Udaan Records 65% Business Growth In 2024, Driven By Surge In Daily Buyers, Private-Label Demand
Udaan reported an all-time high repeat rate, which increased by 1,000 basis points compared to the previous year.
On Monday, B2B trade platform Udaan announced a 65% surge in overall business, primarily driven by a 70% increase in daily buyers, making 2024 the year with the highest-ever daily buyer count on the platform.
In 2024, according to their report, the platform delivered 2.45 billion units of products in the FMCG sector. Udaan also stated that their private label brands' revenue run rate grew 250% year-on-year, reflecting a rising demand for value-driven products among kirana retailers.
Additionally, Udaan reported an all-time high repeat rate, which increased by 1,000 basis points compared to the previous year, indicating the platform's value to its diverse and expanding network. This has empowered them to grow and thrive in a dynamic retail market. The platform also processed 85.85 million lines of orders.
"This has been a defining year for us with strong sustainable growth highlighting the success of the eB2B cluster playbook that Udaan has developed to empower small retailers across India."
"As we look forward to 2025, our focus remains on customer-centric innovation, operational efficiency, and sustainable value creation 'strengthening the backbone of Bharat's kirana ecosystem and driving the future of retail distribution," said Vaibhav Gupta, co-founder and chief executive officer at Udaan.
The company is progressing toward profitability, showcasing a remarkable 65% annual recurring revenue growth and a 70% increase in daily transacting buyers. This has led to deeper market penetration and increased wallet share among retailers.
Moreover, the platform reported a 200-basis-point improvement in gross margins and a 320-basis-point rise in contribution margins. There was also a 20% boost in buyer wallet share and a monthly repeat ratio exceeding 90%.
Also, during the period the company achieved a 30% reduction in absolute Ebitda burn, underscoring consistent focus on driving sustainable growth through efficiency enhancement and superior execution in the marketplace, udaan said.
The platform said it witnessed a strong surge in demand, with Bengaluru, Delhi, Hyderabad, and Kolkata continuing to drive growth among metro cities, and added that non-metro cities like Ghaziabad, Jaipur, Ahmedabad, Lucknow, and Indore saw rapid adoption.
Additionally, Pune, Mysuru and Mumbai emerged as high-growth markets, reinforcing the growing acceptance of eB2B trade among small businesses, it said.
(With PTI Inputs)
