New Delhi based e-commerce shipping and enablement company Shiprocket has forayed into the business of cross border logistics to bring about ease in the cross-border shipping space. The company is backed by food delivery partner company Zomato, and have come across the market with their newly launched offering Shiprocket X. the offering has been live for almost a month now and it allows businesses to expand their market internationally and to ship orders via many various carriers in over 220 counties of the world, and track them through a single spot.
The features offered under the concept of Shiprocket X include ease of integration, minimum documents required, tracking at a single place, maximum reach for shipping, updates instantly, branded experience and assurance of faster delivery than the other competitors of the company. According to the latest report of Transport intelligence, the logistics market of e-commerce is expected to grow at 11.8 per cent CAGR from the year 2021 to 2016. On the other hand, the cross border e-commerce market is expected the growth by 10.65 per cent CAGR by the end of 2026.
Shiprocket is an e-commerce shipping and enablement company.
In the post-checkout process that the company offers, they kept hearing the feedback from the merchants they served about the inability to serve in the US and UK, except for India, and that is when Shiprocket introduced a new cross-border initiative as Shiprocket X and it has almost been a month and a half since the launched. It enables the merchants working in cross-border logistics markets to send a shipment to the buyer in the US and UK, where Shiprocket X is already live, said Atul Mehta, who is the Chief operating officer at the company.
According to the current data shared by Mehta, there are around 300-350 merchants who are live on Shiprocket. With 75,000 merchants on board, close to 7 million shipments a month and a network of 17 courier partners, the company is successfully making deliveries across 29,000 pin codes in India and 220 in other countries around the globe.
The cross border e-commerce market is expected the growth by 10.65 per cent CAGR by the end of 2026, according to reports.
Atul Mehta said that there is no acceptable reason for 10 – 20 per cent of the total merchants to not sell their products globally because if they do so, the merchants will need a logistics company like Shiprocket. Once the merchants are aware of the alternative to selling their products online, they will try to reach the global markets. The company is delighted with the offering and are introducing it to the existing merchants of the company and to those as well, who try to ship their products through other inefficient ways with higher costs. The constant demand for migration helps as opportunities for people to talk about the brand, even if people are not fully aware of it. The company looks at Shiprocket X as a major enabler to the merchants and are looking forward to the growth it gains.
In the present day, the merchants are offering several categories abroad, most of which are fashion, jewellery and other products of apparel. In the month of December last year, the company acquired Rs 1380 crore in a Series E funding round from Zomato.