Jabong records 50 percent growth in net revenues in October
New Delhi [India], Nov 10 (ANI): Jabong has closed October with the first ever positive unit economics month, becoming only the second online e-commerce company in India to do so after Myntra. October saw a month-on-month growth of 50 percent in net revenues as well as surge in customer satisfaction scores.
ANI
Nov 10, 2016 20:16 IST
New Delhi [India], Nov 10 (ANI): Jabong has closed October with the first ever positive unit economics month, becoming only the second online e-commerce company in India to do so after Myntra. October saw a month-on-month growth of 50 percent in net revenues as well as surge in customer satisfaction scores. For the first time ever, Jabong achieved a positive gross profit propelled by revenue growth and fulfillment cost reduction. This has been accompanied by a surge in customer NPS, a measurement of customer satisfaction, to 50 percent. The month of October saw a hugely successful Big Brand Sale with the highest ever net revenue this year on weekdays and increase in average order value by 10 percent. Jabong has also witnessed an increase of 40 percent in app installations while new customer base has been growing. The increase in new customers was propelled by the launch of the new festive campaign, #YouAreTheFestival. "Jabong has witnessed a strong turnaround. I am delighted that revenue growth is back on track, margins are getting better and the customer experience has significantly improved. Synergies with Myntra as well as cross learning's between the companies have helped accelerate customer acquisition and better customer experience," said CEO Jabong, Ananth Narayanan. Jabong also saw the return of over 1300 marketplace sellers online. Two marquee brands of Myntra, "All About You" by Deepika Padukone and "Roadster" were also launched on the platform. (ANI)
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