Online retailer Snapdeal to expand product basket
By Shubhangi Bidwe
17 May 2019
E-commerce major Snapdeal is looking to expand its product basket by expanding its seller base to cater more customers. The e-tailer will continue to focus on Tier II, III cities for growth in the Indian market. It has however, no intention to enter the private label business as it would harm the interest of registered sellers on the platform.
The company has strengthened its seller base by getting onboard 50,000 new sellers during the last financial year and currently has a seller base of around five lakh across the country. Sellers from Delhi and Gujarat make up a large chunk of the seller base for the e-commerce company which sells products in around 600 categories. Most of the sellers on Snapdeal are from the brick and mortar market and have witnessed strong growth online over the years.
Snapdeal offers free registration to sellers and charges 5 to 20 per cent commission from them. On the back of strong sales, Snapdeal had narrowed its losses during the fiscal year 2017-18 to Rs 613 crore ($87.6 million) from Rs 4,647 crore it had posted the previous fiscal.