Mumbai. October 13, 2020.
India’s leading B2B online excess inventory liquidation platform – excess2sell.com registered its highest monthly sales revenue since the last six months, in September 2020. As the exclusive excess inventory liquidator in the B2B segment, excess2sell has witnessed a 70 percent recovery in business at the end of the first half of the Financial Year 2020 – 21. It also has managed to post 130 percent growth on gross margins. Between 21st March 2020 and 30th April excess2sell did not record any transactions and it was only after May 3rd when the first unlock was announced, that it became operative.
“The concluding hours of 30th September, when our monthly sales revenue crossed the highest figure for the last six months, was exhilarating. It became a moment to cherish. This has put the business right back to the pre-lockdown levels. Our first transaction post the lockdown took place on 27th April 2020. Logistics, which was one the most efficient part of our solutions offering, was the worst hit due to the lockdown. Yet gradually as the lockdown was lifted phase-wise, we bounced back and successfully managed the delivery of shipments,” says Mr. Rajan Sharma, Founder & CEO, excess2sell.com.
Excess2sell.com is India’s only B2B focused excess inventory Solutions Company in the online space. It has a registered seller-buyer base of over 40,000 partners and transacts roughly around 10,000 deals monthly across 14 verticals in more than 500 categories of products.
“We are an asset-lite company which harnesses the power of the www to offer B2B enterprises exposure to markets across the country. Over the last four years, we have managed to bring buyers and sellers from different cities and towns together on our platform to create a win-win proposition for all parties involved. We began operations in Mumbai and today it has extended to Pune, New Delhi, Bangalore, Hyderabad, Kolkata, Raipur, and Gurugram. We also have partners in thirty other locations across India and the numbers are gradually increasing,” adds Mr Sharma.
Many new age businesses and the conventional models were tested over the last six months. Not all were able to survive even the first few months with little or no revenue. This was an unforeseen situation for all kinds of businesses.
“The lockdown period will go down in history as a ‘black swan event’. Nothing will be the same as before by the time we come out of it, it will leave us with many fundamental truths. Business models need to be robust and adaptable to unpredictable occurrences. The fundamentals of transactions are the same whether offline or online. A business will survive if it remains profitable. A business needs hands-on founders who can steer the company during difficult times and only survivors will have a chance to re-plan the growth story,” concludes Mr Sharma.