The times have changed, and its no longer sufficient for a brand to solely concentrate on its product. In todays world, brands must also prioritize digital marketing, digital sales, and digital customer service, in addition to physical distribution, warehousing, and logistics. Brands now require collaboration with almost 10 different partners to handle various aspects of their ecommerce value chain. This includes tech agencies, marketing firms, and warehouse operators. Tradexa, a startup based in Pune, has developed a platform that consolidates all these diverse elements with a technology-based approach and deep expertise.
Ramesh Jhajharia founded Tradexa in 2019 with a clear objective: to assist brands, retailers, and distributors in selling both online and offline with minimal investment and hassle through a cutting-edge technology platform. The companys vision is aligned with the Digital India initiative.
Jhajharias extensive experience in developing highly scalable technologies, as well as his participation on the technical steering committee of blockchain technology Hyperledger, led him to consider using blockchain to create a network of distributors, retailers and brands. However, he soon discovered that the industry required technology support that could enable people to sell both online and offline and that blockchain was not yet necessary. With this in mind, he founded Tradexa in May 2019 and began collaborating with Indias largest distribution networks.
“Today we have the capability to digitalize any retailer across different industries in just one hour and enable brands scale 3-5 times in just 3 months. Traditional retailers and distributors struggle to understand eCommerce and its requirements. We offer a solution that lets them sell their products online and offline without all the technical hassle. They can start in an hour with our latest technology for just Rs 5,000. We innovate and experiment. Our partners need only to sell,” says Jhajharia.
In addition to providing a platform for brands, Tradexa also allows retailers to sell directly through their marketplace with minimal or nominal margins. Tradexa fulfills all orders received on their marketplace through their retail partners. At a cost of only Rs. 20,000 per month, Tradexa offers a range of services that includes store management, digital marketing, digital advertising, product information management, social media management, SEO, graphic design, and customer engagement. It claims to be entering a new industry every 2 months and has the capability to digitalize up to 5000 retailers every 3 months.
The period between March and May 2020 was Tradexas most difficult time because of the uncertainty brought about by the first wave of COVID-19 and the nationwide lockdown. “COVID-19 had a significant effect on the economy and caused the shutdown of some sectors but it also contributed to the growth of e-commerce and the popularity of digital transactions. It also gave another perspective to the retailer, brands and distributors on the importance of digitization. COVID accelerated digitization and it benefitted companies like ours,” Jhajharia says.
“These challenging times have reaffirmed the validity of our vision and strategy. At Tradexa, we see ourselves as a dynamic learning organization, committed to providing our employees with valuable experiences that surpass those offered by other companies. We are proud to say that after just two years with us, our employees will have gained significant expertise and knowledge,” the Founder says.
Tradexa currently manages the entire eCommerce operations for numerous billion-dollar international brands. They also operate two industry-specific marketplaces, boasting an impressive 90% onboard rate for participating brands. At present, the company generates an annual revenue of Rs. 10 crore. However, they aim to leverage their marketplaces, platform, and additional services to increase their revenue to Rs. 800 crore over the next five years.
Tradexa relies on three types of IT systems to enhance the eCommerce experience for consumers: transaction processing systems, decision support systems, and decision automation systems. In terms of operations, Tradexa provides a range of services such as product information management, inventory management, accounting, webstore management, payment processing, and shipping and logistics management. Additionally, they offer marketing solutions that include dynamic webstores, auto SEO, AI-powered customer query response system, Facebook catalog, Google shopping and advertising system, as well as transaction and promotional communication through email, SMS, and WhatsApp. To support decision-making, Tradexa employs an AI-based recommendation system that analyzes key aspects of a brand such as products, inventory, pricing, marketing budget, sales, buyers and promotions to suggest the best course of action for scaling the brand. Furthermore, Tradexa has established influencer networks throughout India to assist brands seeking to expand and thrive.
“At Tradexa, we take pleasure in empowering first-time entrepreneurs who wish to establish their own eCommerce brand but may be daunted by the intricacies of eCommerce operations. We are excited to announce that we are launching a program for new brands, where we will provide our platform for free and offer support to help them grow. The only prerequisite is that they must possess a successful product and some funding,” Jhajharia says.
Tradexas approach focuses on the digitization and creation of a global network that encompasses various brands, distributors, and retailers. Their current focus is on developing industry-specific networks of brands, retailers and distributors, while also creating industry-specific marketplaces tailored to the needs of end customers. “This approach allows us to offer a personalized experience for customers in various industries,” Jhajharia signs off.
