Aimed at those who wish to open online store and leverage internet or mobile based sales, Martjack comes integrated with Amazon, eBay, Google Merchants, Yahoo etc. and is a white label account that allows complete branding of your store. Any large scale retailer, manufacturer or even a small time single-shop owner can open an account, at a paltry Rs. 1000/- a month or go upto Rs. 50,000 a month depending on the size of operations.
Aadeetya Sriram (AS): The concept of MartJack is unique, could you elaborate on the services that you provide? What actually drove you to introduce this retail platform?
Nitin Padmawar (NP): Reasoning came up with MartJack to provide retailers/organizations with a multi-channel retailing solution which enables any business to showcase their products in a rich way, influence consumers through a rich product experience, drive consumers to make purchases through promotions, provide flexible & convenient shopping options, enable online sales and also drive consumers to the physical stores of the business.
AS: There has been sudden rise in no. of e-shoppers in the country, what are the engaging factors for virtual shopping?
NP: Increase in internet penetration and brands offering products themselves has increased trust and comfort of online buyers. Genuine products, value proposition, backing of brand service guarantee is fueling buying in online space. Virtual shopping offers product discovery opportunity to online shoppers. Most of the time buyers get better offers than offline stores.
AS: How can brands subscribe to your services? Which are the brands that are of prime importance to you?
NP: We are offering our services to biggest brands / retailers to single shop owner. All the brands and categories are of prime importance to us. We are getting enquiries from metros as well as from tier 1 and tier 2 cities.
AS: What sort of clients are you catering to?
NP: Scalability of the Martjack platform has been proven with the prominent brands in India like Videocon, Big C mobiles, HCL, Next Retail, Ddamas, Nakshatra, Cygnus, Gili ,Olive Telecom, the Bombay stores, Sangeetha Mobiles, Neerus, Being Human watches, UB Group, Basecamp etc. and several international brands like , Sage Clothing, Geraldonline and many more – use the Martjack platform to establish their online stores, get direct online sales, and also increase the footfalls at their physical stores. We are catering to all the categories; Apparel, Jewellery, Electronics, Laptops, Mobile phone and accessories, Digital Cameras & Handicraft.
AS: How much investment went through during your inception? When did you break-even?
NP: We have raised $ 4 million till date and we are growing at more than 150% YoY.
AS: Whom do you view as your competitors?
NP: At this point of time, quite surprisingly, we do not have any sort of competition in this market.
AS: “Future of E-Commerce in the country” your view?
NP: We feel that India currently reached tipping point for Ecommerce, in next 3 years Internet is going to play major role as sales and marketing channel. With Government focus on Rural Broadband development and Increasing acceptance by Tie 2 and Tier 3 cities we expect ecommerce to grow 35% YoY for next 3 years.
AS: What plans do you have for MartJack in the near future? Are you coming up with any m-commerce solution?
NP: Apart from the online stores powered by MartJack, Reasoning Global is also powering marketplaces such as www.Makemygiftz.com of Gati Courier, and www.HDFCBANKSMARTBUY.com (an Initiative of HDFC BANK) where the retailers get the opportunity to capitilize on the present consumer base of these businesses to drive sales. “We aim to influence directly or indirectly influence 30% online transactions in Indian ecommerce industry by FY 2012. Reasoning will empower more than 10000 stores through the Martjack platform the end of FY 2011-12. The company plans to expand its’ presence in GEC countries post April 2011.” Reasoning has also ventured into the new growing aspects of digital commerce such as mobile commerce & social commerce and is planning to empower retailers using MartJack to leverage these channels actively in early FY 2011-12