Update On :07 October 2015
The largest online marketplace Snapdeal has partnered with KPMG and released a study according to which the SMEs who adopted e-commerce believe that it is a cost effective medium to grow sales. The macro-impact of e-commerce sector on growth of SMEs in India has been examined by the study to identify 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 spends to get incremental business.
Richard Rekhy, CEO of KPMG India said that 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.
Kunal Bahl, Co-founder and CEO, Snapdeal said, â€œWe have taken a number of initiatives like seller training programs, seller financing program- Capital Assist and 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.â€
News Source From : http://www.cxotoday.com/story/more-indian-smes-embracing-e-commerce-to-grow-sales/