The Tata Group is ramping up efforts to make a significant presence in the online market, so much so that the conglomerate is looking to catch up with rivals like Amazon and Walmart.
According to a report in Bloomberg, Tata Group is building an all-in-one e-commerce app for its consumer products and services. The prototypes, which consolidate all of the group’s consumer-facing businesses and existing online assets, are ready and a launch is expected by the end of 2020 or early next year, said sources.
The Mumbai-based group is stepping up efforts to have a significant presence online in a market where internet users are forecast by Cisco Systems Inc. to reach 900 million by 2023. Almost all of them use smartphones to watch streamed content, shop and pay for purchases.
Tata is also seeking to catch up with rivals such as Amazon.com Inc., Walmart Inc.’s Flipkart and Reliance Industries Ltd.
The all-in-one app, reported first by the Financial Times, wants to capitalise on the scope and scale of the Tata Group that also manufactures cars, air conditioners, smartwatches and tea. It operates luxury hotels, airlines, utilities, an insurance business, departmental stores and a supermarket chain. In addition, it owns brands like Tetley and Jaguar Land Rover and runs Starbucks in India.