The New Delhi-based company Snapdeal was established in 2010 by businessmen Kunal Bahl and Rohit Bansal. It began as an online marketplace for daily discounts and eventually developed into a full-fledged e-commerce business. Due to its availability on the internet and the growing importance of e-commerce in the Indian buying environment, Snapdeal is now available in a wide range of households.
Some of the investors in Snapdeal’s startup venture include:-
With its 3 lakh plus sellers selling various products, Snapdeal currently competes with the most prominent eCommerce firms in the nation, like Amazon and Flipkart. Snapdeal services are present in more than 6000 towns worldwide. It has employed numerous marketing techniques to achieve this level of popularity.
Snapdeal sells over 30 million products in 900+ categories for various client segments. Many domestic and foreign brands are featured on the platform, some of which are not accessible through physical stores.
By selling certain products only through its online portals through partnerships, Snapdeal also offers promotions and discounts. The main items that fall under the exclusive category are mobile and electronic goods.
The following are some of the most popular and often purchased items on the Snapdeal platform:
• Fashion-related items for men, women, and kids.
• Lifestyle items, cosmetics, and workout gear related to nutrition and health.
• Don’t forget to include mobile and electrical accessories.
• Shoes for people of all ages and genders.
• A variety of literature and film genres.
• Home and kitchen appliances.
The pricing set for each product is a crucial aspect of selling goods through various e-commerce businesses. Consumers tend to favour those platforms that offer the lowest prices because they have a low likelihood of switching to e-commerce businesses. By customer requests, Snapdeal has developed its price methods and provides creative deals to many product categories. Offering additional services such as entertainment, restaurants, spas, beauty products, weekend vacations, etc., is one approach to lower product pricing. Another way is to offer discounts and promotional coupons for products. By utilising online payment methods, Snapdeal offers a variety of discounts through rewards programmes.
Location & Distribution Strategy
Snapdeal’s online portal, where visitors may examine various products in its offerings, is one of its crucial distribution tactics. It offers customers a variety of stuff from different categories and has more than 15 million subscribers. Snapdeal has branch offices in important cities such as Bangalore, Pune, Mumbai, Hyderabad, etc., to further boost regional visibility around the nation and to improve services. With the goal of e-commerce distribution logistics, such as GoJavas and Unicommerce, Snapdeal is eager to improve its supply chain and seller logistics. Snapdeal has chosen a business model in which they don’t keep inventory and instead support the sellers by assisting with their product marketing efforts.
Snapdeal’s marketing and advertising strategies include online and offline activities to draw users to its website and raise awareness of its offerings. A few of its advertising campaigns are “Dil Ki Deal,” “Bachatey Raho,” and “Unbox Zindagi,” to name a few.
To spread awareness, Snapdeal has advertised several deals and discounts it currently offers in newspapers, TV commercials, and social media sites like Facebook and Twitter. Additionally, through its portal, Snapdeal serves as a platform for promoting various product categories and brands.
Some businesses use Snapdeal to sell their goods, which increases their market presence. Since smartphones have spread to numerous areas of the nation, the company has developed its “Snapdeal App” mobile app to expand its reach. Brand ambassador – Aamir Khan served as the company’s brand ambassador, contributing to its rising popularity. However, the contract was cancelled due to the actor’s divisive statement. Snapdeal encountered similar issues after its CEO commented on India, leading to name-related confusion with Snapchat.