Coutloot, a social e-commerce platform that has enabled more than 6 lakh of small street stores and small town vendors to expand their business online, has seen its revenue increase more than seven times over the previous year. early last year when the pandemic hit most small and offline retailers.
According to the Mumbai-based company, an average seller on its platform currently earns around Rs 16,000 per month, or nearly seven times the Rs 2,300 recorded each month in early 2020.
Incidentally, during the lockdown, when many traditional market sellers struggled to keep the business afloat, Coutloot was able to onboard over 3 lakh sellers at the start of the lockdown.
The Indian company Coutloot is a platform built on the Taobao model of Alibaba.
Over the past year, Coutloot has doubled the number of sellers on its platform, setting the current number at over six lakh.
The platform not only converts a local business to a national level business, but also helps sellers adapt to changing market conditions. The platform’s support team also guides sellers and educates them on setting up their online stores, which in turn has helped the platform sell over 20 crore in products.
Interestingly, the Coutloot app supports local sellers with innovative features like chat translation and auto negotiation. Simply put, the seller can translate the message and connect with the buyer without any language barrier through the auto-negotiation feature enabling the trading and buying function.
Recently, CoutLoot launched a B2B side of the business linking its salespeople to factories to source products at lower prices. He’s also experimenting with a video story feature, which will roll out soon where sales people can talk about their stores.
“We aim to extend and evolve the platform for the betterment of sellers as well as buyers. The team has customized the app for our users who are not tech savvy,” said Jasmeet Thind, co-founder of Coutloot.
“We currently have over 10 million app downloads and are among the nation’s top 20 app shopping by Play Store. New chat translation and auto-negotiation features have helped local sellers increase sales. can use, ”he added.