Udaan bets big on lifestyle segment, adds 100,000 businesses in 2020

B2B e-commerce main Udaan on Sunday stated it added about one lakh new companies final yr on the platform below its Way of life section below which over 230 million merchandise had been shipped.

The Lightspeed-backed firm has additionally seen over 250 sellers below the class obtain gross sales value Rs 1 crore on the platform in 2020.

“We’re glad that regardless of the worldwide pandemic and its adversarial influence, Udaan stored the wheels of small companies throughout Bharat transferring by leveraging the facility and scale of e-commerce,” Udaan Head (Way of life Enterprise) Kumar Saurabh instructed PTI.

He added that the amount development achieved within the life-style enterprise was primarily pushed by an enormous vary of high quality merchandise being accessible at inexpensive costs to enterprise companions, who in flip cater to smaller elements of the nation.

The addition of 1 lakh new companies final yr, Udaan now has about 2 lakh companies below the life-style class. The section contributes about 10-12 per cent of Udaan’s general gross merchandise worth (GMV).

Whereas the corporate didn’t disclose its GMV numbers, a report by Bernstein states that Udaan’s GMV was at about USD 2.1 billion ARR (annual recurring income) in December 2020.

GMV is a time period utilized in on-line retailing to point the gross merchandise worth of the merchandise bought via {the marketplace} over a sure time period.

Udaan’s Way of life enterprise – comprising of clothes, equipment, and footwear – shipped over 230 million merchandise, catering to greater than 26 lakh orders in 2020.

Sharing tendencies from the yr, Udaan stated the life-style section noticed gross sales of 10 million consolation put on merchandise and slippers throughout 900 cities through the yr.

With work-from-home (WFM) changing into a norm as a result of pandemic helped increase sale of each day wearables, and about 9 million t-shirts, 4 million shirts and three million kurtis had been bought.

Over 3.5 million socks and blouses had been bought on the platform throughout 2020, whereas 25 million protecting masks had been bought on Udaan within the first 8 months of the pandemic, it added.

“Large digital adoption triggered amongst retailers and producers through the pandemic additionally resulted within the demand going up because the unlock occurred. This clearly highlights the large potential within the life-style enterprise,” Saurabh stated.

He added that Udaan is uniquely positioned to leverage this chance by providing the advantages of e-commerce and internet-scale to its enterprise companions, in keeping with its imaginative and prescient of remodeling the commerce ecosystem within the nation by leveraging know-how.

Key states resembling Bihar and Assam witnessed massive transaction volumes within the life-style class in addition to cities resembling Lucknow, Visakhapatnam, Bengaluru and Kolkata.

Whereas there was sturdy adoption of the platform by small and medium companies, even massive producers and types resembling Jockey, Arvind, Buyers Cease, BIBA, Rangriti, Way of life, Adidas, Reebok, Puma, Hummel, Relaxo and Aqualite have additionally partnered with Udaan.

Udaan – which has 30 lakh companies on its platform – has operations throughout classes together with life-style, electronics, residence and kitchen, staples, fruit and veggies, FMCG, pharma, toys and common merchandise.

Of those 30 lakh, 17 lakh are small retailers, together with kirana outlets, chemist outlets, small resorts and eating places and others.

(Solely the headline and film of this report could have been reworked by the Enterprise Normal employees; the remainder of the content material is auto-generated from a syndicated feed.)