In Pakistan, the market of e-commerce is growing rapidly. Pakistan is becoming popular in world for the vast e-commerce business like Alibaba the giant in e-commerce and due to this many of the foreign investors are also start taking participation in investing towards the e-commerce industry of Pakistan. (Meet Shopsy, Google for online shopping in Pakistan, n.d.)
Recently the Black Friday sale become very popular and gives the huge business for 1 billion PKR to local e-commerce stores. This trend of Black Friday also gives big chances for new entrants in e-commerce market. It can be predicted that in 2017 e-commerce local industry turns the business of $600 million. (Meet Shopsy, Google for online shopping in Pakistan, n.d.)
There are numerous different factors which are strongly contributing towards the growth of e-commerce market of Pakistan. Nowadays people are connecting to internet more than ever before. Next few years will bring internet penetration to the economy of Pakistan by touching the amount of 56 million. This trend is becoming popular due to increase in trust factor developed by huge e-commerce stores for on-time delivery and supplying trusted products. The procedure of delivery is also very good with respect to trust factor.
Pakistan e-commerce market still needs a lot of effort for growing at that potential where the international stores are in present. After that they will be able to provide perfect shopping experience like in international stores. There is a big issue in shopping at local stores for people like they don’t provide with every option available at the same platform. The major problem with the people of Pakistan is that they are not well aware with most of the online shopping platforms thus they find it difficult to grab a diversified variety in their specified price range. This is the main issue Shopsy is trying to overcome.
Let say someone wants to buy Samsung Galaxy S7 Edge, but he/she not truly know the specification and price ranges of that similar other smartphones. So from where they got the comparison between the different products of same price range. Here Shopsy, a “Google for online shopping” plays its role. Shopsy is co-founded by Usama Arjumand who actually realized the lack of products choice in online stores of Pakistan upon arriving Pakistan after 10 years from UK. He then decided to improve the shopping criteria of online stores in Pakistan by partnering with Akhtar and Saad having diverse combination of specialization. This startup is trying their best to tier on the lack of brand loyalty among the shoppers in Pakistan for attaining best deals. (Meet Shopsy, Google for online shopping in Pakistan, n.d.)
Shopsy is aiming to provide its customers with different products in the same price range. These products are the combination of the vast variety available at different e-commerce stores in Pakistan. The website of Shopsy have efficient crawlers at the backend which attains relevant data from different Shopsy partner sites and tends to display all the relevant results in a single window so that the customer can easily compare between different brands. It will provide ease in searching different products for customers who are not well aware with all the new trends in markets of Pakistan.
Since their beta launch last year in November, Shopsy focused on creating a seamless search engine with the core focus on streaming the user experience. Shopsy is currently claiming as the fastest search engine among all the e-commerce websites in Pakistan. The algorithms run by Shopsy are using 14 various factors. Its database includes more than 100,000 different products and 20 partners sites with which they are working in affiliate market. Once Shopsy successful in affecting a customer for shopping they will get some fix percentage from those partner business sites.
Telenor velocity is truly beneficial for those customers by giving them access to 40 million data analytics and Telenor subscriber’s best fits for targeted marketing. Within the five months of joining Telenor Velocity, Shopsy observed a remarkable increase in the bustle of their site. Shopsy hunted exclusive deals via advertisements on Wowbox. As an outcome of this the orders of price PKR 1400,000 were being placed on Shopsy and with this there is a growth of 10,000 monthly visitors have been observed.
Shopsy is currently focusing on increasing its user experience. The main aim of Shopsy is to become largest support system and marketing channel for local online stores and it can only be achieved if they are able to increase number of customers on their site. Moreover Shopsy is currently focusing on seed round from various investors. The huge amount of their initial investment get conserved for marketing campaign and trapping potential customers. If everything will go according to plan then it will surely proves to be beneficial for Shopsy in terms of getting organic reach on their website and making it number one online shopping platform in Pakistan. At the end of the first year post investment Shopsy confidence to grasp their target of 2.8 million yearly visitors and 300,000 monthly visitors. (Meet Shopsy, Google for online shopping in Pakistan, n.d.)