Posts tagged e-commerce

Foreign Retailers testing Indian Markets with e-Commerce Customization


Global E ComFor mega-retailers, these days, entering emerging markets such as India is tough owing to intense competition, leaving very less room for error. Precisely analysing and testing the market has become the need of  the hour for these big players.

Large foreign retail companies these days have identified an optimum way to test Indian Markets. They have customized their e-retail stores as per the needs of Indian consumer, by providing options to pay online in INR and delivering the products to most parts of the country. This has not only opened a new channel for them but has also given them an avenue to understand the Indian Retail market and consumer behavior at almost negligible investment.

This clearly depicts how the e-commerce space is hotting up. The Indian e-commerce market is expected to grow at a CAGR of 40%, from USD 5.9 billion in 2010 to USD 34.2 billion in 2015. It is still in the early phase and it will amplify at a scorching pace. The digital urban culture that is swiftly influencing the Indian society, calls for the retail companies to understand the importance of e-commerce.

Ginesys provides end-to-end enterprise solutions across the retail value chain covering, from procurement to sales. Ginesys Webworks specialises in e-commerce with one-stop solution from e-business planning, creative, design, development, operations and maintenance.

Source:http://wap.business-standard.com/article/companies/us-retailers-go-online-to-net-indians-114030500724_1.html

 

 

Ginesys at India Fashion Forum 2014


BlogIMAGES Group once again proudly presented the 14th edition of India Fashion Forum. Held on 17th and 18th January, this mega forum saw world visionaries and think tanks share their vision at the Bombay Exhibition Center, Mumbai.

Besides National and Global fashion retail chains; India’s top regional retail chains and most successful franchisees actively participated in this forum.

The main highlight of our participation was Rohit Khetan (Marketing and Strategy Head) being a distinguished panelist on  “Expanding to The Next Frontier of Fashion Growth – Reaching the Tier II, III and IV Markets” along with:

·      Gopalakrishnan Sankar, CEO – Reliance Footprint and CEO – Reliance Living

·      Praveen Sinha, Co-Founder and MD, Jabong.com

·      Sandeep Mukim, CEO, Proline

GINESYS received a great applause from its clients and significant response from the keen visitors who are interested in building an organized retail business.

Organized apparel retailers tapping online route


Recently Ginesys released a report on how organized apparel retailers are moving into e-commerce space aggressively.

The main points highlighted were:

  • Almost 20.1 percent of organized apparel retailers are present on multiple online platforms.
  • The study also highlighted that 12.8 percent of organized apparel retailers have invested in their own ecommerce infrastructure i.e., ecommerce ready websites and 20.2 percent of organized apparel retailers are present on multiple online platforms including their own sites and third party marketplaces.

Commenting on the findings of the report, Prashant Lohia, CEO, Ginesys, said: “Retailers have realized that a major chunk of the target consumer base is now online. Organized retailers with their pan-India bandwidth and large resources are rightly placed to tap into this opportunity. As solution providers, we at Ginesys are developing products that facilitate a smooth transition to an online business model.”

 

You can read the full article at the links mentioned below:

http://news.in.msn.com/business/article.aspx?cp-documentid=253487402

http://www.indiaretailing.com/news.aspx?topic=1&Id=7145

http://epaper.asianage.com/PUBLICATIONS/ASIAN/AAGE/2013/08/05/ArticleHtmls/Organised-apparel-retailers-opt-for-online-route-Survey-05082013017046.shtml?Mode=1

http://www.fibre2fashion.com/news/apparel-news/newsdetails.aspx?news_id=149903

http://post.jagran.com/one-in-four-organized-apparel-retailers-tapping-online-route-study-1375845693

Try before you buy online



Gone are the days, when consumers steered clear of online shopping because it did  not give them an option to try out what they were about to buy. Online retailers have been busy making shopping experience as close to physical shopping experience.

Over the years in India, one of the biggest concerns for online shopping in categories such as apparels and accessories is that customers don’t know how exactly the garments will and accessories look on them.

Virtual trial room along with live chat gives that extra confidence to the customer who wants to put a face against the seller and they have witnessed 20-25 per cent increase in revenues in categories

However Prashant, CEO of Ginesys believes that to make an impact with Indian users, the current applications need to evolve much more. As these trial rooms are for a limited set of products and usually work separately from the main checkout process.

Read on for the full story in Deccan Herald.

READ MORE »

Charge VAT Separately on Promo Items using Ginesys


A trend has begun recently, that retailers putting items on promotion at X% discount and adding back the VAT . This leads to complexity in billing of adding the tax separately on an item which was earlier on a tax inclusive basis.

In Ginesys now we have incorporated this aspect and we can mark during creation of promotion whether billing is to happen on a tax inclusive or on a exclusive basis.This will lead to the correct calculation.

Example:
MRP 500
VAT 5%
Discount: 30%
Price after disc: 350
Price to be paid: 350+ 17.5 = 367.5

This will work under all types of promotions like Flat Discount, Flat Price etc. Using this feature retailers can better protect their bottom-line even when putting up items on discount.