LetsBuy.

com

Growth of online commerce leading to

emergence of new players
..
The dot-com boom in early 2000s saw a number of
companies being set up online with varied models.
One such new player in the space is LetsBuy.com, co-
founded by Hitesh Dhingra and Amanpreet Bajaj, that
has positioned itself as an online retailer of computers,
consumer electronics and communication products. 
..
The portal aims to be an online equivalent of an
electronics retailer. 
and is targetting an increase of 30%-40 % transactions
through the marketing initiatives.
SCOPE AND OBJECTIVE
A research conducted by Internet & Mobile
Association of India (IAMAI) about online commerce
in India shows that the purchase of computer and
computer peripherals, cameras, mobiles and MP3
players is the second largest category, after the online
travel industry and is pegged to be a 950 crore market.
It is this pie of the e-commerce market that
LetsBuy.com is eyeing. 
ACTIVITIES
The portal recently received funds worth $6 million
from venture capitalists and is targeting to close this
year with 100 crore turnover
LetsBuy.com claims to have 600 transactions
happening on the site per day and about 20,000
transactions per month. About 60% of these
transactions are done by customers and the rest are
done by small time retailers in smaller towns. 
...
The site also offers special discounts on 'end of life'
inventory sales and recently helped a camera brand
liquidate its stock of 500 cameras.
LetsBuy.com not only allows purchase of electronic
products, but like offline retailers, also stocks and
delivers the product.
This model of business gives the customers the option
of paying on delivery and not everyone who buys from
the site needs to have a credit card.duct.
..
The site deals mostly in branded electronic products
and customers get one year manufacturer warranty on
every purchase.
While currently, the site provides only a shopping
option, going forward, customers can also look
forward to check out product reviews by technology
experts before making their purchase decision.