Joom launched in India..! Amazon is in trouble..!?

Sowmiya Sriram
Joom launched in India..! amazon is in trouble..!?
Joom, the leading global e-commerce company, is making its debut in India. Headquartered in Lisbon, Joom has created a platform for local merchants and exporters across eight cities in india – Mumbai, New Delhi, Indore, Jaipur, Surat, Roorkee, and Ludhiana. Due to this, the leading e-commerce companies in india such as flipkart and amazon will not be affected to a large extent. Apart from this, acquiring new customers in the indian market is not common these days.
Through this platform, indian exporters and small and medium traders can easily do business in european and Commonwealth markets of individual provinces. So far, more than 350 traders have joined the Joom platform, and almost 50 percent of small and medium traders, exporters, and D2C traders are so far abroad. They are not selling their products. Currently, by joining the Joom platform, they can access their products in the international market for the first time, Joom said in a statement.
Currently, Joom Company is providing opportunities and platforms to sell products in Beauty, Jewellery, Crystal Healing, Medical & Cosmetic, health Products, Skin Care, Hair Care, and Women's Cosmetics category. In india, Currently Fantasy Character Costumes, Helmets, Armor, Shields, products for beekeepers; saddlery for horses; and offers products across various segments like gemstones, carpets, and traditional textiles. By 2022, merchants affiliated with Joom are successful and leading on the platform. Maxim Belove, Head of business Development, Asia-Pacific, Joom, said that they have registered 50 percent growth every month since launch. The first ad in india saw a six-fold growth. He added that due to this, the salesmen grew up to ten times maximum.
Launched in latvia in 2016, Joom hopes to make india one of its top two international markets by the end of this year. Grand view Research predicts that the global B2C e-commerce market will be worth $5.57 trillion by 2023, growing at a CAGR of 25.8 percent. Apparel and accessories continue to be the top-selling segments internationally. Its growth is expected to increase significantly in the Asia Pacific region as well. The study has indicated that this growth will be due to the large number of consumers in this area.
Apart from the Joom online platform, the same company also owns a pharmaceutical company called Onfy in Germany, a fintech service called joombe in Europe, Joom Logistics, and a wholesale platform called Joom-Pro. By 2022, Joom had reached 400 million registered users worldwide.

Find Out More:

Related Articles: