E-Commerce In Recent Times Has Become A Bane For Local Vendors. This Startup From Bangalore Is Turning Things The Other Way Round By Empowering The Local Brick And Mortar Companies
It has always been the other way round. Big giants enter the market and destroy the business of local markets. Be it vegetables, be it groceries, be it fashion or any other sector and segment, online business is helping only the people on the other side of the coin. For example: the emergence of super markets have destroyed the business of the nearby subziwalas and grocery stores. They moving to the e-commerce platform has made the local vendors life even more difficult.
Coming to the general public it has become even more worse where they buy things that are available in the next road from a faraway place.
This is the first time ever that I have heard that a startup is working just to empower the local vendors and improving their business. They have targeted the hyper-local category. Yes, it is again e-commerce, but benefiting both sides of the coin. You buy from a place near you and it is most likely that you see the person from whom you buy every now and then. You need not wait for days together to get your order be it food, clothing, vegetables, groceries or any other products.
I am speaking about mynearshop.com a hybrid marketplace that is completely focused on empowering neighbour-hood stores delivering their products to customers doorsteps via online orders and has launched its operation in Bangalore. The website enables customers to order products across different categories namely: Restaurants, Garden, Organic, Fruits and Veg, Medicine, Poultry, and Flowers. book and schedule deliveries for a particular time of convenience, and also allows fast and secure checkout options for payment,
It empowers the neighbourhood retailers (brick & mortar) by providing the strength of technology and business Consultancy thus connecting them with shoppers online. the main advantage of hyper-local service over e-commerce is that it enables the growth of the economy in a de-centralised manner. Moreover, the asset-light model always makes it (mynearshop.com) favourite for prudent investors.
The Basic idea of mynearshop.com is to empower independent retailers, who have a physical presence, to have a web-store, which allows them to connect better with modern consumers, to enable the same mynearshop has developed many premium services which will help vendors having web store with myneareshop.com improve their visibility online.
Mode of Operation
The business model of mynearshop.com is different from most e-commerce sites, as they do not believe in completely relying on transaction-based revenues, which are the way to go in the grocery category at the moment.
Mynearshop.com Do charge a very limited fee a flat rate on the total sales happening make revenues by taking part of the margins made by the Vendors; rather, they have created a number of premium services that are offered to brands. These services are in various genres like advertising options, on and off the platform, data analytics and business consultancy, IT consultancy.
Mynearshop.com does not disrupt the existing business practices and thereby ensures no escalation of costs. It is thus asset light and cost light as well.
Asset-light Model: The name is self-explanatory, This particular model does not require heavy assets for its operation, your complete focus needs to be only on improving the technology platform which is the only major asset that the system possesses. This makes it easier to adapt and manoeuver for the ever-changing and spontaneous market.