Rocket Internet’s price comparison website PricePanda has today launched in India, one of the fastest growing and most promising economies in the world in a move to create full price transparency and enable customers to make well informed purchasing decisions.
According to Christian Schiller, co-founder of PricePanda, “In 2012 the number of Indian retailers opening an online shop rocketed from 100 up to 600 and is tremendously growing since. Now it is our task to guide our users through the different offers to the deal that best suits their needs. At the same time, our platform empowers e-commerce businesses with helping them to convert their offerings into sales.”
Schiller is optimistic about the launch because e-commerce in India is currently booming similar to how it was in Malaysia where the site first operated there in 2012.
“Today´s launch takes us a further step towards our goal of providing full price transparency to people all around the globe and will be a great contribution towards the Indian transition from the traditional offline market to a modern online community,” Schiller added.
Founded in 2012 by Christian Schiller and Louis Iskandar and currently available in Argentina, Colombia, India, Indonesia, Malaysia, Mexico , Singapore, Thailand and the Philippinesas an Android and iOS app, PricePanda allows users to find prices, information, ratings and reviews for the best and latest products on various online shops.
PricePanda’s listings include computers, software, health and beauty, home appliances, music, games and many more to allows customers compare different deals for certain products so as they can make informed purchasing decision. Clicking on a deal will redirect the user to the merchant´s online shop where the product can be ordered.
India launch follows Price Panda’s successful launch in eight countries in South East Asia and Latin America throughout 2012 and 2013.
According to the firm, Indian E-commerce is starting to become more apparent, as already 3 out of 5 Internet users are shopping online. In addition, India´s demographic structure is also in PricePanda´s favour: 98% of the online shoppers are between 18 and 45 years old and the absolute Internet penetration in India is even higher than in the USA. Moreover, M-commerce in India is performing well, with three quarters of the entire Internet traffic deriving from mobile devices. Along with the increasingly affluent Indian middle class grows the purchasing power and makes India to one of the most flourishing and auspicious markets.
PricePanda will take on PriceBaba, Reviews42.com, MySmartPrice.com, Junglee.com, and FindYogi.