Udaan remains the largest wholesale e-commerce platform in India with 21 times revenue growth in FY20

Founded in 2016, Udaan is a wholesale e-commerce platform (B2B) in India. The categories it operates on include lifestyle, electronics , household and kitchen supplies, staple foods , fruits and vegetables , fast-moving consumer goods , medicines , toys and daily necessities . Udaan can deliver products in more than 900 cities in India.

Currently, Udaan has more than 3 million users, 1.7 million retailers and 30,000 sellers , and is India's largest wholesale e-commerce platform. Udaan claims that in 2020, more than 250 sellers under its lifestyle and fashion category have achieved sales worth 10 million rupees on its platform.

In January 2021, Udaan completed a US$280 million Series D financing round with a valuation of US$3 billion. According to regulatory documents in Singapore, Udaan's revenue in fiscal year 20 increased 21 times, from 463 million rupees in fiscal year 19 to 978 million rupees.

Udaan ’s annual expenditure increased fourfold from Rs 8.5 billion in FY19 to Rs 3,488 crore in FY20 .

The above data shows that Udaan is still in a loss-making state, but its growing revenue year by year indicates the company's healthy development trend - although the loss is increasing year by year, its revenue is also growing. All in all, Udaan has a good development momentum.

In recent years, the situation of India's e-commerce market has been improving. With the increasing popularity of smart phones, India's online shopping penetration rate has been increasing, while the return rate of online shopping has been declining. The progress of the national economy has also led to a continuous increase in India's national income. The overall environment in India is more conducive to the development of the e-commerce market.

However, due to the lagging development of India's overall manufacturing industry, Chinese products are very popular in India. Products from China are very popular among the Indian people, and Chinese products have a broad market in India.

According to relevant data, the average age of Indian citizens is under 35 years old, making it the country with the youngest citizens in the world. The young age structure means that the young group accounts for a large proportion, and young people are more tolerant and accepting of various trends and novel products. Therefore, sellers can formulate business strategies based on this characteristic of India.

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