JSW Group, $12 billion business conglomerate, is planning to venture into online marketplace for building material by investing Rs 500-700 crore to roll-out the e-commerce venture. As an e-commerce player, JSW Group will service the needs of both B2B as well as B2C customers. The Group will scale up JSW One initiative as a tech-based platform for its customers.
The Group is already a familiar name building material industry as it has interests in steel, cement and paints and its e-commerce venture will be initiated with a renewed focus on the current offline distributors.
Though the penetration of e-commerce in the home building segment is still in its nascent stage, it has high growth potential as some of the builders have managed to sell flats online during the Covid times. The platform will cross-sell products riding on the stupendous growth seen recently in online sales due to increase in smartphone and mobile penetration.
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 paints businesses under JSW One.
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.