Samsung sees 10% India business coming via online store by 2021-end
By: PTI | New Delhi |
Published: July 29, 2020 6:01:42 pm
Samsung sees 10% India business coming via online store by 2021-end (Image: Reuters)
South Korean tech major Samsung on Wednesday said it expects 10 per cent of India sales to be driven by its online store by the end of next year, as it brings in new programmes on its website to woo various segments of consumers.
“For Samsung, the Online Store (Samsung.com) is a key focus area for growth and we are targeting 10 per cent of our overall business in mobiles and consumer electronics through this important channel, Samsung India Senior Vice President Asim Warsi said.
The company, however, did not disclose the revenue targeted via the online route.
Samsung sells its products through e-commerce platforms like Flipkart and Amazon as well as brick-and-mortar stores.
As per documents filed with the Corporate Affairs Ministry, Samsung India’s revenue from operations in 2018-19 stood at Rs 70,627.7 crore, up 19 per cent from Rs 59,370.9 crore in the previous fiscal.
With increasing internet penetration and availability of finance options, the share of online channels like company websites and e-commerce platforms has been growing over the past few years.
This trend is expected to accelerate further as consumers look at safe options to make purchases amid the COVID-19 pandemic.
According to Counterpoint Research, around half of smartphone and one-third of consumer electronics sales are through online channels.
Samsung India said its online store has seen rapid growth over the last few years, with overall website traffic for 2020 expected to increase 1.4 times to 400 million and app base for Samsung shop growing 10 times year-to-date versus 2019.
With the launch of the new innovative programmes, Samsung.com will become the shopping destination of choice for mobile and consumer electronics products across key consumer segments, it added.
“The innovative programmes address existing loyal Samsung consumers and first-time users including the young tech-savvy student community that is looking to access the latest technology across product categories,” Warsi said.
The three programmes include – Samsung Referral Program, Samsung Student Program and Samsung Shop 20K Advantage.
The Samsung Student Program is an India first programme, under which the student community will get access to a special catalogue of products consisting of smartphones, tablets, wearable and accessories.
The products listed in the catalogue will be available at a special price and include value-added services such as complimentary insurance, exchange and EMI options.
Students can access the online storefront through their official college email ID or through validation by an authorised student credentials verification agency. PTI SR
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