As the world witnesses the ecommerce boom and the market realizes its potential, even big corporate houses are making a move to tap its potential. The most recent example being the Mahindra Group that has ventured into the ecommerce space by launching M2ALL.com – a portal that sells Mahindra products.
The website currently offers products including cars, two wheelers, real estate and power solutions, and are available at the same prices as its offline channels. The portal will increase its product categories in the next two years and sell products of all Mahindra Group companies, including products and services of other manufacturers.
This portal that was launched on Monday, has started taking orders for Mahindra’s new compact SUV — Mahindra TUV300.
Mahindra e-Market Private Ltd, a 100 per cent subsidiary of Mahindra & Mahindra, owns this portal and will operate under the aegis of VS Parthasarathy, the CFO of Mahindra Group. A small team of 10 people are currently involved in this venture and the company looks to expand this team soon.
“India’s e-tailing market is expected to reach $50 Bn by 2020, growing at a CAGR of 47%. We are seeking this opportunity and this is the right time to go into it,” said VS Parthasarathy.
“The portal works on the ‘click and brick’ model with the products being ordered online will be delivered by our partners including dealers, distributors and logistics teams. Basically, we will use the existing channel for delivery of products and at the same time we are building capability to improve delivery,” he added.