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Bajaj Consumer Care Joins hand with IndiaMART, to enhance their digital presence in B2B market segment

Posted On: 2020-09-16 06:33:56

IndiaMART InterMesh Ltd., today announced that Bajaj Consumer Care has engaged the services of IndiaMART platform to target potential customers of FMCG products range in the B2B category.

On this development, Mr Jaideep Nandi, MD, Bajaj Consumer Care Ltd. said, "Looking at the current trend of increasing consumer traction on the e-commerce platforms due to the coronavirus pandemic, it is the right time to expand our footprints into online B2B consumer market segment. Today, IndiaMART is the go-to marketplace for all types of businesses with a pan India coverage. Hence post joining hands with IndiaMART we are looking forward to targeting high intent B2B audience. We are hopeful to strengthen the online reach and visibility of Bajaj Consumer Care FMCG products with the increased digital presence."

IndiaMART, is the largest B2B online marketplace in the country with over 100 million registered users. IndiaMART exploits the latest in technology like artificial intelligence, machine learning and data analytics to leverage the robust behavioural matchmaking that connects suppliers with relevant buyers and vice versa, helping businesses to scale up with increased exposure on India's largest online marketplace.

The e-commerce sector in India has witnessed tremendous growth in recent years, and the pandemic has brought in a new wave of consumers looking for contactless buying. The rising internet and mobile penetration in India have resulted in the rapid adoption of the e-commerce model of business and it is estimated to become a $230 billion industry by 2028 accounting for almost 10% of the retail market.

Speaking on this development, Mr. Dinesh Gulati, COO, IndiaMART InterMESH Ltd., said, "Enterprises all over the world are looking to explore digital channels to expand their reach and visibility to target new customer bases not serviced directly through existing sales and distribution networks. Online has become the new norm especially post the Coronavirus outbreak, wherein the businesses are trying to explore the digital way of doing business. IndiaMART provides an enabling marketplace and a large ecosystem to buyers and sellers to expand their reach and penetration."

He further stated, "In the last six months we've witnessed above 40% growth in buyer traffic for consumer care products such as hair oil, face creams and sunscreen, and over 100% for hand sanitizer. This association will enable Bajaj Consumer Care with an alternate sales channel to reach high intent buyers easily."

Today, more and more businesses are utilizing digital mediums for generating leads backed with insights into the consumer mindscape. Digital platforms like IndiaMART provide a significant understanding of the way people are engaging online for enquiries, purchase decision making and sales. Several enterprises are already generating leads from potential buyers through IndiaMART's Enterprise Solutions initiative, thus unlocking the digital way of doing business. Today, more than 350+ leading brands across major industries like Healthcare, Construction Equipment, Oil & Lubricants, Generators, Commercial ACs, Farm Equipment, Hand and Power tools, Commercial Vehicles are executing plans to generate incremental business growth through their association with IndiaMART.

Shares of Bajaj Consumer Care Ltd was last trading in BSE at Rs.183.5 as compared to the previous close of Rs. 186.6. The total number of shares traded during the day was 27075 in over 620 trades.

The stock hit an intraday high of Rs. 187 and intraday low of 183.3. The net turnover during the day was Rs. 5002662.

Shares of IndiaMART InterMesh Ltd was last trading in BSE at Rs. 5137.95 as compared to the previous close of Rs. 5133.05. The total number of shares traded during the day was 9552.

The stock hit an intraday high of Rs. 5205 and intraday low of 4939.10. The net deliverable quantiy was 3264 shares.

Source: Equity Bulls

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