After the latest $200 million funding round, Snapdeal is pegged at $6.5 billion. The online marketplace of Kunal Bahl is all set to boost its customer base. Snapdeal has taken this step with many acquisitions and product launches to enhance the customer diversity.
Earlier this month, the e-commerce portal has turned six and it recently launched a revamped version of the website. The makeover included the redesign all over its platform such as the website and mobile applications.
The addition of ultra luxury and niche products to the portfolio of Snapdeal including the yacht worth Rs 11 crore is also a step aimed towards its growth. This is an attempt to make the marketplace rich and popular.
In the past year, Snapdeal has launched different products such as automobiles, food, products aimed at the health conscious consumers, real estate, co-branded channel on the television, loan center, and so on. In fact, the portal has sold over 3 lakh bikes in the first six months of its partnership with Hero MotoCorp. Also, it lets customers book vehicles online and handles the loan approvals in just two minutes. Soon, the vehciles from Suzuki, Mahindra and Datsun will be available on Snapdeal.
It also provides a range of food items such as beverages, jams and spreads, desserts, and exotic groceries across brands. Snapdeal has sold 60,000 Maggi Welcome Kits in just five minutes of the brands’ relaunch. It has also partnered with Sanjeev Kapoor to sell pans, blenders, utensils, pans, cookware, etc. of the Wonderchef brand.
Snapdeal has come up with many initiatives supporting the Startup India, Digital India, and promotion of regional languages as per the Prime Minister Narendra Modi’s vision.
Of course, Snapdeal’s approach of launching new products and schemes has redefined the gameplay of the marketplace and it has benefited both the buyers and sellers. In order to woo the customers, Snapdeal has revamped its mobile website to be 85 percent lighter and also consume lesser bandwidth by 25 percent than before.
The founder of Snapdeal stated the seller enabling initiatives are to identify the challenges at each and every step of the journey of a seller and offer suitable solutions to nurture the growth of the business.
Of course, the marketplace carries the credits for being the pioneer to launch several products and initiatives. Also, it is the first one to launch a multi-lingual website. But, we need to wait to see how the other marketplaces compete with Snapdeal and give it a tough challenge.
