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Fabmart's e - Tailing Model |
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"The net offers Indian business a great opportunity to reach the customer directly without layers and other media in between. The net will bring the customer inside boardrooms for the first time, creating turmoil in organisations. But those who leverage on the opportunity will make it big." - K. Vaitheeswaran, VP (marketing), Fabmart.com. Introduction
All its initiatives paid off, with Fabmart's customer database increasing to 1,
60,000 shoppers worldwide by early 2002. By early 2003, Fabmart widened its
field of operations, concentrating on three main areas. Its first area of
focus was electronic retailing; the site had a variety of stores in
different categories. Secondly, it focused on web services by offering
corporates services like payment gateways4 and
web-based Business Process Outsourcing (BPO) solutions. Thirdly, it
concentrated on its physical chain of grocery supermarkets in Bangalore and
planned to expand it to different cities with a mixture of physical
retailing formats.
He added, "We wanted a name with four characteristics: it should convey precisely what we stand for, it should be very crisp and short with just one syllable, the company name and URL7 should be the same, and there should be no possibility of a spelling error while typing in the URL." On the basis of these conditions a few names were short listed and the name Fabmart ("Fab" as in "Fabulous")8 was found suitable.
1]
The most coveted and longest-running Information technology products award in
India. The award is based on an all-India survey conducted by Indian Market
Research Bureau.
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