Mahindra Group forays into e-commerce, launches M2ALL.com
Mail Today Bureau September 15, 2015
The Mahindra Group announced its debut into the e-commerce space on Monday with the launch of M2ALL.com, an e-marketplace for the company's products and services.
"The online marketplace has begun taking bookings for the new compact SUV- Mahindra TUV300. The new digital platform will offer customers an enhanced buying experience that combines speed and convenience of e-commerce transactions with the trust and reliability associated with the Mahindra Group," said chief financial officer VS Parthasarathy.
He did not reveal the amount of money being invested in the venture but said that operations began with frugal investment and will incrementally go up as the business scales up.
"M2ALL will enable all the Mahindra businesses to sell products at the marketplace, and going forward, also offer other manufacturers and sellers of complementary products a platform", Parthasarathy added.
"Currently, five of Mahindra Group's 31 brands will have virtual stores at the marketplace, and all the brands will be available within the next two years as and when their technical back-end is sound", Vijay Mahajan, head of E Market Place, corporate IT, said.
E Market Place is a 100 per cent subsidiary set up by Mahindra in June to look after the e-commerce business, Parthasarathy said.
"We want to bring the brick-and-click together. E-commerce is not being seen as a separate channel, but as one of the other channels along with dealers and distributors to work as a complementary network," he explained.
Parthasarathy said that E Market Place is in the process of expanding its team."M2ALL also offers Group companies and external sellers e-commerce technology, including online catalogue management services, integration with payment gateways, back-end integration, and support services such as digital marketing, data analytics, logistics and call centre services", the company said.
Mahindra has been losing market share in recent years and had on Thursday launched its first compact sport utility vehicle TUV300 in three years to regain lost ground.