India’s e-commerce sector has evolved into a diversified ecosystem of marketplaces harboring a proliferating number of consumer brands and a rapidly growing customer base. The digital evolution of commerce added over 40 million retail buyers in India, in 2021 alone! At present, a critical challenge for the e-commerce industry entails managing profitability in the face of growing competition, while adopting and enhancing business strategies for expansion, accelerated growth and margin protection.
Finding significant patterns and insights has become practically difficult without algorithms due to the complexity of modern eCommerce, which has produced a tsunami of data in terms of volume, variety, and velocity. The coexistence of multiple marketplaces that brands need to collect their data from can be a highly labour intensive process as data remains siloed. E-commerce is yet another sector at the cusp of technological advancements, and here are four tech brands with intriguing solutions, making a difference for businesses by enabling them to thrive in India’s digital economy:
1. Graas (Growth-as-a-Service)
Graas uses predictive AI to equip brands with automated eCommerce recommendations that impact their bottom line, driving profitable growth. For instance, a brand sells 50 SKUs across 2 countries through three channels, using 3 different advertising mediums, that translates to the need to make and execute 9000 decisions every month. Traditionally, these data sources are siloed, which makes meaningful analysis extremely labour intensive and prevents brands from gaining meaningful insights.
To combat this, Graas created its “Growth-as-a-Service” solution, which combines conventional data silos with an AI engine that uses machine learning. Consider that this would operate as an organizational data scientist. Predicting trends is the data scientist’s final outcome, which in this case is the AI. These trends are used to provide brands with timely insights and actionable recommendations.
Established in 2006 and led by Silvio Kutic, Robert Kutic and Isabel Jelenic, Infobip leverages natively built technology through its platform to provide omnichannel engagement, identity, user authentication and contact centre solutions for businesses and partners, allowing brands to enhance consumer communications to grow businesses and increase customer loyalty. Its proprietary technology is IoT-enabled, spread across 190+ countries and connected directly to over 700 telecom networks.
The brainchild of Anshuk K Aggarwal and Robin Mittal, AdYogi was founded in 2015 and is a marketing platform built exclusively for D2C e-commerce brands that helps them optimise marketing budgets to achieve the best sales performance. The platform additionally enables brands to create ads of pre-defined categories (such as bestsellers, etc.) at the click of a button. Using location-based data from smartphones to build algorithms, AdYogi utilises analysis to predict incomes of individuals to use for marketing purposes. AdYogi has also partnered with Facebook and Google in India, and is one of the first Indian brands to have become a Google Premier Partner. It aims to serve over a thousand D2C customers by 2023.
Upscalio is a platform that acquires and invests in e-commerce businesses that sell on Amazon, Flipkart, other marketplaces and their own websites. A prominent player in the e-commerce roll-up industry, offering fast and hassle-free services backed by a team of experts with a deep knowledge base and rich experience, led and founded by Gautam Kshatriya, Faaim Khan and Nitin Agarwal. The company was founded in 2021, and plans to leverage big data and AI in the future to forecast profitable growth across sourcing, quality control, logistics, finance and compliance.