Online marketplace Snapdeal was once quite a name. It used to give competition to companies like Flipkart and Amazon. However, over time, Snapdeal lagged behind in this race. In such a situation, the CEO of the company has taken a big decision. Under which the e-commerce company has made up its mind to stop selling expensive items. Instead, the company will now focus on the value e-commerce segment.
Snapdeal Founder and CEO Kunal Bahl told TOI, “Over the years, we have focused very sharply on the value e-commerce segment and our strategy is to build for this segment going forward. We are very clear about the customers we serve and they are primarily ‘value buyers’. So we will not sell very expensive items or expensive brands.”
People of small towns and villages will get benefit
Snapdeal has used its resources to build capabilities to scale up its supply chain to reach remote areas. Bahl said, “A large part of the country, especially very small towns and villages still do not get door-to-door service through e-commerce. When you are selling an item on an average of Rs 200-400 with no delivery charges to buyers, it is important to engineer and optimize the supply chain.” It is to be known that Snapdeal recorded a revenue of Rs 864 crore in FY 2020, which is slightly higher than Rs 839 crore in FY 19.
Initiatives for women
Snapdeal has launched an online program to help women-led small and medium businesses (SMBs) in the country to digitize their operations and bring them online. For this, she has signed an agreement with FICCI Ladies Organization (FLO). Year-round training will be provided to FICCI women members, artisans and NGOs at its 17 regional centers in India. In this Snapdeal will organize online trainings, workshops and involve them in online selling.
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