What is AdUrCup?
SupplyNote was formerly known as Adurcup – one of the earlier products of AdCount Technologies Pvt. Ltd.
Dev Gupta
