NewZNew (Chandigarh) : DEN Snapdeal TV-Shop, a leading TV commerce company, today announced significant growth plans for the Punjab market. The 24-hour channel is available on Fastway in Punjab on dual frequency and it already reaches customers in ten of the state’s largest cities: Chandigarh, Ludhiana, Amritsar, Jalandhar, Patiala, Gurdaspur, Bhatinda, Hoshiarpur, Firozpur and Rupnagar.
“Punjab is one of our key strategic markets,” said Maneesh Goel, the DEN Snapdeal TV-Shop CEO, at a media conference today, adding, “we have a significant customer base here in Punjab reaching more than 35 lakh homes. We are confident of spiraling growth numbers from this very progressive state. Punjab already gives us more than 20 per cent of our total revenues, a much higher share than other much larger states of the country, and I expect this trend to gather further momentum as we deepen our reach. We expect to be reaching 50 lakh homes by the end of this year. We plan to expand our portfolio of goods and services and when we are available on the DTH platform our growth numbers will rise exponentially.”
The top selling categories in Punjab are mobile phones and tablets, men’s footwear, lifestyle and apparel, home and kitchen appliances and furnishings. DEN Snapdeal TV-Shop is confident that with its continued efforts and the kind of month-on-month growth it is witnessing in the Punjab market will take its sales from the region past Rs. 100 crore by the year-end.
The channel within just seven months of operations has made a mark in the industry by reaching 35 million households. The company is expecting to receive its satellite licence later this year which will make DEN Snapdeal TV-Shop available on all DTH platforms. The company expects to touch a Gross Merchandise Value (GMV) of Rs. 500 crore by the end of this calendar year and will also be available in over 80 million homes.
Today the estimated size of the TV commerce industry in India is $ 1 billion. According to industry statistics, there are over 400 million people (100 million households) in the country that consume content through television and a majority of them still do not have access to the Internet. This scenario has propelled growth in this sector with over 40 per cent growth rate in the last four or five years. Increasingly new players are foraying into this segment to tap the existing and future business potential of TV commerce.