Snapdeal enhances shopping experiences with value-oriented approach
Increasing mobile penetration has helped India expand its ecommerce market beyond metros and Tier I cities to smaller towns and villages. As per a report by EY-IVCA Trend Book 2021, the India’s ecommerce market is expected to grow at 27 per cent CAGR from 2019-2024 to reach $99 billion by 2024. Most of this growth will be fuelled by the rise of 220 million online shoppers across India by 2025.
Ecommerce growth is also likely to be fuelled by the rise of a new group of shoppers, says a report by Your Story. Mostly in their late twenties, these shoppers have varied purchasing powers and aspirations. They earlier spent most of their time scouting local stores for daily requirements. They are a part of 60 per cent households that look at shopping as a value-oriented experience.
Leveraging technologies to predict demand
These shoppers can be encouraged to adapt to ecommerce platform by offering them good quality products at affordable prices. Ecommerce platforms can also introduce these sellers to new and lesser-known brands offering budget friendly and good quality products. Shoppers can also be introduced to regional brands and unbranded products that are of good quality and reasonably priced. Earlier, shoppers visited local bazaars for making value-oriented purchases. Nowadays, this need is being met by organized retail chains like D’Mart and Vishal Mega Mart.
The online equivalent of this is being met by the New Delhi-based e-commerce company Snapdeal. For the last four years, Snapdeal has been offering best value products at affordable prices with the convenience of home shopping for customers. The platform enhances shopping experience by offering a wide variety of products at the click of a button. The use of technology helps predict customers’ demands and offer them customized products.
Disrupting notions of quality and price
Ankur Pahwa, Partner and National Leader, Ecommerce and Consumer Internet, EY says, Snapdeal’s value-focused catalogue enables customers find products meeting price and quality requirements. The platform recently launched a new campaign tilted ‘Brand Waali Quality, Bazaar Waali Deal.’ The campaign targets seeking consumers value looking for brand-like’ quality products at ‘bazaar-like’ prices. It offers products similar to those offered by popular brands at cheaper prices.
Through this campaign, Snapdeal hopes to capitalize on the acceleration in value ecommerce. It hopes to disrupt the popular notion that value and quality can only be founded in branded and expensive products.
