Flipkart’s social commerce platform Shopsy has grown fourfold in terms of revenue during the festive period as compared to the non-festive season, the company said in a statement on November 30.
The growth in October was led by categories such as fashion, beauty, home and general merchandise.
E-commerce companies ran festive sales during October and November in a staggered manner.
While Flipkart did not comment on specific numbers, according to sources, Shopsy hit the $100 million mark last month on the back of festive sales. Moneycontrol has also learnt that Flipkart has set a GMV target of $1.5 billion for Shopsy alone by the end of 2022.
Launched earlier this year, with Shopsy, Flipkart aims to take social commerce to a different level. The app allows anybody on social media to become a reseller of products featured on the online marketplace and earn a small commission.
The e-commerce platform hopes to popularise online shopping among the growing community of internet users in the country.
There are likely to be 900 million active internet users in India by 2025, as higher adoption takes off in rural areas. Individuals spend almost three hours a day on the internet, mostly messaging, social media networking and watching videos. Online shopping is barely in the cart of these people, the reason being lack of trust and technical complexity.
"With the next 200 million digital consumers coming from Tier 2 and 3 cities, we want to build a community that truly democratises commerce in the country. The social commerce landscape in the country is evolving at a fast pace, and with Shopsy we are building a sustainable platform backed by our technology prowess. Small businesses and sellers see immense benefit on what Shopsy as a platform has to offer them -— ranging from zero commission to free shipping facilities," said Prakash Sikaria, Senior Vice President, Growth and Monetisation, Flipkart.
The company has 2.5 lakh sellers on the platform who provide 150 million products across 250 categories. It is on track to enable over 25 million online entrepreneurs by 2023.
Shopsy competes with Softbank-backed Meesho.
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