wordpress blog stats
Connect with us

Hi, what are you looking for?

Justdial to launch B2B sellers platform JD Mart soon

Justdial’s B2B e-commerce platform JD Mart will be launched soon, company executives said on an investor call on Monday for the company’s Q3FY21 earnings report (quarter ended December 31, 2020). Retailers, distributors, and any kind of B2B supplier will be able to list their products on JD Mart, and also avail of hyperlocal, national, and international logistics services.

Justdial’s operational revenues fell 28% YoY to ₹169.5 crore in the quarter, traffic also fell over last year but improved marginally over the previous quarter. However, monthly monetisation levels stand at 80% of pre-COVID-19 levels.

The company plans to hire for sales and expects headcount to rise in next quarter, since India has largely reopened and local trains have recommenced in Mumbai. “We have been accused of being a profit obsessed company, there will be a change in the categories. We will be more invested in our products and invest in marketing in the coming months,” founder and CEO VSS Mani said on the earnings call.

Pricing and targets for JD Mart

Pricing of JD Mart packages will depend on category and geography, Justdial CFO Abhishek Bansal said. In Tier 1 cities, packages will start from Rs. 25,000, the unit price for each inquiry will be lower. A basic JD Mart subscription will provide a business with a comprehensive product catalogue, a JD-verified stamp depending on qualification, and an assured number of inquiries for amount paid. Even though some vendors are willing to spend much more than others who may be very localised or industry-specific, the company is starting with one standard offer price to begin with.

VSS Mani said that key interest is to have every B2B vendor to participate in this marketplace. There can’t be too much convergence in short-term, but we should have significant numbers of paying B2B vendors. 

Advertisement. Scroll to continue reading.
  • JD Mart is solving a problem of many B2B vendors looking at a more effective way of promoting and distributing their products. As the product progresses and JD Mart starts catering to a business’s needs, adoption rate should be much higher and it should result in commercial gain for us, Mani said.  
  • It’s not just about reaching out to businesses, but capturing every detail about the products in every possible way, as much content, photos, videos, minimal order, quantities, price, etc. 
  • Vendors will typically invest in making sure that they get leads. Businesses are willing to spend money because that is the bare minimum to grow their business, but we have to ensure that we offer value to them. 

Ad spends and campaigns should improve traffic in future

Justdial traffic fell by 15.6% YoY to 132.6 million unique visitors, but improved 1.5% QoQ. The company only spend Rs 80 lakh in last quarter on advertisement spends, most of which was spent in December. The decision to limit them was not due to COVID-19 impact, instead, the company wanted to align ad campaigns around JD Mart’s launch. “We are working on new ad creatives, revamped campaigns for JD overall and campaigns for JD Mart will be coming soon,” Bansal said. In this quarter, 50% of traffic came from Tier 1 cities and the rest from Tier 2 & 3 cities. Tier 2 & 3 cities contributed to 30% of revenues, and 55% to paid campaigns. Organic traffic are now at higher levels compared to pre-COVID by 8-10%.

Justdial-IndiaMart dispute: In November, IndiaMart obtained an ex-parte order from the Delhi High Court, where the court said that the JDMart should not have any third-party proprietary content. Bansal said there is no restriction on launch of JD Mart, whose app and website are being developed; since the platform is yet to be launched, there is no question of commercial exploitation having taken place. Bansal said there has been no copyright violation, and that it will become clear after JD Mart launches.

Earnings Call Video

Also read

Written By

I cover health, policy issues such as intermediary liability, data governance, internet shutdowns, and more. Hit me up for tips.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

News

By Stella Joseph, Prakhil Mishra, and Yash Desai The Government of India circulated proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 (“E-Commerce Rules”) which...

News

By Rahul Rai and Shruti Aji Murali A little less than a year since their release, the Consumer Protection (E-commerce) Rules, 2020 is being amended....

You May Also Like

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ