Grofers eyes Rs 200 crore GMV from Grand Orange Bag Days sale

SoftBank-backed Grofers aims to clock gross merchandise value (GMV) of over Rs 200 crore during its ongoing Grand Orange Bag Days (GOBD) sale.

The company, which is running GOBD from January 19-27, said it has already crossed GMV of Rs 60 crore on the first day of the sale.

Also Read: Vibrant Gujarat Over 28,000 MoUs signed to generate 21 lakh jobs

GMV is a term used in online retailing to indicate the gross merchandise value of the products sold through the platform over a certain period of time.

"We will exceed Rs 200 crore in GMV during the GOBD. On day 1, our GMV was Rs 60 crore with 76 lakh units being sold," Grofers co-founder and CEO Albinder Dhindsa said.

He added that the company has unveiled a new cashback scheme during the sale called 'Orange Cash'.

"We wanted to reward consumers and drive repeat behaviour on their purchases. Using technology we analysed and created buyer patterns and preferences to develop the feature of Orange Cash. This new feature of Orange Cash will help us in driving loyalty for brands that customers regularly shop," he said.

Also Read: Country's richest 1% gained Rs 2,200 crore a day in 2018: Oxfam

Dhindsa added that the platform has engaged with brands and FMCG companies for the new feature, and customers will be able to redeem the earned Orange Cash on future transactions on Grofers till December 2019.

Grofers has previously stated that it aims to garner USD 2.5 billion (around Rs 17,500 crore) in revenue by 2020. It has a revenue run rate of over USD 360 million (about Rs 2,500 crore) currently.

Also Read: Women's unpaid work worth 43 times the annual income of Apple, world's biggest company: Report

Also Read: Indians biggest supporters of international aid: WEF global survey