Shopo, a consumer-to-consumer marketplace launched by Snapdeal, today announced new initiatives to strengthen user experience including escrow protection for buyers and sellers, and reach beyond 'app' to the web.
Shopo, which currently has 2,00,000 sellers on its marketplace said it expects this number to rise to 10 lakh by the end of the current fiscal. Shopo also hopes to monetise the platform through advertising revenue by the end of next quarter but has ruled out introduction of sellers' commission.
"We do not plan to have seller commission going forward as we are positioned as a zero commission marketplace," Sandeep Komaravelly, senior Vice President, Shopo said.
Shopo has integrated Freecharge wallet on its app, which offers escrow protection for buyers and sellers transacting on the marketplace.
As part of buyer protection, all online payments would cover the buyer from non-delivery and non-responsiveness of sellers. Buyers' money will be held in an escrow account and will be released to the seller only upon confirmation and delivery to the buyer.
