Bye e-commerce, hi video commerce
Video-commerce can be the next big thing in India. A startup from Noida is already building India’s first.
Video-commerce can be the next big thing in India. A startup from Noida is already building India’s first.
Brief:
Ezmall from Noida is building a video commerce business. It started in 2017. Essel, which also owns ZEE network, has invested INR 105 crores approx.
It uses video to explain the products. It aims to imitate the practice of touching and feeling the product before buying.
It maintains its own inventory, unlike e-commerce players, who are marketplaces.
How does video help?
Customers from tier 2 and tier 3 cities ( 10 crore users approx.) trust the content in local language. Videos in local language builds trust faster than English language.
It mimics the practice of touching the product before buying it. No other e-commerce firm focusses solely on videos.
How is it doing?
It broke even in July- September 2018 quarter. During Diwali, they shipped over 750,000+ units.
Customer returns are below 4 percent. Repeats are close to 30 percent.
It grew five times since April 2018. It aims to grow ten times in the next year.
It’s competitors are Meesho from Bengaluru and Shopmatic from Delhi-NCR.
What are others saying about it?
NDBJ Insight:
It seems to be a Zee venture. Ezmall is registered in Mumbai. It’s email is Essex Group’s id. Also, CEO isn’t amongst the listed directors.
Ezmall uses Zee’s TV network to generate demand. Hence, the video comes handy.