Customer Engagement in Retail
India’s retail market is estimated at USD 883 billion in 2020 by Forrester Research. While the market itself is huge, it is highly fragmented and only approximately 10% of the market is comprised of organized retail. In fact, much of the growth in the past decade occurred in the modern retail. And, this trend is expected to continue in this decade as well.
However, there was one big challenge for your ubiquitous brands like KFC, PizzaHut, Starbucks, John Miller and myriad others. It was their inability to capture customer data, identify their customer needs and communicate with them effectively.
This is where CapillaryTech comes into picture. CapillaryTech’s CRM provides a data driven approach to improve customer engagement. To put it in simpler terms, the discount offer you get from your favorite pizza brand on your mobile is most likely recommended by Capillary’s systems. Furthermore, Capillary’s system enables seamless and connected buying experiences across channels. So, you can start your shopping on your mobile and finish it in a store without jumping through hoops.
A Path Breaker
CapillaryTech, founded in 2008, is from the first crop of Software-as-a-Service (SaaS) companies that have emerged from India. This was a time when eCommerce was still in its infancy and smartphone penetration in India was in single digits. By 2022 India is expected to have more than 800 million smartphone users. These customers are accustomed to doing everything on their mobile. An average Indian spends approximately 5 hours a day on her smartphone in 2021. So, now more than ever before it is imperative for brands to engage with their customers on their mobiles. CapillaryTech is well positioned to deliver this. Now, CapillaryTech is widely recognized as one of the pioneering SaaS companies coming out of India.
CapillaryTech is founded by Aneesh Reddy, Ajay Modani, and Krishna Mehra. It has a presence in over 30 countries and has a relationship with over 500 brands. Some of the marquee Venture Capital investors such as Sequoia India, Warburg Pincus, Avataar etc have funded this startup with more than USD 100 million over the years.
In this episode.. .
I spoke with Aneesh about how the founding team has come together and zeroed in on CapillaryTech. We also talked about how he handled the churn in the founding team and what he thinks about providing exits to his investors. I have also asked him about his enthusiasm for backing young startups and what he expects to gain from it. Do not miss this super informative conversation.