Tata to beat the blues in e-commerce with venture CLiQ
21st May 2016Category : E-CommercePublished by :Rahul Verma Reading Time : 3 Minute News Sourced : India
The battle of online market place is getting fiercer as new entrants are adding more spice to the e-commerce. The Tata Group is the most trusted name for years to ride with platform Tata CliQ through Tata Unistore to take on Flipkart, Amazon and Snapdeal into e-tailing business.
The Tata CLiQ will offer consumers apparel, electronics and footwear products and to take off by adding more categories, brands and features into its kitty.
"Clique and Click came together to form the perfect name for our platform, which curates authentic and exclusive products for customers with impeccable taste. A name that says shopping online is now so easy and trustworthy, that all it takes is a click. The 'Q' in the logo represents a magnifying glass – a visual representation of the brand's focus on curating only the best brands and products," said Ashutosh Pandey, chief executive officer, Tata CLiQ.
According to the report by Goldman Sachs, the e-commerce market will account for 2.5% of India’s gross domestic product by 2030, growing 15 times and reaching $300 billion . The present size of e-commerce is $20 billion.
After smelling the essence of e-commerce, India’s biggest business houses are getting in to this business. The diversifying Mahindra Group has also announced plans to come up with its e-commerce venture M2ALL.com through e-Marketplace Pvt. Ltd.
The Aditya Birla Group has a new online fashion portal www.abof.com with brands from both the Group and other companies. Mukesh Ambani-led Reliance Industries briskly has entered into e-commerce fashion retail though AJIO, to cater the demand of the youth.