New Delhi, | 14th November 2019: The transformation of e-commerce on the back of increasing digital adoption has completely changed the shopping experiences of consumers. However, this came with its own set of challenges for both retailers and shoppers. For instance, heavy commissions charged by leading online marketplaces followed by a delay in settlements of cash payments significantly add hassle to a retailer’s online journey, further killing the fundamental objective of a fair marketplace. Similarly, issues such as product counterfeiting come as a huge spoiler for shoppers and drive them away, even from their favorite brands. This is where game-changing concepts like Digital Mall of Asia (DMA) comes into the picture.
DMA, a unique amalgamation of ‘digital malls’ and ‘digital shops’ coined by the founders of Yokeasia Malls, aims to create a virtual mall environment for consumers to shop online from various retail outlets, get access to a hypermarket, order food, watch a movie, and much more. It’s a new-age concept that is designed to run on a zero-commission model, enabling retailers and vendors to rent a shop in their desired city, tower, and floor. Not only will they be able to integrate their offline stores to a revolutionary e-commerce portal, but also be granted exclusive rights to sell a particular product category or brand in their respective cities. This feature will come as a huge relief to retailers as it will help eliminate artificial hyper-competitiveness – a common concern still visible on various e-commerce portals.
Most importantly, retailers will only be required to pay a fixed rent of as low as INR 10,000 for operating in this unique portal while staying relieved of paying any extra commission, mostly charged by major e-commerce players at 5-35%. This will further enable retailers to sell products at the cheapest price points possible, and thus improve their profitability – making the entire shopping journey even more affordable and welcoming for end customers. Similarly, since shoppers will be allowed to check the product thoroughly after receiving it, the routine issue of large-scale counterfeiting can be eliminated and consumers can make the final payment, only when they feel fully satisfied.
Rishabh Mehra, Managing Director, and CEO, Digital Mall of Asia said, “We are extremely excited to go live on January 2020. With our state-of-the-art, never-seen-before features and offerings, we are certain to bring transformation in the Indian e-commerce space. In fact, concepts like DMA seems to be a necessity for most retailers and shoppers in our country, who are currently facing several e-commerce concerns like product counterfeiting and artificial hyper-competitiveness. Our aim is to address such challenges and make the overall selling and shopping journey safer, fulfilling and seamless, for retailers and shoppers, respectively.”
DMA is expected to completely transform the Indian e-commerce space. Besides offering retailers a safe investment platform to sell items and get attractive returns, it will largely enable shoppers to take control of their data, which is gone missing at the moment. With all these advanced tech-driven attributes, DMA will not only ensure convenience and safety but also an overall seamless shopping and selling experience to customers and retailers across India.
