Bizpluss.in, a cloud startup in B2B commerce, announced their China expansion plans during this year’s Canton Fair. Many Chinese OEMs, ODMs, and brands graced the event. The idea of building a cloud based mechanism to allow direct entry of Chinese products in to the retail ecosystem in India received welcoming appreciation at the forum.
Yasharth Verma, executive director, Surpluss.in said, “In the economic value chain of the electronics retail market in India, almost 10% goes to the intermediaries. This limits the growth in demand and scale of some products.” He also mentioned that Bizpluss addresses this core problem of the market to set the right price balance in line with global price parity indices.
Bizpluss China is all set to open doors for a whole new world of opportunities to the Chinese suppliers. Businesses using the new marketplace will experience an insightful self-directed, self-help platform, which allows them to post offerings and monitor sales performance in a live environment.
The new platform already hosts about 50 brands. Moreover, the company is planning to reach 100,000 retailers in phase 1. The company has already partnered with brands like - Philips, Lava, White Westinghouse, LG, Samsung, Vola, Haier, and Electrolux.
Furthermore, to help distributors, Bizpluss.in is also working with leading financial institutions to create new payment channels. Verma added, “The biggest challenge for disrupting this chain in India was the distributor finance. We have tied up with one of the leading banks in India for the co-branded Bizpay card to get the retailers financed from the bank directly.” The organization is also aggressively pursuing new initiatives like Pluss Wallet with a Mobile First philosophy.