Streetz Hyperlocal Pvt. Ltd.
Streetz: Redefining Hyperlocal Shopping with Curated Stores and Super Fast Delivery
Monish Shah is an experienced professional with a strong background in startups and entrepreneurship. He began his career at renowned companies such as IBM and The Boeing Company, but his true passion lay in entrepreneurship.
Monish successfully launched his own FMCG venture, grew it, and eventually sold it to Rasna International. Following his entrepreneurial journey, he went on to work with various startups at different stages of development. These include an early-stage startup Shuttl, middle-stage startups Swiggy and Livspace, and a late-stage startup Flipkart. Monish’s driving force is his desire to build and scale impactful ventures, aiming to make a positive impact in the world.
“I’m a simple guy with big dreams and I’m someone who keeps learning with a growth mindset. I’ve work experience across multiple business functions. My leadership style is that of a democratic leader and I like to lead from the front. Proudly starting up again in Hyperlocal Marketplace space!”
Company Overview
Streetz Hyperlocal is a carefully curated Marketplace that offers swift deliveries from local shops, specifically catering to fashion, lifestyle, and gift products. With a mission to disrupt the way consumers shop locally, Streetz is all set to launch its services in Ahmedabad in August. The company focuses on several categories, including clothes/ garments, footwear, cosmetics, beauty and healthcare, kidswear and toys, flower gifts and accessories, as well as mithai, chocolates, and bakery items. By covering these diverse areas, Streetz aims to provide a comprehensive range of products to its customers.
The ultimate vision of Streetz is to establish itself as the indisputable leader in India’s hyperlocal market. To achieve this, they aim to connect with a large customer base at the opportune time, capitalizing on localization to drive sales and enhance profitability. By constructing a robust hyperlocal ecosystem, integrating advanced technology, and fostering strategic partnerships, Streetz can identify customer preferences and optimize its operations for maximum efficiency. Customer satisfaction remains at the core of Streetz’s priorities.
They emphasize convenience, personalized experiences, and responsive support to ensure that customers have a seamless shopping experience. Recognizing the importance of local businesses as partners, Streetz actively creates economic opportunities and contributes to the growth of the community. Streetz has a revolutionary goal to transform the shopping experience by leveraging the power of localization, innovation, and strong partnerships.
Their mission is to connect communities through a convenient and personalized online platform, empowering both local businesses and customers. They strive to enhance the local shopping experience by offering a wide range of products and services delivered with speed, reliability, and exceptional customer service. In pursuit of its mission, Streetz has set ambitious statistical targets.
They aim to achieve a Gross Merchandise Value (GMV) of 55 million USD. Furthermore, they intend to handle 150,000 orders per day, showcasing their commitment to scaling their operations efficiently. In terms of sellers, Streetz plans to onboard 20,000 sellers from across India, establishing a strong network of reliable partners to serve their customers better.
Through their dedication to supporting local economies, promoting sustainability, and fostering community engagement, Streetz aims to become the trusted and preferred choice for hyperlocal shopping. Their mission is to ensure the growth and prosperity of both businesses and customers, ultimately contributing to the overall development and well-being of the communities they serve.
Industry Background
The Rise of Hyperlocal Delivery Platforms: The emergence of hyperlocal delivery platforms has brought about a revolutionary change in the way goods and services are transported within local communities. These platforms act as intermediaries, connecting customers with local businesses and facilitating on-demand delivery services for a variety of products, including groceries, food, medicine, and other essentials.
The Growing Adoption of Mobile Apps: The widespread use of smartphones and mobile applications has played a pivotal role in the evolution of hyperlocal delivery. Through user-friendly mobile apps, customers can now effortlessly place orders, track their deliveries in real-time, and communicate with delivery personnel, resulting in a smoother and more convenient experience overall.
Technological Integration: Hyperlocal delivery providers have embraced technology to optimize their operations. They employ advanced techniques such as route optimization algorithms, GPS tracking, and automated dispatch systems to streamline delivery routes, minimize delivery times, and enhance overall efficiency. Expanded Range of Delivery Options: To cater to diverse customer demands, hyperlocal delivery services have expanded their range of offerings.
In addition to traditional courier services, many providers now offer specialized options like express delivery, same-day delivery, and specific time slot deliveries, offering greater flexibility and meeting the evolving expectations of customers. Collaboration with Local Businesses: Hyperlocal delivery providers have forged strategic partnerships and collaborations with local businesses to enhance their service offerings.
By integrating with neighbourhood grocery stores, pharmacies, restaurants, and other retailers, they can offer a wider selection of products and fulfil orders more efficiently, ultimately benefiting both the delivery providers and the local businesses involved.
Conclusion
Streetz positions itself as a hyperlocal marketplace specializing in highend fashion and gifts, offering curated stores and the unique advantage of 1-2 hour delivery. With a company-owned delivery fleet, they ensure prompt and efficient service, enhancing the customer experience. A dedicated team of Sales Account Managers provides personalized support to buyers and sellers, adding to customer satisfaction.
An inventory-free approach sets Streetz apart. Instead of managing its own stock, the startup acts as a facilitator, connecting customers with a diverse range of curated brands and stores. This enables them to offer a wide variety of products without the burden of inventory management. Moreover, they offer a premium delivery service with faster options available for a nominal fee.
The pricing structure is fair and transparent, with a fixed charge of Rs 100 per order up to Rs 1000, and distance-based charges for orders exceeding Rs 1000. To encourage product exploration, customers can trial up to three items at a nominal cost of Rs 50 per item, enhancing the shopping experience by allowing them to experience the product firsthand before making a purchase decision.
The marketplace focuses on diverse categories, including home décor, kitchenware, clothes and garments, footwear, cosmetics, beauty and healthcare, kidswear and toys, flowers, gift articles, and chocolates & mithai. By curating a portfolio of trusted brands and stores within these categories, Streetz offers customers a comprehensive selection of high-quality products.
With its curated-stores portfolio, efficient delivery system, inventory-free model, trial options, and revenue generation mechanisms, Streetz aims to revolutionize the shopping experience for customers while providing a valuable platform for merchants to showcase their offerings and boost sales. The startup successfully launched its app with 50 sellers on board, showcasing the achievement of the sales team in building trust among sellers and convincing them to be early adopters of a completely new product and team.
Parting Words
Embrace failure as a stepping stone to success. Entrepreneurship is a journey filled with ups and downs, and setbacks are inevitable. Instead of fearing failure, view it as an opportunity to learn, grow, and iterate. Each setback provides valuable lessons to help you refine your business strategies and approach. Lastly, connect, collaborate, and unlock boundless possibilities in the world of business. – Monish Shah
