E-commerce driving SME growth
E-commerce channel also improves speed to market, global consumer base and flexibility to conduct business
Chennai: Small and medium sector companies who adopted e-commerce have improved their revenues and contribute to new job opportunities, states a recent study.
The study, jointly conducted by e-commerce player Snapdeal and market research firm KPMG, shows that SMEs who adopted internet saw 51 per cent higher revenues and 49 per cent more profit.
E-commerce channel also improves speed to market, global consumer base and flexibility to conduct business, it noted. Eight-five per cent of SMEs who adopted e-commerce believe that it is a cost effective medium. “Indian SMEs are looking at e-commerce as an innovative tool to build fresh business models,” Kunal Bahl, co-founder and CEO Snapdeal said.
“We hope that the findings of this report will assist policymakers, industry bodies and e-commerce companies to strengthen the support ecosystem for SMEs,” Richard Rekhy CEO KPMG India, said.