SaaS Firm Kiko Live Leverages ONDC to Empower Local Businesses
- ByStartupStory | June 6, 2023
With the ongoing digitalization trend, local neighborhood retailers are stepping into the online realm, following the footsteps of e-commerce giants like Flipkart and Amazon. While these retailers have already embraced technology by adopting UPI payments and receiving orders through WhatsApp, Kiko Live, a Mumbai and Indore-based startup, is now empowering them further by enabling the establishment of their own home delivery enterprises. This initiative covers a wide range of retailers, including Kirana shops, pharmacies, stationeries, and paan shops.
Kiko Live, established in 2020 by Alok Chawla, Virendra Kumar, and Neeta Rijwani, offers a comprehensive solution for local retailers to establish an online presence and efficiently handle their home delivery services. Through Kiko Live, customers can enjoy the convenience of quick commerce with speedy 30-minute deliveries, all while being able to track their orders seamlessly.
Chawla explained that Kiko Live helps sellers keep track of regular buyers, inventory management, and more. Some of the features will be available very soon on the platform, he added. He said that the company has about 1,000 verified sellers on the platform, and hopes to have more than 100,000 soon.
According to Chawla, the future phase of expansion for Kiko Live will involve catering to businesses aiming to join the ONDC (Open Network for Digital Commerce) trend. Kiko Live is currently in the final stages of developing its seller app to be integrated with ONDC. As a result, local retailers using Kiko Live’s platform will gain increased visibility and receive orders from a vast customer base across various ONDC buyer apps, providing access to millions of potential customers.
Kiko Live aims to establish itself as the primary application for neighborhood retailers to engage in selling on the upcoming ONDC platform, which is anticipated to launch nationwide across various categories in the near future. Chawla further mentioned that the integration with ONDC will soon surpass the existing business vertical, which involves discovering local shops, engaging in conversations with retailers, and availing home delivery services for products, among other features.
The Open Network for Digital Commerce (ONDC) is being widely recognized as a revolutionary force, comparable to the impact of UPI in the ecommerce sector. This platform enables local commerce in various segments and ensures fair competition for small businesses, including SMEs. Over the next five years, the ONDC is expected to attract a staggering user base of 900 million buyers and 1.2 million sellers, generating a significant gross merchandise value (GMV) of approximately $48 billion.
“There are currently over 1.25 crore small retailers in India who have no digital presence. Even if we can help 1% of these sellers increase their business by selling on ONDC we are speaking of 1 lakh + sellers,” he added.
To leverage the growing potential of the ONDC platform, Kiko Live has strategized the launch of an AI-driven chat-based solution that will operate within the open network. This AI chat feature will provide users with personalized product recommendations based on their purchase queries, drawing from Kiko Live’s listed sellers as well as the expansive ONDC network. Additionally, Kiko Live is developing another chat-based shopping module that will enable users to send inquiries to multiple sellers, including those operating on the ONDC platform.
Recognized as a transformative force in Indian commerce, the ONDC is considered a game-changer, and companies like Kiko Live are actively working to secure a competitive edge by providing customized solutions for Indian retailers. With the ecommerce industry expected to achieve a valuation of $350 billion by 2030, there are abundant prospects for such enterprises. Magicpin serves as a prominent illustration of this trend, as it has gained substantial momentum in recent times. Magicpin allows customers to explore nearby retailers and enjoy exclusive discounts, highlighting the escalating demand for localized retail experiences in India.
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