India is witnessing a wave of digital business transformation that is generating new prospects for enterprises across every industry. Over the last couple of years an increasing number of Enterprises have started using social and digital media platforms to engage with their customers. However the adoption of digitalization by the retail sector especially in the unorganized segment remains a challenge. Retailers today are still on a look-out for assistance to navigate this unchartered territory successfully. The lack of technology know-how, availability of skill-sets, funds, and return on investments are some of the biggest challenges. Addressing these challenges will be critical to growth and development of the segment.
India has over 25 Million Unorganized Retail Outlets and they are expected to control over 85% of the total Retail market in 2020
nStore is started with a vision to play the role of a ‘Technology Catalyst’ enabling retailers to chart their digital growth strategy and realize their full business potential. nStore software is an end to end Store Management Platform that currently aims to serve five broad categories of small stores viz., kirana or provision stores, medical, sports and fitness, food (Bakeries and Fast Food), service vendor outlets such as milk and newspaper.
The software platform is offered via mobile app as well as internet browser. It has a comprehensive set of functionalities to enable the small stores manage their operations efficiently, personalize their customer service and grow their business. The functionalities include
Store Management:
a. GST compliant Billing
b. Integrated digital payments to accept Cash, Cheque, Debit card, Credit card, Net banking, UPI, Wallets and all other digital payment methods via single interface.
c. Inventory Management to receive, track, order and reconcile inventory
d. Digital customer touchpoints with personalized Offers, Coupons, Deals, Discounts, and Communication to customers via SMS, Email and Social media
e. Earn and burn loyalty programs to increase stickiness of the customers.
f. Easier Customer Credit Management to follow up on the credit customers via SMS/Email and collect payments with convenience.
g. Basic Supplier Management functionalities to send purchase orders and make payments.
h. Simplistic and insightful Performance Intelligence covering Product, Customer, Supplier and day-to-day Transactions
2. Value Added Services:
a. Top-up & Recharges – Mobile, DTH, Data Card
b. Bill Pay Services – Utilities bill pay, School fees, Insurance premium, Mutual fund Payments etc.
c. Remittances – Domestic and International money remittance
d. GST as a Service is an add-on optional service offered to the small stores to comply with the GST filing requirements.
3. Financial Services:
a. Micro credit offers from Banks & NBFC’s at competitive rates.
b. Insurance for the inventory in the shop.
c. Micro Investment options like Mutual Funds, RD and Fixed Deposit through the App.
4. Integration with Suppliers & Partners:
a. Direct integration to supplier and distributors for easy and quick order to cash cycle.
b. Visibility to upstream partners about the retail performance
c. Integration with online retailers and partners to support their last mile services in the neighbourhood
5. nHUB
nStore Hub – after digitization of store operations and integration of partnerships, the Store will become a retail hub in the neighbourhood community for various products and services. And also enable to sell via online marketplaces and act as an eCommerce gateway to the neighbourhood.
With continued innovation in the products and services portfolio, nStore aims to be a One App, One Platform and One Hub one-stop shop focused on digitizing and integrating the neighbourhood small stores.
Our Philoshopy:
We believe in an OUO (offline-union-online) ecosystem where the online and offline worlds leverage and not displace each other’s strengths to deliver what is best for the consumer. Irrespective of the size of the retailer, we believe in providing an “individualized” account management experience. Through this, we intend to take care of every requirement in a more engaged and comprehensive manner and address the specific needs of all the stakeholders engaging with small and medium retailers in the OUO ecosystem. To achieve this, we take a ‘life cycle management’ approach to leverage the power of nStore covering Product, Customer, Supplier, Partners and day-to-day transactions.
Our Differentiators:
a. nStore focuses on retailer’s operations as opposed to solving one or more problem across the Supply Chain
b. nStore not only reduces cost but gives multiple additional revenue generating opportunities to the retailers
c. Simplistic platform to enable small and medium retailers with least technology skills to get on to digital economy while protecting and growing their own turf
d. Ability to work in both online and offline modes
e. Simple and secure interface to integrated digital payments for high degree of customer convenience
f. Hands on experience to handhold small store operations on digital platforms and understanding of the terrain
g. Focus on additional revenue opportunities
1. VAS (Remittances, Recharges, Bill Payments)
2. Direct Offers and Bundled Offers from FMCGs and Manufacturers
3. nHub - neighbourhood commerce via the Stores
