ShopX has announced the launch of ShopX Edge, its chain of technology-powered mobile and electronic stores across the country. With the launch of this programme, commencing from Maharashtra, ShopX aims to establish a new class of omnichannel retailers powered by its digital retail platform, across tier-1, tier-2 and tier-3 India.
The acquisition of GabbarDeals, one of India’s most loved and trusted online & distribution house, has enabled ShopX to move a step further towards taking organized retail beyond tier one India. ShopX is currently talking to selected mobile retailers across the country who want to modernise and digitise their businesses using the ShopX Edge platform.
According to the recent report by Nasscom and PwC, India’s e-commerce market is projected to potentially grow more than fourfold to $150 billion by 2022, which was marked at $36 billion last year.
Three out of every four consumers in the e-commerce market are expected to belong to tier two cities or beyond. ShopX is pioneering a digital retail model using its technology-led platform and has already established a deep operational presence in 300+ towns.
Bangalore-based ShopX, founded by Amit Sharma and Apoorva Jois in 2015, aims to build a highly scalable “Operating System” for retail, aiming to power millions of small merchants and consumers across India and beyond. ShopX’s technology platform is designed to empower the entire retail ecosystem. It works with leading brands across the FMCG, Electronics and Lifestyle categories.
Niraj Raka, the co-founder of GabbarDeals, will be joining the ShopX team as Senior Vice President and Head of Organised Retail. “The growing number of online shoppers in cities beyond tier one makes it crucial for all retailers to expand and reach the next set of shoppers. GabbarDeals envisioned making e-commerce easier for shoppers in tier two and three cities and, by ShopX acquiring us, we are moving a step closer to our vision. A company like ShopX provides the right technology platform and scale to take the e-Commerce industry forward,” said Niraj.
On the acquisition and launch, Amit Sharma, CEO and Co-Founder, ShopX, said “While the retail sector is growing significantly and moving online, it is also important to bridge the gap between the online and offline retail sectors. The launch of ShopX Edge signifies the brand’s foray in organised, omnichannel retail. We are working towards democratizing e-Commerce and creating a retail model for emerging economies which benefits retailers, brands, and consumers.”
Gabbardeals, after successfully driving online and distribution GMV of INR 1000 Crores in 5 years majorly through mobiles and electronics, has established offline stores in Pune and Jalgaon with digitally enhanced features to provide a great experience to consumers. With this acquisition, ShopX will take possession of all GabbarDeals’ assets, including stores and brand partnerships.