Vendoo: Georgian “Amazon” Courtesy of TBC Group
Small and medium enterprises will have the opportunity to sell their products to the general population via the internet.
TBC Group has begun to develop e-commerce in Georgia. As of 2019, a new digital market platform will be established on the market that will enable the citizens to quickly purchase products from home. Small and medium enterprises will have the opportunity to sell their products to the general population via the internet.
The Vendoo online shop will be hosted under the Swoop domain, 100 percent of the shares of which have been purchased by the TBC Group. Swoop market is a well-known, online discount and sales company. It will remain a separate brand and continue its work. The existing customers will be able to benefit from the services of both brands.
“It is strategically important for us to develop e-commerce and to support enterprises in selling their products more effectively. Vendoo will consolidate all types of products, both those being produced in Georgia or imported from abroad. As for the consumer, we want to establish a valuable alternative to Amazon so that they can purchase products without having to leave the house.” says the General Director of TBC bank Vakhtang Butskhrikidze.
Vendoo will offer customers a wide variety of choices, personalized offers, and payment installments, as well as fast delivery of their ordered products and a flexible return policy. “There will be diversified products: first of all we will start with gadgets. We will have price categories, including cheap products, but this doesn’t mean bad quality; maintaining quality is important for us in all product categories.” – says Vendoo project manager Amiran Sherozia.
The digital trading platform will help entrepreneurs grow their businesses, which will in turn support them in increasing sales, receiving trade funds, and gaining online marketing. Any entrepreneur can put their products on Vendoo; they will have a ready to use online platform and storage as well as a proper logistic service for online trading. “"As for financial terms, it will depend on the turnover and the products that the businesses place on the online platform." says Amiran Sherozia.
The Vendoo team consists of 40 employees of various professions: experts, technicians, marketing specialists, logistics, and those from quality assurance. They work in directions that enable TBC group to create a Georgian alternative to Amazon.
The online shop platform is not planning to stop there; According to the Vendoo project manager the plan is to also reach international markets in the future: “We will first start in Georgia, growing our business and the amount of sales. Then we will see what the potential is to establish this platform in other markets. If we decide to enter other countries, we will of course use the same platform and technologies”.
E-commerce is one of the largest growing sectors in Georgia. It is continuously in higher demand against the backdrop of modern technologies. The new platform Vendoo will make it easier for the customers to purchase products while simultaneously supporting business development.