Akshay Hegde, Co-founder & MD, ShakeDeal

The company currently caters to almost 4,000 small, medium and large enterprises on a monthly basis.

May 08, 2019 05:05 IST India Infoline News Service

Akshay Hegde, ShakeDeal
Akshay Hegde, Co-founder & MD, ShakeDeal, a supply chain guy turned entrepreneur who’s passionate about building tech products with disruptive potential and high impact for the B2B domain. He graduated magna cum laude in Industrial Engineering from Purdue University. As a consultant at Miebach Consulting (USA), he’s acquired demonstrated expertise in distribution, warehousing, logistics and network optimization across projects in the apparel, industrial, and FMCG sectors. He’s also had a stint developing the family business when he arrived in India, which helped while laying the groundwork for Shakedeal. In his time off work, he likes listening to his many audio books and catching up on his favorite television series.
 
In an interview with Shweta Papriwal, Editor, Indiainfoline, Akshay Hegde said, “ShakeDeal is growing at a phenomenal pace and has registered 600% in year-on-year growth. We’re well poised to continue the same growth rate in the future.”
 
Explain ShakeDeal’s business model
ShakeDeal, India's largest B2B e-commerce marketplace which makes procurement easy in categories like industrial goods & supplies, office & housekeeping supplies and corporate gifting. ShakeDeal was formed with the mission to drive out inefficiencies plaguing the traditional means in which business is conducted. Through a robust marketplace, the company is connecting supply chains and closing the gaps in the traditional offline system. ShakeDeal operates two models of e-commerce. In the marketplace model, ShakeDeal connects buyers and sellers and charges commission on the sales. We also deploy a JIT (Just in Time) model where goods are sold by ShakeDeal. In both models we make about 10-15% in commissions/margins.
 
ShakeDeal is client centric to the core. The company uses an asset (inventory) light model unlike other players in their space, streamline supply chain and develop partners to bring out the shortest turn-around times and best service levels, during fulfilment. Being asset light, the company is able to take an unbiased approach while evaluating and recommending industrial supplies to their clients. This process makes the company very transparent and adaptive to changes in market conditions such as stock availability, short supply, obsolete catalogues, etc.
 
What is ShakeDeal’s customer (sellers) acquisition strategy? 
ShakeDeal has a solution-driven approach while acquiring customers in any given market. By focusing on what the customers' pain-points are, the company is able to provide unique, case-wise value ads that differentiate them when it comes to traditional B2B acquisition strategies. We market to acquire customers that are searching for these products online.  We also deploy FOS (Feet on Street) in the relevant target markets for on-boarding big buyers. Our sales teams are equipped with a state-of-the-art lead sourcing engine that enables quality and high intent buyers to be converted.
 
ShakeDeal’s current growth rate and projections - Their journey since inception, customer base, statistical data points, etc.
ShakeDeal is growing at a phenomenal pace and has registered 600% in year-on-year growth. We’re well poised to continue the same growth rate in the future.
 
What are ShakeDeal’s key goals and growth plan for the next year?
We are aiming to double down on our newer business verticals like corporate gifting and office supplies. We are also looking to expand geographically to serve more clients in the northern and western industrial clusters of India.
 
Information on the industry goods market in India (trends, facts etc.). What are ShakeDeal’s future expectations from the industry goods market?
The industrial goods market which happens to be one of the big verticals for us, is growing at a CAGR of 15%. With a global trade war brewing in the background, the push for indigenous manufacturing and sourcing is bound to get stronger. The company is well poised to be there when that happens with a gamut of offerings they are developing for end-to-end procurement.
 
Details about no. of Sales, no. of customers acquired, etc. until now
The company currently caters to almost 4,000 small, medium and large enterprises on a monthly basis. Our aim is to cater to 10,000 such businesses by the end of the year and we are well-poised to achieve that. ShakeDeal has over 4000+ registered seller, over 3 lakh+ products, 40+ product categories, over 1000+ brands to choose from and 21,000+ pincodes for seamless logistics services across India.

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