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Kredence launches a social buying site GroupByte
By siliconindia
Mumbai: A digital media and solutions company, Kredence, have launched a unique social buying site GroupByte. The site provides a inimitable platform for the consumers to get their wished brands at a discounted price.
The demand of high-end aspirational products such as automobiles, television, air conditioner, computers and automobiles are at a soaring high despite of inflation, Kredence came with an idea to presents a platform of negotiation for the consumers to purchase these products at a much-discounted rate from the market. It runs on a group bargaining feature, where in when they get a considerable number of requests for a particular product, their sourcing team takes these orders to the concerned vendors for bargaining.
The entire business runs on two platforms, one to get a bulk order for a particular brand product or make a good mutual relation with the brand itself, so that they can attain a considerable amount of deduction to fulfill the aspirations of the modern Indian consumer. They currently function on three-aggregation platform. First being the 'Wish Lists' where in the consumers can record their wish product from the five categories available and leave the process of negotiating and obtaining best prices to GroupByte. "Individual buyers do not have the ability to negotiate their purchases with their wish brands or have to rest on the discount offers provided by the retail vendors from time to time. GroupByte helps them to get their wish fulfilled at much lower price than they would get during the sale as we bargain for a large number of products with the brand," says Ketan Raiyani, Director, Kredence.
The second being the 'Bargain Corner' through which the consumer places order for a specific brand product at a specific price. The relation team then works on it to see if the price mentioned can be attained or not. If not, then they contact back the consumer to reach to a deal price and tries to finalize the rate with the vendor. "GroupByte aims to offer the benefit of negotiated purchases to the buyers by bridging the gap between impulsive purchase and planned purchase, which most social buying sites do not provide," says Raiyani.
'Bag The Deal' is the third platform, which works on pre-negotiated prices, wherein the bargain is all about the logistic cost with the vendor when they go with a huge number of deals to them. Raiyani says, "GroupByte also aims at benefiting the SMEs in terms of better purchase price. Even if they come with a considerable amount of order, they get the benefit of large discounted prices. We play the role of a 'Procurement Manager' for individuals and businesses alike."
Currently with strength of 12-15 employees, they pull in needs of various people and address then for benefit. The differentiations that GroupByte provides over other such sites are that they do not have lower limit of members in a group to be eligible for getting discount.
Along with GroupByte, they have HealthyOn, which was launched 8 months back which provides a platform for the consumer to interchange data directly with their doctor and even set an appointment. "The next decade will bring massive growth in the internet sector in India, supported by highly favorable demographics growing Internet-broadband penetration, 3G networks, growing income levels of the consumers, noticeable pick-up in tech gadgets and mobile culture will play important role in boosting our market and we have to come up with fresh new ideas to reach them," says Raiyani.
