With leveraging the power of 30M Unique Active Users monthly on ScoopWhoop’s platforms, Hypd Store aims to utilize the funds on product enhancement, growth and category expansion.
11th
Feb, NewDelhi : Social media, which used to be just for friends and family has over time evolved into a spot where e-commerce purchases take place. This pivot into e-commerce was meant for the best but the platforms we have today aren’t created for a natural purchase experience. Impulse buying has become almost a pastime for many of us – we see it, like it, get it generation. However, social media, and the platforms we use now are not tailored to the way we like to interact with brands and influencers which has led to a disruption in the purchase cycle.
HYPD Store is also a creator-first platform which bolsters influencers to grow and make money via these edutainment content bits. For brands, it’s an immense opportunity to leverage their reach and fame – a win win for all involved, making sales in enormous numbers. HYPD Store was beta launched in November of 2020, and has so far had approx. 20k downloads, 50+ brands with a positive review of 4.9 on the
Google Playstore.
Ashwarya Garg, Co-Founder, Hypd says, “We are delighted with the incoming strategic investment. In most cases companies act as a content company or a tech company; fortunately we are both. People love to buy, but don’t like to be sold. With Hypd’s unique content to commerce tech, conversions are up by 80%!”
Akshay Bhatnagar, Co-Founder, Hypd says, “While we are helping brands by maximizing returns on their content investments, we are also actively rooting for the creator economy by mapping every sale to a content inspiration and thus a creator’s cut!”
Sattvik Mishra, Co-founder & CEO at ScoopWhoop Media says, “We foresee a massive shift towards content-driven shopping and Hypd Store is bridging the gap between discovery and transaction with focus on creators. As ScoopWhoop is a tech enabled content platform we realize there is a huge untapped market for content-driven e-commerce. A seamless experience would involve a modern content platform and a discovery engine which is complemented by the option of transacting on the same platform. ScoopWhoop and Hypd are well positioned to provide this today”.
This investment comes at the perfect time. As per IAMAI Reports, India is becoming more mobile-savvy as we speak, nearing 500M mobile internet users. With ecommerce growing at a CAGR of 38.6% in FY’17 to FY’20, content to commerce channels are expected to make 15% to 20% of all ecommerce sales in the next 5 years.
With the exponential rise in D2C brands within India, HYPD Store is tailored to be the platform of choice for brands looking to make an impact in their consumer’s mind. Some of the D2C brands HYPD has worked with since beta launch are TheManCompany, Doodlage, PeeSafe, Fast&Up, Khadi Essentials, Flatheads, etc.
Source: Business World
