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E-commerce company mjunction Services on Tuesday launched a shopping portal hoping to capture 30% of market share in online retail trading.
"Though the country's e-commerce business is still very small compared to those in the US and the UK, it is growing at a rate of 40 percent year-on-year with the 400 million young population being the main driver," mjunction managing director Viresh Oberoi said.
"We expect to be one of the first two players in the B2C (business-to-consumer) segment with about 30 percent market share," he said during the launch of the site.
The portal, www.straightline.in, is a 24-hour platform made available in collaboration with Cognizant and IBM, which will offer top brands in a wide range of products from apparel to jewellery, home appliances to mobile phones and books to computers.
Oberoi said the portal would act as a "total fulfilment provider" covering various stages of service, including delivery, to customers and would have a return and demonstration policy in future.
However, Oberoi could not give an offhand estimate of the size of the B2C market in the country.
