TBC Bank Group to Develop Electronic Commerce on the Georgian Market

TBC Bank Group is planning to develop E-commerce in Georgia. Soon, the Georgian market will host a new digital trade platform which will give customers the opportunity to shop online in comfort.

Within the scope of the project, TBC Bank Group is initiating a new online shopping mobile application ‘Vendoo’, which is planned to be launched in February 2019. The presentation was delivered by the CEO of TBC Bank Group Vakhtang Butskhrikidze and TBC Bank Group CIO Amiran Sherozia on December 11.  

The idea of creating this app came from the strategy of TBC Bank Group to make the life of its customers easier, take into account their demands and meeting them with high-quality services.

The brand new ‘Vendoo’ app, which Sherozia noted will not be a typical retail, but more of a market sale, will be based on the already existing company ‘Swoop’, recently purchased by TBC Bank Group.

‘Vendoo’ will offer a wide variety of products within different price ranges, personalized offers, deferred payment method, rapid delivery of purchased items and a flexible return policy. The delivery service will cover the entire country, meaning even customers in rural areas will be able to use ‘Vendoo’.

The primary goal of this large-scale and innovative project is to boost e-commerce in Georgia and supply clients with high-quality products.

The given initiative will be interesting for small and medium entrepreneurs, as they will be able to distribute their products to Georgian customers online. The digital trade platform will support entrepreneurs to enlarge their businesses, ameliorate the rate of sales, obtain trade funding and produce online marketing. Placing the products will be open to every entrepreneur, as they will have a ready online platform and stock, and well-organized logistics for electronic trade. The only expense for them will be the costs of their products and distributing them to the main warehouse of the company.

E-commerce is one of the fastest growing areas in Georgia. Within the modern technology conditions, it is a highly in-demand service. The new digital platform will facilitate the shopping process for customers on one side and boost business development on the other.

Aside from ‘Vendoo’, TBC Bank Group is planning to launch other major and ambitious projects, go beyond the borders of Georgia and reach up to 10 million customers by 2022.

By Ketevan Kvaratskheliya