TradeIndia, one of India’s leading B2B marketplaces, has revealed a month on month 95% annual rise in demand for the FMCG category besides an overall 48% increase in demand across categories during the financial year 2020-21 as compared to the previous year. This prolific surge in demand was led by personal care products (99%), chocolates, confectionery and baked products (98%), essential staples like rice, flour pulses (95%), and toiletries like sanitary napkins, shaving razors, and bathing products (94%). This spectacular growth will aid TradeIndia in bolstering its business pursuits across a plethora of segments while also catalysing novel breakthroughs in untapped markets. This massive growth will also help TradeIndia in advancing its flagship TI shopping portal that is enabling countless buyers to graduate from Discovery to Transaction Journey.
The company also saw a significant increase in seller registration on the platform in the FMCG category alongside a rise in paid subscribers It was also noted 20% of its paid subscribers were now an active part of the FMCG category. TI also observed a steady demand surge emanating from Tier 2 and Tier 3 cities that have not only furthered the company’s brand presence but is also helping businesses embrace digitization. With countless product categories available in the TI portal and several more being added each day, buyers now have the opportunity to survey a wide variety and buy different products from different sellers across pan-India.
Speaking on the spectacular demand hike, Mr Sandip Chhettri, CEO, TradeIndia, said, “We are thrilled to have secured such a prolific increase in demand across the FMCG category this year as compared to the previous financial year. With massive spending being witnessed across the FMGC segment this year, it is safe to say that our customers are experiencing a steady increase in their purchasing power with the return of normalcy and economic stability in the post-pandemic period. Riding on the back of our revolutionary TI portal that accounts for much of these extensive sales, we are confident that TradeIndia’s perfect blend of technology and the human touch will generate even higher sales in the future”
The TI shopping platform focuses on capitalizing on the B2B Ecommerce market in India as the rapidly burgeoning sector where small and mid-sized businesses like Kirana stores, hotels & restaurants, offices, etc are targeted online, creating a $60 billion revenue opportunity. The Indian retail ecosystem is a $1 trillion market of which food & grocery comprise a substantial 65% share. About 96% of this market remains unorganized and is served by over 14 million Kirana stores; the rest 3% comprises organized brick & mortar retail, also called modern trade, and the remaining 1% constitutes B2C e-commerce.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.