Ecommerce has emerged as a strategic player for the Godrej Group as they move towards their Vision 2020 target. Godrej Group wishes to achieve tenfold increase in their business volumes within a span of ten years.
Within five years, Godrej wants nearly 6-8% of its sales coming through the e-commerce channels against the current rate of 2-3%. With strategic talks already underway with established e-retailers such as eBay and Flipkart, Godrej is working towards expanding its outreach and setting a viable fulfillment solution in place. Apart from this, there are a couple of Godrej-owned ecommerce portals which are already functional.
Currently, their ecommerce channel sales still rank in single figures. Godrej is likely to focus on their appliance segment which has registered Rs 2,600 crore as its annual sales turnover. Also, Godrej Tyson Foods which sells ready-to-cook and fresh chilled chicken is growing at an annual rate of 16-18 percent will be promoted heavily online. As of now, Godrej is working on setting in place a feasible doorstep delivery of its Godrej Tyson Foods. Furthermore, Godrej has tied up with all major food e-retailers for further promotion.
By revealing its ecommerce strategies, Godrej has taken the step forward to become a vital player in the ecommerce segment. Indeed, this foray was inevitable as most FMCG majors have already forayed into the e-retail market space,