What started as a simple vision was transformed into reality. This is how Snapdeal’s journey began in 2010. Today, it stands as a testament to innovation and resilience. Inspired by the giant Chinese online marketplace Alibaba.com, friends-turned-business partners, Kunal Bahl and Rohit Bansal ventured together into entrepreneurship, wanting to adopt the model for the Indian market and managed to give India one of its earliest unicorns.
In 2019, the value of the e-commerce segment in lifestyle retail was four billion U.S. dollars in India.The value is likely to grow to 20 billion U.S. dollars in 2026 and reach 40 billion U.S. dollars in 2030. With a major boom in the Indian e-commerce sector, fueled by tech innovations, smartphone adoption, and internet accessibility, research suggests that the number of online users are likely to increase manifold in the coming years.
At present, Snapdeal has 40 million+ Monthly Active Users (MAUs) with over 550 million + Monthly page views and an exclusive focus on value selection. 95% of the products sold are priced below Rs 1,000 and today, more than 90% of the sales on its platform are from high-margin lifestyle categories such as fashion, home and general merchandise, beauty and personal care. It is interesting to note that more than 77% of the revenue is coming from repeat customers and 86%+ of orders from outside metro cities.
Better Understanding Of The Customer
An important part of any business venture has always been a keen focus on its target audience and since the e-commerce market has expanded, each segment has become significant to make a business successful. Snapdeal focuses on understanding its customers’ preferences, needs and shopping behaviours. By focusing on value-conscious shoppers, the platform tailors its offering to create a seamless experience.
Pricing It Right
When a customer enters a shopping mart, he/she plans to shop basis their pocket allowance. This means that when a customer joins Snapdeal in an online shopping journey, they’re expecting a similar experience. To cater to the customers needs, Snapdeal provides them with an assortment of options, right from fashion to non-fashion choices. In addition to this, the pricing is such that you don’t have to think twice before making a purchase.
Offering Quality Products
The journey of Snapdeal to grow and evolve with its customers doesn’t end at affordable prices and great deals. Constantly striving for the best for its customers like you, Snapdeal has always believed in providing online shoppers with high-quality products. With a better system in place for quality checks and seller verifications, Snapdeal has managed to ensure this.
Enhancing Customer Experience
Right from the app’s user interface to the final delivery of the product, everything is seamless. By providing a personalized feed, Snapdeal has enabled easier access to the rich selection available on the platform for all its customers. It has evolved to become more efficient, engaging and responsive.
Building Power Brands
Firstly, how are power brands created? Snapdeal carries out a range of activities, starting with sharing consumer insights with sellers and manufacturers, providing guidance on product features sought by users and product packaging good practices. These brands are licensed to a select network of sellers who are capable of offering good-quality products at affordable prices and sellers manage the inventory on their own.
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