New Delhi [India], Mar 14 (ANI-BusinessWireIndia): Snapdeal, India's largest online marketplace, today shared interesting data on its self-service seller ads platform, launched nine months ago. During this time, over 10,000 sellers, 200 brands and agencies have used the ads solution and this number continues to grow.
By the next three months, the ads platform will rake in 100 crore in annual revenue for the company. As more and more sellers come on the platform, ad revenues will be a growing contributor to Snapdeal's profitability goal.
Banner ads were launched nine months ago by Snapdeal to cater to both brands and smaller sellers to help them utilize prime real estate on the Snapdeal website, enhance their visibility, increase conversions, and ultimately build brand loyalty. While the service was initially piloted with bigger brands; it was opened to all sellers, owing to a great business response. Additionally, given the platform's popularity, Snapdeal has also announced a 50 percent drop in ad rates across most of the categories. The new rate will be applicable starting March 14th.
Besides placement of banner ads, sellers can also set up virtual storefronts to showcase their products for customers accessing the Snapdeal website. This will help bring the whole portfolio of their products available on Snapdeal at one place with a single click of a button. Added to this, Snapdeal will also offer sellers options to customize their store's appearance and offerings in accordance to their own preferences. Sellers will also be able to use specialized and seasonal widgets to highlight and group their products in various customized categories like 'products on sale', 'new collection', 'most popular products' etc.
Rajiv Mangla, Chief Technology Officer, Snapdeal, said, "Sellers are a crucial part of the market place ecosystem and with the launch of this innovative solution, we are enhancing visibility for our sellers significantly.
Simultaneously, we are also making their offerings more accessible and appealing for the customers. This is a massive step in our on-going journey towards creating the most reliable and frictionless online selling solution for small and medium business owners across the country."
Vishal Chadha, Senior Vice President, Business added that, "Ads are a key revenue driver for our marketplace platform. We are very pleased with the state-of-the-art support that this solution is offering our sellers and brands. The response we have seen so far is a clear evidence of the value that these businesses are deriving from the same." (ANI-BusinessWireIndia)