Sanjay Kaul, former Country Manager – Apple India, has announced the launch of Sofyx, a social commerce platform for general traders dealing in smartphones and accessories. Once celebrated for building two key smartphone businesses from scratch, Kaul is now dedicating himself to making technology accessible & affordable for small retailers.
In the venture, Kaul is supported by Co-founder Mukesh Kachroo, former Chief Technology Officer – Gain Capital Group, USA. Meanwhile the platform enables business networking, engagement, real-time feedback, and community building amongst the stakeholders. Besides, it helps drive business transactions between various partners. Sofyx also streamlines and digitizes in-store operations, buying, as well as customer interactions. One of the key goals for the company is to improve customer retention and drive footfall to these small retailers. With this intent, the company is launching its services with top smartphone selling shops in Delhi NCR. These shops contribute to over Rs. 2000 crore in smartphone revenue per year.
According to Kaul, while larger businesses may be positioned well to plug into a rapidly evolving digital India, smaller businesses still lag behind. “I firmly believe we can transform these small stores into a significant channel that brands, distributors and customers would love to engage with.” he says.