nStore Community Commerce Model

By Pradeep
Posted On: 03 / Feb / 2022
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Deal Details


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Equity (Fundraise)
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Deal Description

Problem Statement: Over the last three years of our engagement with over 7500+ retailers and understanding the real pain points, the real expectation of the retailer is to solve for • Order Capture from the Consumers (Digital Engagement) • Delivery Service (Last Mile) • Access to Short Term working Capital (Credit) An integrated platform that offers these services to the retailer would be the real enabler. Overview of the Solution: The unique way in which the company set out to solve this problem is through a Community Commerce Model Community Commerce Platform looks at a community of 1000 households as a single unit and create a commerce ecosystem around it by enabling neighborhood stores to serve that community online. nStore would enable the retailer to capture orders, fulfil those orders with last mile delivery service and also provide the retailer with short term access to credit. This combination of services is a true enabler and leverages the power of the groups without spending large capital, which is a clear differentiator. Business Model: It is a Saas based platform where the store subscribes by paying ~ INR 2000 per month to get access to local orders, last mile delivery for upto 60 orders per month and access to credit. nStore will engage with a community of 1000 households to capture orders and route them to the local stores via nStore’s flagship platform solution, nLincs. Once the order is processed, nStore’s shared delivery agent model would ensure that the delivery agent picks up the ordered items and delivers the product at the doorstep of the consumer. Consumers will get rewarded through the “nJoy” rewards program managed by nStore for a small fee. The consumers will get rewards upto their half yearly average spend (16.67%) on the platform. The onboarded network of retailers in the local area will form a group and invest a minimum of INR 6000 to create a corpus and lend amongst themselves which would fetch them a return upto 2% per month. nStore’s nIvesh solution will enable this service which ensures the liability remains within the group.

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