More Than 600 Local Manufactures Grew by 10X by Partnering with DealShare
Mr Vineet Rao, Founder & Chief Executive Officer, DealShare, said, “At DealShare, apart from offering our customers with quality products at an affordable rate, our objective has been to uplift local SMEs and MSMEs.
DealShare one of the fast-growing social e-commerce brands in the country has not only transformed the way Bharat shops but they have also become the platform that regional manufacturers look forward to. True to their ideology of being vocal for local they have been instrumental in helping more than 600 regional manufactures across the state of Rajasthan, Gujarat, Maharashtra and Karnataka scale their growth. The association with DealShare has helped these brands to expand their market reach and thereby witness growth. In fact, some of the brands associated with DealShare have witnessed a 6X growth in their sales in the last one year, despite the COVID induced crisis.
Sharing his views, Mr Vineet Rao, Founder & Chief Executive Officer, DealShare, said, “At DealShare, apart from offering our customers with quality products at an affordable rate, our objective has been to uplift local SMEs and MSMEs. “Vocal for Local” has been at the heart of our operations much before it had become a national buzzword. Right from day one, more than 70% of our merchandise has been from regional brands. Today, we have more than 600 regional brands on board DealShare, selling their products through our platform. For some of the brands, the sales/revenue through DealShare is close to 25% to 50% of their overall revenue.”
DealShare is currently partnered with close to 800 brands of which 70% are local brands. The company is also planning to add more add 700+ more indigenous brands to their portfolio by 2021 of which about 80% will be SMEs and MSMEs.
“At DealShare, our mission is to ease the life of our customers by offering the same simplicity and comfort that they feel while buying from their neighbourhood Kirana store. Be it the assortment of products or the display or the price point, our efforts have always been to make our customers feel comfortable and this association with local manufacturers has helped us to achieve that further. Our plans to further extend our local manufacturers network is strongly aligned with the Government’s Make in India vision”, states Mr. Sourjyendu Medda, Founder, Chief Business Officer and Chief Financial Officer, DealShare.
Elaborating on the growth, Mr Arun Karnani from Shree Ram Papad Pvt. Ltd, who is one of the first few manufacturers to have tied up with DealShare, said, “The association with DealShare has helped us tremendously. From being sold only in Rajasthan, now my products are being sold to households in various cities across Gujarat, Maharashtra, and Karnataka. Apart from helping me reach a wider customer base, the sales have been growing significantly due to DealShare.”
Founded in September 2018, DealShare has established itself as a key social e-commerce player, a concept that utilizes e-commerce and social media to help customers to avail noteworthy deals and discounts on their daily-use products while encouraging group buying. Today, DealShare app, which is available on Google Playstore, has more than 15 lakh installs and the product portfolio includes items like grocery, personal care, home care, electronics fashion etc. From catering to about 20 orders in a week, they now cater to 25,000+ orders in a day.
“We are one of the few e-commerce players who have always focused on up-lifting Indian MSME and SMEs. Our growth trajectory looks extremely promising as we have already recorded a 7X y-o-y growth and are expecting to break even on CM2 (contribution margin) in 3 to 6 months and on EBIDTA in 1.5 to 2 years. Our current GMV run rate is INR 300 crore per annum and we expect to reach INR 7000 crore by FY23 – 24”, adds Medda.
A pioneer of e-commerce 2.0, DealShare takes pride in making e-commerce reach the heart of India. Currently, DealShare is present in 20+ cities and towns across Rajasthan, Gujarat, Maharashtra, Karnataka and they plan to reach 100 cities pan India by end of FY 2021.