- June 1, 2021
- Posted by: sai@itcg.ca
- Categories: Funding trends, Innovation
Nothing unusual about it as this is symptomatic of the pains which >1 crore SMBs are facing across India due to continued onslaught by e-commerce giants like Amazon & Flipkart.
But,in parallel, our internal analytics also threw out some numbers which surely will not be usual to many especially in these tough times.
Approx. 18000+ mainline mobile SMBs registered themselves on Innoviti’s Platform for providing better deals and offers to their customers in joint collaboration with banks and brands through G.EN.I.E- Smart Marketing app (Innoviti’s SAAS platform)
Now you must be wondering why we don’t think this behavior is unusual to us at all.
Because it very clearly correlates the insight of what we see across india’s SMB sector when they are touch based by Innoviti’s teams on daily basis . Be it our customer support team, Market research teams, Channel team or our front end SROs. These all capture and feed this angst of mainline retailers/SMBs, which is same across length and breadth of India- be it Metros like Mumbai, Delhi or Tier 1/2/3 towns like Mysore or Guwahati, in our analytics engines to understand and offer better product solutions through our SMB platforms.
And all of the above shows that Crux of the matter is that SMBs are in dire need of technology solutions which can help them fight the online onslaught. They think they have a strong fighting spirit against the invaders and only lack tech amunination which if available to them will create a unique level playing field and its game on from there onwards.
More on the above sometime later but coming back to the point on how e-commerce is actually being helpful. Yes, helpful is not wrongly mentioned here. Its helping by
· Building the undercurrent of rebellion and fight back spirit amongst >1cr SMBs across India
· Shaping a parallel ecosystem requirement of Platforms & Tools a possible USD 5 Billion opportunity
· Making the end consumer more aware and more demanding at retail point
· Creating new whitespace opportunities which have not been explored before
And this data clearly will filter the winners from the laggards and we are already on it.
Innoviti, based on these insights, is targeting to acquire 100000 mainline mobile retailers by the end of Q3. We have already built and tested our platform for this segment of merchants and have seen strong adoption in Bangalore & Mysore.
Merchants have been able to log in 23% higher sales due to Innoviti’s – Geometrically Enhanced Neural Intelligence Engine aka G.E.N.I.E
Innoviti, basis its leadership in the Enterprise segment and because of its new age tech backbone, is uniquely positioned to champion this space. Its analysed Terabytes of data to build credible consumer understanding and hence is now putting end consumer at the centre of its SAAS solutions as this end consumer is the pivot for success of brand, bank & Merchant ecosystem – who have to fight this onslaught together or all will perish !!!!