The State Bank of India (SBI) has launched its own e-commerce marketplace. However, it is not for the general public but only as a value added service for its card holders. This is a new development and is indicative of banks and other similar establishments putting their focus on the rising field of eCommerce.
The website looks like a standard ecommerce website and lists products in different popular categories like Electronics, Footwear, Apparel, Computers, Mobile Phones, Jewellery and others. The store is powered and operated by eCommerce company MartJack.
Since it is an exclusive marketplace for SBI card holders, there are some attractive discounts on electronics and mobile phones. It is not a bad idea for banks to provide popular products for their customers online, especially when it comes to exclusive debit/credit cards. This will be convenient for the customer and will also generate sales for the bank since they control the financial operation.
Online sellers should definitely take note of such developments. One of the best way to grow your online sales is by diversifying and never putting all your eggs in one basket. If there are newer marketplaces cropping up around the country, it makes sense for you to study them and see if they would fit your criteria. The process of selling on the SBI marketplace is not clear as the ‘Seller’ link of the profile seems to be dead. It would be helpful to connect with the MartJack team to figure this out.
Do let us know what your thoughts are on this development.
Website | SBI Marketplace