Yo!Kart Empowered Around 200 Multi-vendor eCommerce Marketplaces During the first Year of Pandemic
Mohali, Punjab Sep 17, 2021 (Issuewire.com) - Yo!Kart, the leading marketplace software, successfully launched more than 200 online marketplaces during the 1st year of the pandemic (March 31, 2020- March 31, 2021).
Since its inception in 2016, Yo!Kart has been enabling business owners to create a holistic brand experience with a customized marketplace, mobile apps and all other necessary integrations for the ecommerce supply chain.
"The pandemic has driven demand for online commerce in all sectors and dictated that the imperative scope of an operative and robust ecommerce channel took first place among the other priorities of the development of a startup or even an enterprise," said Manish Bhalla, the CEO of FATbit Technologies - the parent company of Yo!Kart.
"In the pandemic, we catered to every archetype in the ecommerce industry:
Seeders - Startups with no technological capabilities and no ad hoc strategy.
Amplifiers - Brands that needed a revamp in their technical framework or desired to migrate their running marketplace to Yo!Kart.
Explorers - Enterprises running a supermarket chain nationally or globally looking for a technology partner to create a unified ecommerce channel and integrate ERP, WMS, and other systems with it."
Following is the country-wise segregation of ecommerce businesses propelled by Yo!Kart multi-vendor platform with the perspicacity of individual regions.
1. United States
Known for its entrepreneurial culture, openness to alliances, mobility, flexibility, and zest to democratize, the US individuals & companies have rapidly invented, launched, and scaled revolutionary new ecommerce businesses ideas.
While dealing with the Yo!Kart team, they were evident with their expectations, i.e. well-developed marketplace infrastructure, streamlined supply chain management, and advanced payment system. Out of the total marketplaces launched in the USA, around 20 percent were SMEs that started or took their retail business online and began a new era in the United States small-business economy.
Around 45 new online marketplaces in the USA from March 31, 2020- March 31, 2021, with a total revenue of over 1 hundred thousand dollars, have chosen Yo!Kart for their online marketplace needs. Allfrom1supplier.com, madcheetah.com, are some of the sites powered by Yo!Kart in the USA.
20 percent of which are specifically developed to sell electronics items online, client reference Bozinga.com.
12- 15 percent were stores selling home decor products (from basic furniture to decorative items, everything).
10-13 percent invested their capital in the fashion industry to formulate tech-forward ecommerce channels.
The remaining almost 50 percent were a mixed bag of food, grocery, general care, etc.
2. United Kingdom (UK)
A nation where 64 percent of the workforce wants to establish their business or dream of becoming an entrepreneur, the UK has consistently appreciated the methodology of building and selling quickly.
The entrepreneurs/business owners from this region believe in putting their life-saving in their brainchild to prove the concept and gain clients/customers, leading to that vital funding injection. Implies- they have so much belief in their idea and courage to take a risk.
Apart from establishing marketplaces from scratch, the Yo!Kart team helped ecommerce businesses carry out R & D w.r.t high-tech and high-growth milestones objectives.
The UK is becoming an entrepreneurial hub for grocery & food businesses. Around 75 percent of marketplaces launched by Yo!Kart in the UK consisted of these niches. Example: Greenramona.com.
The remaining 25 percent focused on the fashion industry. My Valley is a significant example.
In Canada, women are turning to entrepreneurship at an exponential rate. According to a credible report, female entrepreneurs have grown 3.1 times the number of men in the last 40 years. The Yo!Kart team experienced this as many females (including immigrants) partnered with Yo!Kart to begin their business journey.
According to the Yo!Kart team, one of the Canadian entrepreneurs, said: "Desperate time calls for desperate measures, and COVID-19 is a perfect example of it. To provide a seamless online platform to customers during a pandemic means I have to find an ecommerce solution that is not only technologically stable, advanced, or robust, but also integrated with features & functionalities for a streamlined supply chain process. And, all my requirements are fulfilled by Yo!Kart."
During Pandemic, Yo!Kart empowered 18 plus marketplaces in Canada, ranging from fashion to FMCG industries. Example: Mora Labels
Many Canadian SMEs connected the Yo!Kart team to upgrade their existing platforms to improve overall business efficiency.
4. United Arab Emirates
UAE is one of the few countries where the government provides incredible support to promote the country's entrepreneurship and enterprises sector. The authorities have many incentives to create a favourable environment, thriving business opportunities across various industries.
Entrepreneurs in the UAE have many competencies and abilities; they have commercial awareness, resilience, and flexibility for different ideas. Importantly, they know how to get leverage from government policies efficiently. They connected with the Yo!Kart team, having a vision to stand out among large conglomerates and family businesses in the UAE market.
While starting an ecommerce marketplace, they knew what technological barriers they needed to overcome, what additional integrations they required, and most importantly, how to provide the best UI/UX experience in the background of Arab culture.
Yo!Kart marketplace software has been used to launch multiple niches- electronics, beauty products, costumes, food & grocery in the UAE during the 1st year of the pandemic, such as reCreate Mrkt
No doubt, Germany has been a little slower to accept the startup culture. It prioritizes jobs in established organizations and the government. But, deliberately and steadily, the country's attitude towards entrepreneurship is changing, especially in the ecommerce sector. The pandemic has given a significant boost to Germany's entrepreneurial culture.
The clients that Yo!Kart made during the pandemic clearly stated some facts- They admitted that it was scary in the initial days, but obviously, business in its principle is something risky. You have to find a reliable technological partner like Yo!Kart to make it smooth and effective. They further added that because of their ecommerce startups, a new generation of entrepreneurial talents got inspired.
Most of the startups were based on FMCG and the general industry. Reference clients- Niyaleo.
Many established offline companies entered the digital arena through Yo!Kart.
6. India, Malaysia, & Australia
The Yo!Kart marketplace software has been used by more than 30 ecommerce marketplaces in India, Malaysia, and Australia for their online marketplace needs. Majority of them sell multiple products from FMCG and retail categories.
Primary clients - Yataby and Duval Roads
How did the Yo!Kart team deliver during the COVID crisis?
On the delivery and execution model, Manish Bhalla said: We always believe in empowering entrepreneurs or businesses to capture new opportunities and expand their capabilities from asset-light approaches to investment in technology.
Throughout the 1st year of COVID-19, even though we knew that new digital business models would emerge, we focused on its solutions and their strengths like customizability and scalability.
The Yo!Kart team established a pandemic preparedness structure to streamline the product delivery and communication program.
Plot 268, Sector 82, JLPL Industrial Area, Punjab
Source :FATbit Technologies
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