Wal-Mart Stores Inc, US-based world's leading retailer, has forayed into the business-to-business (B2B) e-commerce space in India with the launch of its virtual store (www.bestpricewholesale.co.in).
The portal will exclusively target the members of Best Price Modern Wholesale (BPMW) stores, the Wal-Mart India's cash and carry operations in the country.
The online shopping opportunity featuring an assortment of products and certain special items is currently being extended to its registered members in Hyderabad and Lucknow markets only.
Commenting on the launch, Krish Iyer, president and CEO, Wal-Mart India, said the initiative is aimed at enhancing shopping experience of their members by integrating physical and digital store presence. "We at Wal-Mart are continuously innovating to bring in member satisfaction and our B2B e-commerce platform is just one of several such initiatives. It (virtual shopping) represents an additional channel for us to serve our members better and help them save money as it comes with the added convenience of ordering online, door-step delivery within 24 hours and several payment solutions," said Iyer.
A series of workshops training and educating the members were organised by the Wal-Mart India team in Hyderabad and Lucknow before opening the e-commerce platform for business.
The retailer's cash and carry business in India is a B2B format and services only registered members including resellers, kirana shop owners, hotels, restaurants, caterers and offices and institutions.
Wal-Mart, which started the first wholesale store in Amritsar in May 2009, currently owns and operates 20 stores in nine states across India. In April, the company's top management had said it will focus on the wholesale format and had chalked out an aggressive growth plan to enhance its India footprint. It plans to add 50 such outlets over the next four to five years, taking the total to 70 stores by 2019-20.