With eye on Bharat, Snapdeal says it’s close to profitability
Himanshu Chakrawarti, CEO, Snapdeal. The growth in online shopping would be primarily driven by middle-class individuals who prioritise affordability in their purchasing decisions, he says.
In an interaction with ET Digital, Chakrawarti talks about how Snapdeal is supporting micro, small, and medium enterprises (MSMEs) in India by acting as a bridge between MSME sellers and value-conscious consumers, enabling small businesses to reach a larger customer base and expand their businesses.
Edited excerpts:
Economic Times (ET): What is the situation of India’s e-commerce market? What are the prominent challenges?
Himanshu Chakrawarti (HC): The Indian e-commerce market is currently valued at approximately Rs 4,00,000 crore and is projected to reach around Rs 9,00,000 crore by FY26, driven largely by customers from tier-II and beyond. According to a recent report by Redseer, the number of online shoppers in India is expected to grow by 50% in the next three years, surpassing 30 crore by FY26.
This growth is primarily attributed to the ‘aspirational’ consumer market, comprising middle-class individuals who prioritise affordability in their purchasing decisions.
The biggest challenge facing the industry today is striking the right balance between serving the diverse population of Bharat and offering exceptional services in a financially sustainable manner. With a large consumer base encompassing varying income levels, ethnic backgrounds and geographic areas, meeting the diverse requirements of Bharat while remaining profitable is a complex task.
