The battle between tech giants for a dominant position in India’s eCommerce space has intensified as Google joined in.
Through their online payment system, which was renamed Google Pay, the company are launching their own eCommerce platform in India to go head to head with online retail giants Amazon, Flipkart and Walmart.
According to people privy to this information, the plan was one year in the making.
Google have conducted 2,000 workshops to identify sellers for their eCommerce platform; they have so far selected 15,000 sellers.
Google’s multi-strategy approach
While it may seem there’s a formulaic approach to venturing into the online retail space, largely through the acquisition of an existing entity, Google developed a unique strategy to achieve multiple goals at once.
Aside from providing the best online shopping experience and easing digital payments, they are going to grant consumer loans within Google Pay.
The company have added 2,000 online and offline merchants to their Google Pay platform, and tied up with four Indian banks — namely, HDFC Bank, ICICI Bank, Federal Bank and Kotak Mahindra Bank — for the loans which are payable in equated monthly installments.
The success of Google’s entry to India’s eCommerce market hinges on their 18-million subscriber base, plus a feature on their website which supports Indian languages.
Do you think they stand a chance of winning the eCommerce race in India? Let us know your thoughts in the comments below.
As always, to your continued success,
Dave & Matt