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Jabong records 50% growth in net revenues in October

Jabong records 50% growth in net revenues in October

Author | exchange4media News Service | Thursday, Nov 10,2016 1:54 PM

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Jabong records 50% growth in net revenues in October

Jabong has closed October with the first ever positive unit economics month, becoming the second online e-commerce company in India to do so after Myntra. October saw a month-on-month growth of 50 per cent 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 per cent.

The month of October saw a successful Big Brand Sale with the highest ever net revenue this year on weekdays and increase in average order value by 10 per cent. Jabong has also witnessed an increase of 40 per cent 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.

Speaking about this, Ananth Narayanan, CEO, Jabong said, “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 learnings between the companies have helped accelerate customer acquisition and better customer experience.”

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. Other new brands on the platform include Lee cooper Apparel, Blackberry’s, Indian Terrain, Biba Kids, Jealous 21, Indigo Nation, John miller, Scullers, Urban Yoga, Rig, etc.

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