SpiceGems: Handholding E-Commerce Companies For Assured Business Growth

CIO Vendor Capitalizing on the latest technological advancements such as Cloud and SaaS-based delivery models, the world of e-commerce is growing at an exponential pace. According to a report by BCC Research, the global e-commerce market is projected to become USD 5,879.1 billion by 2022, growing at CAGR of 16.8 per cent. While majority of the market share is dominated by big giants like Amazon, E-bay, Alibaba, Flipkart, etc. there also exist a large number of small size e-commerce companies adding their bit to the market, relying on SaaS-based e-commerce platforms to reduce the total cost of ownership and compete with top tier companies in the market.

However, increasing online advertising and promotional costs have emerged as a roadblock for the e-commerce companies which typically choose online platforms for product marketing, hindering them from realizing their goals in terms of increased sales and revenue. So, e-commerce businesses are looking for relevant technology solutions that can help them increase their conversion rates to improve ROI. This is where SpiceGems, a Kota headquartered company positioned itself in the industry by delivering innovative solutions that enable e-commerce companies to generate more leads, increase the conversion rates and average order value at the same ad-spend.

Customized Solutions to Suite Specific Requirements
SpiceGems, incepted in 2015 by two friends Ankit Agarwal and Varun Batra with a mission to help e-commerce companies in their business growth, offers SaaS-based solutions to clients across the globe. Some of the products of the company that help e-commerce merchants improve the conversion rate are Product Kits, Return Management System, GeoIP Country Re-Direct, Spice Image Gallery, Product Addons, etc. “Today’s e-commerce businesses prefer SaaS-based solutions rather than conventional onpremise software solutions due to cost constraints. These businesses look from a technology partner, not just the solutions but a long term relationship to solve their problems cost-effectively. We provide solutions along with seamless customer support to add extra value to their business in the long run,” informs Ankit Agarwal, Co-Founder and CEO, SpiceGems. Ankit brings on to the table over 13 years of experience in Product Management, Software Engineering, Business Planning, Financial Analysis, Decision Analysis and Entrepreneurship that helps him quickly understand and navigate the ever-changing digital world. “We create Shopify applications for e-commerce companies that enhance their business growth with increased sales. We also customize applications as per the specific requirements of clients and help them make the most of our solutions,” says Varun Batra, Co-Founder & CTO, SpiceGems, who wrote the entire framework over which the company’s products are built.

Increasing Average Order Value through Product Bundling
The easiest way for e-commerce companies to increase their revenue is to increase the amount of money customer spends on each order, in other words- average order value. This technique proves to be a better business strategy than increasing the customer base to increase sales with minimal marketing costs. Helping e-commerce companies increase their average order value for better revenues and business growth, SpiceGems created an application called Product Kits that enables them to bundle the products for customers while they purchase. Product Kits application bundles various selected child SKUs to a master SKU and delivers to the customer on discounts, creating a win-win situation for both e-commerce businesses and customers. “We enable e-commerce companies to increase the average order value through product bundling. For instance, if a customer is buying a sweatshirt, then, Product Kits can bundle it with a pair of shoes and socks, and offer a discount for the customer. This not only helps e-commerce companies increase average order value but also offers more products to consumers at low prices,” explains Varun about their Product Kits solution.

Reducing Operational Costs Associated with Product Returns
Product returns and associated refunds are the biggest cost concerns for businesses in the e-commerce domain. Most of the customers check for the return policy before shopping and would prefer shopping with merchants offering hassle-free return policy. And returns incur huge revenue loss for businesses in terms of shipping costs, apart from the damage of reputation. Return Management System - a product from SpiceGems helps businesses
reduce the operational cost related to the product returns and provide a seamless experience in managing returns. The application makes it easy for the customers to file a return and allow them to return multiple products on a single return request. It empowers sellers to handle the product return requests easily with a minimal workforce, saving them from increased operational costs of managing returns. It also provides analytics in the form of graphical reports about the most returned products and most common reasons for the returns etc. Thereby, enabling business owners to take necessary actions to increase profits. “Our application drastically reduces the cost of managing the returns for e-commerce businesses by automating the monotonous and time taking tasks and help them increase the process efficiency,” affirms Ankit.

Redirecting Visitors to Regional Sites for Increased Conversions
Despite huge spending on marketing campaigns, increasing the conversion rate is a big challenge for e-commerce businesses. SpiceGems created one of its kind solutions called GeoIP Country Redirect that helps to increase the conversion rate. The application is perfectly suitable for e-commerce companies with a presence in more than one country. It automatically and instantly redirects the website visitors to the regional sites based on their IP address and displays a redirect message on a pop window for the user, thereby boosting the conversion rate. The application by supporting multiple redirecting rules allows the business owners to easily enable or disable the redirection of website visitors based on specific rules and helps them handle the huge traffic. “Customers usually trust stores that are native to them. Our Country Redirect by redirecting customers to their respective regional stores can help to increase the conversion rates dramatically,” explains Varun about their Country Re-Direct application.

We help ecommerce companies get a better ROI on their advertising spend. Our customers see an uplift in conversion rates and an increase in average order value

Enhancing Customer Engagements
Customer engagement plays an important role in the success of any business. Spice Image Gallery, an application from SpiceGems helps to increase customer engagement by creating beautiful image galleries, which in turn increases the conversion rate. Spice Image Gallery enables businesses to create and display responsive images for their e-commerce store. It allows them to embed images that are compatible on all platforms and screen sizes without any coding. By loading images from the CDN (Content Delivery Network), the application provides better experiences for the customers with fast loading of images.

“We create shopify applications for e-commerce companies that enhance their business growth with increased sales. We also customize applications as per the specific requirements of clients and help them make the most of our solutions”

“We engage with our clients to know and understand their unique requirements and pain points, and accordingly customize our solutions to suit their specific needs and help them maximize their revenue by increasing the average order value and conversion rate. Our cutting-edge technology solutions help clients to double the conversion rate. Today we have more than 2000 customers using products to add value to their e-commerce business; this serves as a testimony for our commitment towards clients in helping them increase their sales and reducing total cost of ownership,” concludes Ankit. The company is investing heavily in the development of advanced technology products that are focused on improving the conversion rate. Currently, the company has three products in the pipeline that is to be launched in the next six months to cater to the needs of the e-commerce industry.