07 January 2023, Mumbai
In fiscal year 2022 Snapdeal’s revenue rose 14 per cent. Losses, however, widened fourfold as expenses such as employee benefits and advertisements increased.Total expenses grew 68 per cent. Employee benefit expenses grew 76 per cent. Advertisement and promotional expenses rose 82 per cent.
The e-commerce company was founded in 2010. The company now focuses on selling goods to value-conscious users. Snapdeal has built a comprehensive toolkit to serve India’s mega cohort of value-savvy users. Snapdeal’s delivered volumes in fiscal 2022 grew 88 percent over fiscal 2021.Snapdeal integrates the two most important criteria for a value shopper - quality and price.
For Snapdeal footwear is a leading choice across both men's and women's categories. In fashion, the children’s category saw the largest growth. There was a 250 percent increase in sales volumes in girls' and boy’s apparel, while infant wear clocked a 221 percent increase in volumes.
Despite inflationary pressures, India’s e-commerce industry recorded a 36 per cent yearonyear growth in 2022 although more shoppers returned to physical stores as Covid fears receded. Tier III markets like Udaipur, Roorkee and Rohtak grew by 64 per cent in 2022 year on year while Tier II markets like Bhopal, Amritsar and Bhubaneshwar clocked an impressive 50 per cent growth.
