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Snapdeal flips business model
July 21, 2021
Homegrown online marketplace Snapdeal, which was once competing with Flipkart and Amazon, has flipped its plan of action to focus on the value-conscious end of the market.
The development comes against the backdrop of the SoftBank-upheld organization shelving a $950-million consolidation plan with rival Walmart-owned Flipkart in 2017 and consolidating its entire business, including laying off the greater part its workforce and selling key resources, for example, mobile wallet business Freecharge to Axis Bank and logistics arm Vulcan Express to Kishore Biyani’s Future Group.
“Over the last few years, we have very sharply focused on the value e-commerce section and our system going ahead too is to continue to build for this segment,” Kunal Bahl, founder and CEO at Snapdeal, told TOI. “We are exceptionally clear about the clients we are serving and that they are primarily value shoppers. So, we will not sell expensive items or high-end brands.”
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