ST Bureau
New Delhi
Founded in July 2015, Shopholix,
a mobile app, curates the offline shopping options available near customers
based on their profiles and preferences. It is your offline shopping partner
which tells you the 3 Ws– What to shop, When to shop and Where to shop from! It
enables shoppers to locate, explore and plan their shopping trips.
Interestingly, it serves you relevant curation and timely shopping feeds. The
best part about this app is that you are notified about the related trends
offered by the stores near you. Shopholix allows you to virtually browse the
latest fashion and stay connected with your favourite stores.
a mobile app, curates the offline shopping options available near customers
based on their profiles and preferences. It is your offline shopping partner
which tells you the 3 Ws– What to shop, When to shop and Where to shop from! It
enables shoppers to locate, explore and plan their shopping trips.
Interestingly, it serves you relevant curation and timely shopping feeds. The
best part about this app is that you are notified about the related trends
offered by the stores near you. Shopholix allows you to virtually browse the
latest fashion and stay connected with your favourite stores.
The current version of
mobile app brings you to the city of Mumbai – where you can discover malls,
markets, stores, products, exhibitions, boutiques and much more.
mobile app brings you to the city of Mumbai – where you can discover malls,
markets, stores, products, exhibitions, boutiques and much more.
The company was
founded by Hemant Upadhyay, former Managing consultant at Hay Group and now CEO
of Shopholix; Abhinav Midha, former director at Food Intellect, Pvt and now
Chief Business Officer; and Chinmay Bhatt, founder of Indiyra and Chief
Marketing officer at Shopholix.
founded by Hemant Upadhyay, former Managing consultant at Hay Group and now CEO
of Shopholix; Abhinav Midha, former director at Food Intellect, Pvt and now
Chief Business Officer; and Chinmay Bhatt, founder of Indiyra and Chief
Marketing officer at Shopholix.
In an exclusive
interview with Startup Terminal; Chinmay
Bhatt, Chief Marketing officer at Shopholix
shares more insights about the app and future goals.
interview with Startup Terminal; Chinmay
Bhatt, Chief Marketing officer at Shopholix
shares more insights about the app and future goals.
Excerpts:
ST: What was your inspiration behind starting up a new
venture?
venture?
Chinmay Bhatt: The evolution of technology
and consumer has explored many opportunities. Over the last 2 decades, we have
seen this wave of evolution moving up and down. Out of the couple of waves we
have witnessed in our lifetime, e-commerce was the recent one and it came at
the right time for us. We observed the wave carefully sitting on the fence and
as billions of dollars were invested, making it the biggest wave till date, we
were busy exploring the future.
and consumer has explored many opportunities. Over the last 2 decades, we have
seen this wave of evolution moving up and down. Out of the couple of waves we
have witnessed in our lifetime, e-commerce was the recent one and it came at
the right time for us. We observed the wave carefully sitting on the fence and
as billions of dollars were invested, making it the biggest wave till date, we
were busy exploring the future.
All of us, the
founding team; have worked over 10 years across sectors- retail, brick and
mortar, business, consulting, and technology. When we discussed this evolution
and how it’s impacting each of the above vertical, we were very excited to have
a strong business case. And we started the journey in July 2015.
founding team; have worked over 10 years across sectors- retail, brick and
mortar, business, consulting, and technology. When we discussed this evolution
and how it’s impacting each of the above vertical, we were very excited to have
a strong business case. And we started the journey in July 2015.
 |
| L to R: Abhinav Midha, Hemant Upadhyay, Chinmay Bhatt |
ST: Please tell us more about your organization.
Chinmay Bhatt: Shopholix is led by
experience and driven by passion. We are the new-age digital experts with a stronghold in brick and mortar retail. The team is a careful mix of business
intelligence, digital awareness, design innovation, and organizational
processes. At our Lower Parel office, you would see an amazing amalgamation of
generation X and generation Y and how they are working together to design a
viable business model.
experience and driven by passion. We are the new-age digital experts with a stronghold in brick and mortar retail. The team is a careful mix of business
intelligence, digital awareness, design innovation, and organizational
processes. At our Lower Parel office, you would see an amazing amalgamation of
generation X and generation Y and how they are working together to design a
viable business model.
ST: What business opportunities do you see particularly
in your sector?
in your sector?
Chinmay Bhatt: Engagement! The
offline brick and mortar clearly lack shopper engagement. Also, interacting
with the e-commerce players, the new age shopper has evolved and seeks
relevance. The online fashion market is estimated to treble by 2020, to reach
$12-$14 billion. This will translate to a significant 11%-12% share of the
total fashion market. Also by 2020, nearly half the fashion buyers will be
digitally influenced. Digital influence in fashion has grown more than 5x since
2013. 40%-50% of branded spends are already digitally influenced.
offline brick and mortar clearly lack shopper engagement. Also, interacting
with the e-commerce players, the new age shopper has evolved and seeks
relevance. The online fashion market is estimated to treble by 2020, to reach
$12-$14 billion. This will translate to a significant 11%-12% share of the
total fashion market. Also by 2020, nearly half the fashion buyers will be
digitally influenced. Digital influence in fashion has grown more than 5x since
2013. 40%-50% of branded spends are already digitally influenced.
ST: How has been your
entrepreneurship journey so far?
entrepreneurship journey so far?
Chinmay Bhatt: We love what we do.
Though it shouldn’t be rude to conclude that the Indian startup ecosystem has
and is going through its thick times, we believe, our journey has been very
rewarding both tangibly and intangibly.
Though it shouldn’t be rude to conclude that the Indian startup ecosystem has
and is going through its thick times, we believe, our journey has been very
rewarding both tangibly and intangibly.
ST: As an entrepreneur, what challenges do you face in your day
to day professional life, if any?
to day professional life, if any?
Chinmay Bhatt: Einstein once said, “Great
spirits have always encountered violent opposition from mediocre minds.
Mediocrity is by far the biggest challenge in any entrepreneurial journey and
we face it day to day in our professional life”.
spirits have always encountered violent opposition from mediocre minds.
Mediocrity is by far the biggest challenge in any entrepreneurial journey and
we face it day to day in our professional life”.
ST: How big is your team? Are you planning to hire more?
Chinmay Bhatt: We are almost like 2
cricket teams now, with over 22 strong players already onboard. We are always
on a lookout for people and with our growing traction, we are receiving amazing
profiles every day across our social media platforms.
cricket teams now, with over 22 strong players already onboard. We are always
on a lookout for people and with our growing traction, we are receiving amazing
profiles every day across our social media platforms.
ST: What are your future plans?
Chinmay Bhatt: As per a report by
BCG by 2020, nearly half the fashion buyers will be digitally influenced – we
want to play a major role in making that happen for offline, brick, and mortar
stores. Also, from a business standpoint, we plan to be present in all metros by
Dec 2018.
BCG by 2020, nearly half the fashion buyers will be digitally influenced – we
want to play a major role in making that happen for offline, brick, and mortar
stores. Also, from a business standpoint, we plan to be present in all metros by
Dec 2018.
