Shopclues
The Success Story Of Co-Founder Of Shopclues, Radhika Agarwal

Currently, the marketplace is immerses with many e-commerce options to choose from. There is no doubt that more shoppers have started finding the benefits of using this platform. If they cater to and understand their needs, there is enough scope for online businesses in the future. Shopclues is an Indian marketplace which is owned by Clued By Network Pvt. Ltd. It was founded in July 2011 in Silicon valley by Sanjay Sethi, Sandeep Agarwal, and Radhika Agrawal one of the best female entrepreneurs in India. It is a Gurgaon-based company that claims to have over 600,00 merchants and 28 million products on this platform.

Shopclues — Overview

Shopclues is an Indian online marketplace that is owned by Clue Network Pvt. Ltd. This company established a connection between buyers and sellers. It was valued at US$1.1 million with Tiger Global, Helion Ventures, and Nexus Venture Partners as investors.

Logo And Its Meaning

The logo of Shopclues represents the two strongholds of the brand: comprehensive and trust. It brings a contemporary, simpler, and stronger vibe to the brand. It preserves our image as the most accessible and trusted online shopping partner for real life.

Founder And History

Shopclues was founded in July 2011 by Sanjay Sethi, Sandeep Agarwal, and Radhika Agarwal. The headquarters is located in Gurugram. It is an Indian subsidiary of US-based Clues network Inc. This company founds to provide the best bargain to the people of India.

Shopclues started opening via Facebook in 2011 with a team size of 10 teammates. They plan to provide a buyer with a good deal. They know people in India are always looking for the best bargains. In 2014, the company launched its app and became the country’s first wholesale marketplace. In 2016, Shopclues got a place among the top e-commerce marketplace in India and crossed 100 million visits per month. The same year, the company increased its customers by more than a half-million.

Mission

Shopclues’ mission is to create a robust technology that allows buyers and sellers to transact seamlessly.

Business Model

Shopclues’ business model is the same as another online marketplace. They charge a 12% service fee on every successful transaction and don’t charge any setup fee to the seller. The company targets small businesses like retailers and shopkeepers. The transaction process is smooth, and people with no technical knowledge can sell online through this platform. Shopclues provides support to the sellers through helpline and emails.

Shopclues offers the ultimate platform for small sellers to showcase their products all over India. They deliver the product with more than 30,000 pin codes.

The company spends heavily on its TV commercials for awareness and branding purposes. Their Sunday flea market and Wednesday Super Saver Bazaar are two main traffic pullers for them. They have a huge social media presence with more than 4 million likes on Facebook and over 2 million followers on Twitter. They engage with their audience regularly and also handle queries through these two platforms.

Products

Shopclues sells products under 9 different categories such as mobiles and tablets, electronic, men, automotive, computer and cameras, and many more. With more than 5 lakh sellers all over India, the company has around 5.3 crores of products worth more than 50,000 crores. They deliver the products to 30,000 cities in India with the help of a logistic partner.  The company has 3 fulfillment centers in India.

Revenue And Growth

After its establishment in 2011, Shopclues has become a big name in the e-commerce market in India. With more than 100 million visits every year, more than 5 lakh sellers, and millions of products, they have come a long way with team sizes from 5 to 1000 plus in the last 6 years.

The company has seen an increase of 46% in revenues for financial years 2017-18 at INR 273 crore. They also cut down losses by 40% to INR 208 crore during the fiscal. Their total revenue fell 23.3% to INR 209.46 crore in 2018-19 from INR 273.30 crore in the previous year. Shopclues has seen a growth in their revenue only by 5% to INR 188 crore.

Shopclues focus on high-demand margin products and significantly cut down costs of operation and advertising.  They cut employee benefits expenses to INR 111 crore from INR 120 crore, and advertising and promotional expenses came down to INR 130 crore from INR 143 crore.

Future Plans

Shopclues have a tough time sustaining itself every passing day, and the company’s daily orders have decreased from 60,000 to 30,000. In the last decades, the company has cut costs and stayed away from heavy discounts on products on its platforms

The Success Story Of Co-Founder Of Shopclues, Radhika Agarwal

@ zara

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