India’s retail sector, which is at present approximately Rs 56 lakh crore will reach Rs 138 lakh crore by 2025. Online shopping, which is today about 2-3% of total retail, will grow to 10% of overall retail by 2025. Hence, the online market in India is likely to be worth Rs 14 lakh crore in the next 6-7 years, from current levels of approx Rs 2.8 lakh crore.
Fast Growth of the Value-conscious Segment
While ecommerce in India is about a decade old, the early buyers were mainly from the high-income group, who shopped for big-ticket items like mobile phones, large appliances and branded goods.
With the steady fall in the price of smartphones & data (Internet), buyers from middle-class India are coming online in massive waves. These next 400 million online buyers are very diverse in terms of their aspirations, where they live, the media they consume, languages spoken, frequency of online purchases and levels of disposable incomes. They are also starting to buy online and look for value-for-money choices similar to what they buy in bazaars of India.
Given their vast numbers, the supply of value-priced selection is growing online exponentially – mirroring the selection found in the bazaars of India. This is a market worth nearly USD 163 billion and only about 1-2% of this is online, compared to the 10-40% online penetration for branded products like mobiles, electronics, etc.
Bazaars moving online
In the last two years, Snapdeal, India’s third largest ecommerce marketplace, has sharpened its focus on the needs of the value-conscious buyers in India. More than 80% of our users come from the small towns and cities of India. This market of nearly 400 million potential buyers is the fastest-growing segment in Indian e-commerce.
Snapdeal now has more than 500,000 registered sellers, who have more than 200 million listings on the marketplace. In the last two years, Snapdeal has added 60,000+ new seller partners, who have added over 50 Million new listings. This is the result of a structured well-planned, deep engagement with our seller partners in order to build an assortment of products that is relevant for our buyers. More than 70 million users visit Snapdeal every month to browse through and buy from this vast catalogue.
Snapdeal’s efficient and value-focused online marketplace allows the sellers from the bazaars & markets from all over India to list their products and sell to our customers.
Sellers: Popular Products from Rajasthan
Snapdeal has a significant number of sellers who are based out of Rajasthan. Among these, Jaipur-based sellers are the highest sellers of bed linen on Snapdeal and many seller-brands are very popular with the regular buyers, who make repeat purchases of their favorite brands.
Other popular products from Rajasthan include ethnic apparel like kurtis, skirts, and dress materials and ethnic accessories like earrings, mangalsutra and chain pendants.
Buyers: Popular products in Rajasthan
Watches, headphones, fitness bands, and bluetooth devices are popular among Snapdeal’s buyers in Rajasthan. Popular items in the category of automotive accessories include LED lights for motorcycles & bicycles, blind-spot mirrors and car protection tapes. Solar-powered fans, Inverter-bulbs and bicycle pumps are high selling products in Rajasthan. Students from across the state regularly buy books which help them prepare for various competitive exams.
In Rajasthan, Snapdeal covers all major pin codes across the state.
“Snapdeal offers buyers from Rajasthan a wide assortment of goods from all over India. Through Snapdeal, buyers get access to items from all leading bazaars of India. The growing success of textile-based and ethnic fashion products sold by sellers from Rajasthan on Snapdeal is a proof of the lasting popularity of Rajasthan’s unique and vibrant culture”, said Snapdeal spokesperson.
To help buyers pick the right product from a sea of items on the platform, Snapdeal uses artificial intelligence and machine learning to understand users’ buying preferences and showcases products that are closer to the buyer’s requirements. It also provides short videos explaining the product’s utility and key features because not all products are from recognisable brands or a product that the buyer would have seen before.
Games like ‘Spin the Wheel’ and ‘Scratch the Card’ help users find more attractive details and make online shopping fun and exciting.
Snapdeal’s growth
Snapdeal has a strong all-round topline and bottomline performance in the sector. Its revenues grew to INR 925.3 Crores in 2018-19 as compared to INR 535.9 in 2017-18, marking a sharp increase of nearly 73% in a 12-month period. Snapdeal’s transacting customers grew 2.2X and traffic surged 2.3X in the last 12 months.
Each and every product on Snapdeal is sold by independent sellers, most of whom are medium and small businesses. Snapdeal is building a better pan-India bazaar, that offers more choice, more deals, higher convenience and user-friendly policies. Snapdeal’s marketplace makes shopping fun, recreating the buzz and bargains of the bazaars of India.