Snapdeal said 2014 had been a “phenomenal” year for the homegrown online marketplace and more than 65 per cent of orders placed came through mobile devices.
Growing at over 600 per cent, the eCommerce firm said it was also one of the top five-most searched sites on the Internet in the country last year.
Snapdeal grew over 600 per cent this year (2014) becoming the fastest growing eCommerce company in India and a leader in mCommerce with over 65 per cent of the orders coming from mobile devices,” Snapdeal co-founder and CEO Kunal Bahl said. With a strong belief that whatever can be bought offline can be sold online, Snapdeal sold automobiles (two and four wheelers) online, he added. “We were among the top 5 most searched sites on the internet in India in 2014.
Because of your continued support, 2014 was a phenomenal year for Snapdeal and all our merchant partners,” he said in a letter to Snapdeal customers. Bahl promised the customers that 2015 will see many more innovative categories being launched on Snapdeal. He added that the eCommerce site has reached more than 40 million people.
On the firm’s vision, Bahl said: “Our vision is to create 1 million online entrepreneurs in India and to reach this goal we will continue to innovate to enhance your online shopping experience and our merchants selling experience on Snapdeal.”
The firm currently houses over 5 million products across 500 diverse categories from over 50,000 sellers. eCommerce has taken India by a storm and has shown potential to grow further with the Indian government, firms and investors trying to capitalise on its popularity.
A report by consulting firm Technopak pegs the USD 2.3 billion e-tailing market to reach USD 32 billion by 2020. Another report by consultancy firm PwC and industry body Assocham suggests that eCommerce firms are expected to spend up to USD 1.9 billion by 2017-2020 on infrastructure, logistics and warehousing.