Mobiles, Furniture, Electronics & Appliances all contributing to the growth
Bangalore, 30th October, 2018: Quikr, which now operates leading transaction marketplaces built on top of India’s largest classifieds platform, today announced that its goods vertical, QuikrBazaar, saw over 200% Y-o-Y growth in its certified products business. QuikrBazaar, that allows consumers to buy and sell anything pre-owned, launched its certified business over a year ago. It started with mobiles & tablets, and based on the strong consumer demand on its platform, it quickly expanded its product line to include furniture, laptops, TVs, refrigerators, washing machines, ACs, and music systems among others. Quikr delivers these products to 1000+ Indian cities.
Launching the certified format was a natural step for QuikrBazaar given Quikr’s overall strategy of going deeper in transactions across its verticals. Quikr sees massive transaction flow in its open architecture classifieds layer, and its strategy of offering transactional capabilities that buyers and sellers can choose to use at their option has worked exceedingly well across its verticals.
In QuikrBazaar’s case, since the launch of certified categories,
1. Transactions have grown 45% Q-o-Q in the most recent quarter
2. Searches for certified products on the platform are growing 3 times Q-o-Q
3. Growth is well distributed across Mobiles, Furniture, Electronics & Appliances categories
Talking about this, Sarath Chandra Gudlavalleti, Vice-President at QuikrBazaar said, “With millennials continuing to redefine India’s consumer story, we have been very focused on providing them a complete, hassle-free experience in QuikrBazaar, and our certified format was clearly a step in that direction. Buyers come to Quikr to seek good deals on products, and finding pre-owned/unboxed products that come with a warranty and repair guarantee is a huge plus for them. From the get-go consumers have loved our certified products, and it has directly reflected in the growth of our business as well. Yesterday’s Indian consumer’s hesitation towards buying something pre-owned is long gone, today’s buyers are looking at this as the smart way to purchase products.”
A fascinating fact to note about buying and selling pre-owned products is that it helps save the environment as well. A recent survey by QuikrBazaar says that 31% of consumers are aware of the environment-friendliness factor that comes with buying such products. In addition to this factor, of course, QuikrBazaar sees many consumers leaning towards pre-owned goods because of better pricing, shortening purchase cycles, easy availability, and the transactional experience offered by Quikr.
QuikrBazaar now offers a full suite that gives buyers and sellers 3 options:
1. In the certified business, it gives consumers an opportunity to buy certified pre-owned goods that
are 100% quality checked by Quikr and come with a warranty and replacement guarantee. These
products can be New, Unboxed, and Refurbished. On the selling side, those sellers who want a
simpler selling experience can directly sell their products to Quikr.
2. For those buyers and sellers who prefer to do the transaction on their own but in a secure manner,
Quikr continues to offer the C2C transaction option which allows consumers to directly buy/sell
from each other with secure payments and delivery service managed by Quikr.
3. For those consumers who prefer to close the deal offline in the traditional manner, Quikr
continues to offer a classifieds-type experience where they can use the Quikr platform only to
find each other.
Quikr’s total revenue in the first two quarters of this year has seen a 100% growth vs. the same period last year. The company grew its revenue 100% year-on-year in FY17-18 and expects to again grow 100% this year.
Quikr is India’s largest and broadest classifieds platform that is used by over 30 million unique users a month. It is present in 1200 cities in India and operates several large classifieds businesses across C2C, Cars, Education, Homes, Jobs, and Services. Quikr is accessible across mobile app, mobile site as well as desktop, and allows consumers as well as small businesses to sell, buy, rent and find things across its multiple categories with great ease. Quikr’s investors include Tiger Global Management, Kinnevik, Warburg Pincus, Matrix Partners India, Norwest Venture Partners, NGP Capital, Steadview Capital, Omidyar Network etc. Visit www.quikr.com for more details.