JSW Group to Create Online Marketplace for Building Materials
Business Line reported that JSW Group plans to expand online marketplace for building related products including steel, cement and paints. Sources close to the development said “JSW Group will remodel its earlier initiative of integrating the sales of Group products under JSW One into an online market place and will invest about INR 500-700 crore to roll out the e-commerce venture with a renewed focus taking the current offline distributors. The online marketplace will tap both the business to business and individual consumers and cross sell products riding on the stupendous growth in online sales due to increase in smartphone and mobile penetration.
In the B2B space, JSW One will not only offer e-commerce marketplace for small and medium size steel product manufacturers but also provide access to quality steel material and facilitate online transactions, order fulfilment, tracking and inventory management, besides giving much needed credit. For individual home builders, it will offer one stop solution to source the requisite steel, cement and paint for construction besides providing qualified contractors, masons, engineers, architects, painters under one single integrated e-commerce platform.
JSW Group is also exploring strategic collaborations with other non-competing branded building material products such as sanitary ware, kitchen and home accessories with a view to offer a holistic shopping experience for its home building consumers.
JSW One platform will also rope in influencers in the home construction industry including contractors, masons, engineers, architects and painters and enable them to grow their respective businesses. It will integrate all influencer loyalty programmes currently offered across its steel, cement and paint businesses under JSW One. This apart, influencers will have access to up skilling, better access to credit, tech enabled project management solution and generate more business opportunities.