According to market research, the Indian retail market size is expected to reach US$1.7 trillion by 2026 from US$883 billion in 2020.
Over the last decade of the e-commerce revolution, we have seen the success of online marketplaces such as Flipkart, Amazon, Myntra, and Big Basket.
These rigs have become a household name for India in all major cities and even in remote places.
In the evolving dimension of online marketing, even lenskart has come up with a revolutionized approach to selling lenses and glasses online.
A few years ago, who thought of selling medical products like eyeglasses that can be sold online? It was hard to believe that people could even buy medical equipment and medicines online, but now it has become possible.
Indian Industrial Lubricants Market was $1.54 Billion in 2019 and is projected to reach $1.91 Billion by 2027. According to GfK Automotive Engine Oil Retail Census Study conducted across 94 cities (population > 5 lakhs), the annual lubricants market in India is estimated to be 130 million liters.
This represents sales from approximately 93,000 automotive retail stores across the country. Due to the high number of vehicles in major cities, nearly 80% of the estimated market is in Tier 1 cities (population >10 lakhs).
Even in ever-changing online marketing approaches, new e-commerce solutions have been brought in to facilitate the shopping experience.
A recent effort of this type has been undertaken by Lubkart to make lubricating oil cost effective and practical by delivering engine oil, hydraulic oil, coolant and grease etc. at people’s doorsteps for automotive and industrial use.
The growth of India’s automotive and industrial sector has become exponential and has skyrocketed the consumption of lubricants in India.
Most lower-middle to upper-class households have transportation vehicles such as bicycles and cars.
The number of small and medium-sized factories with machinery has increased several times in the banner of Indian startups.
In the traditional approach, we had to go to a local garaz or auto service center or gas station to change the oil in our vehicle.
Even for industrial lubricants, small business owners should approach local dealers or distributors for their lubricant needs.
In the evolving online market, Lubkart is trying to take a similar approach to the motor oil field to reduce costs between end users and manufacturers and deliver lubricants to doorsteps without any hassle.
Since Lubarkt only sells branded lubricants, people trust the brand even if they buy online. The trust of the brand is to guarantee the quality, a quality replacement.
Rameshwar M Paswan has created an online marketplace to provide consumers with the best quality lubricating oils at cost effective rates. He is the founder of Lubkart.