Mumbai: The B2B industry is the backbone of the large Indian retail sector and which is the critical part of the supply chain for the entire e-tailing ecosystem. Over the last decade the e-tailing sector has come a long way in gaining consumer confidence and trust. The leading e-commerce players have gone above and beyond in the race to achieve this and to shorten the gestation period of the business. However this has come at a cost and the B2B sector has alleged that, to an extent, the cost is being borne by their industry. The monopolizing of the market through predatory pricing and heavy discounting has led to this particular segment feeling the pinch. In its wish-list for Union Budget 2019, the B2B industry has appealed to the Government for bringing in reforms in the e-commerce space to realign the industry’s goals to the entire ecosystem than to just benefit the e-tailers.
Excess2sell – India’s leading B2B online marketplace for specializing in liquidation of overstocked, unsold inventory on behalf of its industry has requested for the Government’s urgent attention to the regulatory policies in the e-commerce space. Ahead of the Budget, it has appealed to the Finance Ministry to reassess the regulatory framework to help e-commerce grow organically based on positive, genuine parameters and not on a discount driven model.
“Although e-commerce in India is still in its growth stage and the market will evolve in its own unique way, the same holds true for the regulatory requirements as well. As one of India’s leading e-commerce companies in the B2B domain, we hope that the Union Budget will address issues specific to e-tailing. Presently heavy online discounting, predatory pricing, preferential treatment to select sellers or monopolizing of the market is rampant and unchecked. This is creating an imbalance across the whole partner and fulfilment ecosystem affecting both online and offline B2B businesses,” Mr Rajan Sharma, Founder & Chief Executive Officer, Excess2Sell.com.
The excess inventory Management Company is the country’s largest networked online marketplace with over 26,000 registered partners. Excess2Sell provides solutions to the 50 million strong B2B businesses in liquidating its overstock and has a reach of over 200,000 B2B businesses and has mobilized over $12.3 million worth of excess inventory till date.
“Since we serve both sides of the B2B space, we understand there is an urgent need to address the concerns. As a platform which is neutral to both sellers and buyers, we feel confident and hope that the Government will make changes in the policy framework to help e-commerce grow organically based on positive, genuine parameters and not on a discount driven model which eventually will hurt the overall ecosystem,” concludes Mr Sharma.