New Delhi [India], May 19 (ANI/PRNewswire): Pass Ki Dukaan, envisages a holistic ecosystem of a hyper-local market network which will provide some leverage to small-shop owners as they resist the take-over of the Indian market by global giants.
The creation of such a network would not have been possible without the foundation laid by Marg with its previous products which addressed the fundamental issue of reducing logistical costs incurred in cumbersome daily operations such as billing, inventory management, payment, ordering, financing and other solutions, so that retailers could focus on leveraging their businesses.
Marg has identified and solved the three fundamental issues of small retailers. First, Marg, through its e-ordering app enables small retailers to digitally place orders for distributors and within a year almost five million orders worth Rs 21,000 crores were placed and these orders are bound to grow exponentially in the future.
Second, to solve the payment problems we introduced Marg payment gateway which enables payment settlement on the same day between retailers and distributors. Its success can be gauged from the fact that within a span of four months since its introduction around 15,000 distributors (out of 2,00,000 distributors) have adopted Marg Pay and uploaded the outstanding of 5,00,000 retailers.
In the future it is touted to be the biggest B2B payment platform and will process transactions worth 8-10 billion dollars as more distributors adopt it. Even top banks and payment gateways have approached to Marg to collaborate in this payment mission. This has equipped 10 lakh businesses to succeed, leading to an annual generation of 2,000 crore invoices aggregating to around Rs. 7 lakh crores. It also aims to add 2,50,000 chemist retailers in about 3-4 years.
Third, with the launch of Ship-On-Click facility Marg will enable small retailers and distributors to deliver their product within a short period of time and at a reasonable cost through top couriers companies. This became possible only because of Marg's giant base of retailers and distributors.
Marg has negotiated with established courier companies like Fedex, DTDC etc. and has digitally linked them through its eco-system to enable small retailers to deliver their product to consumers cheaply and remain competitive against the online pharmacy and fmcg companies.
Further, Marg has solved the problem of working capital by introducing small retailers to reputed companies to provide them funds at reasonable costs. Marg also provides small retailers the option of paying a small monthly premium to insure their health, life and business.
This will boost their confidence, putting them on an equal platform with big retailers. This could be materialized because of Marg's gigantic base of retailers which enables them to negotiate with the biggest companies of India and the world, and provide the best services to retailers at low costs. This benefits both the retailers and the companies, as the former gets low costs and the latter gets high-volume business. Marg's digital platform has made this possible.
Another aspect which has Marg's immediate attention is the issue of wealth management. The established management companies focus only on big businesses due to which small retailers are left out of their purview. But the cumulative investment of small retailers is astronomical.
Marg is planning to bring them together on their digital platform which acts as a single window for providing them with wealth management options. Marg believes that these innovations will help small retailers not only survive but give big businesses a run for their money.
It is not just the small businesses in the country but also its own employees that Marg looks after by reserving 7 per cent of its equity for its employees and Marg business partners. It has become the first IT company in India to give ESOP's to hundred percent of its employees. Marg truly believes that their employees and Marg's business partners are equal partners on the road to shared prosperity.
The next ambitious step is to use the 'Marg Model' of Paas Ki Dukaan a foolproof and self-sustaining model with a resilience that can survive a financial downturn to generate revenue of Rs 750 crores in the next five years. Through Pass ki Dukaan the real spirit of local hyper market is served, whereby your local retailers serve you through Marg's digitally connected platform.
We hope that in future to protect their businesses most of these small retailers will connect with Pass ki Dukaan. Marg's target is to connect with over 2,50,000 retailers through Pass ki Dukaan in next 3-4 years. The company has set its eyes on covering 70-75 per cent of the Pharma, Fmcg and other SMEs from diverse sectors across the country in the coming years. Marg firmly believes that cultural relevance of pharmacy and kirana shops and the flexibility that they provide to the Indian masses and can never be emulated by corporate entities.
The vision and initiatives of Marg are truly aligned with Prime Minister Narendra Modi's vision of 'bhar BharAtmanirat' where even the smallest shopkeeper, retailer, and distributor stands enabled and empowered to retain their customers and expand their horizons, without being overwhelmed by multi-national giants, whose allegiance rests with their own country. Marg is establishing the brand uniqueness of the Indian manufacturer, distributor and retailer, enriching the Indian economy.
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