iStreet Bazaar, a project by iStreet Network Ltd (BSE: ISTRNETWK), is innovating how eCommerce can reach and be delivered to the common man of India. iStreet Bazaar Stores aim to simplify eCommerce for the common man.
Started with a small pilot in the year 2013, iStreet Bazaar team set up an Internet Retail Store along with a local general store and sold over 40 wrist watches under a great online DEAL to common people of Rathodi village (a village approximately 40 km north from Mumbai Main). It all happened through a website and in just 5 hours. All the buyers had a few things in common–
For all these buyers, who represent about 90% of India, eCommerce was simplified and delivered by the iStreet Bazaar team. iStreet Bazaar is doing exactly this; it is simplifying eCommerce for the common man of India by setting up iStreet Bazaar stores. These stores will be able to take the benefit of eCommerce to smaller towns, villages & to the common man. It would give the common man the benefits, comfort and joy of shopping through the Internet. iStreet Bazaar will also be a platform for entrepreneurs looking to start a new business. It also offers a great opportunity to small businesses.
iStreet Bazaar through it’s world class platform and network stores will offer lacs of products and hundreds of brands at extremely competitive prices so that customers in smaller towns and villages can easily buy products which otherwise won’t be available in their area.
These iStreet Bazaar Stores will eliminate payment related issues that arise when transacting online. iStreet Bazaar Stores also put a face to the online transaction since the customers will be transacting at a Store with a person behind the counter. This increases the level of trust that is necessary during any online purchase. In the Indian scenario this definitely becomes a big advantage for the stores since trust is one of the key factors in the adoption of eCommerce. Anyone, literally anyone, can buy at an iStreet Bazaar Store.
In future, retail will not be segregated into online and offline but will be analyzed as to how effectively can the combination of the two be used to deliver the best shopping experience to consumers in this highly connected world. iStreet Bazaar is taking a step in to the future of retail where technology (eCommerce), along with assistance, is going to change the way real India buys and benefits.
Currently, the company is operating in five states in the western part of the country, to name them, Gujarat, Rajasthan, western Maharashtra, Madhya Pradesh and Chhattisgarh. They have a total of 4,028 iStreet Bazaar stores in these 5 states as on 31st December, 2015. iStreet Bazaar is for the common man of India.
Customer friendly and Hassle free online shopping at iStreet Bazaar Stores
iStreet is the first and only company in India to run these Internet Retail Stores. It has been the pioneer in establishing this fusion store of the future and is really betting big on an offline-online fusion future of the retail sector. The continuous focus is to build Network Partners and penetrate further into existing states and new states as well. Currently focusing on building a stronger and more relevant supply chain for the partners, the company wants to create 1,25,000 Network Partners in the next 3 years.
Pradeep Malu, Founder and MD: Pradeep is a Chartered Accountant and an Entrepreneur. He is the founder of iStreet Network Limited. He redefined company’s business in 2013 and led the company into eCommerce segment in India. He has been an eCommerce professional since 1999 and has conceptualized and executed large number of eCommerce projects in B2C, B2B and C2C space. His vision has led emergence of iStreet Bazaar, India’s first chain of Internet Retail Stores, which is about simplifying eCommerce and taking its reach to common man of India. His eCommerce experience ranges from selling hair clips to cars in India and also in over 40 countries.
Lakshya Malu, Co-founder: Lakshya graduated with a Degree in Mechanical Engineering from Boston University, USA. After graduating, he returned to India and has been working on various eCommerce projects since last 4 years. He worked in collaboration with various large brands and eCommerce platforms to develop products for different eCommerce markets around the world. During his tenure, he worked and studied the present system of trade, its deficiencies, its pricing systems, its quality and authenticity process, end usage, consumer perception, how eCommerce benefits common people of India etc. He has previously worked at Memorial Sloan-Kettering Cancer Center, Cyber Materials LLC and Exploration Schools, Inc.
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