- Meenakshi Kumar |
Online merchants want Snapdeal to clear their payments. Till then they have stopped selling on the e-tailer’s website. Snapdeal has seen 30 per cent of its total sellers leave the platform over the last year. The online marketplace claims to have 3,00,000 sellers. But a significant chunk of them are not active, and a majority of business for the e-tailer comes through only 50,000 sellers.
Snapdeal says it works closely with seller partners to provide them access to a huge market, data-driven analytical support and access to comprehensive logistics and payment solutions. It says strong and robust engagement with sellers helps it conduct business operations in a reliable and frictionless manner.
With e-commerce firms like Snapdeal facing a cash crunch, non-banking financial companies are on tenterhooks about their loan recovery from online merchants who sold on these platforms. The overall pending recovery from these sellers is estimated at about Rs 900 crores.
The online group of sellers is one of the most vocal on social media channels, raising concerns against e-commerce companies. The mounting troubles at Snapdeal are making stakeholders jittery. Axis Bank has asked a group of Snapdeal sellers to clear their loans, failing which the bank will be forced to stop their overdraft facility.