Snapdeal on Monday announced a major benefit for its sellers by reducing its seller payment cycle by 40 percent, thereby becoming the e-commerce platform that offers the fastest payment schedule in the country.
Snapdeal's announcement is a welcome move for the 3,00,000 sellers on its platform. Faster payments will enable them to use their working capital more efficiently and generate additional business without needing to invest additional funds.
For sellers who are working on the SD+ model, today's announcement will mean a whopping 40 percent faster payment, which is also the best in class in Indian e-commerce industry.
Appreciating the announcement by Snapdeal, Sanjay Thakur, President of e-Seller Suraksha, a leading online seller forum, said, "We welcome Snapdeal's initiative to make seller payments faster. This will go a long way in helping us plan better and do more business. Snapdeal has always worked with sellers in a true partnership mode and this is one more example of the same."
"Snapdeal has been a great platform for our business, helping us reach a much wider set of buyers across the country. Today's announcement will further help enhance our overall business experience on the platform," said VP Marketing and Sales - Red Tape, Arvind Verma.
"We have enjoyed a seamless working relationship with Snapdeal. Faster payments are a welcome step which will help us grow our business through Snapdeal's marketplace," said Director - NSDS Consultants Pvt. Ltd., Vivek Bhalla.
In recent announcements, Snapdeal has highlighted its commitment towards bringing in business efficiencies across its entire ecosystem - seller stakeholders being a critical part of the same. Today's announcement is another step in this direction, and builds upon Snapdeal's continuing efforts to help India's small and medium businesses derive maximum growth and gains out of its platform.
Over the last several years, Snapdeal has deeply invested in data analytics, helping sellers with research-based inputs on which products are in demand at a given time, given price, and in a given region. This has led to not just better conversions for sellers, but has also helped them build brand loyalty.
Additionally, Snapdeal provides comprehensive training and development opportunities to ensure that sellers understand the ever evolving essentials of online commerce. Recently, it announced the launch of GST Guru, a program that offers sellers an exhaustive range of resources on GST compliance. Likewise, "Unbox Success" is an interactive platform for sellers where they are encouraged to send in their queries, challenges, and successes and openly share them to a microsite dedicated entirely to seller learning.
The Snapdeal seller team works in close collaboration with sellers, seeking ongoing feedback on policies as well as ways to enhance ease of doing business on its marketplace. Many seller initiatives are a direct result of this deep engagement.
Disclaimer: No Business Standard Journalist was involved in creation of this content
