Jabong Clocks First Ever Positive GP Month
Jabong has closed October with the first ever positive unit economics month, becoming only the 2nd online e-commerce company in India to do so after Myntra. October saw a month-on-month growth of 50% in net revenues as well as the 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%.
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%. Jabong has also witnessed an increase of 40% 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 Jabong CEO Ananth Narayanan 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.
Jabong is a major fashion multi-brand e-store that offers a wide selection of over 350,000 products across footwear, apparel, jewelry, and accessories categories which got acquired recently by Myntra (a subsidiary company of Major Ecomm Flipkart). With more than 1500 international high-street brands, sports labels, Indian ethnic and designer labels and over 150,000 styles from over a thousand sellers, Jabong brings to its customers the latest trends from across the globe. Its “Be You” campaign highlights individuality, emphasizes the freedom to be a leader and promotes one’s own sense of style.