Tuesday 14 March 2017

Snapdeal data-driven initiative helps sellers stock up on high demand items

A ray of good fortune has come Snapdeal’s way through the success of its seller initiative ‘Grow My Business’. The etailer has been facing heat from online sellers for withholding payments and other misdeeds. But this achievement will help it score some positive points with sellers.
The marketplace shared the success of initiative ‘Grow My Business’ on Friday. It does exactly what the name suggests. It helps online sellers in varied categories grow and develop their product assortments in terms of quantity and quality.

Grow My Business achievements

With the help of this seller initiative, Snapdeal managed to grow its key category collections by 25%. In the last month, the etailer’s Mobile and FMCG categories grew phenomenally.
So, what the ‘Grow My Business’ recommendation tab does is it provides customised business advice and consumer insights for sellers on:
  • what products will sell most
  • which products are trending
  • which critical products are out of stock
  • what pricing is preferred
  • which colours are relevant (for well-defined audiences)
With this facility, sellers have access to accurate data analytics and insights based on consumer behaviour. This enables them to make informed decisions based on precise data and timely inputs. Analysis are made available on the seller panel itself. As a result, sellers can introduce relevant and fast moving items to their listings. This way, sellers enjoy higher conversions and sales and are ultimately capable of building brand loyalty.
Snapdeal has also simplified and sped up the listing process for sellers on its platform. For standard products, the quality checks have been automated and on account of this, listing time has been cut significantly.

Seller response to Grow My Business

Reports state that all of Snapdeal’s 3,00,000 online sellers appreciate its new seller initiative.
Arihant of Paridhi Creations says, “The ‘Grow My Business’ tab is amazing! I can see the best-selling items as well as emerging favorites of buyers. I simply look at the recommendations and add products that are in line with my existing assortment. With this feature, I have been able to increase my sales from Rs. four lakh to Rs. 30 lakh per month.”
Kailash Shahani also experienced exciting results for his brand KD Electronics with this initiative. He mentions, The ‘Grow My Business’ tab is immensely useful. Backed by hard data, these recommendations have brought about a significant increase in the number of orders that I receive and, hence, have helped me actually grow my business.”
Snapdeal says its online sellers vital to its business and it is continuously working to develop an efficient ecosystem so they benefit. The latest ‘Grow My Business’ feat is a major step in this direction. Sellers receive predictive and intelligence driven growth.
In addition to this initiative, the ecommerce company also offers –
  • Comprehensive training
  • Development opportunities (to understand the ever changing ecommerce scene)
  • GST Guru – a program to offer sellers resources to comply with GST
  • Unbox Success – an interactive platform for sellers to share queries, challenges and successes

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