Snapdeal flips business model to target 'value-conscious consumers’
21st July 2021,Mumbai:
Homegrown online marketplace Snapdeal has flipped its business model to target the value-conscious consumers.
The development comes against the backdrop of the SoftBank-backed company shelving a $950-million merger plan with rival Walmart-owned Flipkart in 2017 and consolidating its entire business, including laying off more than half its workforce and selling key assets such as mobile wallet business Freecharge to Axis Bank and logistics
arm Vulcan Express to Kishore Biyani’s Future Group. This is in sharp contrast to other online retailers in India such as Amazon and Flipkart that have set high gross merchandise value (GMV) and fat margins as benchmarks to measure success.
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To cater to the lower end of the market, Snapdeal has used its resources to build capabilities to provide depth in assortment and optimise its supply chain to reach remote areas.
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