Technology firm eInfochips on Thursday launched its MagNet initiative designed to attract developers who are building e-commerce portals based on the Magento platform.

 

Under the MagNet initiative, eInfochips will contribute extensions to the Magento community for advanced online store functionality. For developers who use the extensions, eInfochips software engineers will be available to fast-track integration of the extensions, or for other e-commerce software engineering, the Ahmedabad-based company said.

 

eInfochips is kicking off the MagNet initiative by contributing the ‘Deal 4 U’ and ‘Deal 4 U Categories’ extensions to the Magento community. The extensions are designed to help retailers increase conversion rates for deal seekers.

Magento is a flexible and scalable open source platform for building an online store with a range of e-commerce capabilities. Owned by eBay Inc., Magento has over 800,000 community members and is the preferred platform for 26% of Alexa one million sites. 

According to Forrester research, 53% of online shoppers in the USA are deal seekers, and spend over $2,000 annually on the internet. Statistics also suggest that 91% of in-store footfalls are influenced by online promotions. The first two contributions from eInfochips under the MagNet initiative will improve productivity for promotional campaigns, and reduce dependency on coupon-sites for deal uptake.

Retailers can also automate schedules for customized daily offers and showcase countdown timers to drive in-store footfall, said Parag Mehta, Chief Marketing and Business Development Officer, eInfochips.

eInfochips is a product innovation partner recognized for technology leadership by Gartner, Frost & Sullivan, NASSCOM and Zinnov. It has contributed over 500 products for top global companies, with more than 10 million deployments across the world.

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