In an interview with the TechGraph, Punit Sindhwani, CEO of Paxcom said, “The Indian eCommerce industry has come a long way since its inception and is seeing an upward growth trajectory with every passing day.”
Read Expert:
TechGraph: How Paxcom’s flagship SaaS-based product helps brands scale their e-commerce presence?
Punit Sindhwani: Paxcom’s team comes with in-depth experience across various facets of e-commerce, both in India and internationally over more than a decade.
Their early exposure to e-commerce enabled them to recognize the sector’s potential in India, and they collaborated closely with some of the leading consumer brands to develop solutions that addressed the gaps they were facing when trying to scale their digital presence.
Kinator, a SaaS-based channel intelligence and data analytics platform, was the first solution developed, allowing their clients to track, measure, and audit their e-commerce presence, and provide insights for day-to-day and strategic decisions.
This cutting-edge solution can collect and analyze data from over 170 eCommerce channels, across the globe to deliver actionable insights for improving digital shelf share, stock availability, competitive pricing, product discoverability, ROIs on marketing spends, placements, and more.
Daily, Paxcom analyzes multi-crore ad spends, and over 1.4 lakh products across 450+ pin codes and 11 languages to provide seller and location-specific insights to aid their clients’ e-commerce growth.
Their team of e-commerce experts, Data Scientists, Business Analysts, Content Writers, and Creative Designers can help you launch and optimize Products Price, Promotion, Placement, and growth strategies on popular eCommerce Sites.
Paxcom’s team comes with vast experience across brands, markets, and platforms to ensure that your brand has all the tools needed to remain ahead of the curve. We pride ourselves in working as a partner and an extension of our client’s teams to ensure synchronized plans to success.
Over the last seven years, they have continued to evolve and grow alongside their clients’ ever-changing needs, becoming a full-service strategic solution provider for e-commerce, adding numerous services and software along the way. Some exciting new solutions in development will be going live this year.
TechGraph: Digital innovations are driving the eCommerce sector in India towards a paradigm shift. What are the measures taken by your brand to boost this drive?
Punit Sindhwani: Digital innovations have been at the heart of India’s e-commerce growth, and they form the solid foundation upon which Paxcom is built. We have consistently invested in developing a strong suite of cutting-edge ML/AI technology solutions, which are backed up by a comprehensive set of eCommerce services to provide end-to-end assistance for businesses looking to expand their online presence.
Paxcom’s cutting-edge AI Channel Intelligence tool – Kinator, can track, measure, and analyze e-commerce metrics across platforms, sellers, and geographies to provide key decision-making insights to brands and sellers.
We’ve also recently released a premium version of this tool, which uses customizable dashboards to help bridge the gap between data and decision making. The premium version also includes comprehensive e-advertising insights and an in-depth analysis of sales.
Businesses of all sizes & categories can harness the power of our innovative pre- and post-fulfillment solutions to make their listing, order processing, warehousing, and shipping process seamless, quick, and manageable. Easy connections across several channels, a consistent experience for customers and employees, and automated technologies will help you accelerate with control. Our Omnichannel offerings comprise multiple robust web applications that provide solutions that can help brands grow, and manage their backend operations flawlessly with ease.
TechGraph: How has the ongoing covid wave affected the e-commerce business in India? What are your initiatives to help businesses come back on track?
Punit Sindhwani: Indian e-commerce, like its counterparts globally, received a shot in the arm with the recent pandemic. The growth seen in the last 2 years surpassed even long-term projections in most cases.
The recent growth has brought about a slew of developments in the industry – penetration, contribution to retail sales, the share of ad spends, business models, regulations, competition, and support ecosystem of enablers have all gone up.
We have seen a lot of evolution, not just in focus from brands and sellers on e-commerce, but also a lot of innovation around intelligence, strategy, and maturity towards the same. In today’s highly competitive environment, intelligent decision-making and informed strategy have become essential to survive and thrive.
The pandemic has been an inflection point for the eCommerce industry in India as more consumers have adapted to online shopping. Consumer brands of all sizes are betting big on eCommerce to sell their products. Companies selling products online have grown at an astonishing rate.
However, the flip side of this growth is that competition is increasing, and brands must understand all aspects of eCommerce strategy to stay on topBrands are capitalizing on this opportunity by utilizing data analytics that allows them to ensure higher stock availability, predict risks, and optimize their strategies to reach the targeted audience with greater accuracy. Keeping an eye on the hygiene and growth metrics across all marketplaces where a brand is looking to expand its business is crucial.
Paxcom’s cutting-edge SaaS solution has been evolving constantly with changing market needs to deliver insights that can be used to improve digital shelf share, stock availability, competitive pricing, product discoverability, ROI on marketing spends, placements, and more. Daily, Paxcom analyses multi-crore ad spends and over 2.9 lakh products across 167 platforms, 800+ pin codes, and 11 languages to help clients grow their eCommerce businesses intelligently.
Our eCommerce experts have been adapting to the changing market trends and models to help brands launch, track and optimize their products’ price, promotion, placement, and growth strategy on popular eCommerce sites, both domestically as well as across the world.
TechGraph: What is the USP of Paxcom?
Punit Sindhwani: Paxcom’s USP include – Strong experience and domain knowledge across platforms and categories
Robust experience of best practices across geographies and industries.
Strong Technical Solutions and Services work together to give a complete solution.
Flexibility to tailor software as well as services to your specific requirements.
Global Support – Multiple language tracking & content Learnings across brands & categories.
TechGraph: What is Paxcom’s growth trajectory?
Punit Sindhwani: In addition to expanding within the country, we are aggressively growing our global presence. Our current clients include over 150 brands, across 20 countries, and we are in the process of growing not just our client base, but also our engagement with existing clients.
At the moment, our SaaS-based data analytics tools are our top focus, with eCommerce advertising & strategy services following closely behind.
Looking ahead, we expect our revenue to triple within the next two years, with the primary chunk of that growth coming from North American and Asian markets.
To enable Paxcom for future growth, the team is also growing rapidly. We plan to add about 200 more qualified candidates to our team over the year in the areas of both technical and service-based roles.
There are also some exciting new products and solutions in development that will be going live later this year.
TechGraph: Share your plans about your product features or any business expansion plans?
Punit Sindhwani: In addition to expanding within the country, we are aggressively growing our global presence. Our current clients include over 150 brands, across 20 countries, and we are in the process of growing not just our client base, but also our engagement with existing clients.
At the moment, our SaaS-based data analytics tools are our top focus, with eCommerce advertising & strategy services following closely behind.
In 2022 we will also be expanding our Omnichannel solutions further with some exciting new products and features
Looking ahead, we expect our revenue to triple within the next two years, with the primary chunk of that growth coming from North American and Asian markets.
TechGraph: How do you envision the future of e-commerce in India especially when the technology is fast-changing?
Punit Sindhwani: The Indian eCommerce industry has come a long way since its inception and is seeing an upward growth trajectory with every passing day.
According to IBEF, the Indian eCommerce industry is expected to surpass the US to become the second-largest eCommerce market in the world by 2034. Technology enablers like digital payments, hyper-local logistics, analytics-driven customer engagement, and digital advertisements will facilitate growth in this sector in times to come.
Further, growth in the eCommerce sector will boost employment opportunities, increase revenues from foreign exports, increase tax collection by ex-chequers, and provide better products and services to customers in the long run. There is still a lot of excitement ahead on the Digital India journey, and digitizing the next layer of buyers as well as merchants will pave the way for the next wave of growth.
TechGraph: What are your growth priorities for 2022?
Punit Sindhwani: In addition to expanding within the country, we are aggressively growing our global presence. Our clients include over 150 brands, across 20 countries, and we are in the process of growing not just our client base, but also our engagement with existing clients. Deeper relationships and growth with existing clients, we believe, are the most reliable indicators of a successful business.
At the moment, our SaaS-based data analytics tools are our top focus, with eCommerce advertising and strategy services following closely behind.
Looking ahead, we expect our revenue to triple within the next two years, with the primary chunk of that growth coming from North American and Asian markets.
To enable Paxcom for future growth, the team is also growing rapidly.
We plan to add about 200 more qualified candidates to our team over the next seven months in the areas of both technical and service-based roles.
There are also some exciting new products and solutions in development that will be going live later this year.
