Mahindra Group, which has a presence in the retail sector through a few offline specialty retail units, is looking at small steps to build its presence in the online retail market, Anand Mahindra, CMD of the company told .
The group, known for its flagship automotive business, has presence in retail of toys, baby care products besides used cars.
In the online world, it runs Indianbluebook.com, an auto information guide (as another spin-off of its used car business Mahindra First Choice besides other channels for selling products of its offline retail ventures such as Mom & Me and toy store Beanstalk.
The group chief said that all these are differentiated plays: “Mahindra is not the kind of place where you go in and then you will raise billions of dollars and spend them in advance of a business model being proven.”
Commenting on the potential of the space, he said, “E-commerce in India has huge potential particularly given our infrastructural problems. Consumers will find it easier to buy on the internet, and a boom awaits us especially when we get 4G next year.”
The Indian e-commerce market is witnessing aggressive competition from global giants like Amazon, as well as home-grown players including Flipkart and Snapdeal.
Earlier this month, Tata Sons’ former chief Ratan Tata said he is interested in e-commerce as a sector after reports said he is looking to invest in Snapdeal.
(Edited by Joby Puthuparampil Johnson)