The e-commerce sector in India is becoming very popular and more and more international platforms are climbing onto the bandwagon to offer their products online.
According to a recent report by Morgan Stanley, online shopping penetration in India is likely to increase to 36% by 2020 from 9% in 2013, primarily led by mobile users. So it is wise to keep your products in the online arena.
When the owner of a home decor company, wanted to list his products on e-commerce websites, he listed out the leading e-commerce websites in India. After the due diligence, he zeroed in on Amazon and could easily list his company on the website, as a seller. Although the paper work took some time to come through, the overall process was pretty smooth. Most importantly, he had the adequate capital required to back his move.
The e-commerce websites are tying up with non-banking finance companies (NBFCs) like Capital Float, NeoGrowth and Capital First, as well as online finance companies such as Lendingkart and loan facilitators like SMEcorner, to offer sellers quick and hassle free loans.On Wednesday, Snapdeal had signed an MOU with SIDBI.
SMEcorner founder and chief executive Samir Bhatia said “SMEcorner has tied up with Snapdeal, Flipkart, eBay, Paytm, among other e-commerce players to play the role of a catalyst to secure easier loans for sellers”. The State Bank of India tied up with Amazon India to help e-commerce sellers access easy loans.
Both Flipkart and Amazon had stated earlier this year that they aimed to more than double the number of sellers on their platforms to one lakh each by the end of the year, while Snapdeal has targeted to get over 10 lakh sellers on board over the next three years.This move has the potential to help more and more startups and small businesses to become sellers on e-commerce websites with ease.