Global Apparel Market – An Overview | Watch NOW! | Ad
Home / Knowledge / News / Textiles / Snapdeal to spend more in logistics to speed up delivery
Snapdeal to spend more in logistics to speed up delivery
30
Dec '15
Backed by Japan's SoftBank Group Corp and others, e-commerce player Snapdeal, will spend more on logistics and technology to better compete with Flipkart and Amazon's Indian unit, its co-founder has said.

With online shopping becoming more popular in India, e-commerce firms are struggling to cope with the growing demand and make faster deliveries in different parts of the country.

The e-commerce market in India is expected to grow to $220 billion in the value of goods sold by 2025, up from an expected $11 billion this year, Bank of America Merrill Lynch said in a recent report.

Flush with $500 million from a funding round in August, led by China's Alibaba, SoftBank and Foxconn , Snapdeal is now looking to expand its services.

Snapdeal will particularly focus on cutting delivery times by investing in better data analytics and demand forecasting, co-founder Rohit Bansal told Reuters.

"We have done over 10 acquisitions and investments in the last one year, almost all of them in the field of technology or supply chain and payments," he said. "With all these investments we have been able to reduce our delivery times by 70 per cent in the last one year."

Quick and cheap delivery is important to be able to win over customers in a competitive industry in which companies are burning huge amount of money to grow.

Snapdeal, which had $4.5 billion in Gross Merchandise Volumes (GMV), a measure of value of goods and services sold, by August, bought mobile wallet company FreeCharge in April for around $400 million.

It has also spent around $35 million to buy about 50 per cent stake in logistics services company GoJavas.

"Our view is that in five years from today 10 per cent of India's consumption will happen online, not just products, but all consumption, and we want to build a technology ecosystem for that," Bansal said. (SH)

Fibre2Fashion News Desk - India


Must ReadView All

Courtesy: Asmara Group

Apparel/Garments | On 20th Sep 2018

Fragmented nature of Indian apparel sector major challenge

A major challenge for the Indian apparel sector is its fragmented...

Courtesy: Pexels

Textiles | On 20th Sep 2018

Risk to US consumers grows with tariff escalation: NRF

The US National Retail Federation (NRF) has expressed disappointment...

India's 2018-19 forward cotton export contract up by 100%

Textiles | On 20th Sep 2018

India's 2018-19 forward cotton export contract up by 100%

Rise in demand from China, lower domestic prices and depreciation of...

Interviews View All

Manuj Terapanthi, Texaura

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Varinder Singh Jawanda, Trendy Bharat

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Jurgen Gauger, Spreadshirt

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Ramez Basmaji,

Ramez Basmaji

Fabusse is a Lebanon-based fashion agency that offers a variety of...

Karen Lou,

Karen Lou

Australia-based Sunseeker has been creating swimwear since 1970. Sunseeker ...

Harsh Shah,

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Matthew Kolmes, Supreme Corporation

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search