TradeIndia ventures into the B2B commerce space by opening the revolutionary ‘TI Shopping’ portal
TradeIndia, the country’s leading B2B online marketplace platform has formally announced its entry into the B2B Ecommerce space by launching TI Shopping, a state-of-the-art e-commerce platform where customers can buy products directly onsite on the TradeIndia platform. Offering numerous categories but primarily focused on the FMGC category to start with, the B2B trade and e-commerce player has also partnered with ePayLater, to offer interest-free credit to both buyers and sellers.
Inspired by Evidenced already in the success of global e-commerce and retail giants such as Alibaba and Alipay that together created a force multiplier, the launch of TI Shopping together with ePayLater is an important transformative milestone for the country’s comprehensive B2B commerce ecosystem and is slated to further TradeIndia’s growth and expansion objectives. It is an ambitious step designed to revolutionize the B2B sector in the country by simplifying and streamlining the payment and transactional ecosystem through a zero-interest payment service.
The TI shopping platform focuses on capitalizing on the B2B Ecommerce market in India as the rapidly burgeoning sector where small and mid-sized businesses like Kirana stores, hotels & restaurants, offices, etc are targeted online, creating a $60 billion revenue opportunity. The Indian retail ecosystem is a $1 trillion market of which food & grocery comprises a substantial 65% share. About 96% of this market remains unorganized and is served by over 14 million Kirana stores; the rest 3% comprises organized brick & mortar retail, also called modern trade, and the remaining 1% constitutes B2C e-commerce.
On average, a Kirana store procures about Rs 6 lakh worth of supplies every month. If 50% of this purchase is transferred online and even if the Kirana store orders online on a daily basis, the average order value will still be at Rs 10,000. This is an order of far greater magnitude than that of consumer-led online grocery.
Commenting on the launch, Mr. Sandip Chhettri, CEO, Tradeindia: “We are thrilled to announce the launch of our marquee project, the TI shopping platform that will enable buyers and sellers not only to simplify the shopping process but also offer interest-free credit to both. We have long been associated as the leading emissaries of the B2B circuit but now we are ready to plunge deep into the realm of B2B commerce. As India is the largest hub of small businesses and ‘Kirana stores in the world, such an industrious transition will hold enormous growth potential and expansion opportunities for the overarching industry.”
With this latest move into the B2B space, TradeIndia has onboarded more than 1000+ Sellers and over 4000 SKUs with the aim of connecting a vast number of small businesses to interact and procure directly from Manufacturers and Suppliers and also help them to gain access to credit.
Enabled on the TI Shopping platform, ePayLater offers credit lines of up to INR 25 lakh through a simple and intuitive process that can be completed by buyers anywhere in India within 10-15 mins.TradeIndia Shopping’s crucial collaboration with ePayLater will prove instrumental in readily aiding a network of 600,000+kirana shops spread across 400+ districts in the country to transact via this state-of-the-art platform. ePayLater has already enabled credit access to over 10% of this comprehensive Kirana network nation’s comprehensive Kirana network and has built an approved credit pool of over 400 Cr already.
Customers such as Kirana shops will now have the opportunity to purchase products directly on the TI shopping portal with TradeIndia paying on behalf of the procurer and later receiving payment from the buyer within an interest-free duration of 14 days. This will be realized through TradeIndia’s cutting-edge optimization of advanced AI technology that will help both buyers and sellers locate promising leads and avail of credit facilities, respectively.
As India is credited with being the largest ‘Kirana’ market ecosystem around the world, the launch of TI Shopping in the B2B commerce category is said to hold tremendous opportunity and growth prospects for countless buyers and sellers in the country.