Snapdeal’s CEO, Himanshu Chakrawarti, revealed that the company’s strategic focus is on the burgeoning value lifestyle e-commerce market in India. With a significant surge expected from US $ 88 billion to US $ 175 billion, Chakrawarti emphasised Snapdeal’s intention to secure a substantial portion of this opportunity.
“We are not saying we’ll carve 60-70 per cent of this market. We are saying we want a decent slice of this opportunity that is coming up, and that we feel can be done if we focus our energy entirely on our unit economics, which is what we do, and the customer proposition,” Chakrawarti said.
The online marketplace plans to achieve this by concentrating on unit economics, quality assurance, and utilising advanced technologies like AI and ML to enhance customer experiences.
Snapdeal’s approach involves catering to budget-conscious buyers in Tier-2 towns, focusing on affordable lifestyle products. Chakrawarti stressed the importance of ensuring product quality in this market, especially for consumers less familiar with digital platforms. The platform has simplified the user experience, employing large text, visuals, voice assistance, and vernacular support to aid customers, most of whom are new to e-commerce.
By leveraging AI, ML, and data science capabilities, Snapdeal aims to maximise customer satisfaction, creating a seamless and accessible online shopping environment. With a focus on unit economics and customer-centric strategies, Snapdeal is poised for significant growth in India’s value lifestyle e-commerce segment.
“We focused a lot on the customer experience, measuring it at various touchpoints. We have made massive progress. Escalation matrix are very clearly defined and they trigger in automatically we are using tech, data and data sciences to make the customer experience easier,” he said.
