Mumbai based MOS Utility records 47% growth in revenue during lockdown.
India’s one of the leading B2B ecommerce firm MOS Utility private limited has recorded 47% growth in revenue amid the coronavirus pandemic, a senior company official Ravi Ruparelia said on Thursday, 22 April 2021.
Amid slowing economic activity, COVID-19 has led to a surge in e-commerce and accelerated digital transformation. As lockdowns became the new normal, businesses and consumers increasingly “went digital”, providing and purchasing more goods and services online, raising e-commerce’s share of global retail trade from 14% in 2019 to about 17% in 2020.
“The Indian eCommerce industry has witnessed a huge upsurge due to COVID-19 and there is substantial room for future growth,” said Chirag Shah,Co-Founder & CEO, MOS Utility.
MOS Utility is planning expand their Fintech business to eastern India and create their reach to interior parts of india where banking facilities are not developed. Building Insurance portal in local language will be one of the key development for company, which is targeting to insurance 25,00,000 families in 2021.
“Expanding to tier 2+ is a very large opportunity, which has remained untapped because of unique challenges that traditional e-commerce models have struggled to address. MOS Utlity’s unique business model has allowed it to bridge this gap and offer a high trust and super convenient consumer experience” said, Hitesh Ruparelia, President Ruparelia Funds