Business Online Pvt Ltd, launches an Indian Social Commerce portal; OWNOW, aimed at revolutionizing the online shopping...
Business Online Pvt Ltd, launches an Indian Social Commerce portal; OWNOW, aimed at revolutionizing the online shopping in India with growing Social Media users. OWNOW believes, that Shopping in India is always a Social activity – like, shopping during wedding and festivals.
In the year 2013 there were 86.7 million social network users in India, this number is expected to touch 197 million active users by 2017. India, the second largest smartphone market globally, is estimated to witness tremendous growth in the number of smartphone users, to be around 650 million in the next four year. With such massive population of India able to access internet and various apps over the smartphone, e-commerce industry is undergoing an exponential growth. Also, this vast population of internet users combined with social network users has given birth to a new segment within e-commerce: Social Commerce. Augmenting potential of the online retail in the country today is pushing many growth opportunities for the business.
OWNOW is the brain child of Alok Barua (Graduated in CS in year 1997) and the brand believes, that – Social commerce is primarily about product discovery and promotes the concept of social shopping, that is unique in every sense and offers a galaxy of varied range of products thereby enduring a novel shopping approach to the buyer at a mere click. Social shopping here definitely promises to make available to Indian customers, the best products that the world has to offer. This is an initiative in the country, to democratize fashion and mainly rely on home grown talent to create a homogeneous Indian brand.
OWNOW Social commerce refers to involvement of social media in e-commerce at levels of social interaction and user contributions in online buying and selling of products and services and also rate, recommend or follow the latest trends. The term social commerce. Social Commerce is a new tool being used in online retail models or marketing strategies that incorporates social networks and/or peer-to-peer communication to drive sales.
The USP of Ownow.com is Shop for over multifold Indian Stores at “one” place and the portal aims to house designer brands from India in the forthcoming months. The products that will be available at OWNOW are relatively exclusive and plenty of each are imported for the entire country. Unique features like Product Discovery, Follow – (Store, Brand, Category, Friend or Fellow), Suggestion Board, Shop Together, Social Feature (Like, Review, Share), create your own Trends Boards or follow other’s Trend of similar taste, Common Wish List (Save and Share) and various Discount Coupons, and make OWNOW different from others in the industry.
OWNOW’s motto is to develop high levels of user engagement by rewarding users with virtual money/points – which can redeemable on buy the several of products and coupons of Online and In-Store. The company has developed beta version of its social media shopping platform “OWNOW.com”. It intends to create digital stores in metros and Tier-1 cities across India. Multiple options to shop and reliable payment gateways, makes OWNOW, a single ended destination for all customers. Shopping at this portal will include varied collection of modern, contemporary, ethnic, festive and travel bags and accessories available on social media. These inimitable collections will endow the consumer with a gamut of handbags, apparels, electronics, accessories, & footwear options.
It’s a self-funded company and raised a seed fund for technology set-up. The list of Board of Advisory at OWNOW.com includes the name of Mr. Ajay Menon – COO of Motilal Oswal Group, Mr. Sameer Arora – Partner, Lakhani & Lakhani & member of the Institute of Chartered Accountants of India & Mr. Siddharth Mehta Founder and CEO at Syndrome Technologies Private Limited – Syndrome is leading System Integration Company and active in Business vertical like IT Infrastructure, Data Centre Build, Networking & Computing, Data Security, Collaboration and Managed Services.
The vision of OWNOW.com is to reach the apex of the online retail business in the years to come. Mr. Alok Barua, CEO & Founder of Ownow.com, asserts, “There has been a shift in Indian consumers’ growing interest in shopping online through social media as there is a huge untapped market for great-quality, uniquely-designed and rightly-priced, Indian& international brands”. “We provide great products, unparalleled choice and with our unique concept, customers will also get themselves the best buy at affordable prices”, he concludes. Shopping is generally a socially visible behaviour, frequently done while accompanied by friends or family. Understanding the growing significance of social shopping in India, Ownow.com ensures that they provide their customers with an easy yet delightful social shopping experience.
ABOUT OWNOW.COM –
With a team of 15 people, OWNOW.com is currently affiliated with about 150+ Online Stores and Brands in India with than 2 Lacs Products from 40+ Categories and are in a process of getting more stores and brand affiliated. Multiple options to shop and reliable payment gateways, makes OWNOW.com, a single ended destination for all customers. Augmenting potential of the online retail in the country today, is pushing many growth opportunities for the business.