Tag: ecommerce

In this insightful interview, Shashwat Swaroop, founder of Marmeto, takes us through the inspiring journey of building a bootstrapped startup into a million-dollar business. He shares the challenges faced in the early days, the strategic decision to focus on Shopify, and how Marmeto became Shopify’s first Plus Partner in India. Shashwat also explains what sets Marmeto apart from other eCommerce service providers, their commitment to customer experience, and their vision for India’s digital growth. Discover how Marmeto is shaping the future of eCommerce by addressing unique challenges and providing innovative, scalable solutions for leading brands.

StartupTalky: What inspired you to start Marmeto in 2017 with a bootstrapped budget? 

Mr. Swaroop: If I’m being completely honest, Marmeto didn’t start with grand ambitions or external funding, it started with a belief. Coming from a modest background in Bihar and moving to Delhi for education and then to Bangalore for engineering, I realised that my true passion lay in entrepreneurship. I dropped out of college to pursue this path, and launched a book-renting portal inspired by U.S. models. Although it didn’t succeed due to financial constraints and unit economics issues in the business model, it taught me crucial lessons about managing a team and running a business. 

When we founded Marmeto in 2017, we had no external funding, no influential networks, and came from a background where every move had to count. Bootstrapping wasn’t just a financial necessity, it allowed us to retain full control and stay focused on delivering real value. Our goal was to help businesses adapt to the rapidly evolving eCommerce landscape in India. Starting small and staying lean wasn’t just about survival—it was about building something meaningful and sustainable from the ground up. We wanted to build something long term, something that can last centuries, beyond us. 

StartupTalky: Can you describe the initial challenges you faced in building Marmeto and how you overcame them? 

Mr. Swaroop: Frankly, starting Marmeto was like setting out on a journey without a map. We didn’t have external funding or influential connections and we came from very modest beginnings. The initial challenges were numerous and daunting. Our first office was a cramped coworking space where only two of us could sit comfortably, the third had to juggle between college and work. Even securing an office was a challenge. We finally found a small space where the biggest perk was unlimited chai and biscuits, which often served as both breakfast and dinner for us. 

Hiring was another significant challenge. We couldn’t offer competitive salaries back then but we were lucky to get some of the amazing folks who believed in what we wanted to build. There have been days that tested us the most, days which made us question our decision of starting up, days where we felt we should be doing something else but all were a part of the journey. 

The eCommerce landscape in India was evolving rapidly, presenting both opportunities and challenges. We saw immense potential to help businesses navigate this shift, but it also meant we had to be highly agile and innovative. The bootstrapping approach allowed us to remain nimble and responsive to market changes without the pressure of chasing growth at all cost. Industry insights show that bootstrapped companies often develop a sharper focus on customer needs and practical solutions, driven by necessity to create real value. 

Throughout these challenges, we were committed to maintaining a culture that respected and valued our team. Even in those early days, we made sure that we are building for the team along with our customers and creating opportunities for their growth as the company grows further. Our team believed in our vision and contributed significantly to our growth. We would not have been able to build Marmeto without them. 

Looking back, those early struggles were integral to shaping Marmeto into the company it is today. They taught us the value of perseverance and the importance of staying focused on delivering genuine value. 

StartupTalky: Why were the main reasons to focus on Shopify, and how has this decision shaped your business strategy? How did Marmeto become Shopify’s first Plus Partner in India, and what does this partnership mean for your company? 

Mr. Swaroop: When we first set our sights on Shopify, we were driven by a vision to bridge the gap between global innovation and local needs. Shopify was already thriving in the U.S., but we saw an opportunity to make a significant impact in India, a market with immense potential but also unique challenges. This decision was rooted in our belief that we could harness Shopify’s strengths while addressing the localised hurdles that Indian eCommerce faced. 

India’s eCommerce market is experiencing unprecedented growth, projected to reach $188 billion by 2025. This growth is fueled by increasing internet penetration, mobile usage, and the rise of digital payments. However, the market also presents complex challenges—regulatory frameworks, diverse consumer preferences, and fragmented logistics create a landscape that requires thoughtful adaptation. We recognized that Shopify, despite its global success, needed significant localization to effectively serve Indian merchants. 

For instance, Cash on delivery (COD) as a payment method was not known to Shopify, being a western company. We worked with them to build for India, bridge the localisation gap, enhance user verification processes and design custom discount structures to cater to India’s price-sensitive consumers. According to a 2023 industry report, eCommerce users in India are expected to reach 500 million by 2026, highlighting the importance of scalable platforms tailored to local demands. 

Our innovative work in addressing these challenges did not go unnoticed. Shopify recognized our efforts and brought us on as their extended tech team to help launch and implement Shopify Plus for their merchants across India. This collaboration was a pivotal moment, leading to Marmeto becoming Shopify’s first official Plus Partner in India later. This partnership was more than a milestone; it was a testament to our commitment to delivering tech-driven solutions and our role as leaders in the Indian eCommerce landscape.

The decision to focus on Shopify has profoundly shaped Marmeto’s business strategy. By solving India-specific issues and scaling businesses on Shopify, we also scaled our own operations. Today, our partnership with Shopify is a cornerstone of our success. We are deeply grateful for the support and recognition from Shopify, including celebratory acknowledgments from their CEO and COO. This fruitful relationship has not only driven growth for our clients but has also been a source of immense pride and accomplishment for us. 

In essence, our journey with Shopify reflects our dedication to innovation and our commitment to meeting the evolving needs of the eCommerce sector. We look forward to continuing this partnership and contributing to the ongoing success of the eCommerce revolution in India. 

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StartupTalky: What sets Marmeto apart from other eCommerce service providers in India? 

Mr. Swaroop: From the beginning, our approach at Marmeto has been deeply rooted in a commitment to solving real-world problems rather than focusing on the competition. Our journey has been driven by a genuine desire to address the unique challenges businesses face in the eCommerce landscape, and this focus is what sets us apart. 

We’ve always believed that solving problems effectively is more valuable than merely keeping an eye on competitors. Our commitment has been to harness the right technology and innovative solutions to meet our clients’ needs. This focus on problem-solving has earned us the trust of major brands like Boat, Mcaffeine, Birkenstock, etc from early on. These partnerships are a testament to our ability to deliver scalable and sustainable solutions. 

We don’t just offer services; we immerse ourselves in the intricacies of eCommerce to provide solutions that are both impactful and sustainable. We prioritise long-term growth and scalability over shortcuts for immediate gains. Our emphasis on sustainable tech practices ensures that our solutions not only address current needs but also support the future growth of businesses. 

Industry insights reveal that businesses that leverage advanced technology and prioritise scalability are better positioned to thrive in the competitive eCommerce space. At the heart of Marmeto’s, is our unwavering dedication to solving commerce challenges with thoughtful, sustainable technology. Our goal has always been to drive genuine progress for our clients, and that’s what we believe sets us apart in the eCommerce world. 

StartupTalky: How does Marmeto enhance the customer experience for brands? Can you provide examples of how you’ve achieved this? 

Mr. Swaroop: At Marmeto, enhancing customer experience is about creating tailored, scalable solutions that address each brand’s unique needs. We don’t offer off-the-shelf tech, instead, we carefully craft solutions that solve specific challenges and align with the brand’s long-term goals. 

We acted like Tech partners to brands than just service agencies. We believe that doing what is right for them is more important than what they want. 

What sets us apart is also our collaboration with various partners—whether it’s payment gateways, logistics providers, specialised service agencies or any other commerce enabler. These partnerships allow us to implement seamless solutions that enhance payment processing, streamline order fulfilment, and improve overall customer satisfaction. By working closely with these agency partners, we ensure that every aspect of the customer journey, from checkout to delivery, is optimised. 

This approach has proven successful. Industry insights show that brands using tailored tech solutions experience up to a 30% increase in customer retention, and our work is a testament to that, helping brands not just meet but exceed customer expectations. 

StartupTalky: What are the key factors that have contributed to Marmeto’s growth from a bootstrapped startup to a million-dollar business? 

Mr. Swaroop: From the very beginning, we knew we were embarking on a journey that would test our limits, but we also knew we had a dream that was worth every challenge. We were not in a hurry to become successful overnight, we were here for the long run. The leap from a bootstrapped startup to a million-dollar business wasn’t just about scaling up, it was about building something enduring and impactful. 

Our success began with a clear vision: to create a lasting company that could make a real difference in commerce. We took a strategic approach, identifying and tackling niche challenges. For instance, when Shopify faced significant localization hurdles in India, we stepped in to bridge the gap by building solutions on top of it to help fight COD frauds, enable local payment partners to serve Indian consumer needs which transformed Shopify into a powerful tool for Indian merchants and helped the platform achieve its product market fit in India. 

Consistency has been our ally throughout this journey. Over the past seven years, we’ve navigated the complexities of the Indian market with a passion for solving commerce challenges, even without extensive marketing. Our energy and enthusiasm for eCommerce innovation have been a driving force behind our growth. 

A significant factor in our success has been our incredible team. We’ve always been committed to hiring people with the right attitude. Our work culture prioritises nurturing talent and offering more than what was initially promised. This approach has been crucial in creating a dedicated team that drives our mission forward.

Industry insights reveal that businesses that maintain a clear vision and invest in their team are more likely to succeed. A study shows that companies with a strong team culture experience 25% higher revenue growth compared to their competitors. 

In summary, Marmeto’s growth has been fueled by our steadfast commitment to our vision, our focus on solving niche challenges, our consistent efforts, and the dedication of our team. We’re incredibly grateful for our journey and excited about the future as we continue to innovate and support the eCommerce landscape. 

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StartupTalky: Can you elaborate on how Marmeto’s technology has specifically impacted the eCommerce success of industry leaders such as ITC, Unilever, and BoAt? 

Mr. Swaroop: At Marmeto, our tailored technology solutions have made a significant impact on industry leaders like ITC, Unilever and BoAt, each at different stages of their journey with us. When BoAt first partnered with us, we focused on building their online presence for a superb commerce experience. As they grew, we helped them build omnichannel commerce experience, unified data flows and a lot more at different stages of the brand. 

For ITC and Unilever, we provided scalable and efficient technology solutions that addressed their complex requirements and supported their expansive operations. Our approach involved integrating Shopify with local payment systems, enhancing user verification to fight frauds, and creating custom discount structures to overcome India’s unique eCommerce challenges. 

Industry insights highlight that businesses using localised solutions experience up to 40% higher operational efficiency and 30% better customer engagement. Our recognition as Shopify’s first Plus Partner in India underscores our successful strategy in delivering impactful, scalable solutions. We’re proud of our role in driving growth for our clients and excited about continuing to contribute to India’s eCommerce success. 

StartupTalky: How does Marmeto’s technology stack contribute to improving online sales and customer retention for brands? 

Mr. Swaroop: At Marmeto, we understand that technology is no longer just an investment; it’s a core driver of ROI. Our approach to the tech stack is always through the lens of how it impacts both the end consumer and the brand’s operational efficiency. We focus on implementing solutions that reduce costs, automate manual processes, and ultimately make the shopping experience more seamless and convenient for customers. 

For example, we prioritise automations that can reduce human dependencies, eliminating manual errors and streamlining processes. This not only helps brands reduce costs but also enables them to focus on growth areas like customer satisfaction which directly impacts the repeat purchases.

On the sales front, we focus on technologies that improve convenience for the consumer—whether it’s through frictionless checkout processes, personalised product recommendations, or mobile-optimised experiences. Studies show that brands leveraging these types of innovations have seen up to a 15% increase in conversion rates, highlighting how essential tech is in influencing buying behaviour. 

To ensure we’re always aligned with brand goals, we conduct regular reviews with different vertical heads—be it marketing, operations, or customer experience. These conversations help us understand their challenges and how tech can solve real problems, from scaling eCommerce operations to retaining customers. Additionally, our Merchant Accelerator Programs help us identify ways to accelerate growth by fine-tuning the tech stack based on specific brand needs. Ultimately, technology at Marmeto isn’t just an enabler—it’s at the heart of driving sales and customer retention for the brands we work with. 

StartupTalky: What are the most common issues brands face in eCommerce, and how does Marmeto address these issues? 

Mr. Swaroop: Brands face a variety of challenges ranging from technology integration to localization issues. Among the most common problems are managing diverse payment offerings, optimising user verification processes, addressing complex regulatory frameworks, and offering region-specific discounts. These challenges are further compounded by the fragmented logistics and diverse consumer preferences that are unique to the Indian market. 

Today commerce is way beyond just having a website. You now have to treat your website as online stores just like you have a retail store. Today, consumers are used to Amazon and Flipkart standards everywhere so everything that they offer to customers should be available on your online store too. The next important thing for all brands is to start solving for Omnichannel customer experience and get their brand ready for Unified commerce. This is a commerce transformation era, similar to the digital transformation era we had in the late 1990s. 

According to a 2023 report, the number of eCommerce users in India is expected to reach 500 million by 2026. With such growth, it’s imperative for brands to have robust, scalable ecommerce infrastructures, and that’s where Marmeto truly excels. 

StartupTalky: How do you see the Indian eCommerce industry evolving in the next few years, and what role will Marmeto play in this transformation? 

Mr. Swaroop: Ecommerce in India is evolving at a high pace and its future looks highly promising, with forecasts predicting an annual growth rate of 18% through 2025. By 2030, we are expected to become the third-largest consumer market worldwide. This highlights the significant opportunities and potential within the country’s eCommerce sector. As the Indian economy expands and consumer spending power rises, along with the full facilitation of 100% FDI in B2B eCommerce and marketplaces, India’s eCommerce landscape is set for continued growth and innovation. 

This presents Marmeto with an unparalleled opportunity to tap into the demand for online presence by brands and enterprises. As a leading commerce enabler, we aim to catalyse this process and scale their businesses thereby scaling eCommerce globally. 

StartupTalky: What are your vision and mission for Marmeto in the context of India’s digital growth and Vision 2047? 

Mr. Swaroop: India’s eCommerce market is experiencing explosive growth, projected to reach $200 billion by 2026. This digital boom aligns perfectly with India’s “Vision 2047” of becoming a global technology leader. In today’s time and age, when eCommerce is booming at a fast pace, any brand or enterprise should have an online presence. But the online journey is not paved with gold. India’s commerce experience has evolved way beyond what we have in Europe or US for in some areas even now, for instance, quick commerce, Dunzo/Genie are the kind of things you don’t find elsewhere even today.

We need to work on other parts of the digital transformation and commerce transformation will be one such important area of it. With ecommerce standing at just 8% of retail today, there is a lot to happen and we all have to work together to make this dream of Viksit Bharat come true. We will continue to enable brands to do commerce the right way and help them build scalable tech solutions crucial for their growth. 

StartupTalky: How do you plan to expand Marmeto’s services globally, and what challenges do you anticipate in this expansion? 

Mr. Swaroop: We have taken baby steps for expansion outside India but too early to comment or share any insights there. 

StartupTalky: What are your goals for Marmeto’s future growth? 

Mr. Swaroop: As we celebrate seven years of resilience and growth in the eCommerce industry, Marmeto is poised to embark on an exciting new chapter of expansion. Moving beyond our initial bootstrapped phase, our goals for future growth are both ambitious and strategic. 

We have consistently achieved impressive year-on-year growth, and as we look to the future, our focus will be on driving exponential financial and market expansion. While our core strength lies in leveraging eCommerce platforms, our focus will be more on helping growing brands solve the omnichannel experience for their customers and make them ready for further scale with Unified commerce. 

Our commitment to innovation in commerce technology remains strong, but we are also strategically broadening our horizons through vertical expansion. This involves exploring new technologies and verticals to ensure that we help brands stay ahead of industry trends and help them leverage the right technology basis on the scale of their business.

On the other end, we will continue to invest further into building an inclusive ecosystem for our team members which can fuel our mission to empower more and more lives as Marmeto grows. 

According to recent industry trends, the global eCommerce market is projected to surpass $7 trillion by 2025, driven by advancements in technology and shifts in consumer behaviour. Marmeto is well-positioned to capitalise on this growth by leveraging our tech-first approach and deep understanding of both local and global markets. 

StartupTalky: How do you stay updated with eCommerce trends and ensure Marmeto’s technology remains up-to-date? 

Mr. Swaroop: Staying updated with eCommerce trends is second nature for us at Marmeto. It’s embedded in our DNA and how we operate. We have all time access to national and global industry insights that highlight key performance areas like customer behaviour shifts, technology innovations, and new business models emerging in eCommerce. For instance, insights show that technology-driven solutions are now responsible for up to 30% increases in conversion rates for many businesses. This drives us to continuously refine our own tech stack to offer more scalable and performance-driven solutions. 

Our in-house R&D team plays a pivotal role, constantly exploring how advancements in automation and cloud infrastructure can elevate our clients’ performance. This proactive approach ensures we’re not only keeping up but leading in providing cutting-edge solutions. 

We’re also closely working with platform leaders like Shopify, BigCommerce, Salesforce etc. to gain deeper insights on commerce behaviour and patterns. 

Above all, we do get the pulse of this industry and that’s natural to us as a team and industry leader.

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