The Elite E-commerce company Snapdeal is losing 40% of the 2000 online merchants of the All India Online Vendors Association (AIOVA) as they have stopped selling on the e-commerce portal, due to arrears in their payments.
According to claims by AIOVA Rs 300-400 crore of unpaid dues is pending with snapdeal. The most influential group on social media channels, the seller's group AIOVA has raised an alarm against the arrears pending with the e-commerce companies, and has raised their voice to the commerce ministry.
"They will only work with the e-commercce giant when they give written assurance of their pending payments, said a spokesperson from AIOVA. The company founders Kunal Bahl & Rohit Bansal has not responded on the issue and it's still awaited.
Sources said that 30% sellers have already left the company during the past one year. The online portal Snapdeal claims to have around 3,00,000 sellers with them but their main business revenue is generated through only 50,000 sellers.
A Snapdeal spokesperson said, "At Snapdeal, we work closely with our seller partners to provide them access to a huge market, data-driven analytical support and access to comprehensive logistics and payment solutions. We have strong and robust engagement with our sellers, which helps conduct business operations in a reliable and frictionless manner."
Sources said the overall pending recovery from these sellers is estimated at Rs 800-900 crore.
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