Snapdeal sniffs Rs 1K crore from sports goods
Like books, electronics and fashion, sports goods too are now fast moving to the online space. India's e-commerce biggie Snapdeal said it may end this financial year with a revenue of Rs 900 crore from the sports and fitness category. And this excludes sports apparel and shoes.
"When we launched the sports, health and fitness category in 2012, it was a nascent category. Last year, this segment grew to a monthly run rate of Rs 20 crore. Since then it has seen a sharp increase with sales touching a monthly run rate of Rs 75 crore as many health conscious Indians value sports as an important part of wellbeing," said Amit Maheshwari, VP, fashions, Snapdeal.
While cricket contributes significantly to this, sport like hockey and badminton are seeing rising interest. Snapdeal, which does over $1 billion in annual sales, has an assortment of over 50,000 goods in the sports category. Apart from sports equipment related to cricket, football, squash, table tennis, hockey and badminton, there is fitness equipment like treadmills, stationary bikes, rowing machines, elliptical trainers, weight training tools and nutrition products related to heart, respiratory care and sexual wellness.
Ernst & Young estimates the sportswear retail market in India at Rs 36,500 crore and estimates this is growing at about 33%. E&Y includes sports apparel, footwear and accessories, with footwear being the largest segment, accounting for around 60% of the total market. Maheshwari said lower retail penetration and challenges associated with distributing sports equipment has added to the complexity of sports-related retailing in the country .
India's successes in badminton has helped grow that market. India won three badminton medals in the 2014 Commonwealth Games. With Saina Nehwal and Ashwini Ponnappa making a marking in the international circuit, there's growing interest among enthusiasts, said Maheshwari.
Like books, electronics and fashion, sports goods too are now fast moving to the online space. India's e-commerce biggie Snapdeal said it may end this financial year with a revenue of Rs 900 crore from the sports and fitness category. And this excludes sports apparel and shoes.
"When we launched the sports, health and fitness category in 2012, it was a nascent category. Last year, this segment grew to a monthly run rate of Rs 20 crore. Since then it has seen a sharp increase with sales touching a monthly run rate of Rs 75 crore as many health conscious Indians value sports as an important part of wellbeing," said Amit Maheshwari, VP, fashions, Snapdeal.
While cricket contributes significantly to this, sport like hockey and badminton are seeing rising interest. Snapdeal, which does over $1 billion in annual sales, has an assortment of over 50,000 goods in the sports category. Apart from sports equipment related to cricket, football, squash, table tennis, hockey and badminton, there is fitness equipment like treadmills, stationary bikes, rowing machines, elliptical trainers, weight training tools and nutrition products related to heart, respiratory care and sexual wellness.
Ernst & Young estimates the sportswear retail market in India at Rs 36,500 crore and estimates this is growing at about 33%. E&Y includes sports apparel, footwear and accessories, with footwear being the largest segment, accounting for around 60% of the total market. Maheshwari said lower retail penetration and challenges associated with distributing sports equipment has added to the complexity of sports-related retailing in the country .
India's successes in badminton has helped grow that market. India won three badminton medals in the 2014 Commonwealth Games. With Saina Nehwal and Ashwini Ponnappa making a marking in the international circuit, there's growing interest among enthusiasts, said Maheshwari.
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