OLX India aims to double its car sales business by next year: Sapna Arora
Arora, CMO, OLX India, talks about the aim to take the monthly active users count to 10 crore, tapping the offline medium and more
With the auto sector going through a rough patch, OLX India is hoping that the market for used cars will perform better.
Sapna Arora, CMO, OLX India, told exchange4media that if a product fails outside the range of affordability of a person then OLX plays a role. “It creates an opportunity for players like us.”
The company has 50 million monthly active users, in which 10 million are in the auto category. The brand’s focus for the next year is to double its car sales business. “We want to see a two-fold rise in monthly active users from 5 crore to 10 crore and growth in the jobs segment,” Arora said.
“With the development of the right technology infrastructure, we are confident of further strengthening and developing our business model. In turn, this will enable us to offer superior customer value that will be key to differentiation in our industry,” she added.
OLX is present in more than 43 countries worldwide. Asked how important is India in the OLX growth strategy and where does India stand in the global line-up, Arora said: “India comes at the second spot after Poland.”
“India has a complete different business model from other countries. Others have ‘Paid Dealers’ from where monetization and revenue comes in. This is something which we haven’t touched upon; it is mostly a freemium model where consumers don’t pay. They are further down on the path of monetizing the platform and India is not completely focused on it. We want to widen our user base,” she added.
The growth of the car category on OLX has seen a 20 per cent growth in the last one year. Sapna said the listing of unboxed cars owned for less than 2 years has seen an impressive growth on OLX.
It registered an 18 per cent y-o-y growth in 2018 over 2017. The brand’s offline pre-owned car-selling business (Cash My Car) may be expanded to 40 cities by 2021 with over 150 stores.
Asked if the reason behind tapping the offline medium was to cater to tier markets, Arora said: “We still have a long way to go there. The reason to enter offline is to widen our presence to offer an easy process to consumers; we need to do other things to reach tier cities.”
Apart from cars, the category where consumers buy and sell is the smartphone segment and in this regard Arora said, “Buyer inquiries for pre-owned smartphones have grown 100 per cent in the last 2 years. Almost 70 per cent of all the listings in phones were sold on OLX, implying the high liquidity of the platform.”
Asked about future plans, she said: “The outlook for the new fiscal is to grow our user base, strengthen our existing categories, grow our new business lines and bolster the core theme of customer centricity across the entire OLX product portfolio.”
On adopting a new identity after a decade, Arora said: “The reason for the brand transformation was to appeal to the global millennials. The app overhaul we announced in India earlier this year, backed by digital initiatives, advanced ML and AI have resulted in a better, global product which will transform the user experience.”
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