Indian online marketplace Snapdeal, backed by Japan’s SoftBank Group Corp and others, will spend more on logistics and technology to better compete with Flipkart and Amazon’s Indian unit.
Shopping online is becoming more popular in India due to the rising use of cheaper smartphones and e-commerce firms are struggling to cope with the growing demand and make faster deliveries in different parts of the country.
The e-commerce market in India is expected to grow to $220 billion in the value of goods sold by 2025, up from an expected $11 billion this year.
Flush with $500 million from a funding round in August, led by China’s Alibaba, SoftBank and Foxconn, Snapdeal is now looking to expand its services.
Flush with $500 million from a funding round in August, led by China’s Alibaba, SoftBank and Foxconn, Snapdeal is now looking to expand its services.
One area Snapdeal will focus on is to cut delivery times by investing in better data analytics and demand forecasting.
Snapdeal had received interest in part of its stake in FreeCharge to raise funds for the mobile wallet company, but declined to comment further.
in five years from today 10% of India’s consumption will happen online, not just products, but all consumption, and to build a technology ecosystem for that.
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