Brand name- Snapdeal
Founder- Kunal Bahl, Rohit Bansal
Snapdeal is an extremely popular site for customers who like to shop online. It is one of the fastest growing online e-commerce platforms. The site provides millions of goods which can be bought with just a click on the phone.
Snapdeal has been constantly playing an important role in making lives better for Indian customers. And currently is among the top sites for online shopping in India.
How it all started
The online platform for shopping was rapidly growing in India. And with this high tide of online shopping sites, Snapdeal came into being. In the highly growing year 2010, the founders of Snapdeal Kunal Bahl and Rohit Bansal started their journey, both of them wanted to start their own business.
They chose an offline couponing business and named it Money Saver and to their surprise over 15000 coupons were sold in three months and it was time to take the business to the next level which led to the formation of Snapdeal.
Snapdeal was launched in 2010 holding the hands of Mr. Kunal Bahl and Mr. Rohit Bansal. The app provided over thirty million products or more.
Even various retailers and popular brands collaborated with them and listed their products on Snapdeal, and by the end of 2011, it became extremely famous and started giving a huge competition to the other popular online shopping sites.
Snapdeal Marketing strategy and its successes
The variety of products-
Snapdeal is known for its wide range of products under one single site. It is an absolute pleasure for customers to buy goods from Snapdeal as they can get an enormous amount of choices for every product. The site offers a whopping 60 million and above products for over 30 thousand plus sellers and 800 categories to choose from.
The Indian customers with their varied taste and culture can choose from both domestic and international brands under this giant e-commerce platform. From clothes to electronic goods everything can be found in Snapdeal. The most popular mobile brands collaborated with Snapdeal, which gained huge popularity for the customers.
Some of the most popular product categories listed in Snapdeal are apparels which include fashion brands for men, women, and children, lifestyle products encompassing beauty and fitness products in health and nutrition, Electronic gadgets and mobile accessories are amongst the hot favorites.
They also have a wide range of footwear for all age groups and gender and a perfect place for book lovers of books and movies. Apart from these, home and kitchen related products, computers, laptops, and headphones are found on this site.
Price is an important factor for an Indian customer. The market for online e-commerce platforms is always fluctuating regarding the price of the products. The pricing strategy of Snapdeal depends majorly on the price provided by the other e-commerce platforms, Snapdeal aims to provide the same product at a much lesser price from their competitors.
The company knows that customers tend to buy products who will offer the least amount of price, for this they have collaborated with various retailers and popular brands on only a fundamental prerequisite to provide their products at the least possible amount.
To stay in the market they provide an enormous amount of discounts major discounts are provided during the festivals, which is an important factor for the rising the sale and popularity of Snapdeal. This marketing strategy made Snapdeal rise among the previously popular e-commerce platforms by giving them a huge competition.
Reach of Snapdeal in India-
Snapdeal being an online platform has a wide reach in the Indian market where customers can choose from different categories of products that are delivered at their doorstep. They have a strong distribution network functioning in terms of sellers, courier services and logistics who ensure the products reach the consumers on time.
Snapdeal has branch offices in major cities like Bangalore, Mumbai, Pune, Hyderabad and other popular cities to ensure the brand visibility and trust among the customers. Interestingly, the majority of products are delivered sellers and not by Snapdeal who arrange for the products to reach the end consumers.
Snapdeal with the help of some famous e-commerce distribution logistics like GoJavas and Unicommerce is strengthening its supply chain and logistics mechanism of sellers. Snapdeal has given a platform to the customers and the sellers resembling a marketplace system where they do not maintain an inventory but rather help in promoting the sellers to advertise their products.
Snapdeal has been an excellent place for shoppers. Snapdeal aims to provide quality products with the least amount of money to the customers and for this, they need to gain the trust of the customers. People sometimes apprehend to buy goods online for this the site has return policies and handles customers by giving fast resolutions to their queries and complaints.
This policy resulted in the popularity of Snapdeal and customers look forward to shopping on Snapdeal. Snapdeal ensures that the right products reach the consumer with efficient packages and minimal damages through its entire delivery. Snapdeal promises its customers to deliver their products at the earliest.
And surprisingly Snapdeal started the process of creating a platform where consumers could even sell their product. They even have the policy to track the products online and updates are given through messages and emails.
Success and awards-
Snapdeal success includes its popularity among the partners, several global investors and individuals such as SoftBank, BlackRock, Temasek, Intel Capital, Bessemer Venture Partners, Mr. Ratan Tata have shown the trust on Snapdeal, which is a huge success for them.
Snapdeal’s founder Kunal Bhal got the prestigious Entrepreneur of the year in 2015 which is a much-deserved award for the rising popularity of the site. According to a September 2013 report by Technopak Advisors, Snapdeal has raised a total of 102 million in funding and established a strong ground in the Indian market.
Snapdeal is an online e-commerce platform that promoted its site on different mediums like television, social media sites like Facebook, YouTube, Twitter, and others. They also took the help of print media and online ads to reach the customers. Some of the famous campaigns like ‘Dil Ki Deal’, ‘Bachatet Raho’ and ‘Unbox Zindagi’ grabbed people’s attention.
They even launched a thank-you campaign for the Indian soldiers this gesture touched the Indian customers and Snapdeal came into the good books of the customers.
Snapdeal has been ruling the online market since 2010. Though their journey was hard to push through the other famous e-commerce platforms, Snapdeal ultimately was able to reach the popularity which they deserved.