MUMBAI: The 50:50 home shopping channel joint venture between DEN Network and Snapdeal, which was launched earlier this year, has been witnessing 50 per cent month-on-month growth. What’s more, DEN Snapdeal TV Shop is expecting to touch gross merchandise volume (GMV) of Rs 500 crore by December 2015.
Commenting on the channel’s journey so far, DEN Snapdeal TV Shop CEO Maneesh Goel said, “Our business has started to optimally utilize the synergies of both the brands and gain advantage vis-a-vis other players in competition. Through its online marketplace platform, Snapdeal.com is able to cater to the Internet audience in the country, which stands at approximately 200 million.”
According to Goel, there are over 400 million people (100 million households) in the country that consume content through television but may not have access to the Internet and that’s how the idea to launch a TV shopping channel came about.
“Presently, the unique and finest product offerings have reached 30 million households and we expect to reach 80 million households by this Diwali,” Goel added.
The 24x7 TV commerce channel, which launched with an initial reach of 13 million homes, has increased its footprint to 30 million homes across several other distribution partners, mainly large and regional cable operators.
It has products ranging from electronics, mobiles, kitchenware, home appliances, men’s apparels, beauty and personal care, health and nutritional, cameras and accessories, toys and contemporary jewellery through its home shopping channel.