The company is targeting sellers with its new product features like recommendation engine, automated COD reconciliation, upfront freight cost calculator that has helped sellers to shorten their end-to-end delivery time by 20 percent while reducing their freight cost by 30 percent.
Leading logistics aggregator ShipRocket on Wednesday announced that it is aiming at a six fold revenue hike by the end of 2017 with its razor sharp focus on five percent of the entire e-commerce shipments transpiring in India.
It said that the company is endeavoring to achieve more than USD two million revenue by December 2017. The company is targeting sellers with its new product features like recommendation engine, automated COD reconciliation, upfront freight cost calculator that has helped sellers to shorten their end-to-end delivery time by 20 percent while reducing their freight cost by 30 percent.
BigFoot Retail Solutions Pvt. Ltd, the parent company will be at an annualized revenue run rate of USD three million by March-end, of which ShipRocket will contribute USD 0.8 to USD one million.
?We are optimistic about achieving the targets that we have set out for ShipRocket for the current year. The total volume of daily e-commerce shipments ranges from one to 1.5 million, out of which 70 percent is done by the big four marketplaces in India, while 30 percent are generated through e-tailers from their websites or other small marketplaces. To achieve the five percent e-commerce shipments market, we are looking at strengthening our channel partnerships with other seller-focused platforms in India, to ensure that ShipRocket becomes the de-facto platform for any online seller to ship their orders. The channel partnerships we are exploring, range from other vendor-tool players, payment gateways, CRM service providers and more,? said CEO and co-founder BigFoot Retail Solutions Pvt Ltd., Saahil Goel.
ShipRocket processes close to 10,000 shipments per day on its platform and continues to grow the shipment volume at 25 percent on monthly basis.
ShipRocket has already penetrated e-commerce shipment space with its API plug-in into various shopping carts like Magento, Shopify, KartRocket, Woocommerce, Opencart, Prestashop, and marketplaces such as eBay, Amazon, etc.
?We have engineered our product to serve the entire spectrum of sellers, ranging from homepreneurs or hobby sellers to enterprises, retail houses, as well as marketplaces. Depending on the size and volume of shipments, the seller can choose from various plans offered by ShipRocket, as per their requirements. Moreover, all our APIs are now public, and anyone can use them to power their logistics through our platform,? added Goel.
At present, ShipRocket services across 14000 pin codes and intends to cover all 26000 pin codes in India very soon. With the recent launch, ShipRocket now caters to the cross-border trade segment as well, by offering the same automated solutions for India outbound shipments. It also powers end-to-end logistics for BigFoot?s C2C ecommerce platform for unique products Kraftly and a B2B platform for SMEs- KartRocket.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)
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