Shoppers Stop ties up with Snapdeal, to start online store
Shoppers Stop has inked a deal with online marketplace Snapdeal, as the department store operator looks to scale up its e-commerce business.business Updated: Aug 07, 2015 03:52 IST
Shoppers Stop has inked a deal with online marketplace Snapdeal, as the department store operator looks to scale up its e-commerce business.
As a part of the deal, Shoppers Stop will open its full brand store on Snapdeal. The two will also pilot an omni-channel project from Diwali, where in, customers ordering from the Shoppers Stop store on Snapdeal will be able to pick up the products or get them delivered from the nearest brick and mortar outlet of Shoppers Stop. The omni-channel pilot will be first launched in North India and will expand to other regions of the country over the next one year.
Rival Future Group last year tied up with Amazon to sell its portfolio of over 40 brands on the latter’s online marketplace in India. India’s retail market expected to almost double to $1 trillion (`64 lakh crore) by 2020 from $600 billion (`38 lakh crore) in 2015 and the e-commerce market is expected to quadruple to $60-70 billion (`3.8 lakh-`4.5 lakh crore), according to Boston Consulting group.
“The deal will give us far superior traction in terms of number of visitors. We believe Snapdeal is thousand times bigger in terms of reaching customers,” said Govind Shrikande, MD of Shoppers Stop.
“We are essentially offering our platform to Shoppers Stop to enable reach and as part of it we will offer logistics support, payment support, customer support and other such services,” said Kunal Bahl, CEO, Snapdeal.
First Published: Aug 07, 2015 03:44 IST