10mn traffic in nine months
10mn traffic in nine months. LatestOne.com, a Hyderabad-based e-tailing company owned and operated by Palred Online Technologies Private Limited is...
City-based e-tailer aims to dominate tech accessories market
LatestOne.com, a Hyderabad-based e-tailing company owned and operated by Palred Online Technologies Private Limited is set to dominate the market of accessories for tech and mobile products which currently is the largest and the fastest growing segment in the e-commerce space.
The e-commerce space has been attracting a lot of attention in the recent years, while the industry in 2014 was reported to be in the range of Rs 30,000 crores of which over 2,000 crores was tech product accessories such as mobile and tablet cases, chargers, cables etc. The company exclusive to tech accessories attracted more than 10mn visitors in a short span of nine months since its inception in August 2014.
The traffic on LatestOne.com also grew manifold from 3,000 visitors and less than 100 orders per day in the initial two months to one lakh visitors and 2,500 orders per day. Speaking at a conference, Ameen Khwaja, CEO LatestOne.com said, "LatestOne.com is all set to re-define the e-commerce business model in India.
As a practice we sell from our own store and inventory to ensure customer satisfaction. We assure timely delivery and maintain high quality standards in our design, contract manufacturing and offer warranty and even replacement for products purchased from our site. So far, we have seen less than two per cent refunds and replacements. "
Adding to this Palem Srikanth Reddy, Chairman LatestOne.com said, "In the coming months we plan to introduce innovative solutions and increase our reach across the country. We will be building new warehouse to meet the increasing demand. We aim to reduce the delivery time from three working days to two working days, from the time the order is placed.
We are confident that Latestone.com will revolutionise the e-commerce space by its specific offerings and product portfolio." The site carries more than 1000 different types of cables, 3,000 different designs for mobile and tablet cases, 50 different models of power banks in its own warehouse/store that they operate from Hyderabad.