In a country like India, the e-commerce industry has been on the rise expected to become the second-largest e-commerce market in the world by 2034. The e-commerce market is expected to reach 13,97,800 crore by 2027. The small e-commerce startups and companies, amidst the e-commerce giants, have had to find the critical marketing gap to come up big and impact the market. These companies have opened up vast markets for micro, small and medium-sized enterprises.
Among the emerging names in the e-commerce sector is DealShare, which started in 2018 in Jaipur. Founded by the group of five young entrepreneurs Vineet Rao, Sourjyendu Medda, Sankar Bora, Rishav Dev and Rajat Shikhar, DealShare is a fast-growing online buying platform for multi-category consumer products. DealShare focuses on the new ‘WhatsApp first’ approach in India.
DealShare, in addition to making it easy for customers to buy products, also makes it possible for them to share deals with their friends. It has introduced a new retail model in which customers get cheaper rates and discounts depending upon the number of people purchasing the products. They offer products ranging from fruits and vegetables to home decor.
Looking at DealShare’s fast-growing trajectory, Analytics India Magazine got in touch with DealShare’s Vineet Rao, Co-Founder, CEO & CTO, and Rajat Shikhar, Co-founder & CPO for our column, Deep Dive.
How Far Has DealShare Come In Current Industry Scenario
Just over a year old, DealShare has grown to over 25 cities in an industry which has gone through its own cycle of investments and growth with few assets created for unit economics.
The company believes that the logistics costs on poor existing infrastructure and high user retention discourage the sustenance of the long term projects.
DealShare is looking at these problems with the e-commerce industry, including the critical issue of communicating the solutions which have been imported from the developed countries.
The Tech And The Team At Work
To generate on-demand responses and functionality for its customers, DealShare uses Java, PHP, AngularJS to build their websites and the popular Java & ReactNative for their applications.
Currently, in two locations, DealShare is always on the lookout for personnel with sound technical skills and the right temperament to fit their fast-paced environment. The balance is an essential aspect to their hiring because they also actively recruit/look for well-experienced candidates in data science to deal with their e-commerce solutions with general business awareness.
With a 25 members engineering team and nearly 25,000 transactions per day, they will soon have a training model and are already setting up the data infrastructure required to build applications around machine learning and data.
DealShare’s Products And Services
DealShare’s platform focuses on making it easily accessible for product discovery of catalogue, attractive pricing and offers for tier 2 or 3 audiences. The app used by these audiences has support everyday languages which makes it easy for them to interact with the platform.
DealShare employs gamification and games to keep the audience engaged, which makes it easy for the people who are new to shopping. DealShare works with a lot of WhatsApp automation and referral mechanism to acquire users, enabling social sharing among the audience. According to the company, it is striving to provide better unit economics by driving operational efficiency and supporting innovation on logistics, especially on the last mile.
Customer Feedback And Competitors
To achieve customer satisfaction, DealShare has focused on metrics and data on an hourly and daily basis. They have actively placed means to collect, analyse and disseminate customer feedback effectively across the organisation.
As far as competitors go, DealShare doesn’t have any direct competitors in the online sector. Their focus on supply and logistics perspective in the local ecosystem is hard to match with, and they are laced with the right technology which gives them stable functioning across high geographical level.
As for the future, DealShare plans to reach more customers and more cities. They intend to implement better social and sharing mechanisms. DealShare will be coming up with more refined and better catalogues for consumers in order to gain more trust and get them to use their services more and more.