The Indian e-commerce market is growing rapidly, with the average Indian online shopper spending about US$100 per month on e-commerce. The majority of online shoppers in India are millennials, and the number of online shoppers in India is expected to reach 300 million by 2025. In this scenario, traditional brick and mortar retailers also need to register their online presence to tap the online market. Here, Yango Tech comes into the picture which is well-positioned to help retailers in India succeed in this fastest growing online market. The company offers a wide range of solutions that can help retailers improve their digital operations and deliver a better customer experience. We spoke with Max Avtukhov, CEO and Co-founder, Yango Tech to know more about the company’s innovative services.
1. Tell us how Yango Tech was started and how it was conceptualised and developed into what it is today across the geographies.
Yango Tech emerged from a recognition of the substantial potential within the e-grocery market and the broader e-commerce landscape, globally. We closely studied the numbers, revealing a dynamic industry poised for innovation and efficiency. With a strong belief that technology is the key to staying ahead of the curve and achieving success in today’s rapidly progressing landscape, we drew upon our extensive tech and business expertise to establish Yango Tech in 2022. Our journey began with a deliberate entry into the MENA region. Subsequently, we extended our footprint into India and other markets, driven by a commitment to navigate the evolving e-commerce landscape. Our mission is to empower businesses that seek to seize a significant market share of e-commerce and drive exponential growth by adopting the most innovative technologies.
2. Tell us about your product/ service range, its USP, and the technology you are using.
Yango Tech’s robust tech stack centres around a sophisticated warehouse management system, offering real-time inventory insights and streamlining order processing for e-grocers. Our auto-replenishment system, driven by machine learning, accurately predicts demand, optimizing stock levels based on historical data and external factors.
Our White-label Store App, infused with machine learning features, creates a unique customer journey through rich options at each step, topped by enabled personalized discounts, bundles and upsell offers. Tailored solutions for couriers and warehouse staff enhance delivery routes and maximize efficiency in dark stores.
Our analytics tools, covering commercial metrics and delivery data, provide actionable insights for data-driven decision-making. Identifying bottlenecks and optimizing routes improves overall operational performance, fostering transparency and customer satisfaction.
With a proven track record in large-scale grocery delivery, our tech stack empowers traditional retailers and e-grocers to thrive in the digital landscape, leveraging advanced technology and data-driven insights.
3. How has the market responded to Yango Tech so far in India?
We have made a recent entry into the Indian market, and the response has been encouraging. E-retailers and companies in India have shown a keen interest in our solutions. The market’s initial reception indicates a promising potential for Yango Tech’s offerings in the country and we have several ongoing negotiations in the works.
4. Who is your target consumer and why do you think your brand has been popular amongst this segment?
At Yango Tech, our current focus is on supporting traditional retailers in their shift from brick-and-mortar to the online space. In a short span, we assist your favourite chain store in acquiring an app, setting up an efficient web store, managing deliveries, and implementing an automated warehouse system, helping them navigate the e-commerce landscape.
For e-grocers, our smart technology solutions aim to enhance operational efficiency across various processes, including supply chain management, client experience, analytics, fulfilment, and deliveries. With our user-friendly tools, e-grocers can ensure timely and complete deliveries, allowing them to tap into the growth potential of the e-grocery market in India.
The e-commerce landscape’s steady growth, accompanied by consumers’ preference for online shopping, underscores the relevance of our services. We offer practical, technology-driven tools to succeed in the e-commerce era. Our approach is customer-centric, fostering collaborations and partnerships to better understand our client’s challenges and objectives, ultimately positioning us as a reliable partner in their e-commerce journey.
5. How has the growth journey been for the brand in terms of market expansion and revenue?
We apply a revenue share model, thus we have a vested interest in our partners’ growth and sustainability.
6. What is your vision for the company?
Our vision for the company is to be a transformative force in the e-grocery industry. Our ultimate goal is to establish Yango Tech as the global industry standard for e-grocery technology solutions, thereby setting the highest benchmarks for efficiency, speed, and innovation within the industry.
This vision drives our constant commitment to upholding certain standards in everything we do, from creating state-of-the-art warehouse management systems to crafting online stores that redefine user experiences.
7. What factors have led you to enter the Indian market?
Yango Tech’s expansion into India is primarily motivated by the immense growth potential within the Indian grocery market. The Indian grocery retail sector is not only substantial but also steadily expanding. With an estimated market worth of $700 billion, it is experiencing a Compound Annual Growth Rate (CAGR) of 10%. This growth is attributable to various factors, including the increasing popularity of online shopping, a growing middle class, and rising disposable incomes among the Indian populace.
Additionally, the vast and diverse population of India, which exceeds 1.3 billion people, offers an incentive for Yango Tech to enter the Indian market. Yango Tech tailors its solutions to cater to a wide array of grocery retailers and e-grocers, effectively addressing the unique needs of various segments within this diverse market.
We are enthusiastic about establishing partnerships with Indian retailers and e-grocers. We believe that with the right technological tools, it is possible for businesses to not only improve operational efficiency but also seize a substantial market share within the e-commerce landscape.