Online shopping venture from Aditya Birla group will not follow other ecommerce players by providing deep discounts on top brands that will be sold on the platform. The company will focus on personalization instead in order to gain more user traction.
The e- tailer will be competing with top online fashion platforms like Myntra and Jabong . The company is planning to achieve a market share of 15% by 2020.The company also plans to work on a model in order to achieve greater profitability and reach break even in next five years.
In a statement issued by company’s CEO Prashant Gupta , he said “We will never go for deep discounts for the biggest brands, unlike other portals. Rather, we would give customers personalised experience through our portal. We are in the business for a segment of consumers who are looking to see more curated, selected merchandise and not the largest range. We tried to check if any acquisitions were possible before starting our own venture.”
The company is working on many innovative ideas in order to lure customer and 3D trail room is one such initiative. The company has partnered with a UK tech firm to create a platform for 3D trial. The initiative would help customer make a buying decision much faster.
This is the second ecommerce venture of the group first one being trendin.in where customers can buy in house products from the portal. According to Gupta “TrendIn is basically for a certain section of consumers who are looking for Madura and Pantaloons brands, whereas abof.com is targeting millennials with 55+ brands”.
Vaibhav Attree 