Small businesses or more formally the Medium, Small and Micro Enterprises (MSMEs) have proved to be major contributors to the Indian economy (26% of the national GDP) and propellers to diminish the employment woes of the nation. However, they have also been one of the worst struck in the wake of COVID-19 as consumer purchasing behaviors changed drastically – to an extent of an almost crash-landing.
Imagine an 80 year old man struggling to keep his small business afloat because customers feared getting out of their homes, and eventually having to sell it all away. There have been numerous registered as well as unregistered MSMEs that could not sustain themselves after the pandemic struck. However, some courageous and lucky ones that did survive also faced a number of hassles like reduced demand, acute shortage of manpower, lack of marketing and coordination with nodal agencies and not being up-to-date with technology, along with a major shrinkage in revenue.
A noticeable number of small businesses took the timely risk of shifting themselves to the internet, a risk that majorly paid off for many of them and justified the investment. Some rented out their own space on the internet while some took support from already existing setups like Amazon, Flipkart, Swiggy, Dunzo etc. Flashback alert: I particularly remember the extent of my happiness when I saw my neighborhood grocery store on one such platform towards the end of the first lockdown. Digital platforms helped the small businesses to access a wider market, however, technological incompetence posed a challenge to many, specially in Tier1 and tier2 cities.
But this is where Instamojo came into picture, helping small businesses go online with minimum effort. Their customers have the option to choose from creating their own online stores (complete with marketing, payment gateways, shipping etc.) or simply go with the flexible payment solutions they offer. Their shipping solutions help small businesses to send packages all over the country with the D2C model, enhanced with package tracking and competitive pricing.
Shifts in the consumer and technology landscape over the past few years have made it imperative for small businesses to move online. As the D2C model becomes an effective solution to catalyze recovery of businesses in the new normal, we are pleased to partner with our logistics solutions providers to further empower entrepreneurs and business owners on our platform. Post the launch of the beta version of our e-commerce solutions, we received tremendous response from merchants across the country especially from the non-metros. With our step towards facilitating seamless logistics, we hope to see businesses scale further and faster with Instamojo.”Akash Gehani, COO & Co-founder, Instamojo
Instamojo recently partnered with few of India’s prime logistics solutions providers – namely Shiprocket, Pickrr, iThink Logistics and Shipyaari – to enable their customers achieve seamless logistics experience through the festive season. The move was a result of the increased demand for logistics services in the past 8 months and they plan to expand their network to more than 29,000 pincodes all over India with the aim to connect various small business with courier partners.
Instamojo’s e-commerce platform offers merchants the tools to build and manage their own business website, along with other integrated services which include digital payments, logistics, instant pay-outs, access to credit, marketing tools and CRM for business to gain visibility. Merchants can opt for the “The Do it for Me (DIFM)” feature where Instamojo’s tech experts take charge of building a merchant’s website to provide a hassle free experience.
Early 2020, Instamojo acquired GetMeAShop (GMAS), an e-commerce enablement firm backed by Times Internet, and closed its Pre-Series C round of funding in the later part of 2020.