Mouse eRetail, an online retail company, is mulling to expand its customer base to tier-2 and tier-3 cities. The Bangalore headquartered company had been concentrating its attention on online buyers in metros and tier-one cities till date.
“We are unlike other players in the country. While Flipkart, Homeshop 18 and Infibeam are vying with each other to grab the market share of 60-70 lakh online buyers in the metros and large cities in India, we want to broad base the market and democratize the whole eRetail business by reaching out to buyers in tier 2 and tier 3 cities and even the hinterlands of the country,” said Suvendu Tripathy, Chief Executive Officer, mouse-e.com.
The first of its kind in the online industry, the retailer has tied up with xygle.com to enable the customers to download mobile shopping application from the website and shop from a digital catalogue.
The company now provides shopping platform for 5,000 product categories and has one lakh book titles for sale in its website www.mouse-e.com. It has plans to add eighty lakh book titles in next two months. For retaining the customers confidence, the company has tied up with the Fed ex, a US based logistics services firm for in time delivery of goods.
It may be noted that online market in India is growing at the rate of 30 per cent compounded annual growth rate and is likely to touch $ 70 billion in next five years.
Tapan Das, Director, Mouse eRetail, said, “We are developing a model that would ensure cash profit at each product across categories”.
The company has received an angel investment to the tune of $ 2,00,000 and is in talks with a couple of venture capitalists for an investment up to $5 million by June 2012 for expansion across the country covering top 130 cities, Das added.