eCommerce has attracted many minds but now it has also started to attract huge businesses. Many have already begun the process of doing so. One such company recently started its own eCommerce business and its none other than the grand Tata group. It has begun with a new platform which isn’t much familiar in Indian market. The company plans to extend its scope of business to the eCommerce where it hasn’t touched upon till now.
The name itself means PHYSICAL + DIGITAL = PHYGITAL
Tata came into the idea of eCommerce business as an interest factor. Till now Tata could only get into huge businesses that dealt with high capital and huge workforce. Now the company has planned to do what entry level entrepreneurs are willing to do. Naming the venture as Tata CLiQ.
The company has opted for the platform called phygital form. This type of business have an online platform as well as have physical stores. This idea is kind of safe playing technique where some percentage of sales is guaranteed. But this form of business requires huge amount of capital to be invested but it’s the Tata group so it doesn’t matter how big the requirement is.
The line of products include consumer apparels and electronics. They further intend to increase their product line once the project clicks out well. The apps and online softwares are created by their very own Tata Consultancy Services(TCS).
Whatever the venture may it be, we call it the right time to enter into this form of venture because its anticipated that by the year 2030 we would see a rise in these forms of business from $20bn to $300bn. This venture may hit other brands as Tata has a very strong brand value and capital base. It is also going to be a tough war between the discount powered eCommerce players like Amazon Flipkart and snapdeal etc. But the Tata group has really made clear on the part that it is not going to participate in the discount wars but is going to provide quality products for the right amount of price. This attitude may prove out to be a good tactic but the ultimate deciding factor shall be the customer psyche.
There may be the discount and price war between these market players but ultimately someone is going to win..and the winner is…us!