Qwipo set to disrupt Indian retail digitally
Hyderabad-headquartered Qwipo is a technology-enabled B2B platform in groceries and FMCG retail space addressing the bulk procurement and logistics needs of the business retailers. With an objective to transform wholesale retail in India, the company was founded in 2018 with technology-led digital intervention in the supply chain. Siva Morisetti, founder & CEO, Qwipo tells Y V Phani Raj how the company is filling the market gap and the way forward.
Addressing challenges
Qwipo has taken up the challenge of fixing the inefficient retail supply chain, by shortening the distribution channel, optimising logistics, and reducing wastage through predictive analytics. The platform is using technology to empower retailers by defragmenting and standardising wholesale distribution. This impacts all retailers from kirana stores to supermarkets, hotels, and restaurants, as well as large business enterprises. It is also simplifying business for wholesalers and prime suppliers through customer discovery, secure payments, seamless operations, and efficient logistics. We have over 11,000 retailers transacting through our platform as of today.
Order-placing journey
The retailer compares the prices of various vendors and places the order through the Qwipo app. The order is then transferred to the vendor for confirmation. Once the vendor confirms the order, Qwipo logistics goes and picks up the order from the vendor’s shop after that the order is delivered to the retailer. Once the retailer acknowledges the order, the transaction is completed, or if the retailer rejects the order, then the products are again sent back to the vendor and the loop is closed.
Data analytics
We have dashboards that we have built using artificial intelligence and machine learning. This is helping us in our decision making to further improve the platform. We also are developing a demand forecasting feature for retailers, which will be rolled out soon. For the vendors, we are providing insights on the cumulative orders one is getting in a particular product category so that they can tap full potential. We also derive insights on logistics and sectoral demands.
Capital lending
We are in talks with fintech partners to extend lending facilities to vendors and retailers through Qwipo platform to meet their credit needs. We also want to develop our own digital payment gateway so that the transaction fee can be reduced for the stakeholders. This will reflect significant savings.
Expansion plan
Qwipo has a strong presence in tier-2 and tier-3 cities of Telangana besides Hyderabad and has expanded into Andhra Pradesh about nine months ago and is currently aiming to expand to Maharashtra within the next few months. We want to strengthen our presence in south India. Our platform is agnostic to products. We are in staple and FMCG categories now, and we will expand our horizon to other products as well. While we will invest in technology, we are ensuring that we remain asset light.
