Buildabazaar.com is an e-commerce Saas platform built by Infibeam with operations in India and Middle East. The technology infrastructure of infibeam.com was extended as an e-commerce platform and launched as buildabazaar in 2011. It is a self-service platform where users can create an e-commerce store, upload their product catalog, customize their site and sell their products. Buildabazaar is offered as a SaaS platform for creating online retailing websites and travel booking sites.
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History
The e-commerce technology infrastructure of Infibeam was built with an intention to be extended to others. Vishal Mehta, the CEO of Infibeam, was quoted saying "from day one, the strategy was two-pronged... the technology platform that powered the portal would be rented out to various brands." Prior to launching buildabazaar.com, Infibeam built online stores for Hidesign, Prestige and Crossword using its ecommerce platform. The platform was then modified to allow any merchant to set up an online store and it was opened up for public as buildabazaar.com in May 2011.
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E-Commerce Platform
Buildabazaar is a cloud-based ecommerce platform, which allows users to create an online retail store. The platform provides tools, called as 'widgets', to customize the appearance of the store and an administration panel for managing inventory, orders and shipments. Buildabazaar also provides integrated payment gateway and tie up with logistics providers. Buildabazaar has also extended its ecommerce platform for travel agents to build travel booking sites for flights, hotels, buses and car rentals.
Business Model
Buildabazaar is offered as a SaaS model with monthly subscription fees. The Silver plan at Rs.1000 per month supports up to 300 products while the Gold plan at Rs.2500 supports up to 5000 products and the new plan is also available for Rs.5000 named as Gold plus. The platinum plan offered on request basis doesn't have limit on no. of products. The platform allows retailers to sell Infibeam's catalogue of 12 million products in addition to their own products. Infibeam pays 1 to 1.5 per cent commission to the retailer for all Infibeam products. The website also allows anyone to create a free trial store for 15 days.
The merchants who sign up for buildabazaar are given exclusive access to be a part of the controlled marketplace of infibeam.com. A program called 'IGNITE' was launched in 2014, by which merchants would get traffic from infibeam.com through 'Buy' button link-off on Infibeam product page.
Reception
India
The platform, launched in May 2011, is reported to have reached 1000 stores in December 2011, 10,000 stores in April 2012, 13,000 in July 2012 and 18,000 stores as of February 2013. Major companies like Apple, Airtel, Adlabs Imagica, @home, Britannica, Bombay Dyeing, Crossword, Hidesign, Prestige, Spice Mobiles, The MobileStore, Vijay Sales, Infibuy Retail and VIP have created online stores using Buildabazaar's platform. A survey done by MySmartPrice in May 2012 revealed that 45 of the top 343 e-commerce stores are built using Buildabazaar. The total value of transactions on the platform is claimed to be over Rs.500 crores as of February 2013. Buildabazaar was awarded 'The Game Changing Idea of The Year' Award by The Economic Times at ET RETAIL AWARD 2014 and Won E-Commerce platform provider of the year award by Frost & Sullivan at India ICT Awards 2016
Middle East
The platform was launched in the Middle East region in 2014. Major retailers like Axiom Telecom, Jumbo Electronics and Eros Electricals have launched online stores using buildabazaar platform.
Source of the article : Wikipedia
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