B2B e-commerce major Udaan said it on Sunday Last year around one lakh new companies were added to the platform in the lifestyle segment by which Over 230 million products have been sent.
The company supported by Lightspeed also has Over 250 sellers in this category have a turnover of 1 billion rupees in 2020.
“We are glad that despite the global pandemic and its negative impact, Udaan has kept the wheels of small businesses moving across Bharat by harnessing the power and scale of e-commerce,” said Udaan director (Lifestyle Business ) Kumar Saurabh to PTI.
Udaan co-founder Sujeet Kumar
He added that the volume growth in the lifestyle business was primarily driven by a variety of quality products that were available at affordable prices to business partners serving smaller parts of the country.
With the addition of a lakh new company last year, Udaan has now about two lakh companies in the lifestyle category. The segment accounts for approximately 10 to 12 percent of Udaan’s total gross merchandise value (GMV).
While the company didn’t disclose its GMV numbers, a report from Bernstein said Udaan’s GMV was around $ 2.1 billion ARR (annual recurring income) in December 2020.
GMV is a term used in online commerce to indicate the gross value of products sold in the market over a period of time.
Udaan’s lifestyle business – consisting of clothing, accessories and shoes – has been shipped 230 million productsin 2020 for more than 26 lakh orders.
Udaan shared the trends of the year In the lifestyle segment, 10 million comfort products and slippers were sold in 900 cities during the year.
As work-from-home (WFM) became the norm due to the pandemic, it helped boost sales of everyday wearables. About nine million T-shirts, four million shirts and three million kurtis were sold.
Over 3.5 million socks and blouses were sold on the platform in 2020, while 25 million protective masks were sold on Udaan in the first eight months of the pandemic.
“The massive digital adoption by retailers and manufacturers during the pandemic also meant that demand increased with the unlock. This clearly underscores the enormous potential in the lifestyle business,” said Saurabh.
He added that Udaan is in a unique position to seize this opportunity by offering its business partners the benefits of e-commerce and internet scaling, in line with its vision of transforming the country’s commercial ecosystem through the use of technology.
Key states like Bihar and Assam recorded large transaction volumes in the Lifestyle category and cities such as Lucknow, Visakhapatnam, Bengaluru and Kolkata.
While the platform has been widely adopted by small and medium-sized businesses, so have large manufacturers and brands such as Jockey, Arvind, Shoppers Stop, BIBA, Rangriti, Lifestyle, Adidas, Reebok, Puma, Hummel, Relaxo and Aqualite in partnership with Udaan.
Udaan – with 30 lakh companies on its platform – operates in a variety of categories including lifestyle, electronics, home and kitchen, staples, fruits and vegetables, FMCG, pharmaceuticals, toys, and general merchandise.
Of these, 17 lakh are small retailers, including kirana stores, pharmacies, small hotels, restaurants and others.
