| Editor’s Synopsis:
· Out of $800 Billion retail market, 97.5% is offline. · DealShare is aspiring to command 5% of market in Jaipur by end of 2020. · Indian retail market is one of the fastest growing retail markets in the world · According to IBEF, India is considered world’s fifth largest global destination in the retail space. |
Jaipur, August 14, 2019: Jaipur-based e-commerce retail start-up, DealShare, runs on a group-buying platform that focuses on offering select popular goods at a much-bargained price. It is largely inspired from the model of China’s Pinduoduo, which motivates users to buy in groups and also it promotes sharing the product offers with friends and family members, who are then tempted to buy the products and like this, the chain goes on and on.
Within only first year of its existence, DealShare has furnished more than 1 Million orders where remarkably 80% of its orders have come from tier 2 cities and mainly average and middle-income groups. Building a strong client base in cities like Jaipur, Kota, Ajmer, Sikar, Ahmedabad were the key centers to focus on grocery and general household demands.
DealShare has received astonishing success to this social e-commerce startup, Mr. Vineet Rao, Founder & CEO – DealShare says, “We are thrilled with the success and trust that people are showing on our platform. On one hand, where we are helping small merchants, manufacturers, businessmen earn and gain popularity; we are also focusing on offering amazing discounts when one buys together with friends.” Along with this Vineet also mentioned that “Dealshare has successfully created a low cost, highly efficient, and an innovative in-house logistic model that serves the mass population profitably.”
Talking about the Interface Mr. Sourjyendu Medda, Founder & CBO – DealShare says “We have made sure that we have a simple interface and we tried to cut short the language barrier due to which we have our app in English, Hindi, and Gujrati, and I believe, that is one of the big reasons why we are gaining a lot of popularity in tier 2 population, along with that we are creating more and more user engagement by DealShare WhatsApp group integration where we send regular exciting deals. We are committed to get amazing deals and discounts to our consumers in the future as well.”
Vineet further added, “The Company has raised $3.4 million from Matrix Partners, Falcon Edge, Omidyar Network and angel investors who believed in our model and now we are aggressively expanding outside Jaipur.”
DealShare rewards its user base a number of times depending on how frequently they share a deal with their friends and family who are further enticed to buy. This system encourages its users to buy more and earn more incentives while sharing a deal with their acquaintances. Founded in September last year by founding team of the experienced entrepreneurs namely Vineet Rao, former Microsoft techie; Sourjyendu Medda, former head sales, Metro Cash & Carry; Sankar Bora, former Co-founder & VP operations, Myntra; later there were two new additions, Rishav Dev, former founding team member, Grofers; RajatShikhar, Chief Product Officer, Foodpanda and product leader, Jabong.
DealShare has reportedly doubled its sales with about 8000 orders per day delivered in Jaipur.
With this substantial pace of growth in Tier 2, 3, 4 markets, DealShare is looking at 5% of market share in the same by the end of 2020.
Corporate Comm India (CCI Newswire)
