In an exclusive interview, Ramesh Jhajharia, Co-Founder & CEO at Tradexa, talks about how the company is helping brands establish a robust online presence and increase sales through their full-stack commerce enabler approach.
Read the complete interview:
TechGraph: Can you tell us more about Tradexa’s full-stack e-commerce solutions? How does it differ from other e-commerce platforms?
Ramesh Jhajharia: Tradexa is a full-stack commerce enabler that empowers brands to effectively sell through all channels, both online and offline. We support brands with technology and comprehensive marketing and advertising services driven by experts, allowing them to focus on scaling product innovation and sales.
Technology-wise, we provide a technology-driven platform called Hyperinventory, which serves as the backbone of our solutions. This platform offers comprehensive technological solutions for various commerce-related activities, including webstore management, transaction processing support, decision-making support, inventory management, product information management, logistics, payment processing, shipment, and other functions. It enables brands to focus on scaling sales and online presence.
Moreover, we understand that managing technology, customer queries and feedback, marketing and advertising services, content creation, graphics, platform negotiation, and order processing requires a dedicated team, which comes at a considerable upfront cost.
For instance, monitoring the return on ad spend (ROAS) for brand ads across channels like Facebook, Google, and Amazon demands expertise in digital marketing and analytics. It also requires content creation and management skills to understand which channel drives the right and maximum traffic at the lowest price. Tradexa provides a dedicated team of experts for managing technology, customer engagement, handling marketplace negotiations, content and design creations along with other services, helping brands scale smoothly.
Therefore, Tradexa differentiates itself from other e-commerce platforms by providing full-stack commerce solutions backed by technology and expert-driven services to brands, compared to other platforms that may offer only one or two services that Tradexa provides.
TechGraph: How does Tradexa help brands establish an online presence and increase sales?
Ramesh Jhajharia: Tradexa’s full-stack commerce enabler approach encompasses technology and expert services related to commerce functions required to establish an online presence and increase sales. On the technology front, we offer a technologically advanced commerce platform called Hyperinventory, which provides transaction processing, decision support, and decision automation systems.
Through these systems, Tradexa provides a technological edge to brands, enabling them to seamlessly manage commerce-related activities, including product information management, inventory, and order management, fulfillment services, customer engagement, marketplace integration, webstore management, payment processing, logistics management, AI-powered customer service, dynamic webstores, automatic SEO, transactional and promotional communication systems through email, SMS, and WhatsApp. We also offer AI-driven recommendations to help brands understand which products perform better based on data-driven insights.
Additionally, our digital advertising utilizes AI to find the right customers at the right cost, helping brands increase sales while minimizing costs. Managing an online presence also requires support from a team of experts to analyze campaign results, manage customer engagement, handle the brand, and create content and designs. Tradexa supports brands with marketing and advertising backed by a team of experts with designated skills and expertise, ensuring brands can scale smoothly and efficiently. Our team of experts also assists brands in negotiating with marketplaces, leveraging our existing relationships to facilitate negotiations and build a robust online presence.
TechGraph: What are some of the biggest challenges brands face when it comes to e-commerce? How does Tradexa address these challenges?
Ramesh Jhajharia: One of the biggest challenges brands face in e-commerce is building, retaining, and managing teams with diverse skills and expertise to perform various functions, such as managing technology, marketing, advertising, content, design, and more. Focusing on building teams can distract brands from core product development. Tradexa understands these challenges and addresses them by providing full-stack solutions in technology and expert services.
We help brands build their marketplaces and assist them with overall sales and inventory tracking, generating reports, store and customer engagement management, marketplace integration, seller service, and support from experts in managing technologies, customer feedback and inquiries, marketplace negotiations, as well as creative services like content and design. This allows brands to concentrate on building their products while tackling these challenges.
TechGraph: In the current digital landscape, how important is it for brands to have a strong e-commerce presence? How does Tradexa help them achieve that?
Ramesh Jhajharia: Customers’ buying behavior has undergone a significant change, where customers now conduct online research even when making offline purchases. Therefore, brands must establish an online presence; otherwise, they risk missing out on valuable opportunities.
In today’s business landscape, it’s not just about online or offline; it’s about online plus offline. Tradexa comes in here. We specialize in helping brands develop a robust e-commerce presence through advanced technological support. Our comprehensive range of services includes transaction processing, decision support, decision automation systems, and handling operational tasks such as managing product information, inventory, accounting, webstores, payments, shipping, and logistics.
On the marketing front, we offer dynamic webstores, automatic SEO, AI-powered customer service, Facebook catalogs, Google Shopping, and advertising systems. Additionally, we provide transactional and promotional communication systems through email, SMS, and WhatsApp.
Our AI-driven recommendation system covers all crucial aspects of a brand’s business, including products, inventory, pricing, marketing budget, sales, buyers, and promotions. Implementing these recommendations is effortless and can be done with just a few clicks. With Tradexa, brands can establish a strong online presence, leverage cutting-edge technology, effectively reach their target audience, and ensure long-term success in the ever-evolving marketplace.
TechGraph: How does Tradexa stay up to date with the latest e-commerce trends and technologies to provide the most effective solutions for its clients?
Ramesh Jhajharia: With our strong presence in the industry and partnerships with major e-commerce platforms such as Amazon, Flipkart, Nykaa, TataCliq, and Bajaj, we stay up-to-date on the latest trends, best practices, and challenges faced by brands in the e-commerce sector. Through close collaboration with industry players, we gain valuable knowledge. This enables us to provide tailored insights and effective strategies to our partners based on their specific requirements.
Furthermore, as the only company that works as a brand and runs its marketplaces – Imaginext and RUSWIC – we face similar problems as other brands, such as determining which products to sell and where to sell them at the lowest price. By facing these challenges ourselves, we gain a better understanding of how to tackle them. We continuously learn from solving these challenges for our brand and apply those learnings to our platform, benefiting our brand partners. Through the continuous implementation and evolution of our platform, we can provide our clients with effective solutions.
Moreover, we focus on understanding the industry’s needs, curating a global repository of products and brands, and digitalizing the industry accordingly. By doing so, we address the needs of distributors and retailers while eliminating concerns about failure risk, upfront onboarding, or setup costs.
TechGraph: Can you speak about the role of data and analytics in Tradexa’s e-commerce solutions? How does it help brands make informed decisions?
Ramesh Jhajharia: Data and analytics play a crucial role in Tradexa’s e-commerce solutions, enabling brands to make informed decisions and drive success in the online marketplace. By capturing and analyzing data, brands gain valuable visibility into their supply chain, sales performance, and financial metrics. This data-driven approach enables them to make data-backed decisions to streamline operations, identify cost-saving opportunities, and enhance customer satisfaction.
Tradexa offers AI-driven decision support systems and decision automation systems that provide brands with AI-based recommendations. These recommendations cover various aspects, such as determining which products should be sold in which locations, which channels are profitable, and how to optimize costs and revenue. Our AI-powered recommendation system analyzes data and generates actionable insights, helping brands optimize their pricing strategies, marketing budgets, sales forecasts, and promotional campaigns, and seize growth opportunities.
TechGraph: What are Tradexa’s plans in terms of expanding its e-commerce offerings and client base?
Ramesh Jhajharia: Tradexa has two main objectives for expanding its e-commerce offerings and client base. The first objective is to assist emerging brands, while the second objective is to create industry-specific marketplaces.
By FY2023, we plan to empower 500 brands with our technology and services to conduct commerce operations. Additionally, we aim to expand our Imaginext and RUSWIC marketplaces and enter a third industry by FY2023.