Transactions on ‘MartJack’ powered online stores cross the Rs.100 Cr milestone

While eCommerce in India is still in its early stages, Reasoning Global eApplications has announced today that their technology platform MartJack, which powers the webstores of many brands including Videocon, HCL, Next Retail, Nakshatra, and the UB Group, has crossed Rs 100 crores in transactions.

The technology powers the backend of several online retailers, and was launched three years ago. In that time the revenue achieved by online stores on the platform has reached Rs 100 crore, across various verticals, and includes local businesses as well as large enterprises.

According to MartJack developers Reasoning Global, Indian brick and mortar stores are expanding to online stores using digital media aggressively for marketing as well as sales, and e-commerce has seen a 30 per cent year on year growth.

Anubhav Kushwaha, Vice President, Business Strategy & Alliances, Reasoning Global, said, “We all are very excited to achieve this significant milestone within 3 years of operations. We believe that the adoption of the internet and other digital media as sales and product discovery channels is going to play a decisive role for retailers’ success in the next few years.”

Using MartJack, a retailer can build their own digital stores across multiple channels including the internet, mobile and social media. The eco-system built around MartJack includes payment solutions, logistics solutions as well as customer acquisition solutions, so retailers need not invest in expertise in e-commerce at all, focusing on their core strengths.

Jeetendra Joshi, Vice President, Marketing, Reasoning Global, mentioned “We wish to congratulate our merchants who have embraced digital channels like the internet and mobile as sales and customer acquisition channels. Categories which has seen significant growth are consumer electronics, books, jewellery and apparel, showcasing the broad acceptance of Internet as a shopping channel among Indian consumers.”

Joshi added, “Indian consumers are very attached to their local brands irrespective of where they are. Using digital media, these local brands can make themselves available to consumers surpassing geographical barriers.”

He added, “We aim to directly or indirectly influence a substantial percentage of transactions in Indian digital commerce industry by FY 2013. The company that has its presence in US and UK already, is also planning to expand its’ presence in GEC countries post April 2011.”