India, August 1, 2022: StoreHippo, SaaS-based eCommerce platform is all set to launch an ONDC-connected marketplace Mystore (https://www.mystore.in) to facilitate SMEs to make the most of the ONDC network launched by the Indian government. Currently, in its beta phase, Mystore offers a 360-degree solution for hyperlocal businesses and SMEs planning to foray into the digital commerce ecosystem and reach new customers pan-India.
Mystore is a step towards truly democratizing ecommerce in India. Ecommerce has grown significantly in recent years but it is still a small portion (7%) of overall retail commerce. Mystore presents a cutting-edge solution to accelerate E-Commerce adoption for 48 million SMEs present in India. Mystore not only irons out the difficulties in starting the SMEs online journey but is also structured in a way that it eliminates the high cost/commission barrier which oftentimes eats away the profits.
With the ONDC network, any buyer can be connected to any seller or service provider thus doing away with the monopolistic ecommerce market dominated by bigwigs like Amazon and Flipkart. However, SMEs will need the best tech partners to register their online presence on the ONDC network and streamline their digital operations, fulfilment and supply chain. As the leading SaaS Indian Ecommerce platform with 120+ built-in integrations, 300+ inbuilt features and a host of tools, StoreHippo empowers Mystore® with an enterprise-grade fully integrated platform that solves these challenges and offers a one-stop solution to SMEs.
Mystore’s basic model will include zero fixed cost and charge a minimal transaction fee per order while offering a highly scalable, mobile-first, secure (PCI compliant, ISO27001 certified) infrastructure that only big players have access to. Sellers will be able to sell through the ONDC platform and also have their independent online stores to build their brand identity. With support for 100+ languages, conversion-oriented UI/UX, customizable themes, multi-store feature, integrated logistics solutions etc. Mystore is designed to offer a level playing field to SMEs while competing with ecommerce giants on the ONDC platform.
Highlighting how the Mystore launch will help SMEs, Mr. Rajiv Kumar Aggarwal, Founder & CEO, StoreHippo said, “The pandemic-induced digital adoption has put Indian eCommerce in a hyper-growth phase. The Indian ecommerce market is expected to be worth $200 billion by 2026 and SMEs need to have their fair share in this growth. ONDC is going to open up immense opportunities for SMEs and StoreHippo’s Mystore.in is designed to enable SMEs to make the most of this opportunity. StoreHippo has been enabling and accelerating digital transformation of brands across the globe and now we want to leverage the same experience and expertise to help SMEs build, run and grow their business online independently as well as via ONDC.”