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Kredence Unveils Social Buying Platform GroupByte


May 6, 2011 - Mumbai, Maharashtra, India


Novel e-commerce venture enables group buying in the ‘planned purchase’ category, benefiting consumers with best bargains even on high-value ‘aspirational’ products. Simulating negotiation and bargaining in the physical world in an online environment, GroupByte will bring phenomenal cost savings to individuals and SMEs alike.

Digital media and solutions company Kredence has today announced the launch of GroupByte, a unique Social Buying platform that allows individual buyers to get significantly reduced pricing on some of the best known branded products.

As demand for high-end aspirational products- consumer electronics, home appliances, automobiles, to name a few- continues to soar with the increasing prosperity of an average Indian, GroupByte aims to address a sizeable portion of this demand and help fulfil aspirations of the modern Indian consumer.

GroupByte provides consumers with an aggregation platform where each individual consumer can record their requirements and wish lists for products such as Automobiles, TVs, Air Conditioners and Computers and leave the process of negotiating and obtaining best prices to GroupByte. Essentially, these requirements empower GroupByte to negotiate on their behalf and deliver the benefit of reduced pricing for larger order size.

“Until now, individual buyers did not have the ability to negotiate their purchases with the brands they wished to buy. They were almost always forced to opt for discounting deals offered by major retailers from time to time, to make their purchases cost-effective,” says Ketan Raiyani, Founder of Kredence.

“While the benefits of Social Buying is now well recognized in the "impulsive purchase" category manifested in the proliferation of ‘Daily Deals’ sites, we believe that thus far, there has been no effective mechanism to offer the benefits of group buying in the "planned purchase" category. GroupByte aims to fill this gap and offer the benefit of negotiated purchases to the buyers.”

According to the company, GroupByte can benefit SMEs as well who can use the GroupByte platform to procure products in smaller quantities but still enjoy the benefits of large discounted prices. GroupByte thus becomes a professional ‘Procurement Manager’ for both individuals and businesses alike.

“The group buying scenario has not really embraced all facets of buying behaviour,” adds Ketan. “GroupByte is a totally differentiated offering where consumers are able to buy products of their choice at a price of their choosing as well! We truly unfold the Magic of Many.”

On the occasion of its launch, GroupByte invites all consumers to "Enjoy the best... at a price that does not kill your zest !!"

About Kredence

Kredence is a digital media and solutions company that aims to unleash the full potential of Internet and mobile technologies to improve lives. Kredence is committed to innovating and introducing practical new ideas for the new digital world we live in, contributing to happier consumers and more profitable businesses. Founded by a team of entrepreneurs and professionals from diverse backgrounds and rich experience in the realm of Internet-based products and services, Kredence is led by Ketan D. Raiyani, an entrepreneur who was responsible for starting and scaling up of Taxsmile.com, a pioneer in online tax filing services in India. The Taxsmile founder made a successful exit in favour of 3i Infotech Limited in 2010.

Source: Business Wire India

BusinessWireIndia

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