Started out in 2011 as India’s first fully managed marketplace, ShopClues has gained a firm foothold in the e-commerce space and is counted among the top 5 marketplaces in India. In such a short span of time, the company has built India’s largest community of merchants for an e-commerce portal in India. ShopClues’s winning mantra is innovations to enhance the overall online shopping experience for both consumers and sellers.
In the year 2014, ShopClues forayed into online wholesale retail business. It opened the doors to its WholeSale marketplace, which gave buyers the benefit of purchasing bulk quantities at very attractive wholesale prices, it also gave wholesale merchants an avenue to take their business online for buying or selling. The company also launched its first-ever creative TV ad, conceptualized on the “Whoelsale Rate” phenomenon, with its punchline echoing “Wholesale ka rate”.
Heading towards the customer-friendly approach, ShopClues announced the exclusive launch of Cash-Before-Delivery(CBD) payment option to serve the purpose of cash-dependent customers in tier 2-3 cities.
However, in the mid 2014, it also introduced unique e-tailing format of Factory Outlet – the perfect destination for purchasing popular brands at affordable prices. The company also revamped its website and mobile app to a savvier user interface and experience. It also unveiled its new logo to reflect its strong market position.
With the recent funding of $100 million (Rs 620 crore) led by Tiger Global along with the company’s existing partners Helion and Nexus Venture Partners, ShopClues now values at $350 and has joined the likes of Flipkart, Snapdeal and Amazon. These investments are the reflection of the confidence the investors have put in ShopClues.
The company is now focusing on mobile space as it is going to be one of the major revenue generator in the coming years. ShopClues has also joined long-tail-retail to enable the smallest of sellers to become a part of the e-commerce revolution. The company continues on its growth journey and aims to be one of the leading online portals in India.
This can only be achieved with the support of its strong merchant base of more than 1,00,000 small and local sellers. Merchants are the backbone of an online business and ShopClues understands and takes pride in it.