Cross-border Mogul, Meanbuy.com, ventures into personalized items after crossing 2 lakh active users

December 12, 2022 23:35 IST | ANI Press Release
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Cross-border Mogul, Meanbuy.com, ventures into personalized items after crossing 2 lakh active users

New Delhi [India], December 12 (ANI/SRV): India's cross-border e-commerce giant, Meanbuy.com, hit the 5000 monthly orders mark last month, making November its most successful month since restarting operations post-pandemic.

Meanbuy is an e-commerce marketplace that provides customers with a truly international product range.

With constant efforts to ensure variety, Meanbuy's strategy of having something for everyone seems to be working. Since operations began in 2017, the e-commerce platform has now recorded over 2 Lakh active users, with a steady 35 per cent yearly growth in sales.

Customers have particularly taken a liking to Meanbuy's unique Wait and SaveTM concept, wherein they choose their product's delivery date, as well as the price they will be paying for their order. Meanbuy's data has found that almost 65 per cent of their customers choose to wait for a later delivery date, considerably decreasing the price of their chosen product.

International orders may be popular, but a major deterrent of customs charges and taxes is ever prominent. Customs charges account for at least 10 per cent of the cost of a parcel at final delivery in India, not to mention the ever-present risk of the product not meeting quality standards.

However, Meanbuy does not levy charges for customs or taxes on their products, and is considerably strict with quality specifications.

A global e-commerce study states that at least 73 per cent of Indian consumers shop cross-border, although many of them abandon their orders due to the high shipping price.

Sameer, Founder and CEO of Meanbuy, highlights that "The biggest problem in India is the price the consumer has to pay to actually bring the package into their home. Customs, shipping, taxes, quality issues - these aspects are major deterrents in purchasing from across the border. We intend to do away with all of this, so that our customers aren't hassled."

Highlighting the key characteristics of the website, Sameer said, "What you see is what you get. We aim to provide flexibility to the customers, without the pressures of extra costs."

Meanbuy provides delivery all over India, and each product is put under stringent quality checks, carried out by a dedicated QA team. Customers rarely report a damaged product, with the order return rate at a significantly low 4 per cent.

With the 5000 order milestone now successfully crossed, the company is looking to venture out into customized gifting options, which they say will fit perfectly with their Wait and SaveTM concept. The website will reflect a specific section and customer contact service specifically for this category, aiming to provide a smoother order and delivery process.

The Indian market for gifting goods is a USD 120 million market, and Meanbuy aims to tap into it by providing a vast range of options to its customers. With products ranging from personalized pens to elaborate frames and lamps, personalized gifting is fast gaining popularity amongst consumers country-wide.

Meanbuy's cross-border purchasing options are feeding into the ever-growing demand in India for products from all over the world. Cross-border spending accounts for over 74 per cent of total e-commerce sales in India, where over 40 per cent of the population prefers online shopping rather than traditional brick-and-mortar businesses. With the world becoming more and more accessible, consumers don't hold back in their desire to purchase from the world over.

Cross-border e-commerce market is estimated to reach $350 billion by the year 2030. It is reported that computers and electronic accessories have been the #1 online product category in 2022, especially with the growing popularity of work-from-home jobs. Although there is a large demand, choices within India are limited, with only a few key product providers in the Indian online market.

Meanbuy's Wait and SaveTM concept has a gripping story. Cliche as it may seem, the idea was born in a coffee shop, during a casual meeting with friends. Sameer claims that his only lookout was to fill in the gaps in what seemed to be a flawless system of shopping online, which he decided was the lack of choice in price options.

Operations began a few months after this discussion, with limited products and a small team, and at the end of their first year of functioning, Meanbuy was dispatching a mere 50 orders per month. However, when the global pandemic hit, all growth was disrupted, and in fact, Meanbuy's operations ground to a halt. However, with new company practices and product offerings, the number has now grown 100 fold post-pandemic.

Meanbuy provides a vast product range that includes electronics, home decor and fashion. With over 20,000 products listed on the website and a flexible pricing system, Meanbuy promises to provide cross border shopping with no hidden costs.

For more information, please visit - (https://www.meanbuy.com)

Contact us on: contact@meanbuy.in or +917093427583

This story has been provided by SRV. ANI will not be responsible in any way for the content in this article. (ANI/SRV)


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)


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