After, extensive market research on the Indian footwear market, they has explored the immense growth potential of the segment. With this move the company aims to minimise the gap between the wholeseller and retailer with the help of web technology.
The online wholesale cash and carry division intends to leverage the gaps in the existing distribution network of the industry. The objective is to present to the numerous footwear retailers with an option which empowers them to do their sourcing at their convenience. They can now have access to even those brands which have no representation in their area. The retailers and distributors, also stand to benefit from the bulk buying capacity offered by Bigshoebazaar.com and avail of best margins in the industry along with free delivery. All this will help the retailers to move on to the Just in Time management and also to improve the stock turnover.
“Cash and Carry” is defined as a wholesale operation through which retail operators purchase goods in large quantities from the manufacturer or buying groups and then sell these goods to their retail customers. They accept low net profit margins, in return for high-volume sales, and thus are able to keep costs to a minimum.
On the account of initiating the business model, Manmohan Agarwal, director, said, “By using this model, we would be able to take all the brands and all their products to every market we reach and enable retail footwear to aggregate supply on aggregate demand. We will try to serve all tire I, tire II and Tire III cities through this division.”
“The concept has been modeled on the lines of the markets in advanced countries where online business has penetrated retailing in a big way. This concept is being tried out to bring footwear manufacturers and retailers onto one platform. Online transactions take away a lot of hassle and is already a multi-million dollar business in the West,” he said.
Bigshoebazaar.com started in 2007 as an online portal for business-to-customer footwear retailing in 2007 and has 68 clients including Lotto, Columbus, Bata, Reebok and more, with a portfolio of 10,000 designs at a given time.
They are also tring to empower various footwear brands to set up their online B2C Exclusive Brand Outlets (EBO’s) and shopping portals. The company is also a online wholesale cash and carry partner to high street footwear retailers through its B2B portal – bigshoebazaar.biz.
Bigshoebazaar is also a multi-brand footwear retail chain with walk-in-retail stores which are operated through franchisees and partnered with footwear and accessory suppliers to expand the product range.