ShipRocket, a logistics aggregator owned by BigFoot Retail Solutions, is aiming at a 6-fold revenue hike by the end of 2017. With its sharp focus on 5 percent of the entire ecommerce shipments transpiring in India, the company is endeavouring to achieve more than 2 million dollars in revenue by December 2017.
The company is targeting sellers with its new product features like recommendation engine, automated COD reconciliation, upfront freight cost calculator that has helped sellers to shorten their end-to-end delivery time by 20 percent while reducing their freight cost by 30 percent.
BigFoot Retail Solutions, the parent company will be at an annualised revenue run rate of 3 million dollars by March-end, of which ShipRocket will contribute 800,000 to a million dollars.
Saahil Goel, CEO and cofounder of BigFoot Retail Solutions that owns ShipRocket, said “We are optimistic about achieving the targets that we have set out for ShipRocket for the current year. The total volume of daily ecommerce shipments ranges from 1 to 1.5 million, out of which 70 percent is done by the big four marketplaces in India, while 30 percent are generated through e-tailers from their websites or other small marketplaces.
To achieve the 5 percent e-commerce shipments market, we are looking at strengthening our channel partnerships with other seller-focused platforms in India, to ensure that ShipRocket becomes the de-facto platform for any online seller to ship their orders. The channel partnerships we are exploring, range from other vendor-tool players, payment gateways, CRM service providers and more.”
ShipRocket processes close to 10,000 shipments per day on its platform and continues to grow the shipment volume at 25 percent on monthly basis. ShipRocket has already penetrated ecommerce shipment space with its API plugins into various shopping carts like Magento, Shopify, KartRocket, Woocommerce, Opencart, Prestashop, and marketplaces like eBay and Amazon.