Samsung has invested Rs.52 crores into eCommerce startup Magicpin

magicpin

Have you heard about the famous eCommerce startup Magicpin? RS.52 crore has already been invested by Samsung Venture Investment Corporation on this Gurgaon-based eCommerce startup. This investment has been made solely to develop new projects as well as the business expansion of this startup.

According to Anshoo Sharma, the CEO and co-founder of Magicpin, this startup will utilize this considerable amount invested by Samsung Venture Investment Corporation to make their operations strong across cities.

The story doesn’t end here. This startup is also going to utilize this investment to develop different online products, engaging categories and a fruitful market for this exclusive brand.

Good news for retailers

Magicpin is not going to charge a single penny as a commission on sales. But the retailers have to onboard this incredible Magicstore platform. So this zero commission strategy will definitely benefit and attract more retailers on this platform.

Benefits of consumers

The consumers will also get benefited by getting rewards. They will get points for both spending and visiting the outlets, or they will simply receive cashback. 

So consumers will undoubtedly love to visit the outlets available on this platform. Some of these outlets have tremendous craze, as these are branded outlets.

A great additional store

This startup has already started a new magic store too. This store will be beneficial for retailers. The registration process is simple and straight forward. So after registering as a retailer, they can deliver their products to the doorstep of the customers. 

Doorstep delivery always increases sales, and hence this service is in high demand. People usually love to shop online because they don’t want to loiter around here and there to pick up their favourite stuff. In that case, doorstep delivery is necessary to attract more customers. A startup like Magicpin has made it possible for their retailers.

A startup or a business always has to read the minds of the consumers and take decisions accordingly to satisfy their need. Then only that startup can increase its productivity. 

In this situation, consumers are concerned about their safety first. That is why they want to stay in there home space and love to get doorstep delivery. 

But previously retailers have to pay extra cost to enjoy this service. Now Magicpin has started to offer this fantastic service without charging a single penny. So what can be better than this? What else can you expect from an eCommerce platform? 

According to Sharma, this zero commission will enable their retailers to serve the customers in a better way.