OJI STORES PRIVATE LIMITED

In their own words

Oji is a digital marketplace, where brands have their own digital standalone store. It is a market setup where all the brands get a platform to showcase their products and generate sales. It is like a shopping mall, just online. We at Oji are very specific to not charge per order commission from our clients, as this really effects their profits and thus forces brands to invest more in other mediums of sale. Online platforms charge hefty commissions on each order, from the brands, in return to provide them sales. We at Oji aim to promote the brand to sell maximum through our platform and generate maximum profits for them to grow. In a market setup, malls and market, the shop owners are charged a rent, which is irrespective on the number of orders a shop get. It is the money a brand pays for its presence, as well as a place to meet their customers. Very similar to this, Oji charges a rent from the brand owners. This rent is basically for a standalone digital store. The rent will be charged on the basis of the size of the store, no. of categories a brand deal in, number of SKUs a brand sell etc. This rent will be charged on monthly basis from all the brands, very similar to the traditional physical setup. This is the primary source of revenue for Oji. Also as the Oji assures the customer satisfaction, and make sure that customer do not get cheated at any point. Oji has to releases the funds collected from the customers against the products sold. We accumulate the funds from the sale made in fifteen days and then transfer that funds to the brand owner after fifteen days. This payment cycle is also very comfortable for the brands. Oji is able to generate certain revenue through the interest earned from this payment cycle, on the product payments collected from the orders placed. This is a great source of revenue for Oji.

Written by the company on its public Startup India profile. Not verified by us.