In today’s fast-paced world, we have become accustomed to instant gratification in various aspects of life, including quick deliveries of groceries and food. However, when it comes to non-perishable products ordered online, the typical delivery time is often 3-4 working days.
Siksti, a Bengaluru-based startup founded by Akshay Gulati and Bipin Singh, aims to revolutionise the ecommerce delivery landscape by offering hyperlocal solutions that bring delivery times down to less than 60 minutes.
Recognizing the Need for Faster Delivery
Akshay Gulati and Bipin Singh, who previously worked at retail tech SaaS venture Purple, noticed a growing demand for faster delivery in the fashion, beauty, and personal care space. Large ecommerce platforms and independent brand websites were struggling to deliver products within the desired time frame, primarily due to warehouse limitations. To address this challenge, the duo decided to tap into the network of offline stores and create an omnichannel platform that leverages existing retail infrastructure for faster deliveries.
Introducing Sikisti: The Hyperlocal Omnichannel Ecommerce Platform
Launched in June 2023, Siksti is a 100% omnichannel aggregator brand that collaborates with existing beauty, personal care, and fashion stores to offer hyperlocal delivery of products. The platform does not hold any inventory or dark stores but instead relies on a network of retailers to fulfil customer orders. With over 300 brands available, including popular names like Lakme, L’Oreal, Maybelline, and more, Siksti aims to provide a diverse range of products to its customers.
The Process of Hyperlocal Delivery
Siksti’s app, available on Google Play Store and Apple App Store, showcases nearly 300 brands operating in the beauty and personal care space in Bengaluru, with access to over 15,000 unique SKUs. The platform integrates with multiple retailers’ backend systems, including ERP and POS, to offer real-time inventory and store-level promotions to customers within a 15-kilometre radius. As soon as a customer places an order, a rider picks up the product from the nearest store within 10 minutes and delivers it to the customer’s doorstep within 60 minutes, ensuring lightning-fast deliveries.
The Business Model and Market Opportunities
The India beauty and personal care market is growing steadily, and Siksti aims to tap into this lucrative opportunity. The startup charges partner stores a commission of 20-25% for collaborating with their platform and delivers products to customers for a flat Rs 25 delivery fee. Currently bootstrapped, Siksti competes with established ecommerce marketplaces like Amazon, Nykaa, and Myntra. The startup differentiates itself by focusing on hyperlocal delivery, providing customers with the same SKUs in under an hour.
Future Plans and Scalability
Looking ahead, Siksti plans to expand its operations to Tier-I cities in collaboration with organised retailers. Beyond that, the startup aims to cater to local sellers, further strengthening its position in the ecommerce delivery space. Despite being a new player, Siksti has already witnessed impressive growth, with 30% repeat purchases and positive contribution margins within the first month of its launch.
Siksti’s innovative approach to hyperlocal ecommerce delivery shows promise in revolutionising the industry and meeting the growing demand for faster deliveries. By leveraging existing retail infrastructure and creating an asset-light model, Siksti aims to deliver products within 60 minutes, setting itself apart from the competition. As the startup scales and expands its operations, it has the potential to disrupt the traditional ecommerce delivery model and redefine customer expectations.
