MUMBAI: Kiko TV has announced its repositioning from a short format video app to an assisted shopping experience platform, making it India’s first AI-powered video and live commerce platform in the assisted shopping segment.
Launched a few months ago amidst the pandemic, Kiko TV has been witnessing a 30 per cent month-on-month increase in the social commerce vertical and will now be focusing on the growing market opportunities present within the same. The start-up will be investing heavily in building the same by acquiring a larger user database and building an aggregator community for sellers.
In the current pandemic, with buyers not able to go to retail outlets or malls to shop, the experience of shopping is missing. Buyers are looking to get a live shopping experience digitally from their favourite stores and brands and Kiko TV aims to fill this gap and provide a solution to this exact need by introducing a two-way live video communication stage between merchants and buyers. Users of the app can now enjoy a seamless shopping experience and discuss the product with the seller before purchasing it. Keeping the current #VocalForLocal and #MadeInIndia sentiment, Kiko TV will feature products from local Indian vendors only.
The new business model will be entirely spearheaded by Kiko TV co-founder and CEO Shivam Varshney. He will be responsible for bringing in partnerships, associations and newer ways of growth strategies. Varshney is an IIT Bombay alumnus and has been closely associated with Kiko TV since inception.
Said Varshney said, “With the social commerce market booming in India and all businesses looking at new ways of reaching out to customers, we foresee this as an excessively big opportunity to capitalise and grow in. Live bidding, live shopping, live interaction with the vendors is a space that is not tapped yet and holds the potential to thrive. Kiko TV will be focusing on this in the coming months.”
Kiko TV has been adding new features and updates on a regular basis to provide users a new experience every time they come on the app. The start-up is consciously putting in efforts to provide the best when it comes to social commerce. Kiko TV is available on both android and iOS and the app has crossed 120k downloads since its launch, with a weekly increase in the active users by 20 per cent
