About 150 million people in India or around 75 million households are ready for ecommerce in India today. However, less than 10 million are engaged in active ecommerce today. The potential of consumer e-commerce in India by 2024-2025 is likely to touch around 594.8 million individuals or 297.4 million households. You can only guess the market size of the ecommerce industry in the coming decade!!
Amazon India has gone live with the launch of portal, Junglee.com, which Amazon acquired in early 1998 from Indian entrepreneurs Rakesh Mathur and Ashish Gupta. Junglee is an online product comparison and advertising site with several first-of-a-kind features such “real-time customer reviews” from Amazon.com, inline seller store locator for sellers in India and one-stop access to selection from Indian and international sellers. Junglee aggregates detailed product information including customer reviews, price, and shipping speed across multiple sources, including Amazon.com, so customers can research products and evaluate buying options to make an informed purchasing decision. Customers can also write their own reviews, read millions of real-time customer reviews from Amazon.com, “Like” products or sellers, and share products through Facebook, Twitter and email.
Junglee is positioned as a market place which makes buyers and sellers meet, instead of an ecommerce website. It could possibly become a means to drive people to Amazon India in future when they launch the full fledged service in India. The incentive scheme for sellers to post their products on Junglee is very interesting. They can:
1. Drive traffic to your store/website: By advertising products on Junglee.com, one can convert Junglee’s traffic into their own customers
2. List Product Ads for free: No listing fees, no cost per click or subscription fees. On the other side, Ebay.in charges sellers to post ads!
3. Reaching qualified shoppers: Junglee puts products in front of customers who have expressed intent to purchase those exact products
4. Highly targeted placements: Recommended buys when classified in categories means a highly focused sales channel for the sellers
Customers can discover over 1.2 crore products and 14,000 brands, and purchase items directly from hundreds of retailers. Customers can buy products online by following the link to the seller’s website or find a seller’s physical store if they would rather purchase the product in person or call the seller and place an order by phone.
Junglee has an ambitious vision of organizing selection and buying choices. They are relentlessly focused on adding selection and making it convenient for customers to find, discover, and shop anything using the service.
Given that Amazon is launching its ecommerce service in India soon, Flipkart and other ecommerece websites need to ramp up at the earliest and quickly build presence in Tier-II and Tier-III cities of India. Flipkart or Amazon? Do you have a brand loyalty or you will go after the one offering lowest price?