benefitsPLUS, India’s most dynamic and compelling closed-group ecommerce website gears up to take an even healthier slice out of the estimated Rs 47,000 Cr market by announcing its acquisition of Snowball eRetail Services based out of Delhi to strengthen its online retail presence.
benefitsPLUS offers services to over 100 major corporates across India. It allows organization’s employees to use the benefitsPLUS Privilege Program to access special or exclusive discounts, offers and promotions on everyday shopping and services from local and national retailers. Retailers are exposing their brands to some of the most affluent and influential groups of shoppers and experiencing higher returns on their marketing investments through this program.
Commenting on the acquisition, Paul Shoker, Founder & CEO of benefitsPLUS, said, “The acquisition will help to accelerate our growth in this exploding ecommerce economy. It not only provides synergies but enormous economies of scale in various areas especially in securing better and deeper discounts for employees.”
Mohit Saxena, founder - CEO Snowball, said, “From a strategic standpoint this coming together positions us as the leader in the country and gives our clients better value. We intend to provide several interesting and innovative benefits programs to both employers and employees in immediate future.”
Added Shoker, “By servicing a potential audience of over 1 million employees through a secure, closed-group website, brands can promote themselves to a defined audience profile and drive additional sales. We have aligned $5 million dollars for investing in innovative opportunities and will continue to invest and scale in the right fitments by taking advantage of our technological edge, retail relationships and our membership base to ensure faster growth.”
Speaking on innovation, Shoker said, “We have plugged the redemption process gap for online and mobile coupon ecosystem and will launch this soon. We are completely mobile ubiquitous, our service works on SMS, IVR and most importantly on smart phones, where one can search, get directions and redeem at point of sale, we have built on the Android platform which is now ready for deployment.”