Having first begun with a single format store in 1979, then growing up with presence in multiple shop-in-shop formats, fashion retailer, HM Megabrands has now added online retail as its new sales channel to reach its customers.
Mumbai based retailer, HM Megabrands has recently launched its online retail venture i.e hmmegabrands, “Our loyal customers have been regularly providing us feedback on category expansion, geographical presence as well as channels of sale… Extending into the online retail space with our flagship Webstore presence is a natural growth progression, and we feel that the timing is right,” said Hashim Merchant over the launch of the online store.
HM will be focusing on the Fashion category, Footwear is the leading segment, especially in the women section. However, footwear for men would soon be available on the online store. Bags and apparel are also available on the web-store.
The store currently lists over 500 products and is expected to add 2000 products by the end of this year.
Within a week of its launch, HM has already managed to get 300 orders with average ticket size being between INR 1000 – INR 1200 with 1.6 – 1.8 items being purchased on every order.
It is charging INR 50 extra on cash on delivery and is offering free shipping on orders above INR 500.
As HM was already offering its products via various online marketplaces, thus as per the company this has given them a good head start in terms of brand recall with its own ecommerce venture.
Speaking on the overall growth plans for the brand, Hamza Merchant said, “As part of ongoing process, we will consistently increase the range of our in-house Brands and take them across borders into International markets. HM will also increase its Physical Store count at strategic locations basis feedback from our customers online. Clearly we will have to scale up our warehouse presence regionally to enhance efficiency in our supply chain network. We expect the multi-channel approach to add tremendous value and learning in our next phase of growth.”
As it has been only a week since it had launched its online operations, the company declines sharing how much revenues etc. it expects to earn from the eCommerce platform.
To manage the backend to support this eCommerce initiative HM has partnered with GreenHonchos and Martjack as a shopping cart technology.
In the coming time, the company will be deploying all effective marketing channels in the digital space and eventually scale that across traditional marketing platforms as well. Its eCommerce partner GreenHonchos will be driving the strategy and execution of its marketing and promotions.
HM, Femme & Funkytown are the 3 brands under the HM Megabrands canvas.
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