Snapbizz –The consumer retail segment has witnessed rapid growth in terms of digitization of MSMEs in 2020. This was fuelled by the current covid era which brought in new opportunities in the retail sector specially for Kiranas. As a result, over a million Kiranas have gone digital in recent months and their stores have gone online by accepting online payments, ordering supplies online, managing inventory, etc. The technology cover now enables them to leverage their strengths like proximity, personal touch, and flexibility further to acquire new customers effortlessly.This year our SnapBizz team has succesfully helped neighborhood Kiranas gear up efficiently to compete against the larger ecommerce players in this industry. Kiranas have always been facing intense competition from major e-commerce grocery players who are aggressive in their campaigns to capture market share. The entrance of big players in the FMCG sector has been another cause for concern among them. However as it was evident, it was the Kiranas who provided a lifeline to the country when the lockdown struck with the Pandemic. This renewed trust in the neighbourhood kirana by people also prompted them to lembrace digitization to further enhance their relationship with customers. We see this as a positive trend and will only see wider adoption of technology by kiranas at the grass root level in 2021. By Prem Kumar, Founder & CEO, Snapbizz.
Maneraa –Covid-19 has brought about a dramatic and permanent shift in consumer shopping behavior in e-Commerce. The consumer today has become more cost-conscious and is investing increasingly in affordable fashion. We have also observed that customers from tier 2 and tier 3 cities who were previously reluctant to do online shopping now enjoy the perks of digital retail. On Maneraa’s website this year, we have seen consumers opt for pocket-friendly fashion with a willingness to experiment with new and relatively unknown brands. Though we are amongst the new players in the space, the customer response this season has given us great confidence especially with the spike in demand from tier 2 and 3 cities. It’s very likely that these trends are here to stay even after COVID as these are new customers who have joined the fray and they will only increase their usage as per industry norms. Looking ahead into 2021, we expect E-commerce retail to rise to 7% as opposed to the previous 1.6% thanks to the newfound demand and transforming consumer behavior. ‘ By Shabna Salam, Founder & Director, Maneraa.
Shoptimize –In the past years, online stores typically saw a rush only close to the festival days of Dussehra and Diwali. This year saw a longer shopping period as shoppers started buying earlier. With COVID putting a dampener on travel and socializing plans, shoppers probably anticipated going online to shop and decided to avoid the last-minute rush. Stores also started showcasing their festive offers early on to increase sales and conversions. The 30 day Diwali sales period saw a 484% increase in the online store visitors and sessions. While sales hit their peak on 23 October 2020, the entire three months of September to November saw heightened activity and sales. At Shoptimize, for our clients, D2C eCommerce has become a critical channel, growing from 10% (previous FY) of overall eCommerce to 40% (current FY). There has been a GMV growth of 250% from festive season sales alone this year. In general, our clients have seen a GMV growth of 400% post covid. The various categories which witnessed this massive growth post-covid are fashion & apparel which saw a GMV growth of 150%, food & beverages a growth of 500%; and appliances & electricals a growth of 400%. – Mangesh Panditrao, CEO & Co-founder, Shoptimize
