myZingo launches B2C shopping portal buytheprice.com
Buytheprice is an online B2C shopping portal that is built on research of consumer behavior and cutting edge technology - E Commerce 2.0. This is the first time in India that E-commerce 2.0 has been used in an online shopping portal.
Tweet-- myZingo e-commerce services Pvt Ltd launched its flagship offering www.buytheprice.com in the city today. Buytheprice is an online B2C shopping portal that is built on research of consumer behavior and cutting edge technology - E Commerce 2.0. This is the first time in India that E-commerce 2.0 has been used in an online shopping portal.
With E-Commerce 2.0, buytheprice plans to introduce a completely new concept of online "social" shopping along with providing a fast, easy and secure shopping experience. The site will provide enhanced value proposition to the consumer and give him more reasons to choose online shopping over physical shopping.
Using E-commerce 2.0, buytheprice can track the demand for a product. The higher the demand for a product, the lesser the price becomes. The advantage of this is that an individual consumer benefits from many others who intend to make the similar purchase. This revolutionary technology would help map the real time demand and supply which can offer better savings for the consumer.
Speaking on the occasion, Mr. Ranjith Boyanapalli, CEO, myZingo said "The objective of our company is to penetrate the non-travel online shopping space in India, which has a very huge potential and few well established players.
Web 2.0 has been around for sometime, where the community contributes to the content. In simple words, an internet user benefits from the contribution of some other user whom he may or may not know. Until now, web 2.0 was used in ecommerce to the extent of product reviews and ratings. It has not been used truly in the sense of one user benefiting from the transaction of another user. Buytheprice.com does this through what we term as ecommerce 2.0.
Our tagline „YOU make it happen‟ reflects our philosophy where YOU (read customer) is a major dimension like products and prices on the website. We have seen good response to our pre-launch activities and also on our blog and social websites."
Another important aspect of buytheprice.com is the use of twitter as one of the customer care channels. Customers can make enquiries and raise tickets by tweeting on @btpcare, which is also a first in India.
Currently the website has the 10 best deals that span across categories, where one can be assured of the best price on the product. Later, it would scale up with dedicated 10 deals for each category, as and when the demand is shown by the people. Rather than taking an approach of opening a portal with thousands of SKUs, buytheprice.com prefers to start with fewer but very effective deals and scale up.
Buytheprice.com plans to make online retail a true and serious alternative to physical retailing the next time anyone wants to buy. Buytheprice has a variety of products ranging from electronics to apparels to home appliances with a growing product line.
Notes to Editor
About myZingo:
myZingo, incorporated in December 2009, is an independent organization floated by passionate individuals who have the ability to make a difference and the Zingo to go beyond.
Their objective is "to be the leading Indian online retailer by 2014 by capturing the 1100cr non-travel online shopping space through a revolutionary ecommerce 2.0 portal."
Keeping the "customer" at the centre, myZingo would build offerings that would bridge the gap in all aspects and make online retail a true and serious alternative to physical retailing. Currently funded by Founders Capital, they are also actively looking to raise funds and have initiated talks with a few investors.
myZingo is founded by Ranjith Boyanapalli, who formerly headed the eTail SBU at eYantra Industries Ltd and is a name associated with the online retail business in India. Tharachand Suryadevara and Jagdish Kothapalle, co-founders of myZingo come with an IT expertise.
