NDTV which as speculated was to enter the eretail world, has finally marked its presence in the segment with the launch of its own ecommerce website Indianroots.com.
The website went live two weeks ago and is currently in a beta version.
Talking with iamwire, Rahul Narvekar, CEO, NDTV said that without marketing for the website (blog) we have already got more than 4 lakh+ visits so far highlighting the popularity of the category among the people. Or may be the result of deep pockets of NDTV media group and high hopes in ecommerce.
Indianroots was live since past few weeks with a blog, proving a good way to promote the website prior launch. In a recent development, NDTV has also brought in Ogilvy India, for promoting the website across the media channels.
As speculated the portal has come out with ethnic wear collections from Brands, Boutiques and Designers and plans to target both Men and Women. It also includes accessories and home & living under its collection. It currently lists 9 designers, 10 brands, and 3 boutiques which we expect to be expanded soon.
For now, there are only 600 products that are listed on the website and are expected to increase more in the coming time. On average it has started getting 80 orders a day (past 2 days) with an average ticket size of USD 242.
The products listed on the website are targeted towards elite Indian and NRI audience as is clear with their quite high price tags. This will surely be a bet by NDTV as a brand to test its trust among its potential customer for Indianroots.com, luring them to make a high ticket size purchases. The site clearly highlights the portal to be a NDTV venture though they have come out with an altogether new brand URL.
This will be a big test of the current NDTV Ecommerce wing CEO Rahul Narvekar too, who was the man behind the initial success story of Fashionandyou, but the difference will be the obsessive flash sales model of FnY versus the skill to sell high ranged ethnic wears online. Though the key remains merchandising in both case.
Utsav fashion, another pioneer player in this space, in operations since 2003 and had really become really active for its ecommerce portal Utsavfashion.com since last 2 years, believes the key in this model is variety and customization, where customization plays a major role.
The total market size of ethnic wear is claimed to be more than INR 7,000 Cr+ and out of which INR 100 cr+ of revenues were done by Utsav Fashion from ecommerce FY ending in March 2013.
Now with the entry of one more player it surely presents a more matured competition and further shift of purchasing behaviour to online. Also this is one category where showrooming can act in a reverse direction as customers can browse through heavy selections online and reach out to their favourite designers to purchase it offline.