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    E-commerce saw V-shaped recovery post lockdown, Snapdeal turned profitable: Kunal Bahl

    E-commerce saw V-shaped recovery post lockdown, Snapdeal turned profitable: Kunal Bahl

    E-commerce saw V-shaped recovery post lockdown, Snapdeal turned profitable: Kunal Bahl
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    By Mugdha Variyar   IST (Published)

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    Snapdeal co-founder and CEO Kunal Bahl on Thursday said the e-commerce sector saw a V-shaped recovery post lockdown, with categories such as fashion witnessing an increased demand despite the pandemic. Bahl also added the Snapdeal made profit at the company level during the pandemic.

    Snapdeal co-founder and CEO Kunal Bahl on Thursday said the e-commerce sector saw a V-shaped recovery post lockdown, with categories such as fashion witnessing an increased demand despite the pandemic.
    Bahl also added the Snapdeal made profit at the company level during the pandemic.
    E-commerce companies were only allowed to sell essential items in the first two phases of the lockdown.
    “The April-May period was challenging. As an industry and company we did not know when the recovery will happen. But the industry was surprised with a V-shaped recovery,” Bahl told CNBC TV 18.
    “Snapdeal has added a few million buyers in the last 45 days. We are back to 120% customer acquisition runrate from the pre lockdown period and delivery partners are telling us they are ramping up delivery executives,” he added.
    Bahl added that even fashion as a category was up 130 percent from pre-lockdown period.
    “People want to look good even if they are working from home since much of the work is on video,” he said.
    The second wave of localised lockdowns across various parts of the country have once again caused some disruption to e-commerce and other industries.
    “Lockdowns do create inconvenience to consumers who may not be able to get some items. But we take an opt-in from consumers to place orders that we will ship when lockdowns are lifted. 90% consumers are happy to wait for deliveries,” Bahl further added.
    Snapdeal turned profitable at a company level during the pandemic. “Snapdeal generated a profit at a company level last month,” Bahl said, adding the company was focused on keeping fixed costs down.
    “We served 30 million customers with only 700 people,” Bahl explained.
    The plan for the company, going ahead, is to invest in artificial intelligence and machine learning, and enrich the assortment of regional brands on the platform, Bahl said.
    Bahl, who was recently appointed head of CII’s ecommerce committee, said this will be an “interesting year” for the e-commerce sector from a policy standpoint, given the government is working on a draft ecommerce policy, but he did not comment on whether the sector needed a separate regulator.
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