E-commerce enabler Shopmatic has waived its hosting fees to encourage Indian small and medium enterprises to go online with the platform.
Shopmatic is encouraging small businesses to take their retail operations online ahead of the traditionally lucrative festive season with numerous incentives, ET Bureau reported. The move is part of the business’ plan to onboard five million customers over the next couple of years by offering a wider product selection.
“Our transactional model, that entailed Rs 50 hosting fees and 3% of every successful transaction, was launched with an understanding of Indian entrepreneurs and their preferences,” said Shopmatic’s CEO and co-founder Anurag Avula in a statement, the Economic Times reported. “We are inviting all businesses and entrepreneurs to go online and get Shopmatic’s omni-channel features to maximise their business growth. They pay only when they earn.”
The new initiative, “will contribute to the growth of India’s burgeoning SME landscape, propelling aspiring business owners towards online growth and success,” according to Avula.
Shopmatic offers four different models for businesses to retail online comprising chat selling, marketplace selling, web-store selling, and marketplace selling and covers product categories including garments, accessories, and food products. The business reported 80% growth in transactions and gross merchandise value over the most recent financial quarter.
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