Godrej Group Banks on E-Commerce to Achieve 'Vision 2020' Target

Godrej Group Banks on E-Commerce to Achieve 'Vision 2020' Target
Advertisement
Godrej group, which is eyeing a ten-fold increase in business volumes within a decade, is banking heavily on e-commerce to achieve its 'Vision 2020' target.

"For us, e-commerce is an extremely important channel going forward. All our businesses are focusing on e-commerce for sale of products. Though the share of e-commerce in our group is restricted to single-digits, still, we do see some leads," Godrej Group Executive Director and Chief Brand Officer Tanya Dubash told PTI on Tuesday.

For each vertical, it studied what is the best e-commerce fulfilment method and it is implemented, she said during the sidelines of launch of non-web based, mobile browsing experience, FreeG and a consumer connect initiative Masterbrand 2.0.

Commenting on 'Vision 2020', she said that her company has been witnessing a Compounded Annual Growth Rate of 26 percent on a year-on-year basis, which was a satisfactory pace.

In the appliance segment alone which currently has an annual sales turnover at Rs. 2,600 crores, the group envisages 6-8 percent business revenues coming from e-commerce channel by 2020 in the segment.

"Currently, 2-3 percent of our business is coming from e-commerce channel. However, we are looking at 6-8 percent of our business to come from e-commerce over next five years (in the segment). For this, we have already partnered with e-commerce sites like Flipkart and eBay. Moreover, we have got our own sites," Godrej Appliances AVP Ramesh Chembath said.

Godrej Tyson Foods, which is into ready-to-cook and fresh chilled chicken segment and is currently growing at 16-18 percent annually in terms of business volumes, is also working with a couple of e-commerce firms to widen its last mile reach.

"A couple of e-commerce companies are working with us for past 4-5 months. They are trying to develop a model so as to ensure delivery of products at the doorstep of customers," Godrej Tyson Foods' chief operating officer Arabind Das said, without disclosing the name of the two e-commerce companies.

Another company official said that they have tied up with all the food-based e-commerce sites for sale of products.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: E Commerce, Godrej, Internet
Mechanism to Control and Reverse Premature Cell Death Discovered
Intel Sensing Platform Unveiled for Mobility Healthcare Delivery
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News
 
 

Advertisement

Follow Us

Advertisement

© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »