Along with the target of becoming leader of their domain and all the related services, startups are experimenting new ways to generate more and more revenue with the existing setup. E-commerce being ruled by biggies like Flipkart, Amazon, Snapdeal, Paytm etc. is feeling enrichments day by day. Recently, Snapdeal integrated Redbus, Zomato and Cleartrip APIs to enrich its consumers with power of bus ticketing, food ordering and travel arrangements through single portal.
Last year, CEO Kunal Bahl stated that Snapdeal would surpass Flipkart in terms of GMV by March 2016. This pilot could be a step towards achieving that milestone. Air ticket is a high GMV category while bus and food are high frequency categories. In the same direction of high GMV, Snapdeal has also tied up with real estate developers, including TVS Emerald, Provident Housing and Runwal Group to launch real estate and financial services on its website.
Benefit of deal is for all the concerned stakeholders. RebBus, Zomato and Cleartrip will get access to the large loyal consumer base of Snapdeal while snapdeal will get commission per sale without investing any additional money. Users will be able to find all the needs at one place.
The battle among all the e-commerce giants is for capturing all the verticals of online business – ticketing, shopping, hotel booking etc, along with the digital wallet. One with achieving excellence in its core will definitely be able to attract more consumers for other services as well.
Earlier this year, Snapdeal revealed its plan to offer its services to customers in 11 new Indian languages to target 130 million more users which have been left out because of that English disconnect.
Learning for entrepreneur is to plan the expansion of their business in all the verticals rather than just increasing geographical presence. Also, the revenue model must incorporate all the possibilities to generate profit for survival without need of external fund flow. Customer satisfaction is the key to success, so the pain areas for consumers must be removed from the system.