 "ShopClues gives India's e-commerce space its first wholesale-only site")
India’s crowded ecommerce space is set to expand with the launch of the country’s first online wholesaler as part of the ShopClues website.
The Economic Times reportsthat the new site will launch with 60 merchants covering a range of products from electronics to furnishings to auto accessories and beauty products. Electronic goods will be priced two to three percent lower than retail prices and certain categories, like apparel, can see a difference of as much as 50 percent.
Co-founder and CEO of ShopClues Sanjay Sethi is quoted in the article as saying, “We could already see that a number of our buyers were purchasing in bulk on our retail platform. We decided to actively enable this.” At present, about 15 percent of the orders are bulk, which is quantified as more than 10 pieces per product.
[caption id=“attachment_78263” align=“alignleft” width=“380”]  Screengrab taken from website[/caption]
The company raised Rs 93 crore from Helion Venture Partners and Nexus Venture partners last year.
The nascent wholesale market in India’s online space means there aren’t any concrete prediction figures but global examples like that of Alibaba’s 1688.com, which transacted orders worth over Rs 4,200 crore in one day, give industry watchers much hope.Since the site will have the first mover advantage in the wholesale e-commerce space analysts believe it has the potential to become a big player.
Other retailers in India like Amazon and Flipkart do allow bulk orders, but that is dependent on the number of items in stock. eBay allows wholesale listings but there is no difference in pricing between wholesale and retail orders.
IAMAI predictions suggest that the Indian e-commerceindustry has increased from $3.8 billion in 2009 to $9.5 billion in 2013.
Read the entire_Economic Times_article here.
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