Snapdeal expects its online sales to cross Rs 2,000 cr in FY14
New Delhi: Online market place Snapdeal.Com expects the total sale of products traded on its platform to cross Rs 2,000 crore in the next fiscal helped by its robust growth in the past two years and the growing popularity of e-commerce in India.
"We expect the sale of goods on Snapdeal's platform to cross Rs 2,000 crore in 2013-14 fiscal on the back of a strong growth. We have maintained a growth rate of about 400 percent year-on-year in the last two years," Snapdeal.Com Co-founder and CEO Kunal Bahl said.
Besides, there has been a constant increase in the number of online transactions, which will also help Snapdeal increase its reach, he added.
Independent experts have estimated e-commerce segment to have more than doubled in India to about USD 14 billion in 2012 from USD 6.3 billion in 2011.
Last year, Snapdeal had said that it expects to garner revenues of about Rs 600 crore in the current fiscal, which will end this month.
According to Bahl, the company presently has 5,000 brands and over a million products listed on its website, which it expects to increase to 25,000 brands and 20 million products in the next 2 years.
Betting big on the growth of mobile commerce, Bahl said at present 15-20 percent of the sales on Snapdeal comes through m-commerce.
"In the next 18 months about 30 percent of the sales will come from m-commerce," he noted.
According to a report by Internet and Mobile Association of India (IAMAI) and IMRB, India is expected to have close to 165 million mobile Internet users by March 2014, up from 87.1 million in December 2012 as more people are accessing the web through mobile devices and dongles.
On the outlook, Bahl said "2012 was a good year for firms like us and in 2013 the economic sentiment seems to be recovering."
Launched in February 2010, Snapdeal employs over 1,500 people and delivers to more than 5,000 cities and towns in India.