The official said most of the sellers on Snapdeal are from the brick and mortar market and they are the ones who are going online.
Snapdeal is making progress in taking Indian markets online to offer sellers a robust and future-ready opportunity to grow their business by expanding their operations, a senior company official said on March 27.
"In India, (just) 10 percent of the retail is in the organised sector... In the past, unorganised retail was adversely impacted by organised retail... Snapdeal built a marketplace to provide these (unorganised) sellers with an opportunity to move online in order to grow," Snapdeal Senior Vice-President (Corporate Affairs and Communications) Rajnish Wahi said.
He said the country's overall consumption demand is worth $800 billion currently and is expected to reach $2 trillion by 2025.
"Online commerce is nearly 2 percent of India's retail and will reach 10 percent by 2025. Thus, the online market in India will be worth $200 billion in the next 7 years."
On the Punjab market, he told reporters that Punjab-based retailers are the highest sellers of sports goods on Snapdeal and serve buyers all over the country.
"Some of the popular sports goods sold online by Punjab-based sellers are punching bags, badminton racquets, sports shoes, hand wraps, and home gym sets. They also sell huge quantities of safety rods and protein supplements," Wahi added.
Snapdeal has more than 5 lakh registered sellers from across India including 15,000 in Punjab, he said.
"On the buyer's side, the e-commerce market in India is growing not only in size but also in diversity. In 2018, India's e-commerce heralded the rapid emergence of buyers from India's tier-II and III cities. This growth of e-commerce into India's non-metro cities is expected to accelerate in 2019 and over the next few years," he said.
Punjab is industrially an aggressive and prosperous state and is a significant market, he said.
"It is very difficult (for buyers) to get to 10 bazaars and figure (out) what you want. What if (they) can get everything at home, get better price, better choice to return goods and exchange stuff," he added.The official said most of the sellers on Snapdeal are from the brick and mortar market and they are the ones who are going online. "This is for them a new distribution channel... I don't think we are cannibalising brick and mortar, we are actually giving them new distribution modes," he said in response to a question.Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here.