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Digitalisation options propel Spinny's 40% plus yoy growth
The Business Guardian
|December 31, 2023
With the increased demand for digital sales in 2023, Spinny, India’s full-stack used car marketplace, has achieved 73 per cent of first-time buyers in 2023, a notable increase from 60 per cent last year and online purchases of 70 per cent with Bangalore, Delhi NCR and Hyderabad generating significant demand.
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According to the year-end report of 2023, the company sees a change in perception of consumer behaviour by witnessing an increase of 13 per cent in online sales, which rose to 70 per cent in 2023, compared to 48 per cent in 2022.
With digitalisation and easy financing options, Spinny grew by more than 40 per cent vis a vis last calendar year. The used car market in India has been experiencing robust growth and is projected to jump from 4.6 million units in FY23 to 8 million in FY27.
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