By 121 News
Gurugram 26th November:- Snapdeal, India's leading marketplace, has crossed 100 million app downloads on Google Play Store.
Snapdeal's growth, built basis a sharp focus on serving India's vast and growing value-conscious segment, is reflected in the rapid growth in its app downloads, which have grown rapidly in the last 12 months - climbing from 73 million in October 2018 to crossing 100 million in October 2019, a gain of 37%.
Snapdeal added that the 100 million android app downloads are a reflection of our leadership and granular understanding of Bharat-focused e-commerce. We are delighted that our efforts to improve access, convenience and value for millions of users across India continues to grow and deepen the e-commerce market in India.
Snapdeal has made several additions in its app to cater to the comfort and convenience of those starting their online journeys. This includes a continuous feed that is personalized for each user, allowing users to discover relevant products in an engaging way. In addition, the app features SD TV–which has thousands of short product videos highlighting the functionality and salient features of popular products.
Based on feedback from users, Snapdeal has added various fun and engagement activities on its app. More than a million sessions of Spin the Wheel, Scratch Cards, Daily Visits Recorder, Timer-based challenges etc are unlocked every day on the Snapdeal app. These gamification initiatives incentivize users in a variety of ways through instant rewards, special deals etc.
Snapdeal's growth is also evident from its growing traffic. In October 2019, the monthly traffic to Snapdeal crossed 240 million visits – recording an all-time high.
As per SimilarWeb data of September 2019, Snapdeal with its 848 million visits to its web & mobile sites in the last 12 months is the third-largest e-commerce platform in India after Amazon and Flipkart.
It is more than four times the size of the Chinese e-commerce platform, Club Factory - which with its 205 million visits in the last 12 months is a distant #4 in the Indian market.
Snapdeal is now eight times the size of Paytm Mall, which recorded about 106 million visits to its web and mobile sites during October 2017-September 2018.
Snapdeal's growth is based on a strategy of pursuing growth basis healthy unit economics while simultaneously maximizing the operating efficiency of the marketplace. As per audited financials for the FY 2019-20, Snapdeal's consolidated revenues grew by 73% (from Rs 535.9 Cr in FY 18 to Rs 925.3 crore in FY19). Simultaneously, it also reduced its loss by 71% (from Rs 611 Cr in FY 18 to Rs 186 Cr in FY 19).
Pursuant to its Snapdeal 2.0 strategy unveiled in August 2017, Snapdeal has sharpened its focus on the needs of the value-conscious buyers in India. This market of 400 million potential buyers is the fastest-growing segment in Indian e-commerce. In the recently concluded Diwali season, Snapdeal saw growth not just in terms of traffic and app downloads but also witnessed 52% increase in order volumes this festive season, with 90% of its orders coming from non-metro users.
Snapdeal's growth in traffic and increase in volumes is also due to the deepening of its focus on value-priced merchandise. In the last two years, Snapdeal has added 60,000+ new seller partners, who have added over 50 Million new listings aimed at building a deep assortment of products relevant for value-savvy buyers. Snapdeal now has more than 500,000 registered sellers, who have more than 200 million listings on the marketplace.
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