Palred Online Technology said its wholesale ecommerce platform under the LatestOne.com platform has got off to a successful start.
The platform — which aims to supply equipment sourced from China and other countries directly to shops, distributors and retailers — is processing 4,000 orders per day, the company said.
The wholesale operation was started about a month ago. It has fulfilled 1.5 mn orders serving 10,000 pin codes in the country and has 1.25 lac visitors, Palred said.
“The site has 50 registered dealers / retailers in the very first month of trial operations. The website has built complete end-to-end e-commerce capabilities in the first 2 years of operation combining inventory led model and managed market place, with over 10,000 active SKUs in the catalogue at any given point,” said the website.
Unlike regular online retailers, this one primarily targets shops and other retailers and currently offers only mobile & tech accessories.
“B2B wholesale portal is a dealer direct model which supplies directly to dealers/retailers anywhere in the country, directly from the manufacturers, wholesalers and importers with no other distribution layers in between. The prominent mid-market brands such as PTron are procured in large quantities directly from the factories in China & India and stocked in LatestOne.com’s fulfillment centers in Delhi & Mumbai and are sold on an inventory led model,” said the e-commerce website.
“With this initiative the site has become the preferred one-stop online store for all mobile and tech accessories in India. We will add 20,000 new products to our existing catalogue and will also introduce new sub-categories. Our registered customer base is targeted to reach the 2 Million mark by the end of this quarter. Our catalogue will increase 3 fold and yet we will maintain the committed delivery time of 72 hours in metros,” said Ameen Khwaja, the Founder and CEO of LatestOne.com.
LatestOne.com targets to register 1000 retailers by the end of FY 16-17 and service 10,000 outlets on a regular basis in 3 years.
“Dealers will get wholesale prices for a minimum order value of INR 3,000 with an access to a catalogue of 10,000 mobile and tech accessories. This will ensure competitive wholesale prices along with quality of products sold on the platform.Advantage is that it will help cut costs of goods purchased, reduce inventory levels and improve speed to market for the dealers/retailers”.
“The site also provides the ability to source all accessories from one location versus the current structure where the dealers/retailers have to deal with multiple vendors, each specializing in one sub-category of products. The site is easy to navigate and user friendly”, said the company.
LatestOne.com is a Hyderabad-based e-tailer specialized in tech and mobile accessories.
It offers products such as Bluetooth devices, tablet accessories, power banks, Android TVs,smart watches, CCTV’s etc.
The site is owned by Palred Online Technologies Pvt. Ltd which is a subsidiary of Palred Technologies Ltd (PTL).
The mobile app for B2B segment will be launched next quarter.The market of mobile accessories of Rs 18,000 Crores is catered through 70,000 outlets in the country. Of this, 10,000 outlets are in the organized / corporate sector and 60,000 stores are in the entrepreneur driven MSME segment.
“In future, we will use the B2B outlets to procure online orders for LatestOne.com directly from the store front of our dealers / retailers through DTPs (data touch points). We are building process & technological capabilities to launch that before the end of this financial year”, said Khwaja added.