Snapdeal Grows 300 Percent in Six Months, Shipping Over One Million Packages Per Month Across India
Snapdeal charges ahead as India’s leading e-commerce site; announces an expansion of its logistics platform, SafeShip, to 4,000 towns across India, 20,000 small business sellers, and 25 participating courier services
Today, Snapdeal, the fastest growing e-commerce company in India, is announcing that it is on track to cross $500 million in top line revenue, and is set to hit $1 billion in 2014. Over the past six months, the company has grown 300 percent and now has over four million products listed from 20,000 merchants on the Snapdeal website. Since launching just three years ago, Snapdeal has become the largest and first pan-Indian online marketplace for businesses to sell directly to consumers, with a suite of products and services that are ushering India into a new era of high-trust online commerce.
Snapdeal is changing the lives of small business owners throughout India, leveraging an innovative asset-light approach to e-commerce previously unavailable to the industry. Snapdeal has differentiated itself by focusing on logistics -- building platforms to support fulfillment centers, shipments and, in the near future, payments -- serving as a trusted entity in an otherwise highly fragmented market. By rolling out such ambitious platforms, Snapdeal makes selling goods to a customer 1,000 miles away as easy as a local transaction.
Snapdeal has pioneered a number of products to bridge the trust deficit and make both buyers and sellers in India more confident in online commerce. For example, earlier this year, Snapdeal launched SafeShip, an order fulfillment platform for sellers. Today, Snapdeal is announcing that SafeShip is now available throughout the entirety of India, allowing sellers to confidently ship anywhere in the country for the best price and service possible. SafeShip guarantees both delivery from sellers and payment from buyers through an innovative payment-upon-receival system. With SafeShip, Snapdeal has revolutionized shipping in India, with 100 percent of its sellers using the service and over 80 percent of all packages shipped within 24 hours, compared to 25 percent prior to SafeShip.
The e-commerce company is also at the vanguard of m-commerce, as India turns towards greater use of mobile phones. Today, Snapdeal is continuing its leadership in the mobile space by enabling SMS-based price search, which allows anyone with a mobile phone to access the site and ensure that they can see the best prices and deal on any product, regardless of their phone type. Due to such innovations, Snapdeal now sees 30 percent of all Snapdeal orders placed through mobile phones -- which translates to 10X year over year growth for the company.
“We see India’s e-commerce market as a 30 to 40 billion dollar opportunity in the next 10 years. However, the challenges inherent in making this vision a reality do not lie in managing assets and inventory -- instead it is a lack of trust, from both buyers and sellers, primarily due to the fragmented nature of logistics in India that must be addressed. At Snapdeal, we’ve set our sights on building platforms that integrate the thousands of small business sellers and multitude of shipping services, into a single streamlined offering that just plain works,” said CEO Kunal Bahl. “By creating new ways for small businesses to guarantee delivery and payment, along with a sound courier network, we are changing the lives of over 20 thousand business owners across India as well as providing access to the aspirations of millions of Indian consumers.”
To learn more about Snapdeal’s newest services, visit: www.snapdeal.com/info/SafeShip
Snapdeal.com is one of the fastest growing e-commerce companies in India. Launched in February 2010, the company features a wide range of categories from thousands of national, international and regional brands and retailers. The company is over 1200 people strong and is the largest e-commerce retailer of watches, sunglasses, jewelry, perfumes, personal care, restaurant vouchers, among other categories in India, delivering to over 4,000 cities and towns in India. 1 out of every 7 Internet users in India is subscribed on Snapdeal, and the company is adding over a million new subscribers per month.
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