Automaker and multi-brand conglomerate, Mahindra & Mahindra has entered the booming Indian e-commerce space with its own online marketplace named M2ALL.com. With a pan-India reach, the online marketplace will bring a host of Mahindra products and services under one roof, the company said today at the official launch in Mumbai.
The e-commerce industry in India has been growing rapidly in the last few years and the Mahindra Group foresees it reaching an estimated $50 billion (Rs 315,850 crore) by 2020.
Keeping in mind the tremendous growth potential, M&M has set up a new 100 percent subsidiary company called the Mahindra Emarketplace Pvt Ltd, which will oversee all the operations of the M2ALL portal.
M&M already sells its two-wheelers on the portal and for its automotive operations has started exclusive online bookings of the recently launched TUV300 compact SUV on M2ALL.
Currently, five of Mahindra Group's 31 brands have virtual stores at the marketplace, and all the brands will be available within the next two years, said Vijay Mahajan, head, Emarketplace and corporate IT at M&M.
“The new digital platform will offer customers an enhanced buying experience that combines speed and convenience of e-commerce transactions with the trust and reliability associated with the Mahindra group," said V S Parthasarathy, Chief Financial Officer of the Mahindra Group.
“We not only plan to enable all Mahindra businesses to sell their products and services on M2ALL, but also give other manufacturers and sellers of complementary products and services, a unique platform to reach out to our customers,” added Parthasarathy.