‘MartJack’ India’s largest e-commerce platform announced that in the short span of 3 years, online stores powered by ‘MartJack’ have achieved a milestone revenue of Rs, 100 Crore.
MartJack, a digital commerce platform developed by Reasoning Global eApplications Ltd, influences a significant portion of e-commerce in India. It is notable that these ‘MartJack’ powered stores are spread across a breadth of business verticals as well as from small local businesses to enterprise. E-commerce has enabled Indian manufacturers and retailers to significantly increase their reach across India and global markets too. With Indian brick and mortar stores expanding to online stores using digital media aggressively for marketing as well as sales, the e-commerce has experienced a second coming in Indian Retail Sector. E-commerce has seen a 30% YoY growth in the Rs. 31000 Crore B2C e-commerce business.
On achieving this milestone Anubhav Kushwaha, Vice President, Business Strategy & Alliances, Reasoning Global commented, “We all are very excited to achieve this significant milestone within 3 years of operations, adoption of Internet & other digital media, as sales and product discovery channels is going to play a decisive role for retailers’ success in the next few years.”
MartJack helps retailers to build their own digital stores across multiple channels including Internet, Mobile & Social Media. Leveraging the eco-system built around MartJack that includes payment solutions, logistics solutions as well as customer acquisition solutions, retailers can reach consumers across digital media and influence them to make purchases both online and from their physical stores.
Jeetendra Joshi, Vice President, Marketing, Reasoning Global mentioned “We wish to congratulate our merchants who have embraced digital channels like the Internet, mobile etc. as sales and customer acquisition channels.” Categories which has seen significant growth are Consumer Electronics, Laptops, MP3/MP4, Digital Cameras, Mobile Phones, Books, Jewellery & Apparel; showcasing the broad acceptance of Internet as a shopping channel among Indian consumers.”
The MartJack Enterprise platform is being used by prominent brands in India like Videocon, Big C mobiles, HCL, Next Retail, Ddamas, Nakshatra, Cygnus, Gili, Olive Telecom, The Bombay Stores, Sangeetha Mobiles, Neerus, Being Human Watches, UB Group, Basecamp etc. There are several international brands too like Sage Clothing, Geraldonline and many more. In parallel a number of local brands and SMBs (small and medium businesses) use MartJack SMB platform to establish their digital presence.
Driving on their years of experience in the Indian market, the Reasoning Global team works on a fundamental premise that, e-commerce in India will be primarily driven by local brands because of the Indian consumers’ behavioral trends. According to Jeetendra Joshi, “Indian consumers are very attached to their local brands irrespective of where they are. Using digital media, these local brands can make themselves available to consumers surpassing geographical barriers”.
Speaking about Reasoning Global’s future plans, Jeetendra Joshi, Vice President Marketing, Reasoning Global said, “We aim to directly or indirectly influence a substantial percentage of transactions in Indian digital commerce industry by FY 2013. The company that has its presence in US & UK already, is also planning to expand its’ presence in GEC countries post April 2011.”