Kiko Reside, a SaaS answer for neighbourhood shops mentioned it has processed over one lakh complete orders on the ONDC community.
Since its onboarding on the open community in December final yr, sellers on Kiko have witnessed vital enterprise progress with almost 2,500 orders per day. The corporate works instantly with kirana shops to digitize their enterprise.
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“We proceed to develop aggressively month on month, from 10,000 orders in January to 40,000 orders in February 2024 and we plan to shut March 2024 with over 70,000 orders. We have now already helped retailers efficiently course of over 100,000 orders on ONDC Community and plan to assist retailers course of over 1.5 million month-to-month orders earlier than the top of FY25,” Alok Chawla, co-founder, Kiko Reside, mentioned.
About 13 million kirana shops in India generate over $800 billion in annual enterprise, but most of them would not have a digital footprint. These sellers proceed to rely upon orders obtained over name and Whatsapp for his or her residence supply enterprise which constitutes over 10% of their enterprise — that is an $80 billion plus kirana led residence supply enterprise that already exists at this time, despite availability of fast commerce.
Fast commerce at underneath $four billion is a small fraction of the kirana residence supply enterprise even at this time. Kiko Reside helps sellers construct their digital storefront on ONDC Community and helps them give their retailer clients a web based expertise.
“ONDC Community helps take digital commerce to each nook of the nation in an open, inclusive manner that empowers all stakeholders. By making a stage enjoying discipline, the Open Community permits small, hyperlocal retailers like Kirana shops to leverage expertise, drive new gross sales channels, and develop their enterprise in ways in which was not attainable earlier than. Facilitating excessive success charges and fast deliveries, Kiko has unlocked the potential for 1000’s of neighborhood Kirana shops to thrive within the digital economic system,” T Koshy, MD and CEO, ONDC, mentioned.
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Promoting on-line had been difficult for small retailers up to now. The few who tried, struggled to keep up excessive stock fill charges i.e a buyer could order 5 gadgets however solely obtain three attributable to stock-outs. This led to poor purchaser experiences. Kiko Reside has been capable of tackle this for the retailers, serving to them construct a thriving enterprise on the ONDC community.A key accomplishment achieved by Kiko Reside is enabling excessive success charges by the retailers, with sellers reaching 99% order fill charges thus far, it mentioned. These efforts have led to order cancellation charges of lower than 1% and repeat shopping for charges that at the moment are crossing 30% of all orders.