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Former Flipster is targeting the next 100 million shoppers with video ecommerce platform Ezmall

8 5 43
27.12.2018

Noida-based video commerce platform Ezmall has trained its sights on Tier II and III markets. In a chat with YourStory, Amit Bansal, Founder and CEO, speaks about his company’s differentiator, growth strategy, and future plans.

When ecommerce platforms saw exponential growth in 2015 and 2016, Amit Bansal felt ecommerce needed to touch the “next 100 million users”. Having worked for the likes of Flipkart, Reliance Retail, Best Buy, and Sears, Amit realised there was a big hurdle to cross. The next hundred million users - residents of Tier II and III cities - were used to traditional physical retail and paying in cash.

Amit also realised that often it is the salesperson who clinches a sale and to capitalise on this, he started Ezmall, a video ecommerce platform that operates across categories like apparel, home, kitchen, cleaning, and others. The company, which aims to simplify ecommerce, was founded in 2016; the platform was launched in 2017.

In just a year, Amit says EzMall has established a capital-efficient growth model, and the platform has raised $15 million in two rounds of funding. Investors include the Essel Group.

An investor in EzMall says the team has successfully put in place a hyper-growth model, achieving operational break-even within six months of launch, and has scaled operations month-on-month in a sustainable manner.

In a conversation with YourStory, Amit speaks on why the video format works in ecommerce, using regional languages will help crack specific markets, and how Ezmall is bringing the NHM shoppers online.

Edited excerpts of the interview.

Amit Bansal (extreme left), with core team

YourStory: Why venture into video ecommerce? How does it help create a differentiator?

Amit Bansal: The Next 100 Million (NHM) users rely on touch and feel to make buying decisions. At Ezmall, we use videos to bring products to life, the closest it can get to “touch and feel”. Videos help build trust and credibility in a consumer’s mind and help understand product features. The engagement and conversion rates on videos are significantly higher........

© Your Story