Sanjay Kaul who headed the India Apple operations since 2016 till he quit in 2017, has recently floated a new social commerce startup platform serving the General Traders ecosystem dealing in mobile smartphones and accessories, based in Gurugram, India.
Indian smartphone market revenues are pegged at Rs 2000 crores per year and growing, thanks to small vendor shops dotting all across the country. These shops which also sell low-end mobiles devices to smartphones, however, need professional support and assistance in the form of the in-store experience, digital enablement, business transactions, customer, social and other services that are not easily accessible by them.
Former Apple India Head Sanjay Kaul’s Startup for Smartphones & Accessories General Traders
Thus, Kaul’s new venture named SOFYX will offer seamless eCommerce connect between mobile reseller community along with other stakeholders like telecom operators, device manufacturers, distributors, and other vendors.
In an official communique, Kaul said, “Our estimates show that general trade in India sells over $12 billion worth of mobile phones a year. In the next five years, this business will grow to about $16 billion a year as feature phone market transitions to smartphones. There are more than 300,000 general trade shops selling mobile phones in the country and they are spread out in every nook and corner of India. Sofyx will enable a significant number of these stores by partnering with them as their single point technology partner.”
Indian smartphones market is definitely looking up, and with the likely advent of 5G technology in the coming times, demand for smartphones via these small vendors and businesses will definitely need the necessary upgrade fueling the ambitious Digital India dreams.
Sofyx also aims to improve customer retention and drive footfall to these small retailers, according to Kaul.
Do you feel Indian markets are mature enough to induct social commerce platforms companies SOFYX to drive general traders marketplace? Are small Indian mobile and smartphone vendors smart enough to hook on to the new business support ecosystem? Any guesses?
Image Credit: Sofyx.com