TradeIndia witnesses 98% rise in chocolates, confectionery & bakery products
TradeIndia, one of India’s leading B2B marketplaces, has revealed a month-on-month 95% annual rise in demand for the FMCG category besides an overall 48% increase in demand across categories during the financial year 2020-21 as compared to the previous year. This prolific surge in demand was led by personal care products (99%), chocolates, confectionery and baked products (98%), essential staples like rice, flour pulses (95%), and toiletries like sanitary napkins, shaving razors, and bathing products (94%). According to TradeIndia, this spectacular growth will aid TradeIndia in bolstering its business pursuits across a plethora of segments while also catalyzing novel breakthroughs in untapped markets. In addition, this massive growth will also help TradeIndia (TI) in advancing its flagship TI shopping portal that is enabling countless buyers to graduate from Discovery to Transaction Journey.
The company also saw a significant increase in seller registration on the platform in the FMCG category alongside a rise in paid subscribers. It was also noted 20% of its paid subscribers were now an active part of the FMCG category. TI also observed a steady demand surge emanating from Tier 2 and Tier 3 cities that have furthered the company’s brand presence but are also helping businesses embrace digitization. With countless product categories available in the TI portal and several more being added each day, buyers now have the opportunity to survey a wide variety and buy different products from different sellers across pan-India.
Speaking on the spectacular demand hike, Sandip Chhettri, chief executive officer, TradeIndia, said, “We are thrilled to have secured such a prolific increase in demand across the FMCG category this year as compared to the previous financial year. With massive spending being witnessed across the FMGC segment this year, it is safe to say that our customers are experiencing a steady increase in their purchasing power with the return of normalcy and economic stability in the post-pandemic period. Riding on the back of our revolutionary TI portal that accounts for much of these extensive sales, we are confident that TradeIndia’s perfect blend of technology and the human touch will generate even higher sales in the future.”
The TI shopping platform focuses on capitalizing on India's B2B eCommerce market as the rapidly burgeoning sector where small and mid-sized businesses like Kirana stores, hotels and restaurants, offices are targeted online, creating a US$ 60 billion revenue opportunity. The Indian retail ecosystem is a US$ 1 trillion market of which food and grocery comprise a substantial 65% share. About 96% of this market remains unorganized and is served by over 14 million Kirana stores; the rest 3% includes organized brick & mortar retail, also called modern trade. The remaining 1% constitutes B2C eCommerce, it said.
TradeIndia.com is an online Business to Business (B2B) portal for small businesses based in India and around the globe. The portal was started in 1996 by Bikky Khosla and is maintained and promoted under the flagship company, Infocom Network. The company is headquartered in New Delhi, India, and has branch offices in more than 42 cities.