Started by IIT Mumbai Alumni, Kiko TV is a live video shopping social e-commerce platform. The company has used technologies like AI to create a near shop like experience. The advantage – unlike a static e-commerce platform, where a buyer does not have any option to ask questions or interact with a live spokesperson, Kiko TV allows buyers to interact and ask questions.
Says Shivam Varshney, Founder, Kiko TV, “Today, e-commerce is just 5% of the total retail sales in India. There are multiple reasons why we are not able to digitalize the remaining 95% transactions. Most of the buyers on other social commerce platforms are impulse buyers. If we have to move these transactions from impulse buying to a long term relationship, there has to be better interaction between the buyers and sellers. The current e-commerce model does not serve this purpose. Our assisted shopping model helps in a better conversion model, as it fulfills a gap in the market by providing a solution to this need by introducing a two-way live video communication between the seller and the buyer.”
Kiko TV leverages technologies like AI to convert a passive video into a shoppable video by embedding product information and purchase processes to ensure video interactions can easily convert into purchase decisions and the purchases can be consumed in the same session. The company has over 50 verified sellers and has forged partnerships with e-commerce giants such as Amazon, Flipkart and Myntra. With high speed Internet availability becoming more common today, players like Kiko TV have a big opportunity of creating their own niche in the market with an assisted shopping experience.