Online marketplace Snapdeal has a reason to celebrate as it accomplished last year’s goal.
In September 2015, the etailer had shared its aim to add 1 lakh new sellers by March 2016. Snapdeal’s Chief Product Officer Anand Chandrasekaran had said, “We are right now at 200,000 sellers. It took three years for us to get to 200,000 and my sense is that in the next six months we will add 50,000 to 100,000 sellers.”
Seller base touches 3 lakh
True to their word, the company has managed to double their seller base compared to last year and achieved the 3 lakh target by the end of FY 15-16.
Sufficient funds in the account, reduced cost of seller acquisition and on-boarding merchants specifically for the highest selling categories (home & fashion) are the factors that enabled Snapdeal to reach its target.
Vishal Chadha, Senior VP – Market Development at Snapdeal revealed, “The cost of seller acquisition has come down by almost 50 per cent since last year. The new sellers onboarded are largely in the unstructured category of general merchandise or home and fashion.”
Fake mother-son duo cheats the etailer
On one hand Snapdeal is happy about achieving the seller base target. On the other hand, buyer fraud is becoming a growing worry for the etailer.
Recently, two people pretending to be mother-son were arrested by Navi Mumbai police for cheating Snapdeal and few other etailers.
Kharghar residents Shirish Kulkarni and Mobin Yusuf Mahafule would place COD orders of iPhones. While accepting the package, Mahafule would switch the original phone with a dummy model and then return it to the delivery person saying that defective piece was delivered.
Navi Mumbai Deputy Commissioner of Police, Dilip Sawant said, “After Snapdeal lodged a complaint against the ‘mother-son’ duo, crime branch sleuths raided their Kharghar flat and seized 17 iPhones worth a total Rs 8.16 lakh. We have urged other e-tailers to come forward and register complaints against them.”
In February this year, a 3rd year B.Tech student Aman Gupta was arrested after cheating Snapdeal for goods worth Rs. 24 Lakhs.