Snapdeal today announced a major benefit for its sellers by reducing its seller payment cycle by 40%, thereby becoming the e-commerce platform that offers the fastest payment schedule in the country.Snapdeal’s announcement is a welcome move for the 3,00,000 sellers on its platform. Faster payments will enable them to use their working capital more efficiently and generate additional business without needing to invest additional funds. For sellers who are working on the SD+ model, today’s announcement will mean a whopping 40% faster payment, which is also the best in class in Indian e-commerce industry.
Appreciating the announcement by Snapdeal, Sanjay Thakur, President of e-Seller Suraksha, a leading online seller forum, said, “We welcome Snapdeal’s initiative to make seller payments faster. This will go a long way in helping us plan better and do more business. Snapdeal has always worked with sellers in a true partnership mode and this is one more example of the same.”Other sellers also expressed their approval of the announcement. Arvind Verma, VP, Marketing & Sales – Red Tape, said, “Snapdeal has been a great platform for our business, helping us reach a much wider set of buyers across the country. Today’s announcement will further help enhance our overall business experience on the platform.”
Vivek Bhalla – Director – NSDS Consultants Pvt Ltd, said, “We have enjoyed a seamless working relationship with Snapdeal. Faster payments are a welcome step which will will help us grow our business through Snapdeal’s marketplace.”
In recent announcements, Snapdeal has highlighted its commitment towards bringing in business efficiencies across its entire ecosystem – seller stakeholders being a critical part of the same. Today’s announcement is another step in this direction, and builds upon Snapdeal’s continuing efforts to help India’s small and medium businesses derive maximum growth and gains out of its platform.
Over the last several years, Snapdeal has deeply invested in data analytics, helping sellers sellers with research-based inputs on which products are in demand at a given time, given price, and in a given region. This has led to not just better conversions for sellers, but has also helped them build brand loyalty.
Additionally, Snapdeal provides comprehensive training and development opportunities to ensure that sellers understand the ever evolving essentials of online commerce. Recently, it announced the launch of GST Guru, a program that offers sellers an exhaustive range of resources on GST compliance. Likewise, “Unbox Success” is an interactive platform for sellers where they are encouraged to send in their queries, challenges, and successes and openly share them to a microsite dedicated entirely to seller learning.
The Snapdeal seller team works in close collaboration with sellers, seeking ongoing feedback on policies as well as ways to enhance ease of doing business on its marketplace. Many seller initiatives are a direct result of this deep engagement.
Snapdeal’s vision is to create India’s most reliable and frictionless commerce ecosystem that creates life-changing experiences for buyers and sellers. In February 2010, Kunal Bahl along with Rohit Bansal, started Snapdeal. Today Snapdeal is India’s largest online marketplace, with the widest assortment of 65 million plus products across 1000+ categories from over 125,000 regional, national, and international brands and retailers. With millions of users and more than 300,000 sellers, Snapdeal is the shopping destination for Internet users across the country, delivering to 6000+ cities and towns in India. In its journey till now, Snapdeal has partnered with several global marquee investors and individuals such as SoftBank, BlackRock, Temasek, Foxconn, Alibaba, eBay Inc., Premji Invest, Intel Capital, Bessemer Venture Partners, Mr. Ratan Tata, among others