Flipkart-owned Shopsy discount e-marketplace grows rapidly

Since initial launch in 2021, Shopsy has become an important driver of initial customers to an  Indian e-commerce giant that is majority owned by Walmart.

Shopsy, a value-focused e-commerce platform owned by Flipkart, contributes to over 40% of first-time customers to the overall Flipkart group. (Walmart led a $1.2 billion financing round in July 2020 to obtain a 77% majority share in Flipkart.) The U.S, discounter also made a strategic joint investment with Flipkart into Indian agricultural supply chain technology platform Ninjacart in December 2021.

Over the past year, the platform has seen its growth triple in number of units, customers and sellers. And in March 2023, Shopsy crossed over 175 million app downloads.

Since launching, Shopsy has grown its assortment to 150 million products spanning more than 800 categories for customers across India. Seventy percent of its customers are from Tier II and III regions in India, with more than 60% of the products in its assortment costing an average of $2.43.  

Other interesting statistics and facts about Shopsy’s rapid growth include:

• 90% of new Shopsy customers are under 35 years old.
• In the past quarter, Shopsy has expanded its reach to 350 new pin codes (similar to ZIP codes in the U.S.), and is now delivering to cities such as Ghazipur, Cachar, Hamirpur, Una and Pratapgarh.
• Men’s wristwatches have emerged as the site’s fastest-growing product, with demand growing by over 75X the past quarter. Additionally, jumpsuits, trimmers and mobile covers saw more than 3X growth individually.
• Apart from these two standouts, more than 4,000 product categories – including men’s vests, kid’s t-shirts, women’s kurtis, camera tripod stands, fitness grips and hair accessories – have all shown positive growth.

“Shopsy is a story of an aspiring India, a population keen to make the most of its smartphones, high data speeds and fast-rising incomes. We at Shopsy are delighted to see the strong growth and heightened participation of customers across the country,” said Kapil Thirani, head of Shopsy., in a Walmart corporate blog post. “Shopsy is designed to provide value for budget-seeking customers, combined with an extensive selection and easy accessibility across all serviceable pin codes of India. This has made Shopsy one of the most preferred online shopping destinations for shoppers as well as sellers in the country.

Headquartered in Bentonville, Ark., Walmart Inc. operates more than 10,500 stores and numerous e-commerce websites in 20 countries. With fiscal year 2023 revenue of $611 billion, Walmart employs approximately 2.1 million associates worldwide.