Vedanta Aluminium’s Metal Bazaar Sees 35% Increase in SME Users Amidst Growing Digital Buying Trends

2024-11-23 05:00:34 Industry

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New Delhi, November 5, 2024: Vedanta Aluminium, India's largest producer of aluminium, announces that its e-commerce platform, Metal Bazaar, is making significant strides in transforming the buying behaviour of small and medium enterprises (SMEs). In just six months since its launch, SME users have increased by 35%, and active users have surged by 240%.

With no purchase limits or caps, Metal Bazaar provides businesses with direct access to aluminium in the quantities they need, eliminating third-party intermediaries, which is particularly helpful for small and medium enterprises (SMEs). This streamlined, one-stop solution is enabling smaller businesses to focus on growth rather than procurement complexities. This impressive growth underscores a broader trend among Indian businesses towards adopting efficient, transparent, and digital procurement solutions.

Recently, the platform successfully launched a WhatsApp chatbot for customers. This user-friendly chatbot lets customers quickly and easily access essential information such as free balance, dispatch details, etc.

The platform aligns with the evolving needs of Digital India by providing seamless access to high-quality aluminium products. Its intuitive interface and innovative features have particularly addressed the procurement challenges faced by SMEs. By streamlining processes such as instant orders, price locking, and real-time shipment tracking, Vedanta Metal Bazaar is transforming traditional sourcing methods and enabling businesses to focus on growth.

The platform's success is evidenced by the 100% adoption of key features like price booking (LME hedging), ledger (financial reports), and dispatch visibility (live shipment tracking and documentation). This widespread uptake demonstrates the strong demand among Indian aluminium consumers for digital solutions that simplify complex, traditional processes. Since January 2024, Vedanta Metal Bazaar has generated more than 150 leads, including 45 for exports.

Speaking about the remarkable performance of the platform, Sunil Gupta, Chief Operating Officer (COO), Vedanta Aluminium, said, "Vedanta Metal Bazaar is not just a platform; it's a revolution in how aluminium procurement is approached. Our solution simplifies the procurement journey and adds significant value to our customers. The strong adoption we're seeing is a testament to the platform's alignment with the evolving needs of businesses of all sizes in India, and we remain committed to enhancing it to serve our customers even better."

Vedanta Metal Bazaar has achieved unmatched customer satisfaction, with ratings reaching more than 4.3 on a scale of 1-5. This success is driven by the platform's unique AI-enabled features which offer real-time monitoring, full transparency and control. The platform also boasts near-100% adoption of key modules like price booking for market protection, ledger for real-time financial access, and dispatch visibility for live order tracking. These enhancements are not only elevating customer experience but also improving operational efficiencies, reducing the sales team's daily working hours to less than half, and allowing them to focus on other strategic priorities.

Vedanta Metal Bazaar offers a host of advanced features, including:

Mobile access with a user-friendly interface, pioneering in the non-ferrous metals sector.
An innovative 'agreement tool' that simplifies complex negotiations.
AI-powered spot ordering and live shipment tracking, a first in the metal industry.
No restrictions on material purchase quantities.
QR-based product authenticity checks and integrated feedback systems.
A trusted panel of finance and logistics partners for smooth procurement processes.
Streamlined workflows for all customers, from large enterprises to MSMEs.
Easy access to Restora, India's first low-carbon 'green' aluminium range.
A single-window interface to engage with Vedanta's quality, technical support, product application, engineering, and innovation teams.
Opportunities for technical upskilling through the centre of excellence, featuring collaborations with research institutes, industry associations, and global experts.

Vedanta Aluminium, a business of Vedanta Limited, is India's largest producer of aluminium, manufacturing more than half of India's aluminium i.e., 2.37 million tonnes in FY2024. It is a leader in value-added aluminium products that find critical applications in core industries. Vedanta Aluminium ranks 1st in the S&P Global Corporate Sustainability Assessment 2023 world rankings for the aluminium industry, a reflection of its leading sustainable development practices. With its world-class aluminium smelters, alumina refinery and power plants in India, the company fulfils its mission of spurring emerging applications of aluminium as the 'Metal of the Future' for a greener tomorrow.

About Vedanta Aluminium Business:

Vedanta Aluminium, a business of Vedanta Limited, is India's largest producer of aluminium, manufacturing more than half of India's aluminium i.e., 2.37 million tonnes in FY24. It is a leader in value-added aluminium products that find critical applications in core industries. Vedanta Aluminium ranks 1st in the S&P Global Corporate Sustainability Assessment 2023 world rankings for the aluminium industry, a reflection of its leading sustainable development practices. With its world-class aluminium smelters, alumina refinery and power plants in India, the company fulfils its mission of spurring emerging applications of aluminium as the 'Metal of the Future' for a greener tomorrow.