Nexhop: An App Uplifting Brick & Mortar Stores with a Technological Fillip

Nexhop was founded by Ashis Mohanty and Benny Marianayagam. The idea was originally conceptualized in 2014 when Ashis and Benny were working in Toronto, Canada. It started as a thought to support Brick & Mortar retailers to integrate modern technology into the sale processes.  This dream gradually developed into a Hyperlocal eCommerce platform for Retailers in India.

The company is headquartered in Bangalore with development centres in Toronto.

Nexhop

Team Nexhop

Vision of the company

Nexhop’s vision is to be a technology enabler for the Brick and Mortar stores across all categories. “We envision a technology platform supported by Mobile POS systems, cloud based order processing and inventory solutions backed by strong data analytics for retail stores”, maintained Asish.

The company aspires to create an equal opportunity platform for Physical Retailers in the world of technology driven sales.

Key Problems Addressed by the Company

Nexhop is addressing the following trouble points for the current online customers:

  1. Access to stores inventory online: Make the local retail stores inventory available online for the customer to discover.
  2. Uncertainty over product delivery: Customers can opt to pick from Stores so that urgent buying needs can be resolved quickly, eliminating the need for long/uncertain delivery times
  3. Digital receipts and order history online: Maintain digital copies of the order receipt so that the customer don’t have to worry about losing the paper receipts when they buy from stores
  4. Online Brand Identity for SMB retailers: Nexhop creates online brand identity for Retail stores and create a loyal customer base.

Highlights of the Consumer App :

  • Local stores inventory is accessible online. The user can view the stores inventory online and make better buying decisions in a hyper local setup
  • Contact the seller: An inbuilt option to call the stores so that the customer can directly interact with the stores and get their questions answered immediately.
  • Digital receipt that is saved for every order. The user does not have to worry about the receipt and purchase date while claiming warranty
  • Pick from Store option: With this feature the customer can buy an item immediately without having to wait for the delivery. This gives more control to the customer
  • Mark Stores as Favourite: Whenever the customer buys from a shop or likes a store then the store is saved as a Favourite and the customer gets notified about special deals from those stores
Similar Read:  5 Drone Technology Startups With The Potential to Fly High

Nexhop

How is it Different from its Competitors e.g. m1 Order? What is the App’s USP?

Throwing light on the company’s distinguishing factor, Ashis stated, “We are a true blue technology company with focus on product and usability. The focus of our app is on customers usability. We showcase products as per category and have a separate page for Retailers based on the locality of the customer. The user does not have to guess which store is selling what and can directly go to the product they need to buy.”

The app doesn’t scan barcodes neither does it ask retailers to generate any barcode to advertise their products. Its aim is to bring technology into the stores and make the stores accessible online. It emphasises on being an enabler for stores and their representatives by creating softwares and apps that the store can use to capture customers both in-store and online.

Elaborating on the app’s USP, Mohanty said, “our USP is our services to the stores”, as listed below:

  1. Customers are linked to stores after their purchases. This is unique as other competitors won’t provide access to the customer base.
  2. Mobile based online order processing website which gives a virtual store access to the retailers to run their business from anywhere.
  3. Web Portal to update inventory for every stores.
  4. Single focus on Consumer electronics and white/brown goods and we are diversifying to cover all type of retail products.

Monetization Model

  1. The company charges a % of the transaction that is organically generated via the Nexhop platform.
  2. Its premium options include access to Data analytics, online campaigns and access to a bigger customer base
  3. It provides logistics services to the stores at a fee.
  4. Targeted advertisements also generates revenue
Similar Read:  Can Indian Startup Boltt Become Fitbit's Biggest Competitor?

Traction Details

The startup claims to have 80 stores onboard and 5000+ products in its inventory. It says to have acquired 800+ customers in 1 month, and made transaction worth more than Rs.10 Lakhs in the same period of time

Its Android App is rated 4.9 on Google Play , with 500 – 1,000 installs.

Funding Status

The company is currently bootstrapped and supported by its team in Toronto.

Company’s Plan

“We are currently operating in Bangalore and having a plan to expand to pan India and American region soon. With the Offline Retail segment expected to be a Trillion $ market by 2020, the scope of growth is limitless”, says Ashis.

Category