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Business Economy

Snapdeal has no plans to include grocery segment on its platform : Wahi

Ahmedabad, Feb 12 (UNI) Snapdeal, India’s leading e-commerce platform, on Tuesday said that it has no plans to enter in to 'high-volume, low margin' grocery segment which constitutes half of the total retail market in India, anytime in foreseeable future.
Grocery despite being half of the retail segment was not Snapdeal's interest, Senior Vice President (Corporate Affairs and Communications) Rajnish Wahi, told the media.
''We don't intend to get in to grocery segment anytime in foreseeable future as it involves large volumes and very small margins,''he said.
To a query he welcomed the new e-commerce rule implemented by the government of India from February 1, which apart from other things prohibits the sell of such items on e-commerce platforms which were produced by companies with their stake in them.
He said that these rules showed the clarity of purpose of the government which is to bring more and more retail businesses on e-platform.
He further said that India's consumption on e-commerce is 800 Billion US Dollars, which was growing consistently and will reach two Trillion US Dollars by 2025. Online commerce is nearly two per cent of India’s retail and will reach 10 per cent by 2025. Thus, the online market in India will be worth 2000 Billion US Dollars in the next seven years.
In India,10 per cent of the retail is in the organised sector and 90 per cent is serviced by the unorganised sector, the various bazaars that are common in each and every state and city in the country. In the past, unorganised retail was adversely impacted by organized retail and had no recourse. Snapdeal built a marketplace to provide these sellers with an opportunity to move online in order to grow, he added.
The growth of genuine market places like Snapdeal is now offering sellers a robust and future-ready opportunity to grow their business by expanding their operations online. More than 500,000 sellers from across India have already tapped the online opportunity through Snapdeal.
According to Mr Wahi, 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 into India’s non-metro cities will accelerate in 2019 and over the next few years, for some obvious and some emerging reasons.
The biggest factor for this growth has been the sharp drop in data prices (down by nearly 90 per cent in the last two years), and a sharp surge in data consumption.
Talking about Gujarat he said that this western state-based sellers are the highest sellers of fashion on Snapdeal and serve buyers all over the country.
Some of the popular fashion items sold online by Gujarat-based sellers are georgette sarees, banarsi sarees, anarkali suit, and lehengas. Many Gujarat based sellers have used the online opportunity to create a new business for the next generation. Value-priced budget phones, electronic accessories, seller branded fashion and everyday home utility items are popular with the buyers. Some of the favourite products of buyers in Ahmedabad are bike face masks, smart fitness bands, kitchen tools, hair straighteners and more, he added.
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