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Cross-border e-commerce marketplace Joom has begun operations in India. The Lisbon-headquartered firm has launched a platform for local merchants and exporters in eight Indian cities - Mumbai, New Delhi, Indore, Jaipur, Surat, Roorkie, and Ludhiana. More than 350 merchants have already been onboarded on the Joom Marketplace.
Joom claims that Indian exporters and SMEs stand to gain easy access to European and Commonwealth of Independent States (CIS) markets through its platform. “Nearly 50 per cent of these SMEs, exporters and D2C businesses never sold their products in the global market earlier, and were able to reach international markets for the first time with Joom,” the company said in a statement.
At present, Joom offers products across categories like Fashion, Jewellery, Crystal Healing, Health & Beauty, Health Supplements, Skin Care, Hair Care, Women’s Fashion and accessories. In India, it has also entered new categories like cosplay items, which includes helmets, armour and shields; products for beekeepers; saddles for horses; and different kinds of gemstones for divination, carpets, and traditional fabrics, and other “under-represented” items.
Maxim Belov, Head of Asia-Pacific Business Development at Joom, shared, “Indian merchants who started connecting to Joom at the beginning of 2022 have not only successfully mastered the platform but have made it to the top-5 of origins, showing an average increase of 50 per cent per month since their launch.”
“The very first promotion of this region showed 6X growth, with some sellers’ growth going up to 10X,” he added.
The e-commerce major, which was founded in Latvia in 2016, reckons India could become one of its top-2 global markets by the end of 2023. The global cross-border B2C e-commerce market is poised to be worth $5.57 trillion by 2030, growing at a CAGR of 25.8 per cent, according to Grand View Research.
Apparel and accessories remain the best-performing categories globally. “Asia Pacific [which includes India] is expected to register rapid growth... The large consumer base in the region is anticipated to augment the growth,” the report stated.
Besides the Joom marketplace, the company also runs Onfy (a pharmaceutical marketplace in Germany); JoomPay (a fintech service in Europe); Joom Logistics (a logistics-tech service for cross-border e-commerce); and JoomPro (a platform for cross-border wholesale trade).
Joom had 400 million registered customers worldwide in 2022.
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