While e-commerce companies are bleeding money and are also facing fundamental unit economic challenges, Fynd, the unique fashion & commerce portal Festival of Fashion (FoF) beat all previous records and claimed its leadership position in the Omnichannel fashion space of the country.
The FoF that brought together a multitude of offline fashion stores under a single platform and offered shoppers attractive discounts registered a steep jump in sales. Fynd’s FoF witnessed 2.3X increase in order deliveries and 2.9X increase in Gross Merchandise Value compared to the previous sale season.
Fynd’s on-time delivery picked up from 70 per cent in January to 92 per cent in February. All this was achieved at a 32 per cent lesser customer acquisition cost and lower marketing expenses as compared to the last EOSS period of July 2016.
What differentiates Fynd’s FoF from other online sales is its same-day delivery option. At Fynd, the item from the nearest store is picked up and delivered quickly. Fynd’s operational efficiency has drastically improved, thus ensuring every customer comes back to the unique fashion e-commerce portal to shop to their heart’s content, its co-founder, Harsh Shah said.
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