Snapdeal continues to be bullish on the e-commerce market in India and is focussed on offering clients exterior of metros entry to nice high quality merchandise at reasonably priced costs, its co-founder and CEO Kunal Bahl stated on Friday.
Talking on the 25th Wharton India Financial Discussion board, Bahl stated India has seen huge development in web consumer base with addition of over 500 million web customers within the final 4 years.
“Many or most of them are nonetheless not e-commerce consumers however a overwhelming majority of them are going to be e-commerce consumers. They principally come from small cities…belong to low, center to low earnings demographics they usually have a number of aspirations. In addition they have a number of consciousness because of social media about varied choices,” Bahl stated.
Snapdeal’s platform is actually constructing an expertise which is tuned to their wants and is tailor-made particularly for his or her necessities to offer merchandise inside reasonably priced value factors however of nice high quality, he added.
“It has been a unstable 12 months (2020) all over the place on the earth and in India with the lockdowns and provide chain points, and so on. However within the medium to long run, we nonetheless proceed to be extraordinarily bullish concerning the e-commerce market.
“We really feel that within the medium to long run, there will probably be a big behaviour change and that can result in vital acceleration in e-commerce,” he stated.
Bahl famous that there was an acceleration in adoption of e-commerce in smaller cities because the number of merchandise obtainable is commonly restricted in offline retail.
“These audiences are taking to e-commerce sooner….We’re additionally seeing a big cohort of recent sellers who’re coming on-line from smaller cities…
“So we have seen pretty vital tectonic plate shifts occur this 12 months. Nonetheless, the impact of these will fully be seen perhaps a 12 months or two down the street,” he added.