Nandan Nilekani-backed ShopX forays into consumer sector
By siliconindia | Saturday, 25 December 2021, 09:18 Hrs
Nandan Nilekani-backed eB2B platform ShopX has joined the consumer segment, launching a consumer saving platform. This will permit consumers to discover local stores and offers via the app, and will partner with brands and offline retailers. The app will also enable transactions through the app, allowing customers to earn cashbacks.
“This platform 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,” said Amit Sharma, CEO, ShopX.
The firm has piloted the platform in Bengaluru over the last three months. It has helped the company optimise customer acquisition cost to a few cents and find new ways to engage over 60% of active users through gamification and everyday savings. More than 30% of users carry out monetizable engagements monthly.