Justdial, one of the Biggest Local Search Engine, has started a new venture named JD Mart. It will focus on the business to business products selling activities. The company revealed the news in a regulatory filing on Thursday.
More Details about JD Mart
The company said that the customers can access desktop and mobile site through https://www.jdmart.com. Android and iOS apps are available on https://www.jdmart.com/appwc.
The company also added that JD Mart is an exclusive B2B platform for providing the best wholesale experience. It has a variety of products to fulfil business needs. Plenty of products categories make it a unique wholesale platform.
The company first talked about launching this platform on 2 Feb 2021 while discussions about the quarter 3 report of FY2021. The platform will also help the companies in providing national and international logistics solution.
When asked about the JD Mart packages pricing, the CFO of Justdial said that it will depend on geography and the types of products. In tier 1 cities, it will start with Rs. 25,000. The company will provide JD Mart subscription to give more beneficial features like JD stamp, special product catalogue etc.
JD Mart will solve one of the major problems of advertising and efficiently distributing the products. Initially, it will not get good commercial gain. With time when more products come on board, the company will find a good convergence rate.
India Mart went to court against the use of Justdial data possibly by JD Mart. The court instructed that JD Mart should not use any third-party proprietary contents. Bansal assured the court that it will not do any commercial exploitation of Justdial property. The copyright data of other companies will be untouched.
Justdial Recent Development and Future Plans
Today, Justdial stock saw a surge early in the morning. It was 6.55% to Rs 681.95. It reached a day high value of Rs 685.30 on BSE.
On 11th January 2021, the share recorded 52 weeks the high value of Rs 765 per week. It went to 52 week low of Rs 250.55 on 26 March 2020.
In quarter 3 ending in December 2020, company revenue fell 28% YoY to Rs 169.5 crore. The company also observed a marginal fall in traffic.
To overcome all these issues, the company plans to hire more sales executives to improve the performance. The company wants to allocate more budget to advertisements and different campaigns related to the promotion.
Justdial provides local search results through the website, mobile site, Android app, iOS app, telephone call and texts.