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 US dollar in the value of goods sold by 2025, up from an expected 11 billion US dollar this year, Bank of America Merrill Lynch said in a recent report.
Snapdeal will particularly focus on cutting delivery times by investing in better data analytics and demand forecasting, co-founder Rohit Bansal said.
“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, a company spokesman said.
