IndiaMART-The Evolving B2B Marketplace |
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Over a period of time, IndiaMART also used innovative technology to provide better services to its customers. In 2011, the company provided buyers with various services that included auto generated requests for quotation (RFQs) and computer algorithms that helped match the right sellers and buyers.
IndiaMART also stored user history in order to offer buyers a high degree of personalization. This led to higher conversion and repeated usage... |
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| The company’s prime source of revenue from suppliers was through the suppliers’ advertisements and targeted subscriptions. For a fee, IndiaMART offered suppliers a chance to advertise their products on its site through banners and roll-on advertisements . The suppliers could choose one of the two options offered by the company – subscription model or pre-paid model. According to industry sources, the acquisition cost of a supplier for IndiaMART was Rs.15,000. That was the one-time fee paid by the customer for a subscription model.... |
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| From the time it was established, IndiaMART had enhanced the Indian B2B marketplace. In 1996, when it began operations, India had opened up its economy. However, there were not enough avenues for Indian businesses to interact with global businesses, especially with US businesses. The websites of exporters and SMEs were not search friendly. IndiaMART helped these companies to redesign their websites to generate business. Its platform helped the export business of various Indian companies to flourish.. |
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| Not all IndiaMART’s ventures were a success. In 2014, the company started an online retail platform called Tolexo.com. The new website intended to create a B2C-like experience for the B2B retail world. On Tolexo.com, the buyer could place an order, after which the entire process of order fulfillment, payment, and delivery of the product was done online, similar to a B2C website. While the deliveries were done by third party service providers, the delivery charges were borne by the buyer. The company charged a percentage of sales from the supplier. There was also an option for customers to give reviews and feedback.. |
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| As of 2017, IndiaMART was in the process of developing a lead management system which would help the suppliers to better manage the leads generated. The lead management system was to be integrated with the CRM (customer relationship management) system and was expected to be provided as a bundled tool kit. The features of the tool kit were website creation, listing of the products, lead buying, payment service, and CRM system.. |
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Exhibit I: Details of Small and Medium Enterprises in India as per the MSME Development Act 2006
Exhibit II: Details of the Payment Gateway - IndiaMART PayX
Exhibit III: Products and Solutions provided by IndiaMART for Suppliers
Exhibit IV: Various Subscription Models Provided by IndiaMART
Exhibit V: Process of Submitting Buy Requirements
Exhibit VI: Details of the Large Manufacturing Companies under the Big Brand Initiative
Exhibit VII: Details of the B2B Companies Competing with IndiaMART
Exhibit VIII: Expected Growth of B2B market by the year 2020 (In billions of US$)
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