Magicpin reports 100% growth in daily orders on ONDC
Hyperlocal startup magicpin clocked in 100% growth in daily orders on the Open Network for Digital Commerce (ONDC) network during the week ended May 7. In a week, magicpin claimed to have doubled its orders to touch 20,000 a day. The number of orders soared beyond expectations with magicpin doubling its daily orders via its own buyer app and through buyer apps of multiple platforms like Paytm, Phonepe’s Pincode and Meesho.
Anshoo Sharma, CEO & co-founder, magicpin, said that within the first four weeks of joining ONDC, magicpin scaled from 100 to 10,000 orders a day. In the fifth week, Magicpin saw a massive leap to 20,000 daily orders.”
This represents a 200-fold growth in ONDC’s daily orders through magicpin. We are thrilled to take the network to another level by enabling customers to shop at their favorite local businesses or other retailers on ONDC,” added Sharma.
magicpin is also building a software-as-a-service (SaaS) platform for the ONDC initiative. With this SaaS platform, magician aims to offer its proprietary technology stack, including tools for digital payments, customer engagement and loyalty programmes to SMEs, thus enabling them to compete with larger players in the market.
This initiative is expected to drive greater adoption of digital commerce among small businesses, contributing to the growth and development of the Indian economy.
The company is not only powering cataloguing, ordering and order fulfilment on ONDC as a seller app but has also made these services visible on other buyer apps such as PayTM, Spice Money, Mystore, Craftsvilla and Meesho.
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PhonePe also recently announced its Pincode initiative, which will be leveraging magicpin’s last-mile connectivity on ONDC. magicpin is helping these startups reach hyper locals’ markets across the country through its backend and logistics support related to ordering and delivery.
Founded in 2015, magicpin is a hyperlocal startup that offers a discovery and discount platform for offline and physical retail, including local stores. It currently has more than 10 million users who get access to savings and discounts from more than 250,000 brands and retailer stores across categories like fashion, food, electronics, grocery, pharma, nightlife and entertainment.