SIKCO (Society of Innovation, Knowhow for Conservation & Optimisation)’s retail arm FacilityIndia is testing its mega products and services based e-commerce among its selective clients before the commercial launch of its e-commerce venture by the year end, targeting the strategy to be India’s largest and widest e-commerce with widest range of products and services and value addition.
The grocery and retail app is made available to the public for testing and will be launched before diwali and orders made on the app will be fulfilled by local merchants, people aware of the matter said, requesting anonymity.
SIKCO’ entry into the Indian e-commerce market, will be remembered for its Make in India platform and making a true 360° marketplace for all products and services and truly India’s largest, may shock the online retail industry that is dominated by US giants, at present. While food and grocery is the largest consumption category in India, accounting for two-thirds of India’s retail market, online sales in this category are still restricted to the top cities. Facilityindia will penetrate to all cities and appointing 700 + District level franchisee across India.
Facilityindia product portfolios -
1. Retail Shop Digitalisation (RSD)
2. Small Business Digitalisation (SBD)
3. Corporate Product Promotion (CPP)
4. Entrepreneurs Development Program (EDP)
5. Channelising Service Professionals (CSP)
6. Wallet Pay Services (WPS)
Key verticals of the platform –
1. Retail Shop Digitalisation (RSD) - Registration of all small format physical retail shops and stores. Get paid clients, advertisements, Manage catalogue.
2. Small Business Digitalisation (SBD) - Small businesses need to be online to remain competitive, accessible 24x7, to keep or increase growth rate. As competition being fierce, online presence will give a huge leverage. This category includes hospitality, education, IT & Telecom, Transportation etc.
3. Corporate Product Promotion (CPP) - Corporate who have business based on products with dealers and retailer, may be greatly benefited with dedicated selling platform for each retailer. FacilityIndia will segregate Locality, Taluka and District for each dealer to minimise overlapping of business. Facilityindia can offer thousands of such dealers and retailers to use the platform.
4. Entrepreneurs Development Program (EDP) - The cost effective large retail formats unable to reach online clients even by mega store. The micro entrepreneurs (employs of less than 10 people), can start business in few hours registering products from such retails like D-mart, Reliance, Trent, Birla Retails, Big Bazaar, Shoppers Stop, Titan, Godrej, Provogue etc and deliver such product to client.
5. Channelizing Service Professionals (CSP) - There are hundreds of skilled service professionals are available across society and mostly are unorganized or not listed for Service providers. These sections like cook, carpenter, mason, accountant, artist, instructor etc. are the area to be taken care of by registering them.
6. Wallet Pay Services (WPS) - FiPay wallet will work as a independent close loop wallet and will offer all types of bill pay and booking services. This will help customers to minimise inconvenience maintaining multiple logins with multiple websites. Facilityindia.com is one stop destination. It is a truly mega marketplace, India ever had.
“Though it may little challenge the position of existing e-commerce majors, but this will also attract new online buyers who want value additions, which will be good for the segment."
“We believe taking the vast small format physical store network (Planned 1,00,000 + stores) facilityindia will get an edge to implement the mega platform testing in india for first time"
For this e-commerce venture, SIKCO plans to sign on Traders, Local merchants, SMEs, Professionals, Service provider boosting their sales through what is known as the P2D (Physical to Digital) marketplace, the business model is conceptualised by Mr. MILTON SIKDER, a CEng, a technocrat and serial entrepreneur.
Under the P2D model, a consumer searches for the product or services online and buys it through an offline physical channel very close to him/her. He/She will have multiple choices to choose right merchant and see products or service catalogue or price range. He may directly talk with him (Live Chat) and place orders once satisfy.
SIKCO’s plan is to consolidate all merchants under a single e-commerce platform across India including farmers. The merchants, in turn, will cater to the demand, supply mostly in the same day or within hours. This way facilityindia will help client to save time and assurance of products availability with shortest time. Facilityindia will help merchants to get local order as well as order from the areas currently outside the traditional purview of e-commerce companies.
Large business house or SMEs who deals products, may also sell their product under 100% payment protection models. This will help all sellers and buyer comfortably doing transaction staying at distance and do a risk free business.
It is estimated the share of online retail business in India will increase to about 8% by 2030, with the total size at $170 billion. This implies a 21% compound annual growth rate (CAGR) for online retail business over FY18-30 E, versus 15% CAGR over FY18-30 E for physical organized retailers. Over the same period, it expects the overall retail in India to grow by 9% as unorganized players lose market share," said Jefferies India.
SIKCO, having a 200% YOY growth over past 04 years, presently having order booking of 15 crores worth project. SIKCO kept 100% equity on the retail e-commerce business and awaiting working fund from Axis Bank and reputed Investment Banker to keep the growth rate in coming years. SIKCO employs 40+ people and targets a revenue of 100 crores in 02 years.