September 22: Brands and retail in Electronics have changed a lot in the last 40 years. Initially, there were three major Indian brands BPL, Videocon and Onida. From 1985 to 1995; the market was also growing. Whenever there is any Monopolistic or Oligopoly situation, it allows more players to enter. There was an oligopoly situation with only BPL and Videocon, leading brand Onida was at 3rd place. In the mid-’90s, came Sony, Samsung and LG. The Global MNC brands operated and behaved like local brands and captured the market. Eventually, BPL and Videocon could not compete and lost market shares.
Again, there was an oligopoly situation when LG and Samsung, Sony, ruled the market. There was a gap in the middle and lower segments, filled by Chinese brands, Haier, TCL, MI, One plus, and various local brands. Over the period, consumer behaviour have changed. Now the Electronics products, including Mobile, IT, are sold more on ease of buying and value for money, rather than Brand loyalty.
There has been an increase in sales on online Ecom platforms. The contribution of online sales is close to 30%. However, most customers, especially in Electronics and high-value items, still wish to touch, feel, and discuss the product before buying, therefore prefer offline stores.
As per various surveys and studies, a new Hybrid model of Online and offline is ideal for the customers and sellers. Currently, only selected companies are leading in the online space, which are in the “Search online and buy online” concept, leaving a considerable gap in Search online and buy offline category. The last mile or nearby sellers is best suited to fulfill buyers’ needs of any product. In high-value critical items, the buyer can interact with nearby sellers to get the product of his/her choice in the shortest possible time.
So, there is a need/gap for an ecom platform with a differentiation. Hometech has a strong differentiation and offers an alternative or even better platform for consumers and sellers.
“hometech.in” is World’s First Click to brick, ECom platform offering, Search Online, Buy, Off-Line facility for all Electronics products.
It is designed for the benefit of Buyers and small and medium retailers of Electronic Items with a strong differentiator.
Local offline sellers can develop their showrooms online to get additional buyers, who only decide by searching online. The buyer can search for products, brands in their location and can connect with the seller by way of Audio/Video link given in the App, to get real-life experience, while being online, make their purchases.
The Company is also helping the sellers by bulk buying of the items they want to sell at competitive prices.
Hometech, established in 2003 by Ramesh Gaur, an Industry veteran, having more than 40 years’ experience in the trade, as a Pvt Ltd company. Ramesh Gaur is MD/Cofounder. Hometech has got good traction so far and getting excellent responses from buyers and sellers. 1000+ sellers from 11 states have already registered.
As per Ramesh Gaur MD and Co-Founder, “we did the research for ten years and met close to 1000 sellers and customers to understand their needs and provided all in-home tech. Hometech will also introduce post-warranty services support to give end-to-end solutions and support to buyers for all Electronics items. There are some unique and exclusive benefits on Hometech, like getting an expert opinion before buying. The buyer can see the product demo via a Video link on the App. The buyers get personalized service support and prompt delivery, and various buyer-friendly payment options, including finance and cash on delivery.”
On Home tech, the buyer gets the safest real-life buying experience of Electronics items while sitting at home, saving time & money, reducing pollution, and avoiding unnecessary damages and returns and replacement and need fulfilment in the most convenient and fastest way. Hometech plans to sign up 20000 sellers by 2025 and build a GMV of 10000 cr”. He encourages sellers to sign up on Hometech for growth and a better future and request buyers of electronic items to visit Hometech for getting the best deal on products.
Visit HomeTech now http://www.hometech.in
Divya Agarwal
