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Vcommerce

vcommerce.com

Founded Year

1997

Stage

Acquired | Acquired

Total Raised

$79.5M

About Vcommerce

Since 1997, Vcommerce has pioneered innovation in eCommerce solutions for retailers - in effect mastering the technology of online selling so retailers could master the art. Because of that investment of time, resources and years of client service, many leading online retail brands today are Powered by Vcommerce. Clients can choose to outsource some or all of their commerce-chain functions to Vcommerce or use the entire Vcommerce Enterprise portfolio to power their end-to-end eCommerce business. The company's best-in-class technologies, deep domain experience and best practices enable clients to launch quickly, streamline operations, provide a better customer experience and remain focused on their core competencies.

Headquarters Location

10001 North 92th Street Suite 120

Scottsdale, Arizona, 85258,

United States

480-922-9922

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Expert Collections containing Vcommerce

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Vcommerce is included in 2 Expert Collections, including E-Commerce.

E

E-Commerce

10,022 items

F

Fintech

7,746 items

US-based companies

Vcommerce Patents

Vcommerce has filed 2 patents.

patents chart

Application Date

Grant Date

Title

Related Topics

Status

11/24/2009

3/26/2013

Commerce websites, Information technology management, Online retailers, Promotion and marketing communications, Amazon.com

Grant

Application Date

11/24/2009

Grant Date

3/26/2013

Title

Related Topics

Commerce websites, Information technology management, Online retailers, Promotion and marketing communications, Amazon.com

Status

Grant

Latest Vcommerce News

Vcommerce: The Perfect Avenue For Retailers To Move Beyond The Ecommerce Limitations

Dec 22, 2022

Vcommerce: The Perfect Avenue For Retailers To Move Beyond The Ecommerce Limitations 94% of Indians preferred shopping offline because of connectivity troubles and slow eCommerce penetration throughout the country. Photo Credit : Shutterstock, Vcommerce: The Perfect Avenue For Retailers To Move Beyond The Ecommerce Limitations Vcommerce: The Perfect Avenue For Retailers To Move Beyond The Ecommerce Limitations The future for the Indian retail industry is video selling. Almost 90% of eCommerce startups fail in the first 120 days of commencement. For a successful eCommerce business, you must be a good content creator, have enough money or skills to build a functioning eCommerce website, and pay to be visible on complicated algorithms that most eCommerce platforms have. The COVID19 pandemic pushed an already sluggish retail sector into chaos. With months of lockdowns and multiple restrictions in place, retailers have suffered huge losses. They have no choice but to shut down their physical stores and consider moving into virtual space. 80% market share belongs to two eCommerce giants making it an uphill battle for the average Indian retailer. eCommerce Limitations for India Retailers 50% of Indians will prefer to shop online by 2026, but the Indian retail industry has been at war with the eCommerce market for years. ● High website building and maintenance costs ● Low conversion rates: Average eCommerce conversion rate: 2.27% ● Complex algorithms lead to low visibility online ● High rate of returns and refunds ● monopolistic competition from eCommerce giants ● Untrusting customers vCommerce the Future There are a billion mobile devices in India right now, which means a billion screens to sell. The problem remains with the demanding conditions of the eCommerce market. Imagine a technology that will allow the seller to connect with customers in real-time via video calls. vCommerce is selling and shopping through video. vCommerce is cost-effective, easy to use, and provides shoppers with the in-store experience they missed during the pandemic. Indian retailers are known for their selling expertise and warm customer service. vCommerce enables them to sell their products through their selling skills rather than depend on eCommerce advertising and content creation. vCommerce solutions for the Indian Retail market ● Monthly subscription with SAAS model ● Video store enables easy selling ● Connect with genuine customers ● Enjoy high conversion rates (almost 40%) and better online visibility ● No need for an expensive website or eCommerce store ● Use selling skills instead of digital and social media skills ● Reduce the gap between your physical store and virtual store ● No need for expensive hardware or professional photoshoots ● No complex algorithms Will Indian shoppers adapt to vCommerce? The Indian consumer is a frugal and careful bunch. They do not trust online stores easily and are reluctant to enter bank/card details. The COD option has been both a blessing and a bane for the Indian eCommerce industry. Impulsive buyers choose the COD option and often cancel just before delivery. Nearly 33% of COD orders are not delivered. A Single return can cost between INR.50- INR.150 increasing the shipping expenses for the eRetailer. With video shopping, the customer has the opportunity to see the product before purchase. It also reduces the chances of impulsive cancellations and unneeded returns. Another reason why Indian customers will love video shopping is the in-store experience through live video chats. Even with lockdown restrictions in place, 94% of Indians preferred shopping offline because of connectivity troubles and slow eCommerce penetration throughout the country. The Indian eCommerce market is dominated by foreign players who make it impossible for the average salesperson to compete. Big eCommerce companies can afford multiple returns and refunds, high shipping costs, and bear high advertising costs while offering huge discounts and festive sales. Retail post COVID19 Millennials are the biggest market when it comes to online sales. 50% of Indian shoppers will shift to online platforms by 2026. Indian retailers have to make the shift to survive or risk losing their businesses which have barely survived through the pandemic. The Indian government has implemented many incentives to fast-track the digitalization of the country, which means better connectivity that will enable easy online transactions. The pandemic has already set in motion the virtual revolution of the Indian retail sector. Whatsapp sales gained popularity during the lockdown, and many home-owned businesses popped up on social media sites like Instagram and Facebook. While consumers did not like the lack of privacy of WhatsApp, cracking the social media game is altogether a different albeit more significant challenge. vCommerce is the perfect avenue for Indian Retailers to start selling their products online without the frills and so-called thrills of the eCommerce platform. vCommerce offers an easy solution that enables Indian retailers to do what they do best. Sell. Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house Share this article:

Vcommerce Frequently Asked Questions (FAQ)

  • When was Vcommerce founded?

    Vcommerce was founded in 1997.

  • Where is Vcommerce's headquarters?

    Vcommerce's headquarters is located at 10001 North 92th Street, Scottsdale.

  • What is Vcommerce's latest funding round?

    Vcommerce's latest funding round is Acquired.

  • How much did Vcommerce raise?

    Vcommerce raised a total of $79.5M.

  • Who are the investors of Vcommerce?

    Investors of Vcommerce include Channel Intelligence, Actua Corporation, Benchmark, @Ventures, Archery Capital and 11 more.

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