After getting huge success in business by availing Oyo rooms coupons to customers to enjoy a budget stay in hotels, Oyo plans to start up its online marketplace that would be known as “Oyo Bazaar”. This would be a single stop destination for hotels to procure daily essentials that are mandatory to run business and drive customer loyalty and attractive margins in an online market.
When market will get mature, partners would look for more support from another partner they are working with. Here, we want to clear one thing that this is not an e-commerce Company but it would be preferred suppliers for our associated partners.
According to Oyo head, this concept would not only help in retaining our partners but assure good profits for our partners in the long run. Hotel partners would be able to enjoy attractive discounts on daily essentials up to 25 percent that is quite enough to attract more people in our online marketplace.
We have a network of more than 6000 hotels as of not and it is surely expected to expand soon in near future. You would not believe but this is true that overall profit margins for each business have been expanded up to 20 percent or more after joining hands with us.
Till the time, we have earned good customer loyalty and margins with our services like Oyo rooms coupons or promo codes etc. but we need to grow continuously to get even more successful in future. If services are not updated at regular time intervals then this is just impossible to survive in the market without any innovative business idea.
We have already signed 10 vendors to supply daily essential at the certain discount at the low market price. They will not only maintain quality but products will be delivered on time as required by clients. Our logistics partners would take care of logistics itself and business partners don’t have to take tension for all of these essentials.
Further, Company is also planning to provide loans to hotel partners to improve their services and quality standards in near future. On this matter, we are already in talks with a financial officer. Oyo bazaar was started in March 2016 and services were available for Delhi and Gurgaon hotel partners only. Soon, we are planning to cover all hotel partners across India by end of the year.
In beginning, our offered product range would be kitchen appliances, sanitary wares, crockery etc. With the passage of time our product range will surely expand, the CEO said.
