From social media becoming a rage amongst the youngsters, it is now trending amongst the middle-class female population in India which is minting huge money by leveraging digital platforms.
With Amazon, Flipkart, BigBasket snatching away all the e-commerce light, many homemakers of India took inspiration and started their own businesses which turned out to be highly lucrative.
A report by consulting firm Zinnnov shared claims that more than two million women homemakers resell a myriad of lifestyle and clothing products. By using simple internet tools, women have recorded business worth $8-9 billion in gross sales.Businesses worth $8-9 billion in gross sales is anticipated to grow to anywhere between $48-60 billion in size by 2022, the Zinnov report said.
In which direction is Re-commerce Going?
Businesses worth $8-9 billion in gross sales is anticipated to grow to anywhere between $48-60 billion in size by 2022, the Zinnov report said.
Women had started out with small boutiques, tiny seeding capital which has now grown into impressive businesses. These sellers are homemakers or unemployed men. Unsurprisingly, college students also used online platforms like Whatsapp and Facebook for selling products to a diverse audience out there.
What do resellers do and what they get?
The concept of reselling on e-commerce is commonly known re-commerce as sellers are essentially using someone else’s products i.e. sellers source products from different suppliers who offer a wide array of products.
Resellers make big money by consolidating commissions of multiple sales. Resellers charge a fixed percentage of commission on every sale. The most common commission rate is 15-25%.
Vidit Aatrey, founder and CEO of Meesho said, “We are not looking for revenues from this set of sellers. The fact that such a market has been created already with two million active re-sellers shows the potential of the opportunity.”
