DealShare records 5X growth in FY20-FY21
DealShare, the pioneer of community group buying e-commerce in India focusing on disrupting the way Bharat shops, today announced that they have registered a 5X growth in the last fiscal. In March 2021, the company crossed GMV run rate of $150M fulfilling more than 1 million orders and serving 3 lakh customers, despite the disruption in the ecosystem due to the pandemic. Till date, DealShare has onboarded 2.5 million customers and the company is adding 150,000 customers every month with focused approach in Maharashtra, Rajasthan, Gujarat, Karnataka and NCR.
Sharing his views on the growth, Mr Vineet Rao, Founder & CEO, DealShare, said, “Our vision has always been to re-define the way India shops. We have always wanted to chart our own path. In fact, very early in our journey we realized that our target audience that is the middle and lower income category are customers who are value conscious and there is no one addressing their requirements. Be it our product assortment or the mode of purchasing like group buying or deal sharing are all aligned towards their needs. They all are directed towards adding value to our customers’ shopping experience by not only offering them with quality products at affordable prices, but also enabling them to gain more from their purchases. This deep understanding of the target audience has worked in our favor. Our strong growth trajectory is a testimony of the acceptance our vision has received. We are on path to create a sustainable business creating value for entire ecosystem while becoming profitable by year end while creating a mass market offering in a most capital efficient way.
Adding to Mr. Vineet Rao’s views Mr Sourjyendu Medda, Founder, Chief Business Officer and Chief Finance Officer, DealShare, said, “What sets us apart is our customer focus. The value conscious customers are present across the country and our geographical spread and growth is in sync with it. Even metro cities where we are present have a big chunk of value conscious customers who value quality over brand name. While on one side, we cover Metro cities like NCR, Mumbai and Bangalore on the other side, we also cover very small towns like Chomu, Dausa, Nadiad, etc. Around 800+ new pin-codes and more than 2 million customers from across all tiers of cities and towns were added in the last fiscal. From revenue perspective, Rajasthan continues to have a big share and contributes to 45% of our revenue followed by Maharashtra and Gujarat contributing to another 45%. Not only have we registered $150M plus GMV run rate, we are optimistic of continuing the current 50% month on month growth in this fiscal as well. We plan to rapidly scale to 10000 pin-codes serving a population of over 250M over next year generating employment for over 10000 families”
Operating on a discovery led model, DealShare allows customers to not only buy for themselves, but also to share deals with their friends encouraging community commerce. DealShare has rolled out various innovative CGB models like DealShare Dost to on-board the kirana going consumers and has become the go-to platform for the middle and lower middle-income category. The initiative has also helped DealShare in ensuring repeat purchase behavior. The repeat purchase rate at DealShare is as high as 80%.
“The first wave of COVID exemplified the need for digital solutions even to address daily needs beyond leading towns. It bought many first time users to the fold of online grocery. For us apart from new customers it also witnessed a spike in the cart values. The average cart value jumped from INR 500 to INR 800 in the last one year. The current wave will solidify these shifts further. We are well prepared to meet this transformation the eco-system may see.” added Mr Sourjyendu Medda
What differentiates DealShare is how it empowers the ecosystem and passes the benefits to the value conscious end consumer and how the brand has enabled local manufacturers to exponentially grow their business. “We have been associated with DealShare since last 2 years. They have helped my local brand to become national. Am delighted to serve so many customers across India.” – says Rameshji, owner of Shree Ram Bhujia, based out of Jaipur. “We are associated with over 16000+ monthly orders of DealShare. As a small business owner, they have empowered me and my team to earn money in these difficult times.” – says Prathmesh, a top community leader and micro-entrepreneur from Jaipur.
Apart from ensuring the best and most of every shopping, DealShare has been instrumental in helping more than 200+ regional manufactures across the state of Rajasthan, Gujarat, Maharashtra and Karnataka scale their growth and has plans to double the same by end of year. The association with DealShare has helped these brands to expand their market reach and witness a 6X growth in their sales in the last one year.