Flipkart’s e-commerce arm Shopsy to reach 100 million users in 2022

Flipkart’s e-commerce platform Shopsy, which was launched last year, is reportedly aiming to reach 100 million users this year, becoming one of the largest platforms in the country. The COVID-19 pandemic accelerated consumers’ shift from offline to e-commerce shopping at a higher frequency, particularly on Shopsy.

Prakash Sikaria, the Senior Vice-President at Flipkart, cited that they are on track to hit 100 million users by the end of 2022. Shopsy has grown roughly four times through the first quarter and by year-end they expect the e-commerce platform to contribute a notable share to Flipkart’s unit growth.

Flipkart has more than 350 million registered users in its database, out of which 70% of customers hail from tier-2 & tier-3 cities. Flipkart hopes to increase this to 90%with Shopsy.

Sikaria claimed that around 50% of Shopsy customers are new to online shopping. He added that the company is planning to maintain about 30-40% month-on-month growth for the rest of the year.

It is worth noting that the top Shopsy categories include furniture, lifestyle, books & general merchandise, mobile, and home during the first quarter of 2022. Meanwhile, Andhra Pradesh, Madhya Pradesh, Uttar Pradesh, Odisha, and Delhi are the top regions where the platform has generated the highest revenue.

In December 2021, Shopsy integrated the grocery category with a focus on e-grocery purchases by the community and offering a flat 5% commission margin. Its grocery segment covers over 6000 products across 230 categories ranging from FMCG, staples, and other dry grocery goods, and serves more than 5800 pin codes in 700 cities.

Interestingly, Shopsy has witnessed a 3x rise in its monthly active user base, giving the rivals a run for their money.

Topping the charts with over 30 million downloads, the platform has a registered seller base of 250,000 which Flipkart is intending on enhancing to 25 million by 2023 by bringing innovative ad experiences for both brands and sellers.

Source Credit:

https://www.business-standard.com/article/companies/flipkart-s-social-commerce-arm-shopsy-may-hit-100-mn-users-this-year-122041700661_1.html