In recent years, India has witnessed unprecedented growth in the economy and entrepreneurs are playing a dynamic role in it. Supported by government initiatives, India now has one of the largest startup ecosystems in the world and is home to around 63 million MSMEs. The startup sector contributes nearly 30% to the country’s GDP. With thousands of startups expanding and new entrepreneurs emerging, efficient logistics and end-to-end shipping solutions have become extremely crucial.
Shiprocket, an eCommerce enablement platform understands the dynamic logistics needs of Indian entrepreneurs and strives to empower MSMEs by catering to their requirements. With end-to-end solutions ranging from warehousing, marketing, domestic and international shipping to financial support, we have streamlined the eCommerce journey for 3,00,000+ businesses. But how?
MSMEs and budding entrepreneurs face multiple challenges when it comes to eCommerce but Shiprocket strategically resolves all of them. Let’s learn more about it.
How does Shiprocket resolve eCommerce roadblocks for MSMEs?
While eCommerce presents an expansive opportunity for entrepreneurs, the journey of starting and scaling a business comes with its own challenges.
- Lack of Finance: One of the early struggles that any MSME faces is securing finances when starting or scaling their business. While banks often require high collaterals and heavy documentation, small business owners continue to struggle. High operational costs from online payment platforms often escalate the issue. With Shiprocket Capital, entrepreneurs can apply for an unsecured loan without equity delusion. We understand the value of time for startup founders and therefore strive to provide quick approvals, and fast dispersal in 7 days to simplify financing.
- Supply Chain Complexities: Entrepreneurs often find themselves juggling between supply chain processes including inventory management, warehousing, packaging, and last-mile delivery. The inability to manage the supply chain efficiently often leads to financial losses caused by stockouts, overstocking, delays in shipping, higher return rates, and damaged shipments. Shiprocket Fulfillment is a comprehensive solution for all MSMEs to streamline all B2B and B2C operations. With 35+ fulfillment centers and a unified management system, entrepreneurs can easily control their inventory, lower their RTO losses, and fulfill their orders smartly.
- High Shipping Costs: Unlike large enterprises, startups function on a dynamic order volume and often end up incurring higher shipping costs making it difficult to offer lower pricing for their products. International shipping rates escalate the issue, leading startups to refrain from expanding their brands to their fullest potential. Shiprocket resolves this challenge for MSMEs by onboarding third-party courier partners for domestic, international, and hyperlocal deliveries.
- Customer Acquisition and Retention: With thousands of sellers emerging in the same product categories, MSMEs face competition in attracting new customers and retaining them. Digital marketing and advertising require significant investments which small businesses cannot afford. Shiprocket has multiple marketplace integrations to ensure that businesses get visibility in domestic and international markets. Shiprocket Engage 360 is built for customer retention through Whatsapp marketing and reduces the chances of RTO, offers personalised and automated upselling of products, and customer support.
- Global Expansion: Made-in-India products are in high demand in international markets including the US, UK, Canada, Germany, and more. The potential in these products is immense but many MSMEs refrain from taking their brands global because of the logistical and regulatory constraints. To address this problem, we came up with ShiprocketX, an end-to-end cross-border solution for all global eCommerce needs. From launching their brands on global marketplaces, and making bulk shipments to delivering across 220+ destinations, ShiprocketX caters to all eCommerce requirements of MSMEs.
Growth Stories of MSMEs With Shiprocket
eCommerce is an ambitious endeavour that every entrepreneur takes. Shiprocket has enabled the business growth of over 3 lakh merchants. Let’s take a look at two of them.
- Stitch N String, a soft home textiles brand founded in 2018 joined hands with ShiprocketX to expand their brand globally. Before ShiprocketX, they were suffering from limited market reach, had low tracking visibility, faced untimely query resolution, and were working with a single courier partner. With ShiprocketX’s end-to-end shipping solutions, Stitch N String scaled their monthly order volume from 20 to 200. But how? With us, they could choose from 5+ courier services, reach 220+ destinations, get access to 24/7 dedicated account support, and 100% end-to-end tracking.
- Pimpom Ventures, a handmade haircare brand is well-known for serving over 100K customers. However, they were constantly facing lower engagement rates, growth opportunities, product visibility, and higher cart abandonment rates. With Shiprocket Engage, Pimpon Ventures streamlined their orders using targeted campaigns, smooth automation, and quick-click purchases on WhatsApp. This led to a revenue boost of over 25% with 7x ROAS and a 25% cart recovery rate.
Startups are an evergreen ecosystem in the Indian economy. With the right support and solutions, MSMEs can scale far and wide. Shiprocket truly believes in the potential of every small and medium business and strives to become their trusted partner in their entrepreneurial journey.
