Inspired by Alibaba and likes of it, TATA Group is now venturing into e-Commerce space. It plans to enter the eCommerce space with the marketplace model. The model has been made successful by Alibaba.
This model is being followed in India by Flipkart, Amazon India and Snapdeal. According to the article in Economic Times , this initiative will be led by Tata Industries Ltd, a fully owned subsidiary of Tata Sons.
Tata already operates an e-Commerce site for its consumer electronic business Croma. However, this marketplace model will allow any vendor to sell on the platform. This is similar to what Flipkart or Amazon does in India.
The article also states that Tata has already started hiring people and enrolling vendors for the marketplace. Allured by the potential of e-Commerce space in India, many Indian companies are planning online retailing forays.
This is a trend that we are observing in the country since recent times. This only reaffirms the faith in the e-Commerce space in India.