Snapdeal is making progress in taking Indian markets online to offer sellers a robust and future-ready opportunity to grow their business by expanding their operations, a senior company official said here on Wednesday.
“In India, (just) 10 percent of the retail is in the organised sector… In the past, unorganised retail was adversely impacted by organised retail… Snapdeal built a marketplace to provide these (unorganised) sellers with an opportunity to move online in order to grow,” Rajnish Wahi, Senior Vice-President (Corporate Affairs and Communications), Snapdeal told PTI.
According to a PTI report: He said the country’s overall consumption demand is worth US$ 800 billion currently and is expected to reach US$ 2 trillion by 2025.
“Online commerce is nearly 2 percent of India’s retail and will reach 10 percent by 2025. Thus, the online market in India will be worth US$ 200 billion in the next 7 years,” he further told PTI.
On the Punjab market, he told reporters that Punjab-based retailers are the highest sellers of sports goods on Snapdeal and serve buyers all over the country.
“Some of the popular sports goods sold online by Punjab-based sellers are punching bags, badminton racquets, sports shoes, hand wraps, and home gym sets. They also sell huge quantities of safety rods and protein supplements,” Wahi told PTI.
Snapdeal has more than 5 lakh registered sellers from across India including 15,000 in Punjab, he said.
“On the buyer’s side, the e-commerce market in India is growing not only in size but also in diversity. In 2018, India’s e-commerce heralded the rapid emergence of buyers from India’s tier-II and III cities. This growth of e-commerce into India’s non-metro cities is expected to accelerate in 2019 and over the next few years,” he was further quoted by PTI as saying.
Punjab is industrially an aggressive and prosperous state and is a significant market, he said.
“It is very difficult (for buyers) to get to 10 bazaars and figure (out) what you want. What if (they) can get everything at home, get better price, better choice to return goods and exchange stuff,” he further told PTI.
The official said most of the sellers on Snapdeal are from the brick and mortar market and they are the ones who are going online.
“This is for them a new distribution channel… I don’t think we are cannibalising brick and mortar, we are actually giving them new distribution modes,” he told PTI.