April 28 2016, 14.33 PM IST || Pocket News Alert
Shopmatic, an international e-commerce platform that offers an entire ecosystem of selling online, has launched its business operations in Singapore and Hong Kong to help the local entrepreneurs and individuals go digital and sell their products through ecommerce. This is good news particularly for SMEs (Small and Medium-sized Enterprises) who may not have the capacity to invest in technology. The online platform helps in managing the entire ecosystem for them- right from helping them develop their own unique web-store, listing them on marketplaces and social channels to assisting them with insights on how to sell online.
Singapore, as a financial and business management hub, provides a strong digital infrastructure with the highest internet penetration in the region. Industry analysts estimate that three out of every four residents in the country will use the internet at least once a month, a figure well above that for any other country in Southeast Asia. On the other hand, Hong Kong being the world’s ninth largest trading economy with more than 90 per cent of GDP coming from the service sector is the world’s most service-oriented economy. This has created an excellent opportunity for e-commerce companies such as Shopmatic to launch its business operations and services in Singapore and Hong Kong after successful operations in India’s Bangalore and Gurgaon offices. The platform is focused on helping not only the small and medium businesses of the Asian countries to find their feet in the online world but also give these firms global exposure.
Commenting on the launch, Anurag Avula, CEO & Founder of Shopmatic Group said, “The size of the business opportunity in Singapore and Hong Kong is huge. If we just look at Singapore, SMEs take up 99% of all enterprises of this city-state, whereas Hong Kong has more than 3 lakh SMEs. There is a significant base of untapped individual entrepreneurs. We are looking at the market opportunity through three audience segments – existing SMEs that are selling their products but are not online, existing SMEs that are selling their products offline with a minimal presence online or selling through marketplaces and lastly, the big opportunity that sits with Individual entrepreneurs who are yet to realize the potential of doing business online. In addition, our business operation in both the countries will also mean we will be creating job opportunities for local talent.”
Since its inception in 2014, Shopmatic has offered a revolutionary, all-in-one e-commerce solution that enables business owners to build and manage their businesses online, commission-free. This means they do not have to rely on commission-based marketplaces, which can charge up to 15% for each transaction. Shopmatic’s key features include:
Compelling web presence with attractive store fronts;
Seamless integration with local and international payment gateways;
Tie-ups with logistics partners, enabling automated shipping;
Facilitated listing across multiple marketplaces and social channels, such as Facebook;
Organized dashboard with data insights and inventory management;
Simple pricing with no hidden fees. All packages come with a one-month free trial;
A business service providing a platform for ‘Homepreneurs’ offering Beauty, Education, Wedding& Events, Health, Interior Decoration, Real Estate and other generic services
“At Shopmatic, we understand that managing payments are one of the biggest challenges for SMEs and hence we have partnered with PayPal to enable cross-border trade for local business owners, making it easier for merchants to accept payments from customers outside Singapore. We are also offering them an international e-commerce experience at a price point that is very affordable, at just $20 a month. Moreover, they also get free services for 3 additional months for sign up for our 12-month plan. On top of that, all our subscribers get the first month for a free trial period. We don’t charge any additional fees per sale made by the customer. Ours is a SaaS model and average operating costs will come down with our growth in customers,” added Avula.
Currently privately funded by angel investors from across the globe, Shopmatic is eyeing significant investments. After Singapore and Hong Kong, the company now plans to expand its presence to other parts of Asia such as Malaysia and Indonesia by the end of this year and further strengthen its commitment to the region.