According to PTI report: In its two-day mega sale on May 11-12, Snapdeal will offer up to 70 per cent discount on categories including home, fashion and electronics.
The announcement comes at a time when the market is abuzz with reports of Snapdeal being sold to larger rival, Flipkart.
According to sources, Snapdeal is expected to sign a non-binding term sheet with Flipkart for the sale, which could potentially be closed in the next few weeks.
The last few months have seen e-commerce companies like Snapdeal, Amazon and Flipkart intensify their efforts to garner for customers and get more sellers on board.
These companies have also pumped in millions of dollars to ramp up their infrastructure and platform.
Amazon will kick off its Great India Sale from today till 14, while Flipkart will hold its Big 10 sale between May 14 – 18.
E-commerce firms see greater traffic and transactions on their platform on sale days. Flipkart, for instance, expects to see a 5X growth in number of transactions during its sale days compared to an average day.
According to a Google-AT Kearney report, the number of online shoppers in India is estimated to grow 3.5 times to touch 175 million by 2020, from 50 million in 2015.
Also, e-tailing is expected to drive 25 per cent of the total organised retail sales of US $240 billion in India by 2020, as per the report.