Videocon products priced 20% lower on the net
videoconinternational.com
Source : FE
Aug 19, 1999, 9:20:43 AM
Videocon International Limited plans to joint the growing ranks of Indian bricks and mortar companies with full-fledged e-commerce sites on the World Wide Web.
In sync with its global vision, the company plans to launch a cyber shop targeted at the international market with its range of consumer electronic products. The fact that the prices of Videocon products on the Internet is 20 per cent less than the prevailing product prices in the market will help buoy sales on the Net hopes the company.
"We have been accepting online orders from the Indian diaspora through our existing Website on the Internet. Orders can be placed through a link on our Web site accessible at www.videoconinternational.com," said Videocon International Limited chairman VN Dhoot.
Launched to coincide with the Dubai Shopping festival in March this year, the Web page will soon be hived off into a separate Web site, said company sources. The company is currently waiting to reach a critical mass with its net based transactions, sources added. Videocon had launched a special offer titled 'India Festival 99' during the Dubai Shopping Festival. "We shall throw open our Web site to the Indian market once the e-commerce policy formalises and the security of the servers become impenetrable," said Dhoot.
However he also clarified that it is possible for a consumer living outside the country to order products for friends and relatives within India.
Payment for the products purchased on line will have to be made trough credit cards. Videocon International has tied up with a Dutch company, Multi Card, to handle the security validation of the transaction on the Internet. The distribution logistics for the orders received on the Internet will be handled by Videocon's 100 per cent marketing subsidiary: Paramount Global Limited. The company has also set up 25 branches across the globe to give a fillip to its international operations.
Videocon International is expecting a healthy response from its e-commerce site. "We did $ 2 million worth of business during the Dubai Shopping Festival, a bulk of this business came from our Web site," says Videocon International, director marketing, Nabi Gupta.
The company is currently concentrating on markets with a large NRI populace such as USA and West Asia. Support to the Web site will be extended through a global advertising and marketing campaign, which is in the offing. |
