The online platform that operates on a SaaS model, claims that it will allow small businesses to flourish by helping them manage the entire ecosystem for them- right from developing their own unique web-store, listing them on marketplaces and social channels to assisting them with insights on how to sell online.
Commenting on the Shopmatic Group launch, Anurag Avula, CEO and Founder says, “With more than 3 lakh SMEs operating in Hong Kong, the city promises tremendous business opportunities for a significant base of untapped individual entrepreneurs.”
“We are eyeing three segments of audiences– existing SMEs that are selling their products but are not online, existing SMEs that are selling their products offline with a minimal presence online or selling through marketplaces and lastly, individual entrepreneurs who are waiting to realize the potential of doing business online. In addition to that, our business operations in Hong Kong also mean we will be creating job opportunities for local talent.”
Shopmatic believes that SMEs in Hong Kong are reputed for extensive global sourcing connections, brand credibility and innovation. A digital platform can help them build on these advantages to expand their businesses by tapping into the rapidly increasing world of e-commerce.
“As the popularity of online shopping among domestic and overseas consumers continues to grow, cross-border e-commerce is becoming increasingly important and many companies in Hong Kong, especially those who belong to the SME category tend to lack a comprehensive understanding of e-commerce presence, sales, and marketing. This makes it difficult for them to develop successful online platforms,” noted Avula.
Avula further revealed that Shopmatic would provide its customers all of the necessary apparatus to step on the digital platform at $20 a month. The first month would be considered as a trial period with no any additional fees per sale made by the customer. Shopmatic has also partnered with PayPal to enable cross-border trade for local business owners, helping merchants to easily accept payments from customers outside Hong Kong.
Currently, privately funded by angel investors, Shopmatic plans to loop in more investments to expand its presence to other parts of Asia such as Malaysia and Indonesia by the end of this year and further strengthen its commitment to the region.