More Indian SMEs Embracing E-Commerce To Grow Sales
A whopping 85% of the SMEs who adopted e-commerce believe that it is a cost effective medium to grow sales, according to Snapdeal, India’s largest online marketplace, which released a study in partnership with KPMG. The study titled ‘Impact of Ecommerce on SMEs in India’ examines the macro-impact of e-commerce sector on growth of SMEs in India and identifies remaining gaps in the eco system needed to be plugged to facilitate adoption of e-commerce by SMEs.
SMEs using internet for business saw 51% higher revenues and 49% more profit. Nearly three-fourth SME respondents felt that ecommerce enables them to understand their markets better. The study also shows 46% SMEs reported increase in business through listings on online marketplaces.
E-commerce enabled SMEs reported 60% to 80% reduction in distribution, marketing and sales spend to get incremental business, it said.
“The fast paced growth of the e-commerce industry in India represents an unprecedented opportunity for SMEs. We hope that the findings of this report will assist policymakers, industry bodies and e-commerce companies to strengthen the support ecosystem, which enables SMEs to ride the e-commerce growth wave successfully,” said Richard Rekhy, CEO, KPMG India.
Kunal Bahl, Co-founder and CEO, Snapdeal said, “At Snapdeal, we are working towards building the most impactful digital commerce ecosystem in the country and SMEs form the foundation of this ecosystem in many ways. With over 200,000 sellers operating on our platform, we felt the need to conduct a systematic unbiased study to identify opportunities and challenges to further accelerate the growth of the sector.”
Bahl added, “We have taken a number of initiatives like seller training programs, seller financing program- Capital Assistand Snapdeal Seller Advisor Program, with an aim of creating life changing experiences for over one million sellers in the next three years. This study has given us deeper insights into what more we can do to enable small businesses become more successful online.”
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