The Mahindra Group, a manufacturing major with interests in auto, automotive, defence and agribusiness, on Monday announced the launch of an e-marketplace that will initially sell the group’s products, joining a growing list of India's large business houses that are tapping the digital space to grow their businesses.
Called M2ALL, the venture will be housed in a new company called Mahindra E-Marketplace Ltd, and will initially, exclusively handle bookings for the recently unveiled compact sports utility vehicle, the TUV 300.
“This new digital platform will offer our customers an enhanced buying experience that combines the speed and convenience of e-commerce transactions with the trust and reliability associated with the Mahindra Group,” said group CFO VS Parthasarathy.
The Mahindras’ venture is the latest e-commerce foray from large Indian business houses including the Tatas and the Aditya Birla Group which have earmarked large funds or are mentoring start-up firms to grow their existing businesses.
Incidentally, all these business houses have a presence in the retail business and all such forthcoming e-commerce ventures will guide the groups’ plans to extend the reach of their consumer-facing businesses.
“We not only plan to enable all Mahindra businesses to sell their products and services on M2ALL but also give other manufacturers and sellers of complementary products and services a unique platform to reach out to our customers,” Mr Parthasarathy added.
With this e-marketplace, customers can browse over 400 Mahindra products and services and currently order over 40 of them, including vehicles, real estate, gensets and two-wheelers among others. The portal works on the ‘click and brick’ model with the products being ordered online and Mahindra’s partners, its dealers, distributors and logistics teams helping in delivery.