Televisions, washing machines and refrigerators were the top categories at 540 per cent, 330 per cent and 300 per cent
RetailTech platform Arzooo witnessed a 400 per cent rise in sales of white goods during the festive season on its platform this year compared to last year. The top categories that contributed to this growth are televisions (540 per cent), washing machines (330 per cent) and refrigerators (300 per cent).
Arzooo, which offers local electronic stores a platform to digitize their operations, has already onboarded over 40,000 retailers on its platform. Around 80 per cent of these retailers are from tier 2 and 3 cities, contributing to nearly 67 per cent of the total sales volume, which indicates the increasing demand from these cities.
The western part of India recorded the maximum growth in sales at 1000 per cent led by cities such as Ahmednagar, Udaipur, and Dhule, among others. East India followed this at 950 per cent and North India at 500 per cent and South India 300 per cent.
Khushnud Khan, co-founder and chief executive officer at Arzooo, said, “Tier 2 and below cities represent a potentially untapped market with pent-up demand and significant opportunities. Our growth in the sale of white goods is a function of increased adoption of the platform among the retailers and a rise in disposable incomes among the consumers.”
Sellers on the Bengaluru-based retailtech platform also increased by 1500 per cent, of which the top sellers witnessed 5x sales this year compared to last year. Some of the top-performing states are Uttar Pradesh, Madhya Pradesh, Punjab, Tamil Nadu, and Karnataka.
This sale reflects the optimism of in-store shopping, a key factor driving offline retailer demand for white goods.
Earlier this June, Arzooo raised $70 million in a financing round at a valuation of $310 million. SBI Investment and Trifecta Leaders Fund led the Series B funding, while DoorDash’s founder Tony Xu, Celesta Capital and 3 Lines VC also participated.
The retail tech has raised over $85 million across different rounds since its inception in 2018 and has acquired over 40,000 partner stores till date.