Tata's Croma to foray into online retailing
Indian online retail segment likely to be worth Rs 7,000 crore by 2015
August 01, 2011 | comments ( 0 ) |
Tata Group firm Infiniti Retail that runs consumer durables and electronics chain of stores under 'Croma' brand said it will soon start selling products online to tap savvy consumers. Besides the new initiative, the company is also expanding presence of Croma stores with plans to open around 10 new outlets by the end of this fiscal and also strengthen after sales service infrastructure.
"Online sales are catching up in a big way in India. We will soon launch a new portal with some unique features to cater to consumers making purchases online," Infiniti Retail Managing Director and CEO Ajit Joshi said. He said the company is considering options like cash-on-delivery to make it easier for consumers to shop online and make it accessible to those who do not have or use credit and debit cards.
According to a latest report by industry body Assocham, online retail segment in India is likely to be worth Rs 7,000 crore by 2015 due to easy availability of broadband services and increasing Internet penetration, compared to Rs 2,000 crore at present. It is growing at an annual rate of 35 per cent.
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