The Mahindra group has launched an ecommerce portal called M2all, where it will sell all Mahindra products and services, reports ET, and has already started taking bookings for its SUV Mahindra TUV300. The ecommerce marketplace will add other manufacturers and sellers of ‘complementary’ products (like helmets, biking gear, accessories etc.) with time. Mahindra has tied up with CCAvenue for payments on its portal as of now.
As of now, 5 of the group’s 31 brands will have virtual stores, while all brands will have a presence in the next 2 years on the platform. The platform also employs 10 people with plans of hiring, and will come under a new company called Mahindra e-Market, a wholly owned subsidiary of Mahindra & Mahindra. It currently lists 400 Mahindra products and services, out of which over 40 of them include vehicles, real estate, gensets and bikes, which will be ordered online and be delivered with the help of Mahindra’s dealer, distributor and logistics partners.
It will initially focus on B2C, with plans to expand to B2B as well later. Its partnerships with other e-commerce marketplaces like Flipkart and Snapdeal will continue, according to this Mint report. M2all will also offer group companies and external sellers e-commerce technology such as online catalog management, payment integration, digital marketing and data analytics among others.
Last month, The Mahindra Group appointed Jaspreet Bindra the Group Senior VP for Digital Innovation and Ecommerce. In his new role, Bindra would be responsible for implementation of digital technologies, especially an ecommerce framework for Mahindra’s auto division, two wheeler business and other consumer facing businesses.
In the same month, RBI granted “in-principle” approval to 11 applicants for payments banks, from 41 applications that it received, of which Tech Mahindra was one: It operates a pre-paid payment instruments (m-wallet) known as “MoboMoney”, which is an NFC based mobile wallet solution from group company CanvasM. TechMahindra, in April, launched NFC based payments for ICICI Bank.
Mahindra Retail: In February, Mahindra Retail had acquired BabyOye for an undisclosed amount. In December last year, it was reported that Mahindra Partners the emerging businesses arm of the Mahindra Group was in talks with Nest Childcare Services (which operates Babyoye) to acquire the company. Subsequently in March, Mahindra had said it would integrate its entire e-commerce business into Babyoye.com.
BabyOye acquisition; Mom&Me plans: In March, Mahindra Retail planned to integrate its entire e-commerce business into Babyoye.com. Mahindra Retail already had a presence in the physical retail market through its Mom&Me chain, and its online store momandmeshop.in would be discontinued after being integrated with Babyoye. Mahindra would add 50 Mom&Me physical stores in the next fiscal. Mahindra Retail had acquired BabyOye in February this year.