CoutLoot, an online non-grocery retail aggregator, has expanded offline. The retail tech player has opened its first store in Mumbai.
The company plans to open 50 stores by the end of this year in UP, Maharashtra, Gujarat, and Delhi where it will transform and standardize the existing small retail shops selling unbranded merchandise which are already part of CoutLoot’s platform
Jasmeet Thind, Co-founder of CoutLoot said, “ This move is aimed at making at creating a large scale impact both offline and online helping partner seller stores source better, sell faster, and market wider, ultimately growing into bigger scale businesses at the same time serving India’s mass consumer segment. With access to CoutLoot’s tech and data, these stores are expected to increase their sales by 2X in the first year itself due to better way of sourcing and wider channels of selling”
According to the company, with the launch of CoutLoot’s branded stores, customers can expect a more streamlined shopping experience, while small retailers can leverage the company’s technology and expertise to grow their businesses.
On partnering with Om Stores in Malad, its owner Rakesh said, “This partnership is a very innovative and distinctive approach to doing retail business. The positive impact of this collaboration is undeniable, and I sincerely hope that CoutLoot continues to expand its reach and attract more businesses like mine. I am expecting a 3x jump in footfall and sales from this transformed store in the coming months.”
CoutLoot plans to monetize this expansion by providing marketing services, making margins by helping sellers create and launch their own mini brands, fees on the use of tech solutions and data intelligence.