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Omni - a new tale in Retail

If you are an ordinary Indian, you go to the State Bank of India (sbi) to open an account, cash a cheque or even, like Vijay Mallya, take a loan. If you are already an account holder, you go there to buy lingerie. The Juliet Pink Non-padded Bra which, unlike Mallya, will never conceal nonperforming assets (npas), is available for Rs. 185. If you are more bottomline oriented, you could choose the Red Blue Star Ruffle Bum Bloomer (Rs.249).

The folks at SBI might believe they are incubating a new class of assets, but some former chairmen of the hitherto-staid, 200-year-old organisation must be going up in smoke – a second time. “This is a one-stop solution for all your shopping needs, offering great discounts and a large portfolio of products to choose from,”notes SBI on the site – statebank.yourmarketplace. in. It is restricted to SBI debit card holders. But, with millions of SBI debit cards in circulation, that’s a large universe.

Abhay Deshpande, Founder & CEO, MartJack, a digital commerce solutions provider, explains that the marketplace is a product of a marriage between his organisation and the bank. “They have the customers,” he says. “We have the technology platform and the retailers.” MartJack is totally in charge of the operations; there are no bankers here evaluating the assets.

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Microsoft Azure catapults MartJack Enterprise to eCommerce platform leadership

July 28, 2014

MartJack ‘Enterprise’ today announced that it has signed on more than 250 Enterprise customers globally for its Multichannel Commerce Platform, making it the leader in the Enterprise eCommerce Platform space across India and Middle East. The company also said that moving to Microsoft Azure has helped Martjack ‘Enterprise’ acquire this large a customer base in record time.

“The flexibility, scalability, agility and security offered by Microsoft Azure helped us focus on customer acquisition and bring in customized deployments at quick pace with minimal investments,” said Abhay Deshpande, Founder and CEO, MartJack. “Our core interest remains in fulfilling the needs of retail businesses and helping them to win in multichannel commerce world. To achieve this, we were looking for a cloud platform that could power up businesses online, while also being flexible to deal with sudden growth and reduce investment in infrastructure. With the migration to Azure, we have not just added more customers but also supported existing customers to enhance their eCommerce services to offer superior value to their end consumers,” he added

“MartJack is truly optimizing the power of Azure for its business and customers. The open and flexible architecture of Azure has helped the company achieve great success in little time,” said Srikanth Karnakota, Director, Server and Cloud Business, Microsoft India. “Azure has helped MartJack innovate by allowing them to customize workflows quickly and at the same time improve cash flows by reducing infrastructure cost. MartJack users are also able to access their favourite retail brands anywhere across devices of their choice”, he added.

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MartJack Enterprise enables Wal-Mart to click on India eCommerce

We are extremely thrilled to announce that MartJack Enterprise is enabling the Walmart India’s eCommerce Store, which was recently launched. The eCommerce store offers an interactive online shopping site, where registered members of Wal-Mart India’s cash & carry business can place orders at their convenience. Wal-mart’s foray into eCommerce heralds a new wave in Indian eCommerce industry. MartJack Enterprise has been in the forefront of Multichannel Commerce technology and innovation from the past 7 years. MartJack Enterprise has helped over 250+ global enterprise retailers and brands to leverage the best out of Web, Social, Mobile and In-Store channels through its path breaking Multichannel Commerce platform.

Vinod Krishnan, Business Head, e-Commerce and CIO of Wal-Mart India said, “We are pleased with the technology platform provided by MartJack Enterprise for our e-commerce offering. The technology is secured, scalable and reliable and provides an integrated set of applications that makes it a convenient online shopping experience for members of our Best Price Modern Wholesale stores. We aspire to make the e-commerce platform the ultimate choice for our members and expanding the offerings. Today’s smart and empowered consumer has high expectations and I am confident that we will be able to meet them by bringing in innovative solutions in partnership with MartJack Enterprise”.

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Why this made in India product gets e-commerce like no one? The Martjack Story

June 23, 2014

Today, e-commerce has become so much an integral part of the whole shopping experience for Indians. But way back in 1998, Abhay Deshpande had started the first angel-funded e-commerce site for ethnic Indian products called, Malamall.com when most of the India hadn’t even heard of e-commerce.

“I wanted to sell Indian products to the NRI market and showcase the best local products from different cities and towns. There are so many local brands that reside in different towns of our country and I was driven to bring it all on one platform,” he recalls.

Back in 1998, starting an e-commerce company was novel in itself. Determined to make his venture succeed, Abhay left no stone unturned from building a strong franchise network and local partners to sourcing the best products.

But he was way ahead of his time to start an e-commerce startup. Alas, the demand side for his product was not ready, and the dotcom meltdown of early 2000 did not help either. Post the dotcom meltdown, funding dried up and people were not confident to bet on e-commerce.

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Ancillary service providers for e-commerce attracting inverstor attention

May 07, 2014

A network of ancillary service providers offering a host of services - from setting up a portal to converting clicks into a transaction using the software-as-product model - is taking shape in India's ecommerce sector. These ancillaries, helping retailers go digital or venture into mobile-commerce and drive digital marketing and data analytics, are attracting investor interest.

A report by Indian Software Products Industry Round table (iSPIRT) forecasts the software products industry in India to touch $100 billion (Rs six lakh crore) by 2025. "The boom in the e-commerce sector in 2011-12 has led to a maturing of the space," said Abhay Deshpande, founder and CEO of Reasoning Global eApplications in Hyderabad, which in 2007 developed Martjack, one of the early Indian digital commerce platforms.

Citing the success of e-commerce in reaching a wider audience, Deshpande said more offline retailers are looking to explore the space but don't know how. "We help offline retailers go online through private marketplaces and by publishing their catalogs across marketplaces of bigger ecommerce ventures," said Deshpande. The growth-stage company is looking at going global soon, especially the Middle East.

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Tally Solutions, Martjack launch ‘retail revolution’

March 06, 2014

The first such conclave in the series was held today at Hyderabad, with around 100 retailers attending the session

With increasing adoption of technology and penetration of digital media, the retail consumer experience has changed. This has further opened up a plethora of opportunity for retailers. In an effort to empower retailers to understand and tap these opportunities, Tally Solutions, the India's leading business management software company along with MartJack today announced the launch of ‘Retail Revolution’, the one-of-its-kind, pan India education initiative aimed at highlighting the relevance of multi-channel retailing.

The first such conclave in the series was held today at Hyderabad, with around 100 retailers attending the session. The initiative is the brain child of India’s leading retail and technology enablers - Tally, MartJack, Windows Azure and ICICI Merchant Services (Firstdata). Going forward, the initiative plans to conduct education conclaves across India where retail experts and senior retail executives discuss, debate and mentor retailers about the way forward in multi-channel retailing.

Speaking on the initiative, Mr. Shoaib Ahmed, President, Tally Solutions said, “The retail industry in India is facing new challenges with the advent of multichannel retail; we continue to be the provider of relevant biz solutions to our customers and address their evolving needs. The current engagement with Martjack is an important milestone in our journey.”

Elaborating on the association, Mr. Abhay Deshpande, CEO, MartJack said, “We have been providing solutions to retailers in India to help them leverage the benefit of eCommerce for a while now. By partnering with Tally, we have expanded our reach and our association will ensure customers gets the best of both “brick and mortar and eCommerce” solution out of the box!”

Conducted by industry stalwarts like Mr. Shoaib Ahmed, President, Tally Solutions, Mr. Jeetendra Joshi, Director-Sales & Marketing, MartJack, Mr. Srikanth Karnakota, Country Head for Server and Cloud Business, Microsoft India and Mr. Kunal Gothivarekar, Director - Sales, ICICI, Merchant Service, the Hyderabad session received an overwhelming response from retailers who gained valuable insights on retail technology and multi-channel retailing.

India’s retail market is expected to cross 1.3 trillion USD by 2020 from the current market size of 500 billion USD. Further, modern retail is expected to grow about six times from the current 27 billion USD to 220 billion USD, across all categories and segments calling for greater synergy between traditional brick and mortar and Multichannel models. Multi channel retailing involves not only early adoption of the various mediums but also creating an effective and enhanced customer experience across the various channels.

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Tally Solutions and MartJack tie-up to launch education initiative on multichannel retailing

March 06, 2014

The retail industry in India is facing new challenges with the advent of multichannel retail

BANGALORE, INDIA: Tally Solutions, a leading business management software company along with MartJack today announced the launch of ‘Retail Revolution', the one-of-its-kind, pan India education initiative aimed at highlighting the relevance of multi-channel retailing.

The first such conclave in the series was held today at Hyderabad, with around 100 retailers attending the session. The initiative is the brain child of India's leading retail and technology enablers - Tally, MartJack, Windows Azure and ICICI Merchant Services (Firstdata). Going forward, the initiative plans to conduct education conclaves across India where retail experts and senior retail executives discuss, debate and mentor retailers about the way forward in multi-channel retailing.

Shoaib Ahmed, president, Tally Solutions said:"The retail industry in India is facing new challenges with the advent of multichannel retail; we continue to be the provider of relevant biz solutions to our customers and address their evolving needs. The current engagement with Martjack is an important milestone in our journey."

Elaborating on the association, Abhay Deshpande, CEO, MartJack said, "We have been providing solutions to retailers in India to help them leverage the benefit of eCommerce for a while now. By partnering with Tally, we have expanded our reach and our association will ensure customers gets the best of both "brick and mortar and eCommerce" solution out of the box!"

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Tally Solutions bullish on Indian retail market

March 05, 2014, Bangalore

Company currently has a clientele base of around 10 million

Bangalore-based business solutions software provider, Tally Solutions (Private) Limited, is betting big on the Indian retail market and expects to "substantially grow" its clientele base in the sector in the next couple of years, according to president Shoaib Ahmed.

"The opportunity for technology adoption is huge in the largely-untapped retail market. With the changing market environment, the need for technology adoption is going to be critical for retailers. And, it will be imperative for them to adopt in such a manner that they will be able to manage stocks and orders, and improve efficiencies in the entire operations to stay relevant in the changing technology landscape," he said on Wednesday.

Tally Solutions currently has a clientele base of around 10 million, of which close to 100,000 retailers use its generic accounting and inventory management version, while 15,000 use Shoper, an enterprise retail software product that Tally had acquired in 2005.

Announcing Tally's collaboration with MartJack, a digital commerce solution developed by Hyderabad-based Reasoning Global eApplications, for seamless technology integration and joint marketing activities, Ahmed said India's retail market was expected to cross $1.3 trillion by 2020, from the current size of $500 billion.

"Further, modern retail is expected to grow about six times from the current $27 billion to $220 billion across all categories and segments, calling for greater synergy between traditional brick-and-mortar and multi-channel models," he added.

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State Bank Group launches an online marketplace- Smart Shoppe

State Bank Group launches an online marketplace - Smart Shoppe

January 10, 2014

A recent mail to State Bank Debit MasterCard and State Bank Debit Maestro Card holders announced the launch of State Bank Smart Shoppe (statebank.yourmarketplace.in). “State Bank Smart Shoppe is an exclusive offering to meet your shopping needs in the comfort of your home. This Marketplace brings you exclusive offers from reputed merchants across the top brands and latest products under all retail categories like mobiles, books, watches, jewellery, home appliances, gifts, shoes, apparels and accessories,” reads the email.

State Bank Group launches an online marketplace - Smart Shoppe

Reasoning Global eApplications Pvt. Ltd. (RGEAPL) is the service provider developing and managing all aspects of the marketplace portal. RGEAPL is responsible for sourcing offers under this promotion and making them available to State Bank Debit MasterCard/State Bank Debit Maestro Card brand cardholders making payments for purchase of goods & services using State Bank MasterCard or Maestro branded cards on the website. “It is a collaborative marketplace with thousands of products in all retail categories and is driven by hundreds of reputed merchants all over India. The large number of merchants in same categories with similar product portfolio ensures healthy competition at best prices,” says the website.

After IRCTC, this is another effort that’ll help to increase eCommerce adoption in the country. Read about IRCTC’s deal and stay tuned to hear more on the development on State Banks Group’s side.

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SBI partners with MartJack to launch horizontal e-com marketplace; what’s the point?

January 10, 2014

The State Bank of India (SBI), the largest public sector bank in the country, has quietly launched a horizontal e-commerce marketplace for its own debit card holders. The venture is powered by MartJack, an e-commerce solutions provider owned and operated by Hyderabad-based Reasoning Global eApplications Pvt Ltd (RGEAP), which is better known by its product MartJack, an enterprise ready e-commerce platform.

RGEAP has partnered with various standalone retailers in the country and has listed a large portfolio of products, including mobile phones, tablets, LED TVs, footwear, bags, healthcare devices, gaming and clothing.

SBI partners with MartJack to launch horizontal e-com marketplace

All orders will be delivered by the respective merchants, who will update the order and shipping status for each order to help customers track the status of their orders. Shipping costs, zone serviceability, mode of shipping and standard delivery time are applicable as listed by the merchant for each product separately. The management of the platform is with RGEAP.

SBI’s role seems to be limited to channelling its huge customer base to buy through the platform. Interestingly, the bank is currently offering payments only through its debit cards and that too ones associated with MasterCard. Otherwise, SBI also has Visa debit cards. Moreover, the payment option does not include SBI credit cards. This means the bank is trying to push usage of its debit cards.

Currently, it offers additional 5 per cent discount on apparels and accessories. The property also offers special credits, based on one’s purchase history and frequency. These credits are directly credited to the customer’s account and can be used when he/she logs in during the order checkout. SBI claims that its partner merchants are shipping to over 3,000 locations across the country.

What’s the point?

It is not the first time a leading bank in India has launched a marketplace. Private lender HDFC Bank is already running an online marketplace. Unlike SBI’s property, HDFC Bank allows payments through both debit and credit cards. The private lender also pushes its other services and offers on other financial products through the site.

But given that SBI is by far the biggest bank in the country its reach is much more.

Moreover, it’s not the first time an organisation connected to the government (SBI is public listed but majority owned by the government) is venturing into such a business. The government-run railway ticketing site IRCTC had previously partnered with Yebhi to launch an e-commerce property as an extension of its own site. This was essentially to capitalise on the huge eyeballs attracted by IRCTC site every day.

How significant such ventures can be for online retail transactions is something only time can tell. But it raises the question: Why should anyone login to this new site to buy a product? Marketplaces are a growing lot and SBI’s property is just another site in the jungle. The additional discount is also commonplace with every second e-com site offering some discount round the year with debit or credit cards of one bank or the other. And we are not even talking about vouchers!

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Building the online market at the back-end: eReasoning

December 05, 2013

The diversity of goods that are now sold by Indian retailers on the Internet stems from the fact that both small and medium size businesses have been able to latch on to ‘ready-made' bridges that connect their stores to e-buyers. Manning those bridges, in fact building these links, are companies like Hyderabad-based eReasoning Global Applications Pvt. Ltd, which offers a DIY or assisted platform that helps companies - small, medium and large - build an online storefront quickly and painlessly.

"Our platform is meant for companies that want to go online but have no experience in managing or implementing e-commerce systems," says Abhay Deshpande, Director, eReasoning Global.

What's in the box?

E-Reasoning offers it's 'MartJack platform through a SaaS model. BY paying anything between Rs.2500 and Rs.100,000 per month, retailers get access to an online commerce system with 700+ functionalities for managing storefronts, order management, sales tracking and CRM. According to Deshpande, the system can be implemented in a few weeks, as against the months it takes to implement bespoke software or customized solutions within the enterprise.

Storefronts implemented on the e-Reasoning platform are also optimised for mobile devices, and offer integration with social media channels. Aptly named Socialjack, a simple and quick solution which allows businesses to integrate their online store with Facebook and reach millions of people

In addition to IT functionalities, e-Reasoning has extended its offering to include payment tie-ins with leading PG providers like HDFC, EBS, PAYU etc. and logistics support through Blue Dart, Aramex etc.

Businesses also get to promote their products at zero cost by listing their products on market places like HDFC, SBI & Reliance, created and powered by Martjack.

"The idea is to provide an integrated experience, an entire ecosystem to the customer," says Deshpande.

Why a SaaS platform?

"We chose to go with a SaaS platform due to the attractive investment option it offered customers (especially SMBs), and the low lead time to deployment," says Deshpande, adding, "It also makes sense for retailers who find it difficult to get good people to run their IT systems. All the really good IT resources prefer to work for IT companies, not retailers, who often then end up with the second level of talent."

Number Talk

Today, e-Reasoning's MartJack platform supports nearly 2000 retailers. Small retailers account for nearly 50% of this number with medium businesses accounting for 40% and enterprise class retailers like e-Zone and Gitanjali Jewels accounting for 10%.

The platform supports several competing brands, particularly from the jewellery sector, but the company has not faced any issues on the customer data security front. "As the brand grows, people feel more comfortable about these issues," says Deshpande.

For the love of learning

The biggest challenge his customers face is man-power, points out Deshpande. "It is very difficult to find good resources to run operations, which is why we have now started the MartJack Academy to train people in e-commerce operations. These trained people then get placed at our retailers.

On the fast track

Given the overall traction in the e-commerce space, e-Reasoning is growing at a steady pace with 80-100 customers added every month. The company, which posts revenue in the US$ 5-10 million range, says its biggest issue is managing collections. "With many small clients, this can be a challenge, but since we are the custodian of their online brand, we do have some leverage," says Deshpande.

E-Reasoning has over 200 people working for it in Hyderabad and is now spreading its wings to the Middle-East, another retail-oriented market. Growing Internet penetration in the west Asia region coupled with large numbers of small to medium businessesthat face technology challenges similar to those confronting their Indian counterparts, make it an attractive destination for the MartJack platform.

With competition for the MartJack platform largely fragmented, good market traction in India and the promise of growth in the west Asia neighbourhood, E-Reasoning has reason to believe that its cash tills will be ringing for a long time to come!

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MartJack

A Look at E-Commerce in India: How MartJack Helped Offline Retailers Go Online

December 30, 2012

When Indian software company eReasoning built MartJack in 2007, “most offline retailers in India were not tech-savvy,” says founder Abhay Deshpande.

“We thought we should create a platform that would allow small and medium-sized retailers to enter into e-commerce and sell anything they wanted, without knowing a lot,” he explains. At the time, India’s e-commerce market was worth an estimated $1.75 billion, and users didn’t understand the concept of “software as a service” (think Google Apps). “They wanted software, and a service,” he laughs.

Today, the e-commerce market in India has grown to an estimated $10 billion, and MartJack is a leading player in the space. The critical step that helped them scale was building a fully integrated solution in 2009, Deshpande describes.

“The four pillars of e-commerce are technology, logistics, payment, and marketing. For logistics, we integrated with Aramex, and for payment, we initially partnered with HDFC Bank (one of India’s largest). On the marketing side, we partnered with Google, who provided analytics to retailers, and demonstrated that they could use AdWords to drive traffic.”

As for the technology, they built a completely custom platform, that, unlike others, did not use well-known open source e-commerce software Magento, potentially making customers more dependent on MartJack for technical support.

Once the platform launched, MartJack did what any services startup hopes to do- they signed a couple of major retailers, and then used their stories as case studies to demonstrate the platform’s abilities to other offline retailers. Today, over 2,000 brands in India are using the platform, “from leading retailer Future group to small retailers in Hyderabad.”

In India, these are still early days, as the e-commerce industry is set to boom further, perhaps reaching $260 billion, by 2025, according to a report by First Data Corporation and ICICI Merchant Services. Credit card penetration in the country is increasing, says Deshpande, but 40-50% of Martjack’s transactions are still done using cash on delivery, through Aramex. Return rates in the Indian market can generally reach up to 40%, unless retailers follow up extensively with customers, he estimates.

Although the platform has integrated with 79 payment options throughout India, payment has remained the biggest challenge to date. “Infrastructure needs to improve,” says Deshpande.

This makes India sound a bit like the Middle East, where MartJack hopes to expand, and where it will come into competition with integrated Magento-based platform (and Wamda Capital portfolio company) ShopGo (whose founder has written about e-commerce SEO, gaining referrals, and customer segmentation on Wamda). Thus far, Martjack has brought over a dozen customers on board in Dubai, and is looking to leverage its emerging market experience. “The Middle East market now is similar to where the Indian market was in 2007. People are talking about e-commerce, but many are still on the fence.”

In another one or two years, he says, “we should see a tipping point in the Middle East.”

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Martjack looking to foray into emerging markets: Interview with Jeetendra Joshi, Martjack

August 09, 2013

MartJack-NewsOnline retail in India is set to grow from current market size of $1.6 billion to $8.8 billion by 2016, and so the services enabling it. Over the past one year, we have seen the launch of a few SAAS based ecommerce platforms. To understand how the market has been evolving for one of the early evangelizer of ecommerce enabling space, Yourstory spoke to Jeetendra Joshi, Director, Martjack. Below are the edited excerpts of the interaction.

How has been the growth in terms of ecommerce stores leveraging your platform?

We are getting very good response from the retailers as well as from brands. Indian retailers have understood the importance of having online channel; and, there is a vast retailer community in India that wants to have online channel for business. For them, SaaS-based platform like Martjack is an easy vehicle to start the journey in the online space.

There has been a talk that Martjack has raised series A. Can you give some details on this?

We do not comment on speculative rumors.

Can you give some sense about number of stores deactivated from the platform this year (owing to reasons such as lack of funds, traction etc)?

Fortunately, for us, the majority of merchants are offline retailers or brands, where the plan they have is for 3 years and above. This profile of merchants are in the online space to increase their penetration and engagement with buyers and generate sales. They are not online for any other reason. Merchants like these face challenge in generating traction initially but we also help them through our Business Insight program where they can use their offline strength to generate traction. We have very minimal churn rate compared to industry churn rates.

Take us through the firm’s future and expansion plan.

Our aim is to be the most Merchant Centric company and for that we continue to listen to merchants and keep on improving our product. Currently we have healthy marketshare in India and we will like to increase our marketshare by adding features which Retailers and brands require.

Currently we have a 100+ team in Martjack. We have started our operations in the Middle East, and we are getting very good response from the market. We are also looking at other emerging markets such as South East Asia, North Africa where there is a good demand for ecommerce platform and we are sure that we be able to establish our successfully in those markets.

Recently couple of platforms (such as Zepo and Dhamaal) launched in your space. Don’t you think ecommerce enabling market is getting crowded?

Indian ecommerce market is still at a nascent stage. In my opinion, it is a big market, where multiple player can coexist. But, finally, it will depend on how much the merchant is getting benefited because of your solution.

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Nitin Padmawar, CTO, MartJack on Challenges and Trends in Indian E-commerce Space

December 09, 2011

MartJack-News

We at YourStory.in recently caught up with Nitin Padmawar, CTO, MartJack – one of the speakers at E-Sparks 2011 – India’s Premium E-commerce Showcase, to be held in Bangalore on 17th of December. Nitin spoke to us about the major challenges in Indian E-commerce space today, trends that are here to stay, and his expectations from E-Sparks.

Edited Excerpts:

Nitin, what according to you are the major challenges pertaining to technology that e-commerce sites in India face today? How does MartJack help in solving some of these problems?

Planning for seamless customer experience is the single biggest challenge that e-commerce businesses in India face today. This aligns with other challenges such as technology scale & reliability, logistics, payment processing and operational planning. Most e-commerce businesses end up spending a large chunk of their time, effort & capital on establishing the basic technology & operational workflow. With MartJack, we work with a number of such businesses to remove most of the technology & operational back-end complexities to allow them to spend most of their time and money on end-customer experience.

Any interesting trends that you see in this space?

E-commerce in India today is a fast growing segment. People are trying out different models, ranging from deals to niche experiences. Customers today are getting a wide variety of choices, whether it is for selection or service. So, obviously a lot of interesting trends are forming out, but we will have to wait and watch out for the long term play versus the short term play. Overall, the value of selection, pricing and customer satisfaction will remain important factors and the businesses that focus on these fundamentals will be part of the long term play. Also, I think mobile access to e-commerce is another interesting phenomenon to watch out for and that has a potential for very aggressive growth rate. Social interaction during and post e-commerce transactions is also a very interesting space that can have dominant growth scope as we will notice in the next 2 to 3 years.

We are very glad to have you as a speaker at E-Sparks 2011. What do you expect from E-Sparks 2011?

I hope that it would be an interesting platform where we can share our learnings with entrepreneurs and more importantly a platform where we can learn a lot from some of the brightest entrepreneurs around. Forums like E-Sparks offer a humbling and a great learning experience for us.

What can the audience expect from you at E-Sparks 2011?

We hope to share our mistakes and our successes with the audience. We hope to share our learnings and our overall experience over the last 4-5 years in the Indian e-commerce space. I think we should have a lot of bits and pieces that would be useful for most entrepreneurs. Specifically when it comes to e-commerce, we have been central to some of the most exciting innovations, growth and business experiences which we can definitely share with the audience to help them improve their odds in the e-commerce business.

One compelling reason as to why entrepreneurs and startups should attend E-Sparks according to you?

It is a great forum where a lot of people with a broad set of backgrounds and experiences are coming together. So obviously it’s a great place to learn, share and build networks that matter in this business. It is also a great opportunity to get access to technology, platforms and people that can simplify many of the startup complexities for entrepreneurs.

Do not miss Nitin’s talk on “Ensuring technology success for your e-commerce startup”. Register now to attend E-Sparks 2011, 17th December, Bangalore

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Learnings from MartJack Journey for E-commerce Entrepreneurs by Nitin Padmawar, CTO, MartJack.[YS TV]

February 03, 2012
MartJack-News

Nitin Padmawar, CTO, MartJack at E-Sparks 211 introducing Reasoning, the digital commerce platform that has launched MartJack and MartJack Exchange, which are E-Tail solutions that entrepreneurs can use when starting off their own e-commerce ventures.

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MartJack offers integrated solutions for sellers to list on Junglee.com

Bangalore, India May xx, 2012:-

MartJack, a complete solution for merchants to build & manage their online stores, is a proven solution with integrated payment, logistics & customer acquisition solutions, which is being used by almost thousands of retailers, brands & manufacturers including Videocon, Gitanjali Group, Aditya Birla Retail Ltd., HCL Info Systems and more. Martjack collaborates with Junglee.com to help consumers choose branded and unique products at competent prices from listed sellers.

“We’re excited to work with MartJack to make it even easier for businesses to list their products on Junglee.com and take advantage of the Junglee.com shopping experience to drive high quality traffic to their websites or offline stores,” said Amit Deshpande, General Manager, Amazon Seller Services in India.

Junglee.com is an online shopping service by Amazon which enables customers to find and discover products in India. Customers can discover over 1.2 crore products and 14,000 brands, and purchase items directly from hundreds of retailers listed on Junglee.com. The collaboration with Junglee.com will help consumers choose branded and unique products at great prices from listed sellers including Martjack sellers/merchants registered on Junglee.com.

“We are delighted to forge a close alliance with Junglee.com to help sellers showcase their products across 25 categories. Sellers can leverage the potential of this reputed channel to formulate the more competitive merchandising and pricing strategy to have better conversions,” said Ram.Nutakki, Vice President, Reasoning Global eApplications Pvt Ltd.

A consumer selecting to buy a product will be redirected to the seller’s website and will finally place the order on the seller’s website. Sellers will deliver orders and provide customer service support. MartJack provides access to the top e-commerce markets in India. With a single inventory feed, you can access hundreds of channels, including Junglee.com

About Reasoning:- Reasoning Global is a retail centric, software product development, company that is focused on enabling retailers to leverage digital channels like the Internet, mobile & social media as powerful customer acquisition, customer connection and marketing channels. Reasoning was started in May 2007 focusing on the retailing industry and is currently head-quartered in Hyderabad. Reasoning’s products, especially MartJack, enables retailers to establish an online store front quickly and at a low cost. To meet the unique demands of Indian retailers, the multiple barriers of technology, logistics, online payment processing, customer acquisition & effective online sales need to be addressed in a single solution. Reasoning has developed a comprehensive multi-channel retailing solution – Martjack which enables retailers to easily establish & manage their online stores. In close partnership with Google, HDFC Bank & Aramex, Reasoning has built an eco-system around Martjack to offer a complete solution to retailers – The Martjack eco-system. To know more log on: www.ereasoning.com

About Junglee.com:- Junglee is an online product comparison and advertising site offered by Amazon which enables customers to find and discover products from online and offline retailers in India and from Amazon.com. Junglee organizes massive selection and multiple buying options from hundreds of sellers, and leverages Amazon’s proven technologies and millions of customer reviews to help customers make smart purchase decisions. Junglee.com is an online shopping service by Amazon which enables customers to find and discover products in India. Customers can discover over 1.2 crore products and 14,000 brands, and purchase items directly from hundreds of retailers listed on Junglee.com. To know more log on to www.junglee.com

MartJack News

Now, shop on the move with the help of apps

December 29, 2011

Shopping will become a lot easier when Reasoning Global eApplications, a Hyderabad-based multi-channel solutions provider for the retailing industry, rolls out its native applications (or apps) for BlackBerry, iPhone and Android-based platforms by the end of the current financial year.

For one, the yet-to-be launched applications will offer smartphone users easy search and navigation capabilities, just to know what exactly they are willing to buy. And, two, the apps allow the customers to purchase on the go, too!

"Mobile shopping is something we are working on our MartJack Exchange. While we are developing native apps for smartphones, we are taking a mobile-based web approach (HTML 5) for other devices. The applications will be available for both MartJack merchants and exchange publishers. While the retailer will be using the same MartJack system, the end consumer will be accessing the online store from his mobile phone by downloading the app from the retailers' app stores," says Jeetendra Joshi, vice-president (marketing), Reasoning Global eApplications.

Reasoning's MartJack Exchange is an e-commerce platform that enables a single-click creation of a digital commerce channel with automatic communication between consumers, publishers, retailers, logistic partners and customer service teams.

Built on the .NET technology, and offered completely as a cloud-hosted service, MartJack Exchange is utilised by 700 retailers like Next, Videocon, Gitanjali and Olive Telecom across different retail categories, including fashion, electronics, mobile phones, jewellry. "A lot of them (existing customers) should definitely adopt our mobile apps," he says.

According to Joshi, the company is not just looking at mobile apps, but also contemplating bringing digital commerce features like social networking to the MartJack Exchange in the next couple of quarters.

"Our idea is to take online purchasing to the next level, offering a 'search-plus-purchase' kind of experience to the end-customer, using the huge foundation we have in place in the form of our Exchange technology. Right now, with an indirect reach to 50 million customers, we are hopeful of easily touching our reachable customer base to 100 million with the roll out of our mobile applications," Joshi adds.

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Learnings from MartJack Journey for E-commerce Entrepreneurs

19 December 2011, Tech News

Nitin, CTO, Martjack, started his E-Sparks session by introducing Reasoning, the digital commerce platform that has launched Martjack and Martjack Exchange, which are E-Tail solutions that entrepreneurs can use when starting off their own e-commerce ventures. This would put them in the enabler business category as they enable fulfillment of services on the web. His presentation focused on ‘sharing problems that can be solved by the zeal of entrepreneurship.’

He started off by mentioning that most predictions regarding the Indian E-commerce revolve around the expectation that India is going to follow China and is lagging behind by roughly around five years which gives us the premise that there is potential for offline retailers as well as startups in this space. The number of consumers and businesses online is increasing and there is a gap between media reach and market reach which Nitin called the ‘unfulfilled consumption need of India.’ He mentioned that there is a gap in consumption that can be met digitally and that there is a need for alternative market infrastructure to support this gap. He presented digital commerce as the alternative but highlighted some pain points that are faced in the current market scenario such as lack of uniform taxation, payment failure, inefficient logistics, lack of product content, inability to market effectively online, low consumer web penetration as well as low technical skills of merchant and overall low talent availability.

Any platform that attempts to provide a solution must have the requisite capabilities as a platform of scale, being Indianised, easy to use, as well as being a one-stop-shop solution. With Indian clients and partners, Nitin felt that there was limited investment in technology to scale their business online and that generating return on investment (ROI) using technology was not factored in. Also, limited domain experience to build operations for an online channel could be limiting some budding E-commerce entrepreneurs or offline retailers from coming online.

Regarding Indian consumers and infrastructure, Nitin said that reaching Tier 2-3 cities is still difficult and that online and mobile payments infrastructure is still evolving. Startups are seeing issues in terms of scaling since they are attempting to ‘become the next big thing’ or are going in for a ‘me too’ approach. There is a ‘need for operational innovation’ as in various cities it might be necessary to take a ‘feet on ground’ approach for operations. Building consumer traffic can also be an expensive task making scaling difficult for startups.

Given these challenges, what is currently driving e-tailing in India? Nitin noted that it is consumer confidence towards a brand, ability for a consumer to see value in discounts or proper delivery of a product, and being able to make use of the value proposition of shopping online. There are also some favourable macro drivers in India such as venture capitalist (VC) funding, the possibility of foreign direct investment (FDI) in the retail space, large consumer base that can be reached in tier 2-3 cities, 80+ crore mobile users along with the advent of 3G and smartphone growth providing a huge consumer base, the educated and middle class extensively searching for categories and specific products as well as affluent consumers that are ready to pay for experience and not just deals. Nitin mentioned that there is ‘huge scope for fulfilling latent demand. There is opportunity to create niches for B2B and B2C businesses and opportunities to overcome the various barriers that exist by innovation.’

Some market barriers that Reasoning has attempted to resolve include educating offline retailers regarding e-commerce and playing a consulting role in terms of sharing the broad vision of e-commerce and helping put together a business plan to help them get online. For business that do not have digital product data, making available the creation of digital product repository with ready-made data and the data bank on subscription giving the ability to create data on the fly especially when attempting to scale. Another valuable service is the setting up payment gateways for businesses. Unlike some of the others in the room, Nitin said ‘it is not broken. it is painful.” There are 20+ payment gateways thanks to partnerships with banks like HDFC. It is not possible for an e-business to have their payment gateway set up in 15 days with the help of Martjack. Reasoning is also a platform partner with logistics providers and provide affordable technology solutions such as their cloud based platform as a service on a monthly payment model.

Nitin highlights, “You need to spend money to build your brand online”. In order to build traffic to do online business Martjack allows you to share catalogues with existing customers of their partners such as HDFC. There is no need to build a customer base from scratch but to tap into users that are online that could potentially become customers once they are aware of your product or service.

Nitin then went on to share the journey of Reasoning for the benefit of aspiring entrepreneurs in the room. Reasoning was founded in 2007 and in 2008 they developed the online commerce platform by creating the first version of Martjack. In 2009, the recession hit the world as well as their business but they managed to stay afloat as they got a hold of few big clients from the UK. During this time they also started converting some of their solutions to the cloud. In 2010, they moved to their new office space and also came up with their innovative low-touch sales model. In 2011, their sales have increased 5x times. His advise to startups was make use of scalable and affordable technology, build a business for consumers and not for a VC panel, hire talented people for key positions, create a workable revenue model and arrive at a good price point, identify your target consumer clearly and spend on marketing in spite of budget constraints.

We at YourStory.in thank MartJack for all the support during E-Sparks 2011. Also, please check out India’s Hottest E-commerce Startups.

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Nitin Padmawar, CTO, MartJack on Challenges and Trends in Indian E-commerce Space

December 9, 2011 in Event News, Non-tech News, Tech News

We at YourStory.in recently caught up with Nitin Padmawar, CTO, MartJack – one of the speakers at E-Sparks 2011 – India’s Premium E-commerce Showcase, to be held in Bangalore on 17th of December. Nitin spoke to us about the major challenges in Indian E-commerce space today, trends that are here to stay, and his expectations from E-Sparks.

Edited Excerpts:
Nitin, what according to you are the major challenges pertaining to technology that e-commerce sites in India face today? How does MartJack help in solving some of these problems?

Planning for seamless customer experience is the single biggest challenge that e-commerce businesses in India face today. This aligns with other challenges such as technology scale & reliability, logistics, payment processing and operational planning. Most e-commerce businesses end up spending a large chunk of their time, effort & capital on establishing the basic technology & operational workflow. With MartJack, we work with a number of such businesses to remove most of the technology & operational back-end complexities to allow them to spend most of their time and money on end-customer experience.

Any interesting trends that you see in this space?

E-commerce in India today is a fast growing segment. People are trying out different models, ranging from deals to niche experiences. Customers today are getting a wide variety of choices, whether it is for selection or service. So, obviously a lot of interesting trends are forming out, but we will have to wait and watch out for the long term play versus the short term play. Overall, the value of selection, pricing and customer satisfaction will remain important factors and the businesses that focus on these fundamentals will be part of the long term play. Also, I think mobile access to e-commerce is another interesting phenomenon to watch out for and that has a potential for very aggressive growth rate. Social interaction during and post e-commerce transactions is also a very interesting space that can have dominant growth scope as we will notice in the next 2 to 3 years.

We are very glad to have you as a speaker at E-Sparks 2011. What do you expect from E-Sparks 2011?

I hope that it would be an interesting platform where we can share our learnings with entrepreneurs and more importantly a platform where we can learn a lot from some of the brightest entrepreneurs around. Forums like E-Sparks offer a humbling and a great learning experience for us.

What can the audience expect from you at E-Sparks 2011?

We hope to share our mistakes and our successes with the audience. We hope to share our learnings and our overall experience over the last 4-5 years in the Indian e-commerce space. I think we should have a lot of bits and pieces that would be useful for most entrepreneurs. Specifically when it comes to e-commerce, we have been central to some of the most exciting innovations, growth and business experiences which we can definitely share with the audience to help them improve their odds in the e-commerce business.

One compelling reason as to why entrepreneurs and startups should attend E-Sparks according to you?

It is a great forum where a lot of people with a broad set of backgrounds and experiences are coming together. So obviously it’s a great place to learn, share and build networks that matter in this business. It is also a great opportunity to get access to technology, platforms and people that can simplify many of the startup complexities for entrepreneurs.

Do not miss Nitin’s talk on “Ensuring technology success for your e-commerce startup”. Register now to attend E-Sparks 2011, 17th December, Bangalore

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E-retail will explode only when big cos start selling online: Experts

23 Sep 2011

Mumbai: While e-commerce and online retail is witnessing a boom in various western markets, with the likes of Amazon and eBay expanding their global footprint, the Indian market is still warming up to virtual retail, said industry insiders, on the second day of the India Retail Forum (IRF) 2011 in Mumbai. Despite the enormous success of Flipkart, which is tipped to become India’s first billion-dollar internet company, e-retail is yet to explode in the country.

“This industry has not yet reached a tipping point and it could take another 5-6 years,” said K Vaitheeswaran, founder & CEO, Indiaplaza. “It is dominated by pure play e-commerce companies but the real explosion will happen once top retailers start selling online as much as they sell through their physical stores.”

According to industryestimates, e-retail in India is pegged at R4,000 crore and occupies less than 4% of the organised retail trade. “However its penetration could increase to 8-9% in the next two years,” said Anubhav Kushwaha, director — business strategy & alliances, eReasoning, Global Appliances.

“Increasing internet penetration and rising consumer confidence in online payment and delivery mechanisms are fuelling this growth.”

However, e-retailers pointed out that secure payment gateways are a major concern with e-commerce sites that often deter consumers from shopping online. “The success rate of payment gateways is at 30%, which is appalling,” said Kashyap Deorah, president, FutureBazaar.com which is the online retail arm of Future Group. “Unless success rates go up to 60-70%, the rate of conversion from browsing to purchase will not increase.”

At present, only 10% of India’s 75 million Internet users log on to e-commerce sites, of which only 1-1.5% transact. Books, air tickets, mobiles and electronic goods are the most sold items on the web, say retailers.

Pankaj Gupta, practice head — consumer and retail at Tata Strategic Management Group had earlier told FE that “Entertainment, books, consumer electronics and travel services are the sectors where e-retail has exploded. The other categories are yet to catch up.”

Meanwhile, prominent e-retail platforms like FutureBazaar.com and HomeShop18 claim to be growing at more than 100% quarter-on-quarter. “We earn R2.2 crore through 15,000 transactions per day. We’re growing at nearly 200% every three months,” said Sundeep Malhotra, CEO of HomeShop18. “Though the bottom line is still in red, we hope to double our topline of R408 crore in two years.”

Experts also pointed out that online retail is an efficient way of liquidating excess inventory and expanding one’s reach. “E-retail provides an alternative channel to get rid of piled up inventory,” said Rahul Narvekar, co-founder and director of Fashion and You, an e-platform selling premium fashion brands. “It also helps save real estate costs and aids in building up a brand.”

Malhotra agrees with Narvekar and adds: “India has the most expensive real estate in the world, that makes it difficult for brick-and-mortar retailers to have their full merchandise on display. On e-platforms, the full range of products is available, which offers consumers greater variety.”

FutureBazaar’s Deorah also pointed out that the average transaction size for e-retailers is much higher than the average ticket price for brick-and-mortar retailers. “Our average transaction size is R10,000 which is largely a function of high sales of large-ticket items like consumer durables and electronics. It is much higher than the ATP in Future Group’s physical stores,” he said....

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Three out of five retailers looking at e-tailing

22 Sep 2011

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With rising consumer confidence in buying products and services online, e-Commerce has risen rapidly in India - from Rs 8,000 crore in 2007, it is closing in on the Rs 50,000-crore mark. For traditional retailers, creating an online retailing model (e-tailing) is inevitable in the current environment, observed speakers at the India Retail Forum 2011 in Mumbai on Thursday.

“We are seeing multi-channel consumption, driving towards ‘omni-channel commerce'. While the brand experience is not limited to one channel, consumers are also purchasing across channels,” observed Mr Anubhav Kushwaha, Director - Business Strategy and Alliances, Reasoning Global eApplications.

He added, “In our experience, three out of five retailers are looking at online commerce to boost business. We also see a healthy number of consumers looking for offline retail brands online.”

Even as retailers take to e-retailing, they will have to draw from their core strengths as retailers, underlined Mr Daniel Rebhorn, Managing Partner, Embitel Technologies. He said, “Retailers need to think about their advantage of local presence. Connecting the advantages of online to offline and back end will be big opportunities for those in the brick and mortar retail business.”

Mr Kashyap Deorah, President, FutureBazaar.com, pointed out that with increasing population and consumption, e-tailing was inevitable. He said, “In India, we cannot cater to the growing consumer class unless we go digital, given the cost and logistical challenges of physical presence and the size of our country.”

For premium ‘large box' format chain Shoppers Stop, access and convenience could be factors driving consumers to other stores - one of the factors driving its e-tailing.

Mr Vivek Mathur, Customer Care Associate and Vice-President - Corporate Planning and e-Commerce, explained, “Physical footprint in tier-II and tier-III cities could be time consuming and not always feasible. Also, our e-Commerce also caters to the gifting and NRI segments.”

PAYMENT GATEWAYS

Challenges include issues with payment gateways, underlined speakers. For e-Commerce portal Snap Deal - which now has a presence in 25 cities and intends to ramp up to 100 by December - that is the biggest issue, explained Mr Tony Navin, Vice-President - Business Development.

“Ninety per cent of people visiting a site walk away without transacting, and another five per cent are unable to transact because of payment gateway issues. If we were to get into another business, it'd be the payment gateway business,” he added.

FashionandYou, the online ‘shopping club' which boasts of two million members in two years of operations, is witnessing high growth in users beyond the large cities. Mr Rahul Narvekar, Co-founder and Director, said, “We were surprised by the response from smaller cities initially. We had a lady buying two units of a watch priced at Rs 3.8 lakh each from Hubli - and she wanted Cash on Delivery.”

gokul.k@thehindu.co.in

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Being omnipresent is the mantra for success

22 Sep 2011

MartJack NewsE-tailing is nothing but retailing," said Anubhav Kushwaha, Director- Biz Strategy and Alliances. “It’s no more about multi-channel commerce, as omni-channel commerce is the new buzz word. Retailers need to be omnipresent across all channels such as web, mobile and social media to achieve success in business.”

Addressing the delegates in a session titled “All You Must Know about E-commerce before Starting Your Online Store,” on the second day of the India Retail Forum 2011 being held at Hotel Renaissance, Mumbai, Kushwaha said: “The Indian e-commerce industry stood at Rs 7, 800 cr in 2007 and is expected to touch Rs 47,000 cr this fiscal. Consumer confidence, search for value, retailers capability, entry of new brands, convenience and technology are the driving factors for online retail in India. India has 10 cr Internet users and 2 cr social networking users, so the country has a solid base for e-tailing. Three out of five organized retailers in India are giving a serious thought to going online.”

He added: “Planning, focusing on customers, giving them a rich experience, efficient cost management are necessary for the growth of e-commerce in the country.”

Daniel Rebhorn, Managing Partner, Embitel, said that the retailers need to drive the customers from their brick-and-mortar stores to their online stores and vice-versa. E-commerce presents a big opportunity for retail business.

K. Vaitheeswaran, Founder & CEO, IndiaPlaza was of the opinion that the real e-commerce in India will begin when the offline retailers get on to the web and establish their online presence.

Kashyap Deorah, President, Futurebazaar.com said that the consumption rate is growing in India at a rapid pace. “While most of the retailers across the world look at e-commerce as a threat, we in India look at it differently because without it we cannot cater to the growing demands of the huge Indian population. Unfortunately, in India it’s not yet become a habit to purchase online; retailers still need to compel the consumers to shop online.”

Manmohan Agarwal, Founder, Yebhi.com said: “E-commerce is fundamentally about building a back-end first. Just as supply chain and backend are vital for offline retail; they are equally important for e-commerce. Online retail is all about variety, convenience and value. In India, we are yet to see a tipping point in e-commerce. In the next five or six years, there may emerge large online retailers as big as the offline retailers in India.”

Participating in the discussion, Rahul Narvekar, Co-founder, Fashion & You said that logistics and payment gateways are the two major challenges faced in e-retailing in India.

Sundeep Malhotra, CEO, Homeshop18 said: “While digital is a better medium it is certainly not a magic wand. Things take time to develop and grow. Getting into e-commerce only for the sake of money is not a brilliant idea, though money is generated but it does not happen in a jiffy.” He added that online business has changed. Earlier it was all about eyeballs and beautiful homepage but today it is about logistics and transactions. The lack of distribution channels for products is the biggest opportunity for virtual retailers.

Vivek Mathur, Customer Care Associate & VP, Shoppers Stop expressed and said: “Our reason for entering online retailing was to target consumers shopping in our stores who were spending some part of their money shopping somewhere else. Also, we wanted to have a physical footprint in Tier II and Tier III cities across India and reach out to consumers there. Our online entry was also to target NRI segments.”

-Tripti Bisht

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India Retail Forum Day II focuses on ways to increase shopper conversion

22 Sep 2011

After a hectic day of power packed presentations, discussions and entertainment, day two of India Retail Forum 2011 (IRF) being held at Renaissance Hotel, Mumbai, began with a much needed session on how to build a corporate society full of service, wisdom and celebration. One of the senior most Art Of Living practitioners and teacher Sri Prasanna Prabhu guided the audience on rediscovering the soul of Indian retail.

The debate then moved on to ways to increase shopper conversion through store intelligence, back end planning and store solutions. According to one of the panelists Ramesh Jairaman, MD, Tyco India, “Internal shrink, vendor fraud and security checks are major challenges for retailers. Additionally, the Indian retail footprint is rapidly expanding and adding technology in the tier 2 & 3 cities.” Nick Kyriacos, MD, Bentel, Naveen Luthra, VP, Strategic Alliance, Getit, Rakhi Nagpal, CMD, Dynamic Vertical Solutions, DVS and Rajkiran Kanagala, National Head, Business Development, TCI also shared their views on the subject.

Eminent entrepreneurs came together at IRF to throw light on the reasons behind hiring professionals in family owned businesses. M. Krishna Reddy, who has been running Apna Bazaar since 1980 said, “Today we have 9842 branches with 92,000 employees in India. By the year 2005, we had already clocked a turnover of Rs. 32,000 crores. The reason behind the success is the fact that we have brought in professionals with a human touch into our business. This human element not only helps business run better but also become a bigger success.”

Taking a slightly different view was Bhagirath Jalan, KSL India who believes that family-managed business are far more comfortable and liberal as there are no hassles from share holders or no strict targets to meet. “The only problem in family run business is that there is no scope of rewarding or penalizing a family member. After all, every family member wants to exercise his/her power,” he added. Abhishek Malhotra, VP & Partner, Booz & Co. observed that only one third of the family businesses sustain till the third generation. The panelists agreed on the fact that though the disadvantage of a family business is the lack of absolute knowledge, the advantage is the experience."

The power packed session on E-commerce brought together industry players from varied fields who discussed and educated the audience about e-commerce and how to go about starting an online store. Anubhav Kushwaha, Director - Biz Strategy & Alliances, eReasoning, Global Applications, was very optimistic when he said, “There is a trend of peer endorsements to facilitate e-tailing. The three things needed for online success are consumer confidence, consumer values and capabilities of retailers.

Consumers are switching channels and the entire experience is becoming channel agnostic”. Putting a perspective to the industry was Sundeep Malhotra, CEO, Homeshop18, who said, “E-commerce constitutes 4 per cent of the total retail industry in India, and we see a growth of 8 to 9 per cent in the coming years. Homeshop18 is an alternative distribution plus retail platform. It's about building an organization that has BPO service, marketing, vendors, etc to service the needs of customers,” he added.

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“Adapting to various platforms is a challenge for online retailers” - Nitin Padmawar, Reasoning Global eApplications

Sunday, 17 July 2011 18:02 YourStory Team

Representing Reasoning Global eApplications at TechSparks 2011 Hyderabad Regional RoundTable, was the company’s CTO Nitin Padmawar, who talked about MartJack and the MartJack eXchange, a digital commerce platform that works with top retail companies in India to help them deploy their products online. “Adapting to various platforms is a technological journey for (Indian)retailers,” mentioned Nitin and went on to talk about how MartJack uses this as an opportunity to create an ecosystem of partners to help and increase support for such retailers.

Nitin openly and honestly shared his entrepreneurial past and brought the audience up to speed on how launching MartJack was a blend of the founders’ backgrounds in web business as well as retail. MartJack helps retailers get leads and gets them started on their e-commerce initiatives. With it, they have built an ecosystem of partners and then started multi-channel initiatives(involving payment gateways/logistical transport services/online marketing), focused on growth through exchange, and removed the common barriers that keep Indian retailers from setting up shops online.

“Retailers stick to ROI tools,” he said and went on to explain how MartJack offered retailers exactly that. He spoke about the two distinct buying patterns of Indians. Indians either shop for products sold by big brands or purchase local products and typically visit a fixed set of online properties. There is a clear gap between retail inventory and end users. Creating this multi-channel digital commerce platform has been a positive step in the direction of addressing this gap profitably.

Later, he talked about the benefits of hosting their platform on AWS cloud.

Please know more about this technology venture and their products by visiting their website

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Virtual Store Creator

Reasoning’s products, especially Martjack, enable retailers to establish an online store front quickly and at a low cost to update it simply and continuously without having to maintain an expensive IT infrastructure. To meet the unique demands of Indian retailers, there is a need for a single solution that addresses the multiple barriers of technology, logistics, online payment processing, customer acquisition and effective online sales. To provide such a solution, in close partnership with Google, HDFC Bank & Aramex, Reasoning has built an eco-system around Martjack to offer a complete solution to retailers including payment, online marketing and logistics besides the complete technology solution to build & manage the online store for retailers. This platform has been adopted and being used by over 2000 stores in the last two years. The platform is a “Do it yourself” solution offered on a SaaS model. The company is experiencing a growth rate of more than 150 per cent YoY.

CASE STUDY

Access2Future is an electronics retail chain in Hyderabad, Bangalore and Vizag. With the growing number of electronics chains and the increasing number of customers that use the Internet as a shopping research channel, Access2Future wanted to build an online channel for customer acquisition to stay competitive as well as to increase its sales.

REQUIREMENTS

The requirements include:

Creating an effective online presence for increasing footfalls at stores and eventually sales

Tapping the large number of consumers searching for mobile phones and electronics products online

Providing the real time information about discount offers and promotions to influence consumers

THE SOLUTION

MartJack has the solution that creates a central product web store as well as local stores for all geographic regions with store locator, product locator, etc with rich experience, which perfectly integrate with POS for real-time inventory information.

BENEFITS

With the implementation of Martjack, Access2Future made effective online presence by increasing significant number of leads and orders, besides generating leads to local stores, influencing consumers to buy from stores. Elaborating on the benefits, Prashant Lahoti, owner of Access2Future comments, “Our Martjack powered online store enables us to tap more customers and more business using the Internet. We are able to manage orders and promotions ourselves and do not require an IT team. Moreover, the retail and technology expertise of the Martjack team has helped us to continuously improve our online presence.

The biggest advantage is that all the latest features are available and more features keep getting added even before we notice the need for such features. We were sceptical about the SaaS approach earlier but with this kind of an offering we are more than satisfied.

Overall we are very happy as now we are able to focus on our core strengths of customer acquisition and marketing, the rest is taken care by Martjack.”

We have seen more than 30 per cent YoY growth in e-tailing, which, as per our understanding, will continue. Brands and retailers offering their products and services through online channel is going to fuel this e-tail growth.

Jeetendra Joshi, VP-Marketing, Reasoning Global eApplications Pvt. Ltd.

Our Martjack powered online store enables us to tap more customers and more business using the Internet. We are able to manage orders and promotions ourselves and do not require an IT team.

Prashant Lahoti, Owner, Access2Future

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Online shopping gains consumer comfort

Rachit Vats, Hindustan Times - Mumbai, February 20, 2011

In 2011, consumers are going to live for new experiences. These new directions could be in how they shop, travel, communicate or conduct transactions. In what is already being seen as a trend and called as the second coming of e-commerce, many Indian firms are rushing to set up or rejuvenate their e-stores. Most retailers who already had e-stores, are re-launching them.

While Future Group's Future Bazaar.com was launched in October 2010, other retailers too are looking at re-energising their online ventures. Market sources say that other than retailers, FMCG companies, jewellers, and consumer electronics companies are already looking at setting up e-stores.

What has so far been restricted to online rail, air and movie bookings, is expected to expand in reach and impact now. "With the current e-commerce market estimated at Rs 27,000 crore, retail chains and lifestyle brands are exploring e-commerce to maximise profits and attract more footfalls, both offline and online. There has been a 30% year-on-year growth over the past three years in e-commerce. Brands are extensively chalking their strategic plans to venture in the digital commerce segment," said Jeetendra Joshi, VP - marketing, Reasoning Global eApplications.

In its earlier run, low internet penetration and lack of trust were the core reasons cited for the weak response towards online shopping. Now, with the internet penetration of 7%, which can reach 20% in the next five years, increasing time spent on the internet, adoption of connecting devices (smartphones, tablets), people are more ready to engage in transactions online. With online experiences developing rapidly, a lot of consumers in India have already started shopping online.

"The consumer traffic has jumped and every 'Battle Ground' day we see a further 4-5% rise. On an average, we see at least 50,000 visits per day. The growth is good and we expect Future Bazaar to contribute 10% to overall sales of the Future Group," said Rajiv Prakash, CEO, FutureBazaar.com. While it already retails consumer electronics, FutureBazaar.com plans to add other categories soon. The company claims the deals it offers are cheaper than those offered in the market.

Reliance and Shoppers Stop too have online presence and other retailers are looking at it. "Online retail is a good opportunity. We have not got into it yet but it is an emerging opportunity and we might look into it," said Thomas Varghese, CEO, Aditya Birla Retail.

Sources claim LG Consumer Electronics, which shut its e-commerce venture earlier, is in the process of rejuvenating it. Godrej Group too is looking at setting up an online shopping destination for all is products. FMCG major Dabur India, which also runs its New U retail chain, recently launched a dedicated online shopping portal for its beauty range - Dabur Uveda. D' Damas, Nakshatra Diamonds, Videocon, The Bombay Store, Base Camp Traveler (Victorinox), Neeru's Saris and others recently set up their e-stores.

"The original idea was that online business can be huge internationally, but now we are seeing good domestic traction as well," said Asim Dalal, MD, The Bombay Store.

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MartJack enbaled online stores crosses Rs.100Cr milestone

By CXOtoday Staff, Apr 07, 2011 02:58 PM

MartJack, a digital commerce platform developed by Reasoning Global eApplications, has announced that it has crossed Rs.100Cr milestone. The platform enables retailers to build their own digital stores across multiple channels including Internet, mobile and social media.

“We all are very excited to achieve this significant milestone within 3 years of operations, adoption of Internet & other digital media, as sales and product discovery channels is going to play a decisive role for retailers’ success in the next few years,” commented Anubhav Kushwaha, VP, business strategy & alliances, Reasoning Global.

The company believes that, leveraging the eco-system built around eApplications that includes payment solutions, logistics solutions etc. can reach consumers across digital media and influence them to make purchases both online and from their physical stores.

“Categories which has seen significant growth are consumer electronics, laptops, MP3/MP4, digital cameras, mobile phones, books, jewellery & apparel; showcasing the broad acceptance of Internet as a shopping channel among Indian consumers,” informed Jeetendra Joshi, VP, marketing, Reasoning Global.

Speaking about company’s future plans, Joshi said,that the comapny aims to directly or indirectly influence a substantial percentage of transactions in Indian digital commerce industry by FY 2013.

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These watches will reflect the taste of internationally recognized style icon Salman Khan that can be conveniently purchased online by using various payment options for online shoppers

India Infoline News Service / 19:46 , Dec 27, 2010

Superstar and philanthropist Salman Khan inaugurates his exclusive online store www.beinghumanwatches.com and introduces an exquisite range of limited edition ‘Being Human Watches’ internationally. Conceived and designed by Salman Khan, ‘Being Human Watches’ support the twin causes of education and healthcare. This move by the Being Human.

The Salman Khan Foundation enables Salman Khan's fans to buy the watches even if they cannot access the 50 stores the watches currentky retail in. Royalties from Being Human Watches will be utilized for education and healthcare of the underprivileged. The chic range flaunts watches for both men and women.

The exquisite range of Being Human Watches conceptualized by Salman Khan was developed with a vision to combine three excellent components – great watch making, signature style and affordability. Reasoning Global eApplications Pvt. Ltd. with their unique multi channel retail solution “Martjack” as Being Human Watches online strategic marketing associate, this luxury product portal is launched for people who love stylish watches.

These watches will reflect the taste of internationally recognized style icon Salman Khan that can be conveniently purchased online by using various payment options for online shoppers.

On this occasion Salman Khan commented saying, "Being Human Watches are about looking good and doing good. If you are buying a Being Human watch, you should be able to buy it in your time and space. As the watches are now available online, buy them 24/7 and wear them 24/7."

With the promotion of Being Human watches on social networking sites like Facebook and Twitter, Salman Khan was observed posting comments for this social cause such as, “Look Good and Do Good. Express your support in ‘Being Human’ style now”.

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MartJack News

Reasoning Global bullish on e-retailing

The company is eyeing 40 per cent of India's online retail transactions in next two years through its flagship e-commerce platform MartJack

MUMBAI, INDIA: In recent years, the significance of Internet-based business or e-commerce as a medium of marketing and sales has gained wider acceptance not just by large enterprises but even by small and mid-size retail shops and stores.
For Hyderabad-based Reasoning Global eApplications Pvt. Limited, a retail-centric software development firm, the emergence of online retailing trend across the Indian retail industry means more business opportunities.

“Any retail business faces with four key challenges – technology, integration of payment gateways, web traffic and logistics. So with the help of our alliance partners Google, HDFC Bank, Aramex, along with our multichannel retailing solution MartJack, we have created a concurrent ecosystem for retailers that overcomes those challenges,” says Jeetendra Joshi, Reasoning Global eApplications' vice president – marketing.

According to Joshi, the MartJack platform comes in three versions - basic, standard and enterprise - depending on the customer's requirements. However, Joshi points out that many customers tend to move from the basic to enterprise version within 3-4 months' time because of the benefits they gain.

Currently, MartJack platform is deployed by more than 2000 customers including top brands such as Videocon, Geetanjali Jewelers, Ruby London, Mitashi, Next Retail, Base Camp and others. Among them about 10 per cent are using the enterprise version, 50 per cent are on standard, while the rest  are on the basic version.

At present, Reasoning Global has 10 per cent share of the total e-retailing transactions done in India, excluding the online bill payments and services.

“We are targeting about 40 per cent of e-retail transactions done direct or indirectly in the next two years,” says Joshi. According to market estimates the online retail market in India is worth around Rs.25,000 crore and last year about Rs.20,000 crore worth online retail sales were done. 

MartJack is Microsoft's .Net-based platform developed by Reasoning Global's 140-member software team. The solution is offered on SaaS (software as a service) model with one-time initial setup cost for  retail start-ups and web-stores along with business strategic support such as Google AdWords, SEO (search engine optimization), website designing, lead and traffic generation. Also, it can easily be integrated with SAP ERP or any in-house grown ERP and inventory applications.

Reasoning Global allows any retail start-up to setup web-store with a nominal investment of around Rs. 30,000 which include web designing fees of Rs.14,000, Google Adwords setup, basic SEO and traffic generation support along the SaaS fee of Rs.2,650 per month. 

With such integrated and flexible approach, the company expects higher customer reach compared to its competitors.
“For any retail business, setting up of e-commerce portal would require huge funds in form of capital expenditure, but with our SaaS-based model, customer can save huge capitals required initially,” explains Joshi.

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MartJack News

Going Digital: Beyond the buzzwords

February 05, 11, Gopal Sathe

February 05, 11 Gopal Sathe

For brands and marketers, is online separate from offline? Yes, but smart brands are realising that it is just another channel for brand engagement and generating sales. In many ways, the online side of a business can add a lot of efficiencies and reduce operating costs, improving the overall performance of a company. The key is to go beyond the buzzwords and to look at e-commerce as just another part of commerce.

For example, for an entirely offline business such as the wholesale sugar business, what role does Internet and mobile have to play? A lot actually. Accordin to Siddharth Agarwal, Founder and CEO, Mobicule, a mobile enterprise solutions company, even for pure offline companies, bringing in mobile and Internet technology based around the existing networks is enough to lead to a two-fold boost in efficiencies, which will in turn lead to similar improvements in a company’s bottom line.

He said, “Using software like ours can help any large network work more effectively. For example, one of our clients is Mawana sugar. In their business, farmers collect sugarcane and deposit it at a collection center. These are mostly open tents in fields, where you can’t place a computer. The collection center can be equipped with a cheap phone with GPRS to send information on the amount of cane deposited, where the cane should be moved, send any data that the company finds useful. Earlier, this would have required a man to call the office and then someone writes it down and then passes it on, but with the use of new technology, the entire process is automated, needs less people, and moves faster, all of which help the company to perform better.”

Agarwal further said that there was a lot of scope for efficiency in the Indian industry. He noted, “Most businesses still operate in a very old fashioned way when it comes to their distribution networks. Using mobile technology, a sales person can become much more effective when working with distributors. They can take orders, do price check, stock check and advise on payment schedules, and we have seen this lead to a 20 per cent boost in sales through greater efficiency.”

At the same time, moving from offline to a mix of offline and online services also has its own challenges. Reasoning Global eApplications Pvt. Ltd. is an online competency provider, which enables small companies to enter the online space. It’s VP, Marketing, Jeetendra Joshi, said, “We offer a customer facing technology, which has been deployed at all levels of e-commerce, from small mom and pop operations to companies like Videocon, Godrej, D’damas, Nakshatra and Victorinox. What we are seeing is a significant movement online and now everyone is interested and wants to be a part of this new wave of growth.”

The key is to take a holistic approach and develop an entire ecosystem, which handles discovery, payments, logistics and technology. Joshi said, “We have a product which partners with Google, HDFC, and Aramex to bring an entire supply chain online. Introducing people to this ecosystem has brought a lot of improvement, beyond just providing the technology and then leaving people on their own.” Such integrated approaches are key to a strong online presence and can help specialised products gain reach in a way that offline methods never would.

Bata is another good example of an offline brand going online and finding success. Manoj Chandra, VP - Marketing, Bata India, is very involved with his company’s online push. He said that the company had seen both value and volumes increase online and Bata had a very integrated approach which used the Internet for both brand building and e-commerce, and aside from their own e-commerce site, the company is also present on multi-brand websites.

Chandra further said, “Customers care about brands more than channels. If you can make their brand journey simpler, they will take the new channel. We’re not leading by discounts, but instead offer our full catalog online, while a store has physical limits on stock. We offer search and comparison online, and we can use our online presence to drive offline buying up as well. The important thing is to realise that having an e-commerce store will not cost your brick and mortar business, but will only help it grow, and then taking the time to understand what you can give the audience, and how you can give it to the audience. At the end of the day, it is like any other business, and people must approach it as such.”

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MartJack News

Reasoning Global aims to double revenue in FY 11

06/02/2011

Mumbai, Feb 6 (PTI) E-sales solutions provider Reasoning Global eApplications is expecting to more than double its revenue growth in the current fiscal to about USD 3 million, a top company executive has said.

"We are expecting more than 100 per cent topline growth this fiscal ending March, 30, reaching USD 3 million," Reasoning Global eApplications Vice-President (Marketing) Jeetendra Joshi told PTI here.

For e-sales solutions, the company uses its flagship product, MartJack, a ready-to-use platform with a comprehensive set of features that helps retailers in establishing and running their e-commerce business.

The company, which has more than 3,000 e-stores in its clientele, is bullish on domestic expansion plans and expects to raise its market share from the present 10 per cent to 30 per cent by 2013. India''s total e-commerce market size is about Rs 630 crore, which is expected to reach Rs 2,250 crore by 2012, according to Caris & Company report.

Its prominent clientele include Godrej, Geetanjali Jewellers, Next, Videocon, Base Camp, Mitashi and Ruby London.

Besides, setting up estores for retailers, Reasoning Global also provides entrepreneurial opportunities to people who want to set up their own web stores.

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MartJack News

Transactions on ‘MartJack’ powered online stores cross the Rs.1bn milestone

India Infoline News Service / 17:33 , Mar 22, 2011

E-commerce has enabled Indian manufacturers and retailers to significantly increase their reach across India and global markets too.

‘MartJack’ India’s largest e-commerce platform announced that in the short span of 3 years, online stores powered by ‘MartJack’ have achieved a milestone revenue of Rs, 100 Crore.

MartJack, a digital commerce platform developed by Reasoning Global eApplications Pvt. Ltd., influences a significant portion of e-commerce in India. It is notable that these ‘MartJack’ powered stores are spread across a breadth of business verticals as well as from small local businesses to enterprise. E-commerce has enabled Indian manufacturers and retailers to significantly increase their reach across India and global markets too. With Indian brick and mortar stores expanding to online stores using digital media aggressively for marketing as well as sales, the e-commerce has experienced a second coming in Indian Retail Sector. E-commerce has seen a 30% YoY growth in the Rs. 31000 Crore B2C e-commerce business.

On achieving this milestone Anubhav Kushwaha, Vice President, Business Strategy & Alliances, Reasoning Global commented, “We all are very excited to achieve this significant milestone within 3 years of operations, adoption of Internet & other digital media, as sales and product discovery channels is going to play a decisive role for retailers’ success in the next few years.”

MartJackhelps retailers to build their own digital stores across multiple channels including Internet, Mobile & Social Media. Leveraging the eco-system built around MartJack that includes payment solutions, logistics solutions as well as customer acquisition solutions, retailers can reach consumers across digital media and influence them to make purchases both online and from their physical stores.

Jeetendra Joshi, Vice President, Marketing, Reasoning Global mentioned “We wish to congratulate our merchants who have embraced digital channels like the Internet, mobile etc. as sales and customer acquisition channels.” Categories which has seen significant growth are Consumer Electronics, Laptops, MP3/MP4, Digital Cameras, Mobile Phones, Books, Jewellery & Apparel; showcasing the broad acceptance of Internet as a shopping channel among Indian consumers.”

The MartJack Enterprise platform is being used by prominent brands in India like Videocon, Big C mobiles, HCL, Next Retail, Ddamas, Nakshatra, Cygnus, Gili, Olive Telecom, The Bombay Stores, Sangeetha Mobiles, Neerus, Being Human Watches, UB Group, Basecamp etc. There are several international brands too like Sage Clothing, Geraldonline and many more. In parallel a number of local brands and SMBs (small and medium businesses) use MartJack SMB platform to establish their digital presence.

Driving on their years of experience in the Indian market, the Reasoning Global team works on a fundamental premise that, e-commerce in India will be primarily driven by local brands because of the Indian consumers’ behavioral trends. According to Jeetendra Joshi, “Indian consumers are very attached to their local brands irrespective of where they are. Using digital media, these local brands can make themselves available to consumers surpassing geographical barriers”.

Speaking about Reasoning Global’s future plans, Jeetendra Joshi, Vice President Marketing, Reasoning Global said, “We aim to directly or indirectly influence a substantial percentage of transactions in Indian digital commerce industry by FY 2013. The company that has its presence in US & UK already, is also planning to expand its’ presence in GEC countries post April 2011.”

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MartJack News

Transactions on ‘MartJack’ powered online stores cross the Rs.100Cr milestone

‘MartJack’ India’s largest e-commerce platform today announced that in the short span of 3 years, online stores powered by ‘MartJack’ have achieved a milestone revenue of Rs, 100 Crore.

BY: P.Chakravarty | Thu Mar 24, 2011

MartJack, a digital commerce platform developed by Reasoning Global eApplications Pvt. Ltd., influences a significant portion of e-commerce in India. It is notable that these ‘MartJack’ powered stores are spread across a breadth of business verticals as well as from small local businesses to enterprise. E-commerce has enabled Indian manufacturers and retailers to significantly increase their reach across India and global markets too.

With Indian brick and mortar stores expanding to online stores using digital media aggressively for marketing as well as sales, the e-commerce has experienced a second coming in Indian Retail Sector. E-commerce has seen a 30% YoY growth in the Rs. 31000 Crore B2C e-commerce business.

On achieving this milestone Mr. Anubhav Kushwaha, Vice President, Business Strategy & Alliances, Reasoning Global commented, “We all are very excited to achieve this significant milestone within 3 years of operations, adoption of Internet & other digital media, as sales and product discovery channels is going to play a decisive role for retailers’ success in the next few years.”

MartJack helps retailers to build their own digital stores across multiple channels including Internet, Mobile & Social Media. Leveraging the eco-system built around MartJack that includes payment solutions, logistics solutions as well as customer acquisition solutions, retailers can reach consumers across digital media and influence them to make purchases both online and from their physical stores.

Mr. Jeetendra Joshi, Vice President, Marketing, Reasoning Global mentioned “We wish to congratulate our merchants who have embraced digital channels like the Internet, mobile etc. as sales and customer acquisition channels.” Categories which has seen significant growth are Consumer Electronics, Laptops, MP3/MP4, Digital Cameras, Mobile Phones, Books, Jewellery & Apparel; showcasing the broad acceptance of Internet as a shopping channel among Indian consumers.”

The MartJack Enterprise platform is being used by prominent brands in India like Videocon, Big C mobiles, HCL, Next Retail, Ddamas, Nakshatra, Cygnus, Gili, Olive Telecom, The Bombay Stores, Sangeetha Mobiles, Neerus, Being Human Watches, UB Group, Basecamp etc. There are several international brands too like Sage Clothing, Geraldonline and many more. In parallel a number of local brands and SMBs (small and medium businesses) use MartJack SMB platform to establish their digital presence.

Driving on their years of experience in the Indian market, the Reasoning Global team works on a fundamental premise that, e-commerce in India will be primarily driven by local brands because of the Indian consumers’ behavioral trends. According to Mr. Jeetendra Joshi, “Indian consumers are very attached to their local brands irrespective of where they are. Using digital media, these local brands can make themselves available to consumers surpassing geographical barriers”.

Speaking about Reasoning Global’s future plans, Mr. Jeetendra Joshi, Vice President Marketing, Reasoning Global said, “We aim to directly or indirectly influence a substantial percentage of transactions in Indian digital commerce industry by FY 2013. The company that has its presence in US & UK already, is also planning to expand its’ presence in GEC countries post April 2011.”

About MartJack:
'Martjack’, the flagship product of Reasoning Global eApplications Pvt. Ltd., is a multi channel retailing solution, which enables any business to build their digital stores to showcase their products in a rich way, influence consumers through a rich product experience, drive consumers to make purchases through promotions, provide flexible & convenient shopping options, enable online sales and also drive consumers to the physical stores of the business.

Offered on SAAS (software as a service) model MartJack can enable effective online presence for brick and mortar stores, retail establishments, manufacturers and marketplaces

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MartJack News

Being Human Watches by Salman Khan : Salman Khan launches ‘Being Human Watches’ Online

Being Human Watches by Salman Khan : Salman Khan launches ‘Being Human Watches’ Online

December 27, 2010, Mumbai: Superstar and philanthropist Salman Khan today inaugurates his exclusive online store www.beinghumanwatches.com and introduces an exquisite range of limited edition ‘Being Human Watches’ internationally. Conceived and designed by Salman Khan, ‘Being Human Watches’ support the twin causes of education and healthcare. This move by the Being Human: The Salman Khan Foundation enables Salman Khan’s fans to buy the watches even if they cannot access the 50 stores the watches currentky retail in. Royalties from Being Human Watches will be utilized for education and healthcare of the underprivileged. The chic range flaunts watches for both men and women.

The exquisite range of Being Human Watches conceptualized by Salman Khan was developed with a vision to combine three excellent components – great watch making, signature style and affordability. Reasoning Global eApplications Pvt. Ltd. with their unique multi channel retail solution “Martjack” as Being Human Watches online strategic marketing associate, this luxury product portal is launched for people who love stylish watches. These watches will reflect the taste of internationally recognized style icon Salman Khan that can be conveniently purchased online by using various payment options for online shoppers.

On this occasion Salman Khan commented saying, “Being Human Watches are about looking good and doing good. If you are buying a Being Human watch, you should be able to buy it in your time and space. As the watches are now available online, buy them 24/7 and wear them 24/7.”

With the promotion of Being Human watches on social networking sites like Facebook and Twitter, Salman Khan was observed posting comments for this social cause such as, “Look Good and Do Good. Express your support in ‘Being Human’ style now”.

About Being Human: The Salman Khan Foundation:
Being Human: The Salman Khan Foundation is a registered charitable trust which focuses on the twin causes of education and healthcare.

About Reasoning Global eApplications Pvt. Limited

Reasoning is retail centric, software product development, company that is focused on enabling retailers leverage the immense capabilities of the Internet and mobile platforms as powerful customer acquisition, customer connection and marketing channels. Reasoning’s products, especially MartJack, enable retailers to establish an online store front quickly and at a low cost to update it simply and continuously without having to maintain an expensive IT infrastructure.

To meet the unique demands of Indian retailers, the multiple barriers of technology, logistics, online payment processing, customer acquisition & effective online sales need to be addressed in a single solution. To provide such a solution, in close partnership with Google, HDFC Bank & Aramex, Reasoning has built an eco-system around Martjack to offer a complete solution to retailers including payment, online marketing and logistics besides the complete technology solution to build & manage the online store for retailers.

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MartJack News

Powering e commerce

By Seema Seth | April 02, 2011

Aimed at those who wish to open online store and leverage internet or mobile based sales, Martjack comes integrated with Amazon, eBay, Google Merchants, Yahoo etc. and is a white label account that allows complete branding of your store. Any large scale retailer, manufacturer or even a small time single-shop owner can open an account, at a paltry Rs. 1000/- a month or go upto Rs. 50,000 a month depending on the size of operations.

Aadeetya Sriram (AS): The concept of MartJack is unique, could you elaborate on the services that you provide? What actually drove you to introduce this retail platform?

Nitin Padmawar (NP): Reasoning came up with MartJack to provide retailers/organizations with a multi-channel retailing solution which enables any business to showcase their products in a rich way, influence consumers through a rich product experience, drive consumers to make purchases through promotions, provide flexible & convenient shopping options, enable online sales and also drive consumers to the physical stores of the business.

AS: There has been sudden rise in no. of e-shoppers in the country, what are the engaging factors for virtual shopping?

NP: Increase in internet penetration and brands offering products themselves has increased trust and comfort of online buyers. Genuine products, value proposition, backing of brand service guarantee is fueling buying in online space. Virtual shopping offers product discovery opportunity to online shoppers. Most of the time buyers get better offers than offline stores.

AS: How can brands subscribe to your services? Which are the brands that are of prime importance to you?

NP:We are offering our services to biggest brands / retailers to single shop owner. All the brands and categories are of prime importance to us. We are getting enquiries from metros as well as from tier 1 and tier 2 cities.

AS: What sort of clients are you catering to?

NP:Scalability of the Martjack platform has been proven with the prominent brands in India like Videocon, Big C mobiles, HCL, Next Retail, Ddamas, Nakshatra, Cygnus, Gili ,Olive Telecom, the Bombay stores, Sangeetha Mobiles, Neerus, Being Human watches, UB Group, Basecamp etc. and several international brands like , Sage Clothing, Geraldonline and many more – use the Martjack platform to establish their online stores, get direct online sales, and also increase the footfalls at their physical stores. We are catering to all the categories; Apparel, Jewellery, Electronics, Laptops, Mobile phone and accessories, Digital Cameras & Handicraft.

AS: How much investment went through during your inception? When did you break-even?

NP:We have raised $ 4 million till date and we are growing at more than 150% YoY.

AS: Whom do you view as your competitors?

NP: At this point of time, quite surprisingly, we do not have any sort of competition in this market.

AS: “Future of E-Commerce in the country” your view?

NP:We feel that India currently reached tipping point for Ecommerce, in next 3 years Internet is going to play major role as sales and marketing channel. With Government focus on Rural Broadband development and Increasing acceptance by Tie 2 and Tier 3 cities we expect ecommerce to grow 35% YoY for next 3 years.

AS: What plans do you have for MartJack in the near future? Are you coming up with any m-commerce solution?

NP:Apart from the online stores powered by MartJack, Reasoning Global is also powering marketplaces such as www.Makemygiftz.com of Gati Courier, and www.HDFCBANKSMARTBUY.com (an Initiative of HDFC BANK) where the retailers get the opportunity to capitilize on the present consumer base of these businesses to drive sales. “We aim to influence directly or indirectly influence 30% online transactions in Indian ecommerce industry by FY 2012. Reasoning will empower more than 10000 stores through the Martjack platform the end of FY 2011-12. The company plans to expand its’ presence in GEC countries post April 2011.” Reasoning has also ventured into the new growing aspects of digital commerce such as mobile commerce & social commerce and is planning to empower retailers using MartJack to leverage these channels actively in early FY 2011-12

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