by Satrajit Sen
by Satrajit Sen
Ecommerce service provider SociaLinked has launched GiftCardsIndia.in as an online aggregator of gift vouchers and certificates in India. The company has also appointed Firoz Khan, former vice president of operations, FutureBazaar.com, as co-founder and COO for GiftCardsIndia. Launched on February 21, 2011, the website houses gift vouchers, gift certificates and coupons from Indian retailers and service providers like Ferns and Petals, Adidas, John Players, Baskin Robbins, Lakme, Pantaloons and others.
Speaking to AlooTechie about the objective behind launching GiftCardsIndia.in, Cory York, founder and CEO, SociaLinked, said, “Our online store is just the first launch of one of our sales channels in our multichannel approach to being the largest gift card aggregator in India. The idea of the online store is to allow consumers and corporates from all around India to shop and buy gift cards from hundreds of retailers, brands and service providers in India. It’s also our key marketing tool for our SuperCard which is targeted to both consumer and corporates.”
Explaining about the website’s three-pronged business model, Cory York said that the company’s intermediary model adapts to the merchant’s current gift voucher program. “This is usually for the larger and more established brands like a Shoppers’ Stop or a Future Group. Our second model is the creation model. Most small and medium sized companies do not have a gift voucher program running and hence we have come up with a technology that allows us to create the entire program and help the merchant take part in the selling channel. We work on a percentage of share model in both creation and intermediary models,” Cory York said.
“The company’s core focus area is the third model which is called the GCI (GiftCardsIndia) SuperCard. We believe it is a revolutionary product for the Indian consumer, corporate gifting and incentive markets. The GCI SuperCard is a universal gift voucher allowing recipients to choose from any brand in our extensive catalogue. GCI SuperCard product is the perfect solution for corporate incentives and gifting. This is a large market in India and it’s something we can jump right into,” Cory York added.
Speaking about other initiatives of SociaLinked, Cory York said that the company is currently working on the third online store for Croma, and has also signed up with Globus to launch their online store by the end of March 2011. “Another big, upcoming launch in the pipeline is Aditya Birla’s The More Store which will take place shortly after the Globus’ store goes live,” York added.