Business Wire India Having made a significant impact to over 2 lakh retailers across India with its eB2B model, ShopX has now launched its Consumer-centric value discovery and transactions platform which connects brands and small retailers directly to consumers across multiple categories.
Key features of this platform:
Partners with brands and offline retailers
Allows consumers to discover local stores and offers via the ShopX app,
Enables consumer transactions through the ShopX app to avail exclusive discounts and earn cashback at local stores and through partner brands
This new model has been successfully launched in key locations across Bangalore. Within 3 months of pilot dry run, the new ShopX app experienced a significant growth of 800%, with more than 40% of new signups coming through customer referrals. This new model has helped ShopX in two significant ways: Optimizing Customer Acquisition Cost to a few cents and finding ways to engage over 60% active users through gamification and everyday savings. More than 30% of users carry out monetizable engagements monthly.
Some of the key advantages for the customers using the ShopX app include finding the best offers at nearby offline stores, earning cashback every time they shop, leading to guaranteed savings every month. In doing so, the customers get to support the local retailers and physical stores that have faced the brunt of the pandemic over the last year.
Explaining this model, Amit Sharma, CEO and Co-Founder, ShopX, said: “We all love everyday savings, and Savings and Cashback apps have consistently worked in all parts of the world. In India, we saw a unique opportunity to integrate the world of offline retail into a compelling Savings SuperApp for more than 100 Million people. This platform also presents a great opportunity for brands and retailers to connect directly with consumers, marketing directly to them and getting incremental demand in return. Our intent-based and data-driven marketing and transactions platform provides unparalleled targeting and Direct-to-Consumer reach at a fraction of the cost of comparable options. We believe that this is the new marketing model of the post-pandemic world. Our Bangalore launch has shown incredible resonance and engagement on both the demand and supply side.”